Barefoot Resort condo sales up and active listings down
If you are keeping up with the real estate market in Barefoot Resort then you already know that there is very little inventory left for purchase. It is nearly impossible to find a home for sale in the resort that does not already have a contract. The condo market is very similar. As soon as a listing comes onto the Myrtle Beach MLS, it gets multiple showings and often an offer at an acceptable price.
Property owners inside the resort are happy to learn that inventory levels are low making their real estate worth more than it was a year ago. Barefoot resort is one of the few communities in the area that has seen increases in property values.
Of course, as soon as things get good....the developers move in to take advantage of the active market. For the first time in years, Barefoot Resort has three new developments popping up. There are cottage homes being built as well as new condo villas towards the Barefoot North Tower. There was once a failed community that is now being prepared for single family homes and there is rumor that another developer has purchased some properties in the rear to build more condos.
The importance of this information is that it will have an impact on the future of the real estate market inside the resort. Right now, property values have increased because of the lack of supply. WIth so much development in the horizon, we can only assume this will cause an increase in inventory which typically stops the upward trend. I wouldn't be afraid that the market is going to crash but I would keep my eyes open because we may have seen the recovery that we have been waiting on for 8 years now.
The next 6 months will likely be the best 6 months we have had in years. It will take this long for the developers to get their homes and condos built. Until then, sellers should be able to push the limits on asking and selling prices.
Let us know if you need help with your real estate needs.
We currently have buyers looking for homes for sale in Barefoot Resort so please let us know if you of anyone looking to sell.