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VIDEO: Grand Strand Market Statistics for February 2016

Today we’re going to look at the most recent numbers we’ve compiled from February, and compare them to the numbers we saw back in February of 2015. We’ll discuss both the single-family home and condo markets. Let’s get started.

Demand for single-family homes in the Grand Strand has gone up considerably in the past year. We had 480 homes close this February as opposed to the 418 we saw in 2015. That’s a 15% increase!

Another thing we pay special attention to is the current inventory. Our inventory right now is fairly unchanged from last year, as we saw only about a 100 unit increase. Our inventory currently sits at around an 8.5 month supply for single family homes, which is a very healthy number.

In the condo market, we are seeing an even bigger increase in demand. We had 321 units close this February, up from the 248 we saw a year ago, which is a 29% increase! We have about a 10-month supply of condos right now.

Now, oceanfront and ocean-view condos are a little bit different. We have a 15-month supply of homes there, and they are lagging behind a little bit.

Next time, we will be back with our full first-quarter market update. It should give you a good idea of what to expect in the spring and summer, typically the busiest months of the year for real estate. In the meantime, if you have any questions about your specific property, give us a call or send us an email. We would love to help you out!