Not Too Shabby, Not Too Chic – Flat but Steady Stats Pave the Way to the Future

As the end of 2011’s first quarter nears, we have already got some trends setting in for the current real estate year in the Grand Strand. I’ve assembled a rundown of February market statistics, including information about how single-family homes performed on the market with inventory, turnover and supply plus also the same for condos and resort properties. I’ve even thrown in some data from January so you can see how things are evolving. Hold still, folks – spring is here and things are about to start picking up. But for now, here’s how we’ve done so far:

Single-Family Homes

5011 Homes in Inventory / Listed for Sale
277 Sold Last Month
4.5% Percentage of Inventory Turning Over
22 Number of Months’ Supply of Homes

Looking back a bit further, in January our inventory rose by 100 units, though sales were down by 4 units.

Considering January to February figures, even though the sales have been relatively flat, inventory is starting to climb a bit. Completely in line with normal trends for this time of year, people will begin to put their homes on the market for sale and inventory will continue to rise. This coincides nicely (and not coincidentally) with the expected rise in springtime housing demand.

Condominiums

4536 Inventory / Listed for Sale / Slightly Up From Last Month’s 4520
202 Sold Last Month / Up Slightly From January’s 193
4.5% Percentage of Inventory Turning Over
22 Number of Months’ Supply of Homes

Resort Condominiums, Ocean Front & Ocean View Properties

1827 Inventory / Listed for Sale
95 Sold Last Month / Up From January’s 77
5% Percentage of Inventory Turning Over
19 Number of Months’ Supply of Homes
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Any way you look at it folks – the news is not bad. With sales still taking place, inventory building and things getting lined up for the Springtime rush, we can only hope for the promise of a strong real estate outlook in the future.