South Carolina home sales plummet

Home sales in South Carolina dropped 13.4 percent in July from their year-ago level, while the median home price maintained annual growth, the South Carolina Association of Realtors reported.

Realtors recorded 6,166 sales in July, down from 7,122 in July 2005.

A total of 41,457 homes were sold year to date, which is 0.7 percent below the 41,746 sales during the same period last year.

The overall median price for single-family, condo and villa homes was $165,500 in July, up approximately 11 percent from a year earlier when the median was $149,100, but down from June's median of $170,000.

Among the areas reporting the largest declines in sales compared to a year ago were: the Hilton Head area, down 66.3 percent; Coastal Carolinas (Myrtle Beach, N. Myrtle Beach, Conway and Georgetown), down 42.7 percent; and Cherokee County, down 29.7 percent.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.