This summer has been very active for our local real estate market. I met with a few local mortgage professionals and they told me this was their best year in the past 5 years. Attorneys, Home Inspectors and Appraisers have told me the same thing.
Now that the summer season is coming to an end, we are starting to see more home owners and condo owners making decisions in regards to their real estate holdings. For those that own a condo, they have received the biggest bulk of their annual rental income for the year so they are thinking of selling instead of dealing with the negative cash-flow that comes from the winter months.
Many homeowners have requested recent market reports to determine the home prices for their communities. This is typical towards the end of each summer. Most people know that if they are going to sell this year than they have to get started in order to find the buyer and get it closed in this calendar year.
I think it is important to look at your real estate just like you would look at any other investment you have. Real estate prices in the Myrtle Beach area fluctuate just like in other investments. It may not move up and down fast yet there is movement. Especially in the last 24 months.
I received a recent Grand Strand Market Report from a local data company that has a wealth of information. This report breaks down the market according to property type and area. You can look at this report and get a good sense of where we are heading.
To review the report, see our Grand Strand Market Report. (download-able or printable PDF)
Personally, I feel the market will remain active throughout the rest of this year. We are likely to see a decline in inventory for the next few months. This is common during the Fall and Winter season. Sales should remain strong for those that decide to sell at this time.
Again, take a look at this report. You will not find a more comprehensive market report with charts than this one.
If you or anyone you know needs a market report specific for your property, let us know and we will respond quickly with that information.
Thank you for allowing us to be your Myrtle Beach Real Estate Resource.