Jeremy Jenks: Hey guys. Jeremy Jenks, Vice President of Sales here. I’m going to talk to you a little bit about the overall market picture of what’s going on in the Grand Strand. Our latest numbers are coming in through the end of August. They’ve had some time to compile all of the data, and I’ve just finished nerding it out a little bit and going through all the graphs and things. So I wanted to share with you real quick, August this year to August last year, we are up 11.6%. Year to date our single-family home market is up 8.7% in volume of sales. What that means is of course homes are moving, things are happening at a good pace, we’re still recovering from the depths of the crash that we had back a few years ago.
Condo sales are up 14.2% and year to date are up 16.4%. Now those are some big numbers, so let me just mention real quick you may or may not know, but due to the fact that there are typically investments in nature and it’s not your personal residence, which of course would be the last thing you’d want to lose, condos and lots are more susceptible to market swings than single-family homes are. In other words, at the peaks of the market they’re going to be higher and at the troughs of the market, they’re going to be even lower. We’re still, our condo market still is recovering from the big crash of course.
Now, median sales price for your single-family home, single family residential, is at $229,780, and that is up 5.1% year to date. That’s important whether you’re buying or selling. If you’re buying, those prices are going up. Five percent a year is a lot to go up. That’s more money that that’s going to cost you each month in your mortgage payment. The time to buy is probably right now before prices get any higher and interest rates are still low. Now if you’re selling and you’ve been waiting for it to recover, it might be time to talk to one our Trembley Group real estate professionals because your house might be worth more than you actually think. A lot of good stuff and good news going on with that.
Now, I’m going to give you just a quick little teaser. Next week we’re going to talk about new construction and why this 33% number is so important, and what it is doing in our market here in Myrtle Beach and along the Grand Strand. Stay tuned for more. As always, if you have any questions about your home or a home you’re shopping for specifically, reach out to one of our agents.
Need help? Call The Trembley Group at 843.945.1880 ext. 1 and we’ll help you look for the perfect listing or buyers agent!
At The Trembley Group, we pride ourselves on being the experts at more than just selling real estate. We are local residents, some of us have been here for a lifetime. The rest of us will be here until the end of time. We love living, working, and playing in the diverse backyard of Coastal Carolina, and look forward to helping you live and love your dreams soon too. Please reach out to us by phone or email for personalized service and one-on-one advice.