Home Sales for 2007 In Princeton Place, Little River, SC

Real Estate Broker/Owner with Buyers' Choice Realty

Princeton Place Subdivision, Little River, SC

Home Sales for 2007


Princeton Place, a cute, little subdivision of about 100 homes, located on the North end area of the Grand Strand, has always been a favorite of mine because of it's proximity to the beach (only a 3-4 minute drive) and it's unique flavor.  With rolling hills and curving streets, plenty of trees and colorful patio homes, Princeton Place is a perfect enclave for the second home buyer, the retired couple, or the one parent family.  The homes are 16-20 years old, "patio style" (stick built on monolithic slab), mostly two bedroom, two baths, with small yards.  Some of the lots back up to the Preserve, some adjoin the lovely lake adorned with a fountain, and some back up to the little creek, which is navigable and spills into the Waterway.  It is a charming neighborhood, bubbling with kids and activity (two of the three schools are within walking distance, and all three are only a 2-5 minute drive). 


In February 2004, I broke the $ 100,000 barrier for Princeton Place, by representing the seller in the transaction of a 3BR/2BA home, for, at the time "unheard of" price of $ 102,000.  Since then, prices and sales activity have varied greatly, mirroring the ebbs and flows of the Myrtle Beach market.  Studying the prices and activity of Princeton Place is a good vignette of the single family home market here at the beach.


2004 Sales Activity at Princeton Place:


Total Sales:                              12

Lowest Price:                          $ 84,000                      2BR/1BA Home

Highest Price:                          $ 114,400                    3BR/2BA Home




2005 Sales Activity at Princeton Place:


Total Sales:                              7

Lowest Price :                         $ 94,500                      3BR/2BA Home

Highest Price:                          $ 129,000                    2BR/1BA Home




2006 Sales Activity at Princeton Place:


Total Sales:                              11

Lowest Price:                          $ 125,000                    2BR/2BA Home

Highest Price:                          $ 177,500                    3BR/2BA Home




2007 Sales Activity at Princeton Place:


As of December 28, 2007, when this report was compiled, here is the activity of Princeton Place for the entire year of 2007:


We currently have two active listings, one priced at $ 149,000, for a 2BR/2BA home, which has been on the market since the beginning of July, when it was listed for $ 900 more.  Since then it has had two price reductions: one for $ 400 and another price reduction of $ 500.  The other home for sale is a 3BR/2BA home priced at 164,900, initially offered at the end of August for $ 174,900, now reduced by $ 10,000 and still on the market. 


In 2007, the listing prices at Princeton Place have ranged between $ 148,000  to $ 179,900.  Four listings were withdrawn, and five listings expired. 


In 2007, only one home was sold at Princeton Place.  It was a top of the line, completely updated home, beautifully decorated, 2BR/2BA home, complete with a sunroom, large back deck and fenced in yard.  It was offered at the lowest price of $ 148,000 and had a contract pending on it in less than a month, closing within less than two months for $ 143,000.


Anyone interested in "speculating" in the Myrtle Beach area, should seriously consider Princeton Place as a good choice for investment property.  With it's proximity to the Beach and all the schools, a good demographic mix of inhabitants, Princeton Place should do well long term, and you could probably solidify a good buy.  Follow this subdivision, as the homes become available for sale and make an offer. 


With low HOA dues (only $ 23 per month), a community pool and cabana, located only yards away from the city of North Myrtle Beach, but without the extra taxes of North Myrtle Beach, Princeton Place is perfect for the "cost conscious" consumer.  Some of the homes rent for $ 795 - $ 1,200 per month.


For more on my theory of "Paralysis in Real Estate, the Calm Before the Price Plummet", please read my blog at:  http://activerain.com/blogsview/223105/Listing-Agents-in-La







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Comments (2)

Mirela Monte
Buyers' Choice Realty - North Myrtle Beach, SC
Myrtle Beach Real Estate

If each agent member posted a similar report on only 5 different subdivisions in his/her area of expertise, we could provide Localism and the public some invaluable information and position ourselves correctly in our areas of expertise.

Dec 28, 2007 04:29 AM
steve nehez

Dear miss Mireal,

As a previous Board member and president of the princeton place hoa at the time your artical was written, I would like to ask your opinion on direction for our commuity. I am once again elected to serve and we as a board have plans to improve the values of our neighborhood that has been hit hard by the past finacial crisis.

Many obvious problems exist that we have plans to address but an overall insight from you would be appriciated.


Thank you

Steve Nehez


Feb 11, 2013 05:53 AM