Hey everyone! 

Well, the reality is that along the coast here in Myrtle Beach, we made it out of Hurricane Dorian quite well this past week....despite how some of the typical Weather Channel news makes it look like we were swept into the sea. Though, there was some fool that drove a Jeep onto the beach that went viral!

*courtesy CNN.com

From the initial reports that I am getting, most businesses were already up and running the next day! Some resorts are dealing with a little wind-driven rain that is being dried out but most should be up and running soon, if not already this week.   That being said, a hurricane scare (bad damage or not) does historically create a short window of deals for those motivated sellers that just don’t like the stress of what we (and everyone along the southeast & gulf coasts) deal with living at the beach during hurricane season!   I decided to do a quick look back at the 45 day period post hurricane for the last 2 that had a noticeable impact in the MB area. These examples would be Hurricane Matthew in September 2016 and Hurricane Florence in October 2018 compared to the same 45 day window from 2017 when we had minimal to no hurricane impacts - specifically looking at condo sales in oceanfront buildings only.

Hurricane Matthew 2016:

Avg. Sales Price 45 Days Post:

$192,000 & 135 Total Closed Sales 

Same 45 Day Period in 2017:

$211,000 & 174 Total Closed Sales

Hurricane Florence 2018:

Avg. Sales Price 45 Days Post:

$207,000 & 167 Total Closed Sales 

Same 45 Day Period in 2017:

$217,000 & 170 Total Closed Sales

While this is not an exact science, with this small sample you can see that properties have sold at HIGHER prices in the year with no hurricane issues. Also, I can tell you just from experience as the top selling oceanfront condo agent, we absolutely see more motivated sellers after a big storm and I expect to see that right now in the immediate 30+ days.   If you are interested in getting an update on the current inventory - oceanfront or even off the beach, let me know and we’ll jump in to work together! 

Feel free to email or call me directly, or for 2 other useful resources you can check out a 5-part video series we made to help you get into real estate investing and, also, an "Investor Profile" questionnaire to help flesh out your investment goals. Click the images below to see those!

Sincerely,
Brian Piercy
Broker in Charge
843.424.6560 (cell)
843.800.8484 (office)