Myrtle Beach Real Estate Inventory Trends – August 16, 2012
August 16, 2012 By
For those who are considering buying some of the prime residential or condo real estate in Myrtle Beach, or maybe selling, what are the trends now that we are late into the summer months?
According to the Coastal Carolina’s Association of REALTORS Service (MLS) the inventory dropped about 8 percent, to 4,417 listings, for single-family homes, and a 12 percent drop to 4,392 listings, for condos and townhomes as of August 14, 2012 from the same time last year.
The decline in inventory listings is most widely considered due to many sellers in the Myrtle Beach area who are not very motivated to sell their properties based on today’s property prices. There is a wait and see approach until the market improves, according to Ben Guyton of The Hoffman Group.
The figures shown below continue to show support that the Myrtle Beach area in general still remains a buyer’s market. We believe this is primarily driven by price due to some distressed properties. This has also been the cause for a lower inventory of new properties coming on the market.
According to the Coastal Carolina’s Association of REALTORS Service (MLS) the inventory dropped about 8 percent, to 4,417 listings, for single-family homes, and a 12 percent drop to 4,392 listings, for condos and townhomes as of August 14, 2012 from the same time last year.
The decline in inventory listings is most widely considered due to many sellers in the Myrtle Beach area who are not very motivated to sell their properties based on today’s property prices. There is a wait and see approach until the market improves, according to Ben Guyton of The Hoffman Group.
The figures shown below continue to show support that the Myrtle Beach area in general still remains a buyer’s market. We believe this is primarily driven by price due to some distressed properties. This has also been the cause for a lower inventory of new properties coming on the market.
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