March closed out with some surprising numbers along the Grand Strand real estate market. Here are some quick statistics:

- Average sales price of single family homes was $451,980. Average sales price of all condos and townhomes was $272,120.

- Average days on the market for both single family homes and condos and townhomes was 136 days, about 4.5 months. This has held steady over the past few months in the condo/townhome category but is increasing in the single family home category.

- March 2026 saw the most new listings coming on the market in both categories in five years: 1552 single family homes (100 more than this time last year) and 998 condos and townhomes (70 more than this time last year).

- March 2026 saw the most total condos and townhomes for sale in five years with 3423 on the market.

- Historically, March sees the peak of homes that go under contract, or pending, in our market, and March 2026 saw 1787 pending sales (the most since March 2022).

We anticipate seeing strong sales numbers in April and May that will be the result of these pending sales. The question is, are these homes that are going under contract homes that have recently hit the market within the past few months, or ones that have been sitting on the market longer as a result of pricing higher than market demanded in the traditionally slower months.

As you know, we look heavily at months of supply for the market, which illustrates the supply and demand of properties in the area. Ending March, single family homes remain at 4 months of supply and have hovered around this timeframe for the past year, spiking up slightly last summer. Comparatively, March 2022 was 1.2 months, March 2023 was 3.2 months, and March 2024 was 3.5 months. In the condo/townhome category, months supply reached 8.1 months supply (similar numbers to last spring, but higher than last March). This number has been steadily climbing over the past few months and we anticipate it will reach its five year peak in April 2025.

What does this mean? 

Sellers are hoping for a strong spring and summer market, and they have a lot of competition to sharpen themselves against. Competitive pricing and excellent staging will be crucial in making the difference between the home that sells versus the home that does not. Condo sellers specifically need to be prepared to price their home where the market tells them it will sell, not where they hope it will sell for, and especially not where they hope to make a profit from where they purchased a few years ago. 

Buyers continue to have more negotiating power and more homes to select from, but need to be cognizant of economic factors outside of the housing market that are currently impacting their borrowing ability and the cost of living. 

If we can help you take a look at what your next steps look like, give us a call, we’d love to help talk through your situation and your goals!