Nationally late 2012 appears to be the turn around for the real estate market and the Grand Strand is tracking along, perhaps a few months later.
- Property sales are up by double digits over 2011
- Inventory (number of properties for sale) continues to decline
- Distressed inventory (short sales and foreclosures) continues to fall
- Single family homes sales were up 18.1% over 2011; condos up 11.7%
- For 2012 median home prices was $168K down 2.6% from last year; condos, $104K a 3% drop
- Both home and condo prices were up in December benefiting from declining inventories and low interest rates.
The big picture: inventories are declining, number of sales are up, prices are trending up, read the full report here: Grand Strand MarketReport, December 2012
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