MYRTLE BEACH -- Real estate sales dropped in September along the coast despite them increasing in the previous four months and having jumped statewide, according to data released Monday from the South Carolina Realtors association.
The number of homes and condos sold in Horry, Georgetown and southern Brunswick County, N.C., declined 2 percent, to 638, in September compared to the same month last year, according to SCR. Statewide, sales increased 2.4 percent, to 4,154 homes, condos and villas sold in September compared to the same month in 2011.
The drop is in condominiums and not single-family home sales along the coast, said Tom Maeser, a real estate analyst with the Coastal Carolinas Association of Realtors.
About 392 houses sold in Horry, Georgetown and southern Brunswick County, N.C., in September, up from 371 homes that sold in September 2011, Maeser said.
The number of condos sold along the coast in September declined from 304, to 287, in September compared to the same month last year, Maeser said.
Residential sales are up, condo sales are coming down likely because the area “didn’t have many buyers come in or there’s not a lot of good deals right now in that price range [under $250,000],” Maeser said. “With single-family, new construction we have now is bringing in sales we didn’t have for a while.”
Other areas in the state saw a more significant decline in condo and single-family home sales. Cherokee County had the biggest decline in sales, dropping 27.3 percent, to 24 homes, condos and villas sold, in September compared to the same month last year, according to SCR. Aiken dropped 24.6 percent in sales in September, Southern Midlands dropped 20 percent, North Augusta dropped 18 percent and Sumter/Clarendon County dropped 14 percent, according to the association.