As Labor Day approaches and schools across the country open their doors to students, the condo market shifts along the Grand Strand. There's a natural ebb and flow of supply and demand with condos along the Grand Strand. As the fall approaches, it is prime time to find a vacation condo or an income producing condo. Typically, as summer ends, owners have enjoyed the property one last summer and they are going to list it. Or, they have maximized the rental income through the summer and they are listing it as the season ends. This means there should be more inventory of “good ones” to choose from and also that the properties are easier to see. Please note- this means you’re signing up for HOA payments through the slower winter rental season. If you plan to use this is a vacation home, perfect! If you are planning to rent it out, please make sure you have the cashflow necessary to carry it through the slower part of the year. 

Sellers: 

Listing after Labor Day means you need to have the right pricing strategy to get under contract before the end of October. There’s a higher chance of your listing failing to sell and being withdrawn or expiring over the winter. There’s a significant drop in pending and sold properties in November, December and January. 

Buyers: 

The fall condo season is when sellers are softening on their price and terms. This is the time to buy a great condo at a great price. Be ready to find a snowbird or a monthly renter to create cash flow while you prepare for the spring and summer short term rental season. 

Is now the right time to buy a condo? That depends on your situation! We're happy to help answer any questions.  

Below is a guide to the 4 seasons of the Grand Strand condo market: 

Summer: Rents are at their peak so there’s very little inventory to view. The units should be fully booked and difficult to see if you’re a buyer. Plan to make a decision based on the rental performance, pictures and viewing a similar unit with the same layout. Ask yourself and your agent why it’s for sale during the summer.

Fall: With summer over, many condos are listed for sale before they have to pay high HOA fees through the winter. Condos are easier to view in person and with more inventory, prices are a little better. Rental numbers are still strong but don’t have as many family vacations with school being in session.

Winter: Prices are typically better but many of the best units have been purchased in the fall. This is the slowest rental season and condos are mostly available to see in person. Rental opportunities include holiday renters and snow birds. 

Spring: Sellers become more stubborn on their price because summer rental incomes are approaching. There’s less inventory but if you can find a suitable property, it’s a great time to buy because you have less time to pay carrying costs until summer.