Sales of condominiums and single-family homes along the Grand Strand fell 0.1 percent in April when compared to the same month last year, according to the group. Only the Hilton Head Island area - which was the only area in the state where sales increased, with a 7.1 percent increase in April sales when compared to the same month last year - sold at a better pace.
Statewide real estate sales fell 18.4 percent last month when compared to April 2010, according to the S.C. Realtors Association. Some parts of the state, mostly inland areas, had dramatic drops in home sales in April. The southern Midlands area had a 51 percent drop, and the Aiken area had a nearly 35 percent drop in sales, according to the association.
Median prices on the Grand Strand continued to drop in April when compared to the same month last year. The median price for homes and condos on the Grand Strand was $145,000, down 3.3 percent from April 2010, according to the association.
Foreclosures and short sales, which typically sell at significant discounts, continue to drive prices down along the Grand Strand. The area's concentration of second homes and investment property makes the market more volatile than some other parts of the state, Tom Maeser, a real estate analyst for the Coastal Carolinas Association of Realtors, has said.
While the Grand Strand didn't have the biggest price drops, it fared worse than some parts of the state where property values gained significantly. The Hilton Head area had the biggest gains in median price - prices rose more than 20 percent from April 2010.
Statewide, median prices dropped 3 percent in April when compared to the same month last year, according to the S.C. Realtors Association.
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