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North Myrtle Beach Real Estate Market Update - June, 2011

According to recent statistics published by the Coast Carolina Association of Realtors, North Myrtle Beach has continued to outperform the Grand Strand real estate market. Closed sales of single family houses and condo/townhomes are significantly out pacing new listings.  The number of new listings on the market has dropped 17.1% resulting in less inventory while the number of closed sales has increased by 5% over the first quarter numbers.

The charts below provide you with 3 key indicators of the North Myrtle Beach Market.

 

For Barefoot Resort statistics or market information on your property simply use this link to contact us.

 
 
2011's First Quarter State of the Market Resort

First Quarter of 2011 Reports Significant Improvements in the State of the North Myrtle Beach Real Estate Market

HOME SALES UP!

2011's First Quarter State of the Market Report published by the Coastal Carolinas Association of Realtors contained welcomed good news for North Myrtle Beach homeowners. The first quarter of the year saw extremely encouraging changes in the percentage of closed sales in North Myrtle Beach, reporting an increase of nearly 35% in single family home sales.

INVENTORY DOWN!

In recent years, real estate inventory has reached all-time highs. However, in the first quarter of 2011, North Myrtle Beach, reported a 9.7% decrease in inventory from 2010. Lower inventory of total homes on the market translates to less competition between listings.

If you've been considering listing your home, this 2011 season may be a great time to do. If you'd like more information on current market reports in North Myrtle Beach, please contact an agent today!
 
The State of the Market Report

It's no secret that many area residents are concerned about the state of the area real estate market, which as most are aware, has been hit particularly hard by declining property values. However, there are some signs of both stabilization and improvement which may ease residents' minds a bit.
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Happy New Year!

On behalf of all staff here at Century 21 Barefoot Realty, we hope that you had a wonderful Holiday Season.
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