Myrtle Beach Real Estate January 2022

Will Myrtle Beach Real Estate Remain hot?

Attention Property Owners:

What the real estate market be like in the future seems to be a common question.

My short answer is, the market should remain extremely active. Personally, I sold 2 properties yesterday that sold for over full price, had multiple offers, and sold in 36 hours. That’s a hot market!

Key local real estate factors:

1. Interest rates have risen and we are told they will continue to rise
2. Inventory is under 2 months of supply. 
3. Prices are stable and in some cases increasing.
4. Condo sales are booming.

Overall, I believe 2022 will be another great year for sellers. Low inventory always favors the seller and we don’t see inventory relief anytime soon.

As a buyer, you want to purchase now because the cost of borrowing money is increasing and could cost you thousands in additional interest payments.

The main thing supporting the seller's market is inventory shortages and the only thing we see that could influence a softer market is if fewer buyers can get loans because of the changes with rates. We need to keep our eyes on this.

If you are going to sell in the next 6 months then please email me and I can update your home price estimate and let you know what a buyer will pay at this time.

We do have buyers on a waiting list.

I am thankful that we can be your real estate resource, so please let us know how we can best help you with any real estate needs.

~Greg Harrelson

Additional resources:

Blue Granite Mortgage: Refinance and lending options 

Hoffman Home Inspections - Determine the health of your home