Tuesday, July 31, 2012

"So how IS the real estate market"

Are you getting tired of answering this question?  How do YOU answer it?  My response has always been, depends on whether you're a Buyer or a Seller.  If you are a Buyer then it is a GREAT time to buy - low interest rates + low prices =  GREAT VALUE.

If you are a Seller - If you don't have to sell, then its probably not a good time to put your home on the market, however, if you NEED to sell then PRICING is key.

According to Realtor.com inventory is declining on a national level and also in our market.

People are searching the # 1 web site for property in Myrtle Beach.  In May we ranked #75 and June #70.

The activity has definitely increased in the Myrtle Beach market.  I have seen increased showings, more inquiries and yes - contracts are being written.  It is still a Buyer's Market and will continue that way until we see substantial declines in inventory.

As of this morning, there are 4218 active residential listings-3776 have no stipulation of sale and 3,802 active condo listings in our MLS 3,433 have no stipulation of sale*.

*(Stipulation of sale = Foreclosure, Bank owned, REO, short sale)

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