May real estate sales up

June 16, 2012 North Myrtle Beach, SC – According to Coastal Carolina Association of Realtors (CCAR), recent sales in Georgetown and Horry Counties in all categories improved remarkably.  CCAR calls May’s performance “a solid improvement.”  

Single family residential May sales surged 16.6% from the prior month and 22.3% from a year ago.  However, the average sales price reach a low of $211,146 not seen since the historic low points reached in January and February of last year.

Condo sales experienced one of its strongest months since 2007 performing 9.4% better than a year ago.  CCAR’s report noted that condo sales continue to improve at the expense of sales price with the median sales price hovering around $106,000.

Fifty six residential homes came on the market in North Myrtle Beach in May, a 75% increase over a year ago.  Reflecting the depressed market the average listing price was down 6% to $235,000.  New condo listings increased 13% over a year ago bringing 122 to the market at a 15.3% decline in average price to $168,000.  

In nearby Little River, 85 new May residential homes were brought to the market - a 6.3% increase above a year ago. These listings had a medium sales price of $208,500 - a price increase of 24.5% over May of last year.  Eighty six new condos were brought to the market at a medium sales price of $99,900 a 23.4% decline from last May.

To see the full report go to the Coastal Carolina Association of Realtors web site.