Myrtle Beach Real Estate

Homes in the Myrtle Beach Area: January and February 2009 Market Report:

We currently have 6,291 single family homes available for sale in the Myrtle Beach Area. Of these available listings, a total of 374 homes have been sold during the months of January and February 2009. That is a sales activity rate of 2.97% per month. At that rate, it will take us 2 years and 9 months to sell out of our current inventory.

Which price points have the most activity? Here is the break-down:

# Price Range: Available: Sold: % Sold per month:

1. $ 1,000-$99,999 413 45 1.22%

2. $100,000-199,999 1,846 171 4.63%

3. $200,000-299,999 1,502 93 3.09%

4. $300,000-399,999 835 26 1.56%

5. $400,000-499,999 475 14 1.47%

6. $500,000-749,999 490 9 0.92%

7. $750,000-999,999 283 7 1.23%

8. $1,000,000 & up 447 9 1.00%

The price point with the most available inventory is also the one with the best sales: the $100,000-$199,999 price point, which has a monthly sales activity of 4.63%.

The second most popular one is the $200,000-299,999 category with 3.09% monthly sales activity.

The Least popular price point in the Myrtle Beach area for January and February is the $500,000-749,999 category with monthly sales of under 1%.

Why is this pricing break down significant? For many reasons. Here is an example: if your home is priced at $305,000, your potential success rate of producing a sale is only 1.56%. Lower that price to $299,999 and your odds practically double.

Here is another example: if you are a buyer in the market for a $500,000 to a $749,999 home, you know you can be even bolder than the current market permits, for those sellers' odds are the worst right now and their motivation may be at a peak level.

If you are the seller of a home priced between $100,000 and $199,999, you are only looking at 1 year and 9.5 months of possible wait time versus the 9 years it would take a Seller of a home priced between $500,000 to $749,999, and that's a significant difference, don't you think?

Oh, so NOW, you're finally paying attention to the numbers?