2013 Home Sales Bargins in Murrells Inlet

If you’ve been looking to buy a home in the Murrells Inlet area finding a bargin can be a daunting task since house hunters snap up well priced properties in a matter of days.  Looking for a home on the beach might be where the real bargins can be found based on the latest sales numbers for homes on Garden City Beach in Georgetown County.

Home buyers in Murrells Inlet the first quarter of 2013 paid less than the first quarter of 2012 based on sales prices to date in the MLS for Murrells Inlet single family homes.  The Median Sale Price fell 15.5% while the Average Sale price shows a 12.1% decline for homes sold in the Georgetown County portion of Murrells Inlet where the MSP for all sales to date was $296,000.

Homes on the Garden City Peninsula on average sold at 73% of list price year to date while homes in Murrells Inlet sold at 93% of list price.  One ocean front property took over 1400 days to sale and closed at less than 50% of original listing price helping to pull down the list to sale price numbers.  No homes in the Murrells Inlet area sold above $1 million in 2013 while in 2012 there were 2 ocean front homes sold in excess of $1.3 million.

With 18 properties currently priced over $1 million there might be some opportunity to pick up a water front home at a bargin price especially with the recent sales on the beach that could indicate some overpriced listings and with the high market time these sellers might be ready to make a deal. Copyright©2013 Sandra Bundy, Broker-in-Charge, B&P,Inc.  Serving the Grand Strand and Pee Dee South Carolina.

Murrells Inlet home sales Market Update

Murrells Inlet YTD Home Sales

With 361 single family home listings in Murrells Inlet the number of homes available for sale has increased over 57% the last 3 months.  No doubt there are many choices in the Murrells Inlet market area.  With the average sale price down 6.8% over the same period last year price declines appear to be slowing and with limited REO and Short Sale listings we might see more price improvements in the next 3 to 6 months.

The current YTD average sale price in Murrells Inlet is $237,947 with and average of 202 days on market.  While the average sale price is on the high side there are many affordable homes available in the Murrells Inlet area priced below $200k.  If you are looking for a Murrells Inlet home start your home search online today.  Copyright 2012, B&P, Inc. Sandra Bundy, Broker-in-Charge.

 

Call Sandra Bundy today for more information on buying or selling your Murrells Inlet home.

 

Selling Your Murrells Inlet Home

Spring is just around the corner and typically means Murrells Inlet home sellers get ready to place their home on the market in order to catch the wave of home buyers that look for homes so a summer move won’t disrupt the school year.  In an area like Murrells Inlet and the attraction from resort and second home buyers typical might not hold true for that rule but the spring and summer months look promising for Murrells Inlet real estate.

The rent versus sell decision should not be taken lightly especially if your original purchase was in the last few years and you fully intended to keep the property.  Rental units are in demand in Murrells Inlet and along the Grand Strand and while sale price declines appear to be leveling increasing values might not occur in the short term.  Location means everything and we can assist you with analysing your sell or rent senario or buy or rent if you are looking to buy a Murrells Inlet home.

This infographic has some great info for home sellers but don’t forget your REALTOR® can be invaluable when listing your home for sale or when you are looking to buy a home.  If you need assistance or have any questions about selling your Murrells Inlet home let us know as we are here to help. Copyright©2012 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

 

Source: mint.com via Sandra on Pinterest

Murrells Inlet Home Sales fall in January

Murrells Inlet home sales for January 2012 indicate a 26.5% drop for single family home sales when compared to January 2011 as the median sale price slid 20% over sale prices 1 year ago to $177,900.  While sale prices and number of unit sales showed decline the average number of days to sell homes showed some improvement over last year down to 182 days on market.  Distressed sales made up 36% of single family sales in Murrells Inlet last month increasing 6.6% compared to January 2011.

The MSP of $177,900 last month is also lower than January 2010 sale prices for Murrells Inlet while 2011 showed some improvements.  The averge sale price for homes in Murrells Inlet has indicated a steady decline in the last 5 years while median sale prices indicated more fluctations for January home sales during the period.

Statistics released today provided in the graph differ slightly from the Murrells Inlet data as this also includes Garden City homes in the compilation but does follow a similar trend.

Change in Median Sale Price in Murrells Inlet and Garden City

Please contact us for more information about your Murrells Inlet home value. Copyright©2012 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

Are Murrells Inlet Home Prices Stabilizing?

Murrells Inlet home sale prices appear to be holding with a median sale price of  $240,175 for single family homes sold in September up slightly over the same month in 2010 when the median sale price was $238,416.  Along with the upward price trend the number of homes sold also increased in September with 40 single family homes sold in Murrells Inlet.  August Inlet home sales also showed an increase in median sale price so are Murrells Inlet home sale prices stabilizing?

The answer is they appear to be swinging upward but there is more to the picture than home sale prices since Murrells Inlet homes for sale also play a factor in where home sale prices might be headed for the remainder of 2011 and into 2012.  Currently there are 459 single family homes listed in the Murrells Inlet zip code and 85 with contracts but only 8 pending cash sales.  The active listings represent at least 1 years inventory and if listings continue to climb into the winter months when the number of sales typically falls we could see a less stable market going forward but for now Murrells Inlet home sale prices appear to be stable.

If you are thinking of buying a Murrells Inlet home start your search today! Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

Murrells Inlet Home Sales Increase in July

The number of single family homes sold in Murrells Inlet have increased just over 28% when compared to July of 2010 and appears to support an increase in home sales in the Murrells Inlet area as has been the case in many local market areas.  The bad news is that the sale price of homes in Murrells Inlet have declined 17.4% over sale prices in July 2010 with the average sale price of $222,473 compared to $269,353 in July 2010.

The single family inventory has over 500 homes currently listed for sale at this time and marketing time remains high as a result of slowed demand for homes coupled with overpriced listings in some Murrells Inlet neighborhoods.  The REO inventory remains low in the area as does short sale activity which accounted for only 14.3% of sales in July.  There were 166 new listings in Murrells Inlet in the last 3 months and buyers have plenty of choices in the market area.

This is a broad overview of Murrells Inlet single family homes sales for the month of July 2011.  If you would like a more in depth analysis of what your home is worth in todays market please contact us for assistance. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

 

The saga of the overpriced listing

As I was checking the status of Murrells Inlet home sales for June to see how this month might play out I ran across a whopping 52% list to sale value for a couple of Garden City Beach homes and discovered the saga of the overpriced listing. It is no wonder that both the recent sales were on the market an average of 643 days I mean when a listing is overpriced you should expect higher marketing times.

One thing for sure about Murrells Inlet home prices is that overpriced listings linger on the market longer than most. These days homes are selling at a much slower pace than the good old days only a few short years ago. Back then a seller could throw out a price and the appreciating market was sure to catch up. Not anymore and likely not ever again as we have learned the true value in a home is more deeply tied to what is happening to our neighbors and if they are going to foreclosure then there goes our homes value.

You would expect both of the Murrells Inlet properties to chase a falling market and both certainly did selling at just over half the original list price. One sale was under contract 63 days after the final price reduction and the second home went under contract the same day it was reduced a sure sign that overpriced listings are rejected by buyers in todays market.

While sellers have an idea of what they would like to sell their home for a good agent will help sellers to understand that the market sets the price. In the case of overpricing listings sellers can expect that their property will be spending more time on the market and will not sell until it is priced correctly.

It is our goal to help avoid overpriced listings even if that means not getting the business. For me the saga of the overpriced listing is one I would rather not have as in this or any market proper pricing is key to selling Murrells Inlet homes. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc. Serving the Pee Dee and Grand Strand of South Carolina.

Murrells Inlet Home Sales for May 2011

With only 1 foreclosure sale for the month of May sale prices in Murrells Inlet appeared to trend upward a slight 1.4% over May 2010. More remarkable is the number of single family homes sold dropped 46% over May 2010 with only 28 units sold last month. While the average sale price for homes in Murrells Inlet for May was $222,059, marketing time showed little significant change over last year averaging 157 days. The sale price trend for single family homes is also up 6.5% from April’s average sale price of $208,396.

Arriving at these figures was a bit of a challenge given the errors in the MLS for some locations and the changes in the MLS as far as how they classify Murrells Inlet homes. All Garden City Beach homes were eliminated from the data because they are not Murrells Inlet although several were entered that way in the MLS. Had these not been removed the year over year data showed over $67,000 loss in value for Murrells Inlet homes and that just doesn’t appear to be the case.

Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc. Serving the Pee Dee and Grand Strand of South Carolina.