August Real Estate Report Myrtle Beach

Dated: 08/16/2017

Views: 120

Friends & Clients

I hope your summer is going well, its flying by here in Myrtle Beach, kids are back in school next week and the prime tourism season has already begun to slow a little. Next Monday’s Great America Eclipse event actually has causes for some higher than normal occupancy and higher rates for this weekend and next week. Awendaw, SC, an area just about an hour south of MB is one of the best locations in the US to view the eclipse.

We’ve completely revamped out website in order to make it MUCH more user friendly, initial feedback has been great. Check it out when you get the chance, the site will ask you to register with an email address after you’ve started check out properties but that gives you the ability to save properties.

Check it out: www.realestatemodo.com

YTD our sellers have saved well over $100,000 in commissions with our 4% listing concept, compared to the typical 6%. We’d love to help you if you are thinking of selling!

July Sales Stats:There were 1,333 total closed transactions and just over $251 million in closed volume. The average days on the market was 143(another decrease), avg closed price of $188,503(another increase). The highest sales for the month were two oceanfront homes, Garden City and Pawleys Island that closed for $2.1m and $2.2m. 430 total condo sales, with 114 of them being oceanfront or oceanview, 51 with golf course views. Overall single family home sales totaled 722 transactions, avg closed price of $235,943 and days on the market of 135. There were a total of 38 foreclosure sales and only 3 short sales closed for the month, more signs of decreasing distressed inventory.

My Deal(s) of the Month:As always, a “deal” depends on a number of factors with what you are looking for in a property, be it for personal use, investment etc. We can get you all of the details on any if you like what you read. I can’t guarantee they will still be available when you read this. Here are the details with some I like a lot this month. All of these have just recently hit the market! (In order of price, which is how they will pull up in the link below)

  • Just Listed – One of the flat out prices for a detached home in this market, $129,900, 3BR/2BA, brick, NO HOA

  • 1BR Oceanfront Condo – Located in the Savoy on 72nd Ave N, unique building with only 18 total condos, $129K, true 1BR layout, good income producer at 31K+ last year.(listing agent has no pics but we are scheduled to get some for our clients)

  • Bank Owned – 2BR/2BA in the Spinnaker in Windy Hill, NEEDS A LOT OF WORK, but lots of potential for a great 2nd home. I just looked at this one yesterday, $179,900 but it’s a Fannie Mae foreclosure and on the market for almost 4 months so should be ready for a low offer.

  • Bank Owned – Hard to find this price, this close to the beach for a 3BR/2BA home in the Shore Drive/Arcadian Area, $214,900, few hundred yards to the beach, rental income potential

  • Just Listed – North Hampton at Kingston Plantation, 3BR/3BA penthouse, one of the largest balconies you’ve seen, ocean, lake and sunset views, $369,000

  • Bank Owned – Debordieu Colony in Pawleys Island, one of the most upscale gated communities in this region, oceanviews from this home, 4BR/4BA, 3000 sq ft, looks to be in great shape for a foreclosure, listed at 849K last month, bank just dropped it to 799K

Click Here to View Listings

As always, please keep us in mind for any clients or friends you know that are looking to buy or sell in the MB area!

Be sure to check out the new website:

www.realestatemodo.com

Brian Piercy

Brian has been a local resident of Myrtle Beach and the Grand Strand for over 18 years. He originally moved to the area from Northern Virginia to attend Coastal Carolina University. After graduating w....

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