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Single Family Homes
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!
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Surfside Beach is located just south of Myrtle Beach SC. It's a smaller town without the hustle and bustle of larger cities in the area, which makes Surfside Beach real estate highly desired. Surfside amenities are great dining, fishing from a pier, theater, water park, and a spectacular beach.
This area is great for anyone wanting all the amenities of Myrtle Beach, but want to live a relaxing and calm life. Surfside Beach real estate goes very fast, due to it's easy living and its selections of amenities. They offer many types of property, including homes, town houses, apartments, and condos. No matter what you're looking for they will have something that will catch your eye, whether it's in the country, beach front, ocean front or in a community, they have you covered.
If you're in town during the holiday season, you may enjoy The Carolina Opry ChristmasSpecial. On November 23rd at 7 pm the festivities start. The whole family can enjoy an incredible performance of dancing and singing.
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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!
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