From the weather prospective, January is the coldest month of the year but it's surprisingly hot for real estate sales. Check out the stats in my article about seasonal sales volume - the truth might surprise you.

It is a fact that January is generally the slowest month of the year for tourism but the Grand Strand is by no means deserted. There's still plenty of activity, as detailed below in "Snowbirds, Golfers and Debates".

This is a busy time of year for me as well. I'm currently working on several projects that should enable me and my team to improve the level of service we are able to provide for our customers and clients. My website (which crashed and was partially rebuilt about this time last year) is being dramatically improved and expanded. I am also implementing new technologies which should result in faster response times and more complete service.

One new service that's ready to go is an iPhone app (Iink in the margin of this newsletter) that will allow you to search our MLS and request info on the go (sorry, no Android or Blackberry versions yet). I personally don't have an iPhone so any feedback would be appreciated.

Let's all have a great 2012!

Many of the live theatres and a few restaurants and hotels take winter breaks during January but fewer and fewer take this step each year. One reason is that January and February are the peak months for "snowbirds", northern residents who stay on the Grand Strand for several months each winter. These visitors flock to the early bird (no pun intended) and two-for one offerings that many of the local restaurants serve up this time of year. They also frequent local golf courses and other attractions, providing much needed business.

There are also quite a few golfers that visit during January and even more during February. The weather most days is still suitable for outdoor activities and the rates for golf packages are at their lowest.

Weekends are busy if the weather forecast is favorable. Also, special events and holidays occasionally generate crowds rivaling summer levels. The week between Christmas and New Year's seemed like a spring weekend, with temperatures in the 70's and local restaurants and nightclubs packed with tourists and locals.

One special event that was a great success was the Republican Presidential Candidate Debate that was held at the Myrtle Beach Convention Center on Monday, Jan. 16, which was also the Martin Luther King, Jr. holiday. In addition to the entertainment and informational value of the lively debate (which proved to be pivotal in the SC Primary), the event provided super exposure for our area.   

GOP Puts Spotlight on Grand Strand   

Many Eyes on Myrtle Beach for Debate 

This is not the first debate of this kind to be held in Myrtle Beach. The Republican and Democratic candidates both held debates here in 2008. 

Below are links to several detailed reports on the current state of our local real estate market complete with statistics for just about anything imaginable.  Please keep in mind that these statistics cover a broad range of properties and that particular areas or developments may behave quite differently. 

My comments:

The attached reports are more of the same compared with recent months - which is not necessarily a bad thing.

As I have been saying to my clients and also in these newsletters, the available inventory is clearly declining. In fact, the Site Tech Grand Strand Market Report notes that this is the seventh straight month of declining inventory for both houses and condos in our market. My personal observations are in agreement with these stats.  

The CCAR Monthly Indicators report states that 2011 was another "Transition Year" rather than a "recovery" year. I agree with this assessment as well. Prices have stabilized for most developments and subdivisions but have not really turned the corner and started rising yet. The shrinking inventory and the continually increasing buyer interest are, however, good signs that at least modest improvement is not too far away. The last paragraph of the Monthly Indicators report sums it up well:  

"Ultimately, the upcoming spring market should be a major tell about the future direction of housing. Sellers are seeing multiple-offer situations; buyers are seeing sub-4.0 percent loans; supply-demand trends are more balanced. When it gets down to it, that's a stable foundation and a far cry from 2009. While the fundamentals are better, the foreclosure situation and political unknowns remain wildcards. For now, enjoy the fresh canvas"