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                           

 

 

 

 
This post has been included in South Carolina Real Estate News Horry County, SC Real Estate News North Myrtle Beach, SC Real Estate News
Post is included in group: Market Reports
Post is included in group: Market Updates
Post is included in group: MYRTLE BEACH Real Estate and Vacations
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7 Comments on Myrtle Beach Oceanfront Slaughter Fest:

NOV
24
2009
490,433 Points 36 Featured Posts Outside Blog

Hard to believe, but true! 
9:49pm • #1
1,156,973 Points 17 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Hello Mirela and it is amazing and Vegas is very similar, do you think the prices will go down anymore? And it really looks like you have some really great deals to be had in Myrtle Beach!

VB ;o)
9:52pm • #2
421,343 Points Called Shot Master

Incredible, and it is hard to believe we do not have more buyers out there with great rates, and fantastic deals!
10:47pm • #3
725,720 Points 63 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Mirela... YIKES! I can't believe this, but it's a compelling case right before my eyes.
10:52pm • #4
567,295 Points 45 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Mirela, the non-age restricted communities in Surprise is experiencing similar trends.
11:41pm • #5
NOV
25
2009
112,355 Points

Hi Mirela,

I like it,great prices for this beautiful Oceanfront property.

This is it !
5:14am • #6
APR
21
2012
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11:27am • #8


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Myrtle Beach Real Estate by Mirela Monte

Myrtle Beach, SC

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Mirela Monte, Your Myrtle Beach Real Estate Connection

Address: BUYERS' CHOICE REALTY, 702-3 Sea Mountain Hwy., North Myrtle Beach, SC, 29582

Office Phone: (843) 280-7283

Cell Phone: (843) 251-2378

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