Myrtle Beach Real Estate April 2019

First Quarter Review

The real estate market along the Grand Strand remains active during the first 3 months of 2019.

We are hearing from many buyers that the market in their hometown seems to be slowing. Fortunately, we have not seen signs of this locally. 

For an in-depth report - Click Here: 2019 1st Quarter Real Estate Report

This quarterly report will chart inventory levels, sales, days on market, prices, and much more. I believe you should always know the facts about the market in case you may be thinking of buying or selling anytime in the near future.

In many neighborhoods and buildings, we are seeing a lack of inventory. In those cases, we have been able to get high prices for our clients who listed their property with us. 

The NEW construction market still remains strong, yet the prices of new construction homes have increased to a point where we may see a slight slowdown in that segment of the market. We will keep our eyes on this.

Some Notable Numbers:

Residential Homes

- List Price versus Closed Price: 97.4%

- Average Sales Price: $255,246

- Average Days On Market: 141

Condos

- List Price versus Closed Price: 95.9%

- Average Sales Price: $147,650

- Average Days On Market: 133

I am receiving a lot of requests for market updates on specific neighborhoods, buildings, and individual properties. Please let me know if you would like to know what is transacting where you currently own.

I provide these updates with no obligation. I just want to make sure that property owners are informed. 

Too often, property owners are going to the internet to see what their property is worth. Zillow seems to be a favorite site for owners to check their "Zestimate". I think this tool has some value, but I have recently seen properties listed For Sale By Owner or with agents based on the Zestimate. However, they sold for less than the real value of the property.

I have seen properties sell, and the next week the Zestimate says it is worth less than it just sold for. Basically, online estimates are still not accurate enough to rely on at this time.

I suggest you let me know anytime you want to know what a property is worth. We will run a report and send it to you. I have seen so many cases when the property will actually sell for more than the online estimate tools say.

Well, I hope the 1st Quarter of 2019 started as you wanted, and I hope the 2nd Quarter is better than you expect. The Harrelson Group remains committed to helping property owners understand the market. So let us know if you have any questions or anything we can do for you.

~Greg Harrelson