Friends & Clients,
Where ever you are from, I hope the worst of the winter weather has passed! It is looking nice for the foreseeable future here in SC with day time temps this week in the 70s. We are ready for May and then onward to summer.
Busy weekend in town, the Wings Over Myrtle Beach air show is this weekend with the Blue Angels putting on quite a performance, 3 of us at Modo are on a 20 person team competing in the Dragon Boat Races at Market Common, one of the biggest charity fund raisers of the year in town.
I know many of you like the regular monthly statistics provided below and the “deals of the month”, but if you are interested in more timely deals and just overall updates on the Myrtle Beach area be sure to find us on Facebook, link below but we are really trying our best to provide consistent, relevant updates on not only the real estate market but just the growth and progress with the area on almost a daily basis.
March Sales Stats:There were 1457 total closed transactions and just over $309 million in closed volume. The average days on the market was 159, avg closed price of $212,189. The high sale was a 28,000 medical office that sold for $8.2 million, the Market Common area has continued to show extremely solid growth with a 17 acre tract of land selling for $3.5 million, then another 4 commercial sales from $1.1-$2.3 million drove the higher end sales, driven by the areas population growth, the commercial market should continue to flourish. Residential homes accounted for 786(54%) of the sales while condos accounted for 495(35%). Not surprisingly this time of year 165 of those 495 condo sales were in oceanfront or oceanview buildings as buyers jump in before the income ramps up. Bank owned foreclosures totaled 43 sales, and short sales, only 5 closed transactions in March.
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 should pull up in the link below)
$49,600 – 13.69 Acres, Bank Owned…Looking to park some cash and buy land for long term investment, in the Aynor area where the next 10 years of growth in the County is expected
2BR/2BA – $54,900 Bank Owned condo in Cypress Bay(Little River, SC), needs some work but good upside
2BR/2BA - $89,900 – Located on the River Oaks golf course, needs some work but good location for the $
Income Producer – Oceanfront 1BR in the Compass Cove Pinnacle Tower, #758, $116,900, 2017 gross income 30K+
Bank Owned 3BR/2BA home in Berkshire Forest, $215,500, in great shape, nice pond views
Unique 3BR/3BA lockout oceanfront corner unit in the Breakers Boutique aka The Strand, 70K+ in gross income last year, $295,000
Bank Owned impressive home in Plantation Lakes, 4BR/4BA, 4000+ sq ft, boat dock, pool, $717,700
Oceanfront Home in Surfside, 4BR/4BA, $795,000 for a direct oceanfront home
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Remember our sellers ONLY pay a 1% Seller Side Commission, love to talk with you about your home or condos value if you currently own something in town.
Broker In Charge
Real Estate Modo