Grand Strand Home Sales, Prices Down In August

September 10, 2008

By Jessica Foster – The Sun News

Grand Strand home sales and prices continued falling in August, according to information from the Coastal Carolinas Association of Realtors.

Realtors sold 472 homes, a 36 percent drop from August 2007. The median selling price of a single-family house fell 10 percent to $194,580 and condo prices fell 7 percent to $155,000.

The median price is where half sell for more and half sell for less.

On the bright side, the number of condos on the market inched down to 7,574, about 397 fewer than were on the market in January and 1,979 fewer than in August 2007.

Housing experts see declining inventory as a good thing because it brings supply back in line with demand.

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    Categories : Myrtle Beach

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