About Horry County, SC

Myrtle Beach Real Estate Market: October 2007 vs. October 2009

Single Family Homes

2007 2009

Available for sale: 6,360 6,227

Sold during October: 287 312

2007: 4.51% of the home inventory was sold during October. At this rate, we'll need over 22 months to sell out of our current inventory of listings.

2009: 5.01% of the home inventory was sold during October. At this rate, we’ll need almost 20 months to sell out of current inventory.

Conclusion: A home now sells two months faster than it did in 2007. The time it stays on the market is over a year and a half. We have a similar home inventory as we did in 2007 (available homes for sale).

Condos

Available for sale: 8,840 6,182

Sold during October: 362 288

2007: 4.10% of the condos were sold during October. At this rate, we'll need over 2 years to exhaust our condo inventory.

2009: 4.66% of the condos were sold during October. At this rate, we’ll need about 21.5 months to exhaust our condo inventory.

Conclusion: We now have over 30% less condo inventory available for sale than we did in 2007. Condos now sell about 3 months faster than they did in 2007.

Land

Available for sale: 5,670 5,216

Sold during October: 72 53

2007: 1.27% of our land inventory was sold during the month of October. At this rate, we'll need over 6.5 years to exhaust the existing inventory.

2009: 1.02% of our land inventory was sold during October. At this rate, we’ll need over 8 years to exhaust the exiting inventory.

Conclusion: Although we have 8% less inventory, it now takes 1.5 years longer to sell out of the land inventory than it did in 2007.

Multi-Family

Available for sale: 147 162

Sold during October: 4 2

2007: 2.72% of our multi family inventory was sold during October. At this rate, we'll need over 3 years to sell out of the existing inventory.

2009: 1.23% of the inventory has been sold in October. At this rate, we’ll need 6 years and 9 months to exhaust the current inventory.

Conclusion: Although we now have over 10% more inventory than we did in 2007, sales have been halved. It now takes 3 years and 9 months longer to sell out of the inventory than it did in 2007.

Grand Conclusion: Land is the most depressed Real Estate product in the Myrtle Beach Market, with a supply of over 8 years. Multi family is the next most depressed product with an almost 7 year supply (6yrs. 9mos). The condo market has 30% less inventory than it did two years ago and it’s selling 3 months sooner. The single home inventory remains virtually unchanged, yet selling 2 months earlier.

Mirela Monte, Your Myrtle Beach Real Estate Connection Proud Optimist!

Q. What’s the definition of mixed emotions? A. When you see your mother-in-law backing off a cliff in your new car.

Q. How do men sort out their laundry? A. Filthy, and filthy but wearable.

Q. What is the definition of the perfect woman? A. A deaf and dumb blonde nymphomaniac whose father owns a pub.

Q. What’s the difference between a new husband and a new dog? A. After a year, the dog is still excited to see you.

Q. What's the difference between roast beef and pea soup?
A. Anyone can roast beef.

Q. Did you hear about the guy who lost his left arm and leg in a car crash?
A. He's all right now.

Q. Where do you get virgin wool from?
A. Ugly sheep.

Q. Why do bagpipers walk when they play?
A. They're trying to get away from the noise.

Q. How do you double the value of a Geo Metro?
A. Fill it with gas.

Q. What's the difference between a porcupine and a Porsche?
A. The porcupine has the pricks on the outside.

Q. Why don't cannibals eat clowns?
A. Because they taste funny.

Q. Who is the poorest guy in West Virginia?
A. The Tooth Fairy

Q. What do you call a woman who knows where her husband is every night?

A. A Widow.

Q: How can you tell when a lawyer is lying?
A: His lips are moving.

Q: Why won't sharks attack lawyers?
A: Professional courtesy.

Q: What does a blonde say when you blow in their ear?
A: "Thanks for the refill!"

Q: What is it called when a blonde blows in another blonde's ear?
A: Data transfer.

Q: What did the blonde customer say to the buxom waitress (reading her nametag) ?
A: "'Debbie'...that's cute. What did you name the other one ?"

Q: Why did the blonde stare at the orange juice container for 15 minutes?
A: It said "concentrate".

Q: How do you keep a blonde busy?
A: Write "Please turn over" on both sides of a piece of paper.

Q: What's the difference between a girlfriend and a wife?

A: About 45 pounds!

Q: What's the difference between a boyfriend and a husband?

A: About 45 minutes.

Join us on The Optimist Group for LOL FRIDAY!

Myrtle Beach is known to many as a beach vacation paradise, which is very true, but it's also just as known for its championship golf. It's known as the Golf Capital of the World due to its 100 plus courses in the area, many of which were designed by professional golfers. If you want to play some of the best golf in the world, come to South Carolina and play some Myrtle Beach Golf.

Myrtle Beach golf offers so many courses, its easy for any golfer of any skill level to find the course perfect for them. One thing you will notice when you play golf here is how the courses utilize the areas natural beauty. Some of the most scenic courses are Dunes Club, Tidewater, Rivers Edge, Marsh Harbor and Oyster bay. You can't beat the golf experience here in Myrtle Beach.

If you plan on playing golf towards the end of the year we got good news for you. When the temperature and humidity cool off the golf package discounts heat up. Take advantage of these great prices while they last!

 

Princess Juliana International Airport in St. Martin is the lowest landing airport in the World.  If you want to witness flight drama, just visit Maho Beach, which is located directly in the plane's path…  My daughter and I did just that.  Was it scary?  It was intimidating, to say the least...  Check it out for yourself!  It’s a show like no other!

Mirela Monte, Your Myrtle Beach Connection                      Join The Optimist Group!