Friends & Clients,Good afternoon from Myrtle Beach, we are in full summer mode here at the beach with hot temps, busy beaches and resorts. We have really ramped up our Facebook page with
March Real Estate Report Myrtle Beach
Friends & Clients
Welcome to spring from Real Estate Modo! Quick follow up from last month’s note, for those of you that feared for my well being during our Adventure Race. We survived, 67 total miles of running, kayaking and biking while navigating with an old school compass, our team(which included 2 of my fellow Modo agents, Dalton Dellinger & Jason Smith) finished in 3rd place in our category, just over 11 hours.
The weather is looking like it’s finally warming up, but it has not caught up to the hot real estate market this past month. We are seeing a pretty typical high volume of transactions, driven by the seasonality of the second home and investment market, properties that have been on the market for an extended period of time are selling and well priced listings are selling within just a few days.
We still have a good 30-45 day window to jump in before the summer income really shoots up! Connect with us on Facebook if you haven’t yet: https://www.facebook.com/realestatemodo/
Keep in mind that our seller clients ONLY pay a 1% seller side commission, pass it along if you know anyone thinking of selling.
February Sales Stats:There were 1162 total transactions and just over $227 million in closed volume. The average days on the market was 159 with the avg closed price of $195,514. The high sale was $2.31m for an oceanfront home on 47th Ave N in MB. Condos accounted for 421 of the sales, while 620 residential homes sold. There were 35 foreclosure sales and only 7 closed short sales. While it may seem like there is a lot of inventory on the market, the year over year level of inventory has continued to decrease since mid 2010. Feb year over year single family inventory was down 4% and condo inventory was down 18.8% compared to Feb 2017.
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.
COMING THIS WEEK - The super popular 3BR/3BA, oceanfront lockout in The Strand(aka Breakers Boutique), this is a rare unit type with 3 separate units that make up the complete condo, 295K, 70K+ in gross income, 17th floor. (We’ll have a video today but this is NOT included in the link below, email me if you want the link)
79K, Oceanfront Studio in the Landmark Resort, 22K+ in gross income
2BR TH, end unit, great rental, $92,500, 4115 Little River Rd in MB, needs a little work.
Bank Owned – 3BR/2BA home, “handyman special” $179,400 in Knots Landing off of 67th Ave N
Bank Owned – Best looking bank owned that I’ve seen, GREAT location near Kingston Plantation, and close to the beach 2BR/2.5BA $185,000
Beach side of business 17, rare to see this price for a detached home, in this top notch location, no HOA, super close to the beach, 229K – 5707 Springs Ave
Bank Owned – HUGE house in Prince Creek, 6000+ sq ft, 5BR/6.5BA, 579K
302 Kingston Rd, 5BR/4.5BA, steps to the beach BUT not in a flood zone, pool, 4500 sq ft+, amazing home, ready for an offer… $1.049m
If you have some specific criteria that you are looking for, just send your goals and we’ll put together some ideas.
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!
Brian has been a local resident of Myrtle Beach and the Grand Strand for over 20 years. He originally moved to the area from Northern Virginia to attend Coastal Carolina University. After graduating w....
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