📈Overall increase of 8.44% in resale home prices
🏢Balanced market with 4.78 month supply of single-family homes
💰Average list-to-sales price ratio of 105% for resale homes
🌊Decrease of 2.85% in condo prices in oceanfront buildings
🏡16.31% decrease in resale home prices in the Carolina Forest Area
Were homes selling above the list price in 2023?
—Yes, with an average list-to-sales price ratio of 105% for resale homes.
What was the average supply of condos on the market?
—There was a balanced market with a 4.5 month supply of condos in the Grand Strand.
Did oceanfront condo prices decrease in 2023?
—Yes, there was a 2.85% decrease in condo prices in oceanfront buildings.
How did the Carolina Forest Area compare in terms of resale home prices?
—There was a 16.31% decrease in resale home prices in the Carolina Forest Area.
What was the overall increase in prices for the year?
—The overall increase was 8.44% for resale home prices in the Grand Strand.
00:00In this video, we'll take a comprehensive look at the real estate market in 2023.
00:44The average closing price for single-family resale homes in December 2023 was $538,000.
01:20Homes were on the market for an average of 91 days, with a 4.78 month supply.
02:08There was a 15.7% increase in resale home prices compared to December 2022.
02:54Condo prices in oceanfront buildings decreased by 2.85% in December 2023.
03:51The Carolina Forest Area saw a 16.31% decrease in resale home prices.
05:43New construction sales had an average price of $423,000 in December 2023.
06:20Despite the impact of high interest rates, the overall increase in prices for the year was 6.7%.
