May 2014 Myrtle Beach Real Estate Market

Trying to Analyze What the Market Will Do

The real estate market along the Grand Strand has been a bit confusing over the past six months. Depending on the day, you may see one report that shows the market going up and another that shows the market is heading down. I can imagine you are sitting back wishing we could all get our stories to line up together.

I want to share some important information about the real estate market that I think is misunderstood by the consumer as well as the real estate agents themselves.

Let me start off with some basic facts:

- The market remains to be very active
- Real Estate prices have stabilized
- Average Days on Market is still reasonable

Additional information you will find interesting:

- We have seen a slight downward trend in the amount of monthly sales transactions for 5 of the last 6 months

- We have seen interest rates increase slightly on people with less than perfect credit.

- We are seeing a slow down in new construction sales

- We are noticing builder discounts and incentives being advertised to get rid of standing inventory.

So, what is really happening in our market?

This is the question that everyone is asking yet very few people want to answer. The answer is not a simple statement. The answer requires a much longer explanation than you would care to read in this note.

I have answered the questions dozens of times for my clients and I have documented my thoughts if you are interested in reading.

Read my report: “Analyzing the Myrtle Beach Market in 2014” 

I will share in detail what we see and why this may be the "New Normal".

If there is anything else that we can do for you, please let us know. I will continue to be your Myrtle Beach Real Estate Resource. I know you have the choice to work with thousands of real estate agents, yet we are the ONE Agency that is trying to earn your business. Let me know what we can do to help you.

~Greg Harrelson