I’ll share what’s happening in the local market and share the latest data on single-family homes, new builds, and condos.

Wondering what’s really going on in the Grand Strand real estate market lately? There’s been a lot of chatter about whether it’s a buyer’s or seller’s market, so I wanted to break down what the numbers are showing right now. Here’s everything you need to know.

Single-family homes. When it comes to single-family homes, there are about 4,100 properties on the market. Last month, 1,057 of those were sold, putting us right at a four-month supply of inventory. That’s what we’d call a balanced market, maybe even leaning slightly toward sellers. Generally, once you hit a six-month supply and beyond, it starts tipping into buyer’s market territory.

New construction. What’s making things feel more like a buyer’s market right now is the surge in new construction from national home builders. They make up over 40% of the total inventory, which has a big impact. The median home price is between $330,000 and $340,000, and about a quarter of the homes for sale are priced between $300,000 and $400,000. That’s the sweet spot where most buyers are looking.

Builders are filling that range with new homes and buyer incentives, which makes the market feel more competitive and favorable for buyers.

The surge in new construction is tilting the market toward buyers.

Condo and townhome. There are about 3,200 units for sale, and 452 were sold last month. That works out to a little more than a seven-month supply, which definitely leans toward a buyer’s market.

If we focus on resort condos, like oceanfront or ocean-view properties, the picture is even clearer. There are 1,374 of these for sale, and only 142 sold last month, which gives us nearly a ten-month supply. That creates a strong advantage for buyers. The number of resort condos on the market has been steadily growing over the past two and a half years for several reasons, but that’s a topic for another time.

This gives you a big-picture look at the market, but when it comes to buying or selling, the focus needs to be on your specific neighborhood or community. That’s where you can really see what kind of market you’re in and make the right move.

If you’re thinking about buying or selling, reach out to me at (843) 251-2693 or send me an email at greg@gregsisson.com. Let’s take a closer look at your area so you know exactly where you stand.