The State of our Market: November 2021

Here are the latest numbers for our local real estate market.

Today I have the brand-new market numbers for you. They are very interesting,

to say the least. We had our first double-digit decline, which is not the news I like

to give, but I want to keep you updated on the market. That being said, let’s take

a look at all of the data. 

Feel free to watch the full message above, or skip to topics that interest you

using the timestamps provided below for your convenience:

0:28 — Single-family homes last month

1:48 — Supply is protecting price right now

2:17 — Condos are doing well

3:08 — Supply is at an all-time low for condos

3:55 — Call us if you’re thinking about selling

4:32 — We have tons of buyers on our website

5:17 — John and Patricia’s success story 

5:57 — Jack and Patricia’s success story

7:02 — Wrapping up

Remember, the agent you choose matters. If you are looking to sell or know someone who is, give us a call. We will get your home sold and maximize your equity.

Myrtle Beach Market Update: October 2021

              

Here are the latest numbers from our local real estate market.

Today I wanted to bring you a quick market update. The most recent numbers

just got released, and they are interesting, to say the least. We’ve had our first

month of declining sales in quite a while. Let’s take a look at the numbers.

You can watch the full message above, or skip around to topics that interest

you using the timestamps provided below for your convenience:

0:24 — The recent decline

1:16 — Prices are flattening a bit

2:04 — A new record in average sales price

2:28 — Our inventory is still super low

3:14 — Showings per listing 

4:26 — Condo sales

5:07 — An all-time low in the supply of condos

5:38 — Strike while the iron is hot

6:37 — David’s success story

I predicted last month that the market would start to slow down a bit, and it looks

like we’ve finally gotten the data to show that. We’ve stayed relatively steady

for a few months, so if you’re looking for the top, this might be it. 

If you have any questions, are looking to buy, or want to sell, feel free to give me

a call. I would love to help.

Real Estate Market Update for March 2020

Where is the Myrtle Beach real estate market? Here are the latest numbers. 

Looking for a Myrtle Beach home? Click here for a Full Home search

Selling Your Myrtle Beach home? Get a free Home Price Evaluation

It’s time for a brand-new market update this spring. February’s numbers are in, so we’re going to compare them to what we saw in 2019.

In January, you’ll remember that we had a 20% increase in the average sale price to go along with a 10% increase in sales. Things aren’t quite that crazy in February, but we still saw some very encouraging numbers. Although sales were up just 2.5% from February 2019, the median price was up 11% to $249,007. I believe one thing driving that average sale price up is the lack of inventory.

Inventory is down 21.2% from where it was last year and we have a record-low 4.2 months of inventory. There are 53,000 active buyers on our website, and there simply aren’t enough homes for them. If you’re thinking about selling, this could be a huge opportunity for you.

Demand and buying power are sky-high.

Condo sales are pretty much flat from last year. They were down 0.9 % from 423 to 419. Prices in this market are still up 9%, though. The median price is right at $135,000. Inventory is down 11.3% for condos, with supply hovering around four months' worth.

In just the past week, we’ve seen interest rates for 30-year mortgage rates hit 50-year lows as a response to the coronavirus. If you're thinking about making a move in 2020, it could be a great time. If you just want to refinance, you could lock a rate in the 2% range. 

There might be some consumer confidence issues in the future, but the window is open right now for home sellers and homebuyers to take advantage of the current demand. Right now, you have a lot of buying power with these low rates.

If you have any questions for me about the real estate market or your personal situation, don’t hesitate to reach out via phone or email today. We look forward to hearing from you.

Sellers: You Have a Great Opportunity as We Close Out 2019

As we make our way through December, sellers have a great opportunity in our Myrtle Beach market. 

Looking for a Myrtle Beach home? Click here for a Full Home search

Selling Your Myrtle Beach home? Get a free Home Price Evaluation

What do the latest year-over-year numbers tell us about our Myrtle Beach market as we make our way through December? Last month, we saw some very surprising numbers, including a few records being set. 

In November, single-family resale home sales rose 16.2%, and the median sale price rose 4.1% to $230,000. In early 2016, the median price was $179,900, so you can see how much it’s increased over the years. The key number, though, is inventory, which dropped 13.2% to a new low of 4.6 months. Since 2016, the previous all-time low was 4.9 months. 

This means there are hardly any resale homes on the market as we come to the end of 2019. As a result, we’ll see prices rise considerably in January and February of 2020. If you’re thinking of selling, this is a great opportunity because there’s less competition. After the holiday season, there’s typically an influx of inventory.

If you’re thinking about selling in the next couple of months, take advantage of this low inventory.

New construction sales dropped just 0.8% compared to November 2018, and the median sale price dropped 4.2% to $250,000. Most of this drop, in my opinion, is due to the diversification of the new construction market. Inventory, meanwhile, rose 2% to five months. 

As far as condos go, sales rose 0.8%, and the median sale price rose 9.6% to $142,500. Inventory for condos dropped 9.4% to 4.8 months. 

These numbers make it clear: The word’s out on Myrtle Beach. Our market has gotten so much national attention for our affordability, and we’re seeing a lot of people move here to take advantage of better deals. As I said, if you’re thinking about selling in the next couple of months, take advantage of this low inventory. 

If you have any more real estate questions or you’re thinking of buying a home soon, don’t hesitate to reach out to me. I’d love to speak with you.