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Home Myrtle Beach Real Estate - the Mid-Year Re...

Myrtle Beach Real Estate - the Mid-Year Report

Myrtle Beach Homes For Sale

The Mid-Year Report - 2010

Good news, apparently.

"Market Analyst Tom Maeser says single family home sales have gone up 29%, and condo sales have gone up 19%." Largely, because we have a lot of 2nd home buyers in on the Grand Strand.

“We’re running 45% cash sales, so these are people that don’t need financing. They have been helping to make the Grand Strand market not too bad, we’re actually seeing a lot of activity,“ said Maeser.

He says 66% of the Grand Strand market is made up of investor properties with owners who can pay out of pocket."

But don't get too excited, the Banks are thwarting any real growth in the marketplace.
“Because these government regulations are getting tighter, it’s impacting purchasers here. So it’s hard to get a loan, and hard to get a building to qualify for mortgage,“ [Maeser] said.

So, as one considers short lived success on the Grand Strand, what do the numbers look like, neighborhood to neighborhood?

http://carolinarealproperty.com

ARE we doing any better? compared to the same 6 month period last year?


The black tube is the 2010 total solds which compared to 2009's orange tube shows that gains were only made in Carolina Forest and Surfside.

Sales outpace inventory/supply in Myrtle Beach, Carolina Forest, Surfside and Murrells Inlet - which should help reduce our absorbtion rates. The pending numbers look gloomy to me, but that could just be that closing periods have narrowed , which would make sense if most of our current sales are CASH. Those deals can close in 28 days or less!

Bargain hunters? Why not take a look at Garden City and Surfside - look how much they've got to move!

Posted Saturday Jul 10