January Real Estate Report Myrtle Beach

Dated: January 31 2018

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Friends & Clients,

I hope you and your family are off to a great 2018. After getting through some of the unseasonably cold weather for us and the South in general we are looking forward to February! Business has been great so far in the new year as it typically does continue to get hotter and hotter as we approach the spring in the world of real estate.

Look for some exciting new updates in February from Modo. We are expanding our reach beyond the typical second home and investment properties to offer our 1% seller side commissions to all property types in the area. Big changes and additions to our Social Media platforms that should help with more helpful info on the area, overall updates on the general growth of the area and business changes, Facebook Live Videos of our new listings and much more!

Whether you are looking to buy before the prices peak or want to explore listing your property and evaluate selling prices, values and when we recommend hitting the market, connect directly with us to begin that search or get a quick free valuation of your property.

December Sales Stats: There were a total of 1,333 closed transactions and $280 million in closed volume last month. The average days on the market was 146, avg closed price of $210,540. Total of 713 single family/detached homes sold, and 436 condos. 26 total foreclosure sales and 5 short sales. Check out the stats below on total distressed inventory sales for the year, as that segment of the market continues to decline rapidly. As of 1/30/18 there are 9,665 total “active” or available listings for sale, with 2,836 pending/under contract.

Interesting 2017 Year End Stats(recording thru the MLS), for our Horry & Georgetown Co Markets:

  • Total Transactions – 17,311

    • Foreclosure Sales – 482, less than 3%

    • Short Sales – 118, less than 1% of total sales

  • Total Volume - $3.38 Billion Dollars in Sold Real Estate(again this is recorded thru the MLS, probably another 20% of private transactions)

  • Volume Per Category:

    • Homes – 9,004 sales for a total of $2.27 Billion

    • Condos – 5,876 sales for a total of $899 Million

  • Avg Sold Price - $195,251, Avg Days On the Market 159

  • Transactions Over $1m – 126

My Deal(s) of the Month: As always, a “deal” depends on a number of factors based on what you are looking for in a property, be it for personal use, rental income, appreciation etc. We can get you all of the details on anything that you see below or if we can build you a custom search, just let me know. All of these have hit the market recently.

  • 96K – Oceanfront 1BR, 26K+ in gross income – Monterey Bay on 68th Ave N. Great location, 4th floor oceanfront #433, and price/income ratio

  • Large true 1BR, floor to ceiling glass with this oceanview 1BR on the 19th floor in the Carolinian Resort #1936, $139,900.

  • Bank Owned 3BR – Magnolia Pointe(Myrtlewood), great lake views from the 3rd floor, elevator building, $139,900.

  • BIG Fixer Upper in Downtown Conway, SC – Near history downtown, CCU, 4BR/3.5BA, over 3000 sq ft, NO HOA. $180,000!

  • 2BR Oceanfront Lockout, Bay View Resort #307 A/B - $239,000, 51K+ in gross income

  • Best Priced/Only home in Antiqua – Tucked away secret in Myrtle Beach, SUPER location off of 79th Ave N, 3BR/3BA, 309K. 2nd home close to the beach or great retirement home

  • Bank Owned – This one is unique, Windy Hill section of North Myrtle Beach, can be a duplex type of setup, with a pool. 2 blocks to the beach, 5BR, 4.5BA, 4000+ sq ft, $389,900

  • Oceanfront in the prestigious Briarcliffe Acres, got to be one of the best oceanfront deals, 4BR/4BA, 4500+ heated sq ft, 6000+ overall. Sort of a contemporary + 1980’s feel. $1.797m.

Here are all of these above, in order of price - Click Here to View Listings

Let us know if we can help with more details on any of these or just generally with anything in the area. Kick off your own search at www.realestatemodo.com


Get a free property value estimate at: http://www.realestatemodo.com/sell.php

Look forward to hearing from you.

Brian Piercy

Broker In Charge



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Brian Piercy

Only 1% of all real estate agents in the US sell more than 50 properties in a year. In 2020, Brian sold 118. In the top 1% of all agents in the area, Brian has been a local resident of Myrtle Beach an....

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