Lately all we have heard in the news in how bad the economy is and how real estate is struggling in the country. However, what we should focus on is the fact that real estate is local. There have been many changes along the Grand Strand over the last five years. Unrealistic pricing and refinancing from 2004-2008 created an unrealistic market.. so where do we stand now in Murrells Inlet, Conway, and Myrtle Beach?
Conway, SC: in 2009 1207 homes were listed and in 2010 1212 homes were listed. This number will show you that the market has not changed that much and there is not many more homes on the market than last year. In 2009, 412 homes were sold and in 2010, 482 homes were sold in Conway- that is a positive 17% increase in home sales in Conway. What is an even better is that from 2009 to 2010, homes sold for only 3.2% less than the price they were listed for. In the condo market, we see that 1 more condo was sold in 2010 than in 2009 and there were 30 more listings.
Murrells Inlet , SC - we see much of the same. In 2009, there were 143 homes sold while in 2010, 272 homes were sold. That is an amazing improvement of 90.2% . In 2009, there were 537 new listings, while in 2010 that number went up to 624. Murrells Inlet Condo sales went up an amazing 90.2% from 143 condos sold in 2009 to 272 being sold in 2010. Myrtle Beach Real Estate numbers also show us that 2011 will be a great year for real estate along the Grand Strand. In 2009, there were 2,798 new listings while in 2010 that number went down to 2,651. The number of closed sales was also good news in 2009: 1,060 homes closed while in 2010 we saw an increase of 1.5% as 1,076 homes closed.
Myrtle Beach like the other areas along the Grand Strand also saw a nice rise in condo sales. Myrtle Beach saw a rise of 27% as 1,524 condos sold in 2009 and 1,935 were sold in 2010. I now see individuals who never thought the dream of owning a condo overlooking the ocean purchase an investment property so they have their own little piece of the beach.
So what does this all mean? What is means is that the Myrtle Beach real estate market is still transitioning to a "normal" market, and we are seeing improvements. There is no better time than now to talk to a real estate professional about your next property purchase, or putting your current property on the market. For purchasing properties for 40-50 cents on the dollar as compared with years ago, options are endless. Visit www.myrtlebeachrealestatetoday.com/ for all Myrtle Beach homes, condos, foreclosures and short sales. 
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