Myrtle Beach Condos - Market Activity for the past 3 Months - March 1 - May 30, 2009

Active Listings:                       7,165                    100%  Total inventory

Sold:                                           638                       8.90% 

Pending Financing:                  485                       6.77%  of the inventory

Pending Cash Terms:              139                        1.94% 

Contingency Contracts:           48                         0.67%

On Hold:                                     56                         0.78%

We are currently selling 2.97% of our condo inventory per month.  At this rate, it will take almost 2 years and 10 months to deplete our inventory, a full 7 months above the time on the market in the Homes category.

Condo Sales - The Cheapest and the Most Expensive Sold in the last 3 months:

The least expensive:  $12,500 for a 450 sq.ft. Bank Owned Oceanfront efficiency (studio) located at M Grand in Myrtle Beach. This unit was fully furnished and lovely and needed minor TLC.  It sold for cash at the end of March.

The most expensive:  $900,000 for a 4.465 sq.ft. brand new Lakefront 4BR/4BA condo at the Reserve at Harbor Club Villas in Pawleys Island.

It sure is surprising what your money can buy at the Beach right now, isn't it?

Mirela Monte, Your Myrtle Beach Real Estate Connection