 2200 Premier Resorts Blvd North Myrtle Beach
South Carolina 29582 |
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USE CODE 9030 |
News Flashes
IMPROVED CONDOTEL FINANCING
Interest rates continue to drop and more options have become available. Contact me for details.
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Click on the "Calendar of Events" below for more happenings.
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Greetings from the Grand Strand!
Well, this is the newsletter you've been waiting for. After a couple of relatively light editions, this one is chock-full of meaty content. It's easy to find real estate reports for the nation, for the state, for our area, for one city or another, for all single family homes in an area, for all condos in an area, and so on. In, fact, I include reports of these types in all my newsletters, including this month's edition. Oceanfront condo sales, however, have not historically behaved the same as the overall market and they deserve their own report. Recognizing this, last year I provided a detailed analysis of the 2013 oceanfront condo sales.
This year I've expanded on this idea with "Everything You Ever Wanted to Know About 2014 Oceanfront Condo Sales". For 2014, in addition to breaking down sales by price ranges, number of bedrooms and total numbers of sales within 80-plus individual resorts ( including a number of prominent off-ocean developments), I've added historical data stretching back to 2003 to put today's numbers in perspective. I also examined the percentage of cash sales versus financed sales and the results might surprise you. Also included are the office rankings for condo sales for real estate offices in our area and, of course, the Hoffman Group came out on top again (15 years and counting!). Finally, you may want to check out my thoughts as to what last year's numbers mean to individual buyers and sellers.
In addition to my detailed report on oceanfront condo sales, I've included the 2014 "Annual Report on the Coastal Carolinas Housing Market", a comprehensive year- end report just published by our local association of realtors. In the accompanying article, I've summarized the findings and added a few comments.
With all the info included in these articles, I'll keep my other comments brief. The year got off to a fast start but the weather is having an effect just as it did last year. Sales activity seems to go up and down in an inverse pattern to the amount of snowfall in the East and Midwest. I guess it's hard to buy real estate on the Grand Strand if you're busy shoveling snow. We have no snow here but I could stand a couple of 80 degree days. Oh well, last year's tourism numbers look great and this year promises to be even better, there's lots of good news regarding commercial development and transportation, spring's around the corner and I , for one, am expecting a good year.
All the usual reports are included as well as this month's Best Buys (Some good ones!).
Come see me at the beach!
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Everything You Ever Wanted to Know About 2014 Oceanfront Condo Sales
 I mentioned in my Dec/Jan 2015 newsletter that the number of closed sales for oceanfront condos in 2014 was down slightly from 2013. There were 1118 sales in 2014 versus 1271 sales in 2013 - a 12% decrease. I stated that, from a historical perspective (the last 12 years or so at least), the decrease was a relatively incremental change. I also stated that the oceanfront condo market has been far less volatile in recent years. I did some research and came up with the charts below that appear to back up these comments. Click Here to Read Article |
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2014 Annual Report on the Coastal Carolina's Housing Market - Summary
 The "Annual Report on the Coastal Carolinas Housing Market", the annual report for all real estate sales in our area, was just published by the Coastal Carolina Association of Realtors. Here is a link to the complete report. Here are the most notable numbers and a few of my observations. Single Family Homes The total number of closed sales in 2014 was 6,266, an 8% increase over 2013. The numbers of closed sales for each of the last five years are included in the report. The lowest number was in 2010 when there were 3,638 sales. In the four years since then, the number of sales per year has increased by 72.2%. The median sales price was $182,149 in 2014, a 5.3% increase over 2013. The median sales prices for the last five years are included in the report. At the bottom of the market for single-family homes, in 2012, the median sales price was 160,000. In the two years since then, median prices have increased a total of 13.8%. Condos (All Types and Areas) The total number of closed sales in 2014 was 4,137, a -0.1% change from 2013 (basically no change). The numbers of closed sales for each of the last five years are included in the report. The lowest number of sales was in 2010 when there were 3,274 sales. In the four years since then, the number of sales per year has increased a total of 26.4%. The median sales price in 2014 was $114,435, a 4% increase over 2013. The median sales prices for the last five years are included in the report. They are actually slightly lower now than they were in 2010, when the median sales price was $118,000. The prices bottomed out in 2012 and have increased 4.8% and 4.0% in 2013 and 2014 respectively. Please note that the numbers on this report include all condominiums in the area, not just oceanfront condominiums. I will analyze oceanfront condo sales in great detail in a separate article. |
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January Reports
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.
As always please contact me if I can be of service in any way. See link below to interpret terms used in these reports.
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News to You
 This new monthly newsletter feature shares press releases that caught my eye in the previous month. Here they are. (These articles are on my website under "News/Useful Info"). |
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Best Buys (My Picks)
 The following current listings are exceptionally well-priced and represent great values. The spreadsheets are sorted by price. These are live links to listing details and they will change according to changes in the MLS (Pending, Sold, etc.). The listing details are in the same order as the spreadsheets. Please call me directly if you find something of interest to you. OF/OV Homes Brochures: Link to Listings OF/OV Homes Spreadsheet: Link to Spreadsheet OF/OV Condo Brochures: Link to Listings |
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If you are considering buying or listing any property on the Grand Strand, or if I can be of assistance in any other way, please contact me. Also, please feel free to forward this newsletter to friends or acquaintances and of course I will be happy to add them to my email list.
Finally, please let me know if you are going to be in the area and would like to get together.
See you at the beach!
Gene Carter
Beach Pro Team
Cell Phone: 843-455-4785
Email: GeneCarter@BeachProTeam.com
Website: www.MyrtleBeachAdvantage.com
The material provided is for informational and educational purposes only and sometimes contains current or forward-looking statements on real estate market conditions, and should not be construed as legal, investment and/or real estate advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors, and is not necessarily the opinion of The Hoffman Group or its agents.
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