Strand 2013 single-family home sales set a new record

sjones@thesunnews.comJanuary 31, 2014 

Single-family home sales slowed along the Grand Strand in the 4th quarter of 2013, but not enough to stop the whole year’s sales from setting a record.

According to a market analysis from SiteTech Systems, 4,724 single-family homes were sold during the year, more than 600 more than sold in 2005, the previous best 12 months.

Sales were up 11.6 percent in the 4th quarter and 19.5 percent for the year, SiteTech reported. At the same time, the report said that the median sales price for a single-family home climbed by 6.5 percent for the year boosted by 8.6 percent growth in the 4th quarter. The median price for year was $180,000, more than $12,000 higher than 2012.

For the quarter, the median price tallied $180,413, more than $14,000 above the 4th quarter in 2012.

Sales of condominiums dropped by 2 percent in the 4th quarter versus a year earlier. But the year’s growth in condo sales was up 5.4 percent, putting the overall activity in line with what happened in 2002/2003 levels, SiteTech reported.

Additionally, SiteTech said that condos recorded their first year-to-year price growth since 2007. The median price of $110,000 for the year was up $6,000 from 2012.

As with single-family homes, 4th quarter median prices for condos was above the yearly median at $114,000.

Contact STEVE JONES at 444-1765.

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