Myrtle Beach Real Estate

Myrtle Beach Real Estate Sales for the 4-th Quarter of 2007

October 1, 2007 through December 28, 2007 Activity

Single Family Homes: 

Active Listings:                       6,150

Sold:                                        774

12.63% of our home inventory sold during the last quarter of 2007.  That’s 4.21% per month. 

At this rate, it will take about 2 years, to deplete our current home inventory.

Condos:

Active Listings:                       8,259

Sold:                                        775

9.38% of our condo inventory was sold during the fourth quarter of 2007.  That’s 3.13% per month. 

At this rate, it will take 2 years and 8 months to deplete our current condo inventory.

Land:

Active Listings:                       5,630

Sold:                                        190

3.37% of our land inventory was sold during this last quarter.  That’s only 1.12% per month.

At this rate, it will take 7.5 years to sell out of current inventory.

Multi Family:

(duplexes, triplexes, quads, apartments)

Active Listings:                       147

Sold:                                        11

7.48% of our multi family inventory was sold during this quarter.  That’s 2.49% per month.

At this rate, it will take 3 years and 4 months to deplete the current inventory.

Commercial/Industrial:

Active Listings:                       662

Sold:                                        19

2.87% of our commercial/industrial properties were sold during this quarter.  That’s .96% per month.

At this rate, it will take 8 years and 8 months to sell out of current inventory.

Market Over-All:

Total Active Listings (Available Properties for Sale)

In our MLS system:                                                       20,848

Sold Properties during the 4-th Quarter, 2007:             1,769

8.49% of all available properties within our local MLS, servicing the entire Grand Strand Area, were sold during this last quarter.  That’s 2.83% per month.

At this rate, it will take almost 3 years to sell out of our current inventory.

In other words:  Buy!  Buy!  Buy!   Now is the time to garner a good deal in one of the hottest real estate markets in the world.  God does not create any more Beach...  

Your Myrtle Beach Real Estate Connection, Mirela Monte