Myrtle Beach Real Estate by Mirela

Myrtle Beach Oceanfront Slaughter Fest:

Baywatch Resort in North Myrtle Beach SC



My, what a difference four years make…  Our oceanfront condo prices have been sliced and diced. 


Take Baywatch Resort for example.   In 2005 a one bedroom oceanfront condo was selling for $330,000.  This year, my Buyer client garnered the same unit for only $110,500.   Sure, it was a bank foreclosure and my Buyer paid for it in cash, but nothing other than the timing was different.  Same condo, different year.  Discount: about 66%!!!


This is not an isolated case.  We’ve had a slaughter fest on Myrtle Beach Real Estate this year.   To illustrate my point, I am submitting the evidence: a side by side comparison of 2009 and 2005 prices and activity at Baywatch Resort:


Baywatch Resort – 2009 Sales Activity vs. 2005 Sales Activity:

                  

2009:                                                                          2005:

Size:

Sold for:

 

Units sold:

Sold for:

Units sold:

Efficiency

$63,000

 

1

$100,000-$230,000

13

1BR/1Ba

$110,500-$175,000

 

23

$211,000-$330,000

48

2BR/2BA

$209,000-280,000

 

12

$340,000-$540,000

25

3BR/2BA

$241,200

 

1

$425,000-$600,000

5

                                                                                                                                     


Mirela Monte, Your Myrtle Beach Oceanfront Realtor                           

 

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Comment balloon 7 commentsMirela Monte • November 24 2009 09:47PM

Comments

Hard to believe, but true! 

Posted by Mirela Monte, Myrtle Beach Real Estate (Buyers' Choice Realty) almost 11 years ago

Hello Mirela and it is amazing and Vegas is very similar, do you think the prices will go down anymore? And it really looks like you have some really great deals to be had in Myrtle Beach!

VB ;o)

Posted by Robert Vegas Bob Swetz almost 11 years ago

Incredible, and it is hard to believe we do not have more buyers out there with great rates, and fantastic deals!

Posted by Ellen Crawford, Alpharetta Real Estate Agents & Alpharetta REALTOR (Maximum One Executive REALTORS®) almost 11 years ago

Hi Mirela... YIKES! I can't believe this, but it's a compelling case right before my eyes.

Posted by Steve Shatsky almost 11 years ago

Mirela, the non-age restricted communities in Surprise is experiencing similar trends.

Posted by Sun City Grand Homes Surprise AZ Real Estate Leolinda Bowers Designated Broker Leolinda Realty, Sun City Grand in Surprise Arizona (Leolinda Realty) almost 11 years ago

Hi Mirela,

I like it,great prices for this beautiful Oceanfront property.

This is it !

Posted by Eva Erdmann, interior decorator (Lion International Inc.) almost 11 years ago
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Posted by houpophrdtb over 8 years ago

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