Surfside Beach Real Estate Market Report, June 2022
Learn about real estate trends in the Surfside Beach Real Estate Market Report, June 2022 created by Kathy Rukat Smith, REALTORⓇ, with Palmetto Coastal Homes.
Even with the increase in interest rates, Surfside Beach, like the rest of the Grand Strand, continues to be in a sellers’ market. The average price of single family homes, condos and townhouses has risen. I believe we will continue to see this trend through 2022.
The graphs and information below show single-family home and condo/townhouse information for the month of June 2022 for Surfside Beach, and numbers are compared to June 2021. Information is provided by the Coastal Carolinas Association of REALTORSⓇ.
The Surfside Beach Real Estate Market Report covers single family homes and condo/townhouses in the Surfside Beach - both those inside the city limits and outside the city limits. The Report does not include manufactured homes, multi-family properties, land or commercial properties.
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Surfside Beach Single Family Home Market
Two numbers I like to keep an eye on to gauge the market are the percentage of sales price to listing price and the months supply of properties for sale. Generally, the higher the sale price to list price and a small months supply indicates a sellers' market.
For the single family home market in Surfside Beach, the percentage of sales price to list price is 99.4% and Surfside Beach has a 1.2 month supply of homes.
Quick Facts
- New Listings - 37, down 31.5%
- Sold Listings - 29, down 51.7%
- Active Listings - 45, down 25%
- Average Days on Market - 70, down 39.1%
- Average Sales Price - $503,855, up 31.7%
- Average Price Per Square Foot - $199, up 30.1%
Single Family Home Listings for Sale
Single Family Home Pending Listings
Single Family Home Showings to Pending
Another interesting number to point out is the number of showings before the listing goes pending. The fewer showings typically mean the house goes pending quicker.
Below the graph shows that for June 2022, sellers of single family homes in Surfside Beach had 11.1 showings before their home was under contract. This number is down 3.5% from June 2021.
Recent Closed Single Family Homes
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My weekly email newsletter goes out on Saturdays. Information will include local market reports, real estate tips and videos, new listings of mine and my office, local business highlights, Grand Strand events and inspirational quotes.
Surfside Beach Condo and Townhouse Market
The condo and townhouse market in Surfside Beach has strong sales price to listing price numbers as well as months supply number. A "normal" sellers' market occurs when there is less than a 6 month supply of homes for sale. Lately, markets all over the Grand Strand have had a 1 month or less inventory of homes.
In June, Surfside Beach had a 1.3 month supply of condos and townhouses. Properties are also selling at 101.7% of the listing price.
Quick Facts
- New Listings - 39, up 11.4%
- Sold Listings - 15, down 50%
- Active Listings - 33, up 37.5%
- Average Days on Market - 33, down 37.7%
- Average Sales Price - $214,527, up 16.4%
- Average Price Per Square Foot - $191, up 20.1%
Condo and Townhouse Listings for Sale
Condo and townhouse pending listings
Condo and Townhouse showings to Pending
The graph below shows owners of condos and townhouses in Surfside Beach are seeing 25% more showings until their property is pending in June 2022 as compared to June 2021. However, the number is showings is still very low at 12.
Recent Closed Condos and Townhouses
What Do These Numbers Mean for Buyers and Sellers?
As a buyer in this market, you need to come prepared when you start looking at properties. Before you start looking for homes, have your pre-approval letter ready to go. If you are looking at ocean front or ocean view condos in Surfside Beach, you may need to choose a lender that specializes in condotel financing. I will let you know if the properties you are looking for would need special financing and give you some lenders to call.
Sellers also need to be ready to move when the home is listed for sale. Because the sale could be very quick, you may need to consider moving into a short-term rental to have some extra time to find your next home or purchasing you new home prior to selling your current home.
Visit my YouTube Channel to learn more about the selling process or the buying process.
Newsletter
My weekly email newsletter goes out on Saturdays. Information will include local market reports, real estate tips and videos, new listings of mine and my office, local business highlights, Grand Strand events and inspirational quotes.
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