Quick update on what's happening across the Grand Strand this month:
if you're thinking about buying or selling this summer, the latest market trends are creating opportunities for both buyers and sellers.
The biggest story? Buyer demand is surging.
Pending sales—homes that recently went under contract—jumped nearly 24% compared to last year for both single-family homes and condos. That's a strong sign that buyers are back in the market and acting with confidence.
Single-Family Homes
- Closed sales are up 7% year over year.
- Inventory remains tight at 5.1 months of supply, giving sellers the advantage.
- Homes are going under contract in about 78 days.
- Average sale prices remain strong at approximately $490,000.
Condos & Townhomes
- Closed sales increased 17%, while pending sales climbed 24%.
- Average sale prices have strengthened to around $268,000, signaling a rebound from last year's softer market.
- Inventory sits at 8.4 months, giving buyers more negotiating power than in the single-family market.
Mortgage Rates
The average 30-year fixed mortgage rate is now around 6.47%, down from 6.81% a year ago. On a $400,000 home with 10% down, that difference could save you about $80 per month—nearly $1,000 per year.
As I like to say: Marry the house, date the rate. Find the right home today, and refinance later if interest rates continue to fall.
What This Means for You
For Sellers: Demand is strong, inventory remains limited, and well-priced homes are attracting buyers quickly. It's an excellent time to consider listing.
For Buyers: Condos and townhomes still offer negotiating opportunities, and lower mortgage rates have improved affordability. The key is having a solid plan before making your move.
Curious What Your Home Is Worth?
These numbers reflect the overall Grand Strand market, but every neighborhood is different. If you'd like to know what today's market means for your home and your timeline, I'd be happy to prepare a free, no-obligation market analysis tailored specifically to your property.
