South Carolina Coastal home and condominium sales slow down

South Carolina’s coastal areas showed home and condominium sale declines in the second quarter, according to S.C. Association of Realtors:

• Grand Strands’ sales dropped 18 percent compared to last year

• Beaufort’s sales fell 16 percent

• Charleston’s sales dropped 3 percent

• Hilton Head sales plunged 44 percent

“The coastal markets’ phenomenal growth rate over the last four years was unsustainable long term,” said Nick Kremydas, chief executive officer of the association. “As a result, those markets are seeing a slight cooling period.”

Booming sales in the Upstate and Piedmont areas have kept the statewide real estate market healthy, Kremydas said.

Source: Jenny Burns, The Sun News, Myrtle Beach, SC