Real Estate In Myrtle Beach

Myrtle Beach Oceanfront Slaughter Fest:
November 24th, 2009 10:54 PM

Myrtle Beach Oceanfront Slaughter Fest:

Baywatch Resort in North Myrtle Beach SC



My, what a difference four years make… Our oceanfront condo prices have been sliced and diced.


Take Baywatch Resort for example. In 2005 a one bedroom oceanfront condo was selling for $330,000. This year, my Buyer client garnered the same unit for only $110,500. Sure, it was a bank foreclosure and my Buyer paid for it in cash, but nothing other than the timing was different. Same condo, different year. Discount: about 66%!!!


This is not an isolated case. We’ve had a slaughter fest on Myrtle Beach Real Estate this year. To illustrate my point, I am submitting the evidence: a side by side comparison of 2009 and 2005 prices and activity at Baywatch Resort:


Baywatch Resort – 2009 Sales Activity vs. 2005 Sales Activity:

2009:                                                                                           2005:

Size:

Sold for:

Units sold:

Sold for:

Units sold:

Efficiency

$63,000

1

$100,000-$230,000

13

1BR/1Ba

$110,500-$175,000

23

$211,000-$330,000

48

2BR/2BA

$209,000-280,000

12

$340,000-$540,000

25

3BR/2BA

$241,200

1

$425,000-$600,000

5


Mirela Monte, Your Myrtle Beach Oceanfront Realtor



Posted by Mirela Monte on November 24th, 2009 10:54 PMPost a Comment (0)

Subscribe to this blog
Recent Posts:
Archive:
My Favorite Blogs:
Sites That Link to This Blog:

 

Clicky Web Analytics Clicky Web Analytics


Buyers' Choice Realty
Phone: Toll Free Phone: Fax:

Myrtle Beach Homes | Mirela's Blog

Copyright © 2010 Buyers' Choice Realty
Portions Copyright © 2010 a la mode, inc.
Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site Map
All rate, payment, and area information are estimates and approximations only.



 
State:
County:
City:
Zip: