Myrtle Beach Real Estate by Mirela

Myrtle Beach – The State of The Condo Report


 

There are currently 6,453 active Condo listings in the Myrtle Beach MLS. 

 

During the past 90 days, 798 condos have been sold in the Myrtle Beach area.

 

At this rate (4.12% sales activity per month), it will take over two years to run out of inventory.  This is a significant improvement over past activity: the figures for August of last year indicated a 2.60% Condo sales activity, which translated into 3 years, 2.5 months to exhaust inventory.

 

Aside from the great improvement of our Condo Market, some specifics are worth noting:

 

Of these 6,453 listings, fully 850 (a whopping 13.17%) of them are spoken for:

 

426             pending financing

227              pending contingency contract

58               pending other contingency

139             pending cash terms                 

 

I have never relied on the media to tell me when it was time to buy.  I’ve always looked to the numbers for the truth.  These figures speak loud and clear:

 

This remarkable 13.17% “pending” activity, the highest we’ve had on condos in several years, clearly signals a shift.   If you are still sitting there in your easy chair waiting for some analyst to tell you it's time to buy, think again: You're already just a bit late, but if you hurry up, you'll still ride the wave!

Mirela Monte, Your Myrtle Beach Condo Connection                 


 

9 comments • Myrtle Beach Real Estate by Mirela Monte • September 09 2009 06:54PM

Comments

I wasn't that surprised by the figures; I've been working almost non stop this whole year.  I am ready for a vacation! 

...Wait; I remember: I just returned from one!

(Nice try, Mirela!)

Posted by Mirela Monte, Your Myrtle Beach Real Estate Connection over 2 years ago

Obviously I am not alone: check out the other agents signaling the same trend:

http://activerain.com/groups/SnapshotOfTheRealEstateMarket

 

 

 

Posted by Mirela Monte, Your Myrtle Beach Real Estate Connection over 2 years ago

Mirela

Thanks for the update, the inventory will continue drop.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig CRB, CRS, CIPS, GRI, SRES, TRC, e-PRO, (Ludwig & Associates) over 2 years ago

Mirela, it's happening here also. Inventory is dropping. Love the photo of the balcony on the ocean!

Sharon

Posted by Frank & Sharon Alters, CDPE-Short Sales Jacksonville-Orange Park-Fleming Island (Coldwell Banker Vanguard Realty - Clay, Duval, St. Johns ) over 2 years ago

Mirela, it's happening here also. Inventory is dropping. Love the photo of the balcony on the ocean!

Sharon

Posted by Frank & Sharon Alters, CDPE-Short Sales Jacksonville-Orange Park-Fleming Island (Coldwell Banker Vanguard Realty - Clay, Duval, St. Johns ) over 2 years ago

Mirela, it's happening here also. Inventory is dropping. Love the photo of the balcony on the ocean!

Sharon

Posted by Frank & Sharon Alters, CDPE-Short Sales Jacksonville-Orange Park-Fleming Island (Coldwell Banker Vanguard Realty - Clay, Duval, St. Johns ) over 2 years ago

Mirela,

Good move not to rely on the the media for any type of decision making news.   It is best to go and get your own research.  We all know how are individual markets are never reported on or even really understood like we know them.

Posted by Greensboro, NC Real Estate Larry Story's Blog of the Triad! (Total Care Realty) over 2 years ago

Mirela, I would be currious to see the List VS Sales price on these. Most areas I see the sold price VERY close to list... which tells me that the homes that are priced well are selling, while the over priced listings are just sitting. 

Posted by Robert Rauf (REMN - Real Estate Mortgage Network (NJ)) over 2 years ago

Mirela, this is a very good and interesting market report. I sounds like things are looking up and that is what we need to be telling buyers!!! And sellers!!

Posted by Caren Wallace-Portage Lakes Real Estate Agent (Stouffer Realty, Akron, Ohio) over 2 years ago

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