Listing Updates

***Just Reduced***

The seller of 6804 North Ocean Blvd., Unit 1107, Myrtle Beach (the Monterey Bay Resort) has reduced his asking price to $155,000. This condo is a one bedroom with an angled ocean front view. The seller is very motivated. Call today for details if you are interested in owning a condo in Myrtle Beach.

Alexis Drive, Longs (Polo Farms Community)

The three bedroom, two bathroom home located on Alexis Drive in Polo Farms has been taken off the market.

November MLS Stats

I defined residential homes as single family detached homes and single family new construction as these are the most popular residential properties.

Total Active SFH - 5,065
Average Listing Price - $496,498
High Price - $26,500,000
Low Price - $15,000

Total Pending SFH - 545
Average Listing Price - $291,779
High Price - $3,195,000
Low Price - $32,500

Total Sold SFH - 279
Average Sold Price - $281,954
Average List Price - $303,474
High Price - $1,900,000
Low Price - $5,000

New SFH Listings Added in November - 740

As you can see with the number of sold listings versus total listings, the Myrtle Beach market is a Buyers' Market. Currently, we have over a year supply of single family homes to sell. However, when you compare the sold price versus the list price, homes are selling for an average of 93% of the listings price. This percentage is slightly lower than in months past.

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The condo and townhouse category includes condos, townhouses, 1/2 duplexes and new construction projects.

Total Active Condos/Townhouses - 7,246
Average Listing Price - $284,619
High Price - $2,900,000
Low Price - $48,000

Total Pending Condos/Townhouses - 1,245
Average Listing Price - $298,922
High Price - $849,900
Low Price - $49,000

Total Sold Condos/Townhouses - 38
Average Sold Price - $340,715
Average List Price - $342,223
High Price - $710,000
Low Price - $78,500

New Condos/Townhouses Listings Added in November - 755

The condo market is similar to the single family home market in that we currently have a high level of inventory. Our sale price versus list price is holding high. Sellers are receiving, on average, 99.5% of their listing price. While our listing inventory has skyrocketed, Sellers are receiving a higher percentage of their listing price.

Listing Update - The Landmark Resort

My listing, Unit 514, at The Landmark Resort has had a price adjustment. The asking price has increased to $82,000. If you have any questions about this property or any other property, please call me at (843) 267-2710 or email me at Kathy@KathyRukat.com.

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Listing Update

The price on Unit 621 at The Caravelle Resort has been lowered to $144,900. If you have any questions about this condo, please give me a call at (843) 267-2710 or send an email to Kathy@KathyRukat.com.

2007 Market Compared to 2006 Market

Many people ask, "How is this market compared to the market last year?" The short answer is the market is down from last year. More specifically, the Single Family Home market is down by 25% and the Condo market is down 65%. Keep in mind that our market does have some foreclosures and short sales. Those two factors can skew the numbers.