• Home
    • Uncategorized
    • PART 1: North Myrtle Beach | Month’s Supply of Inventory | Market Update

    PART 1: North Myrtle Beach | Month’s Supply of Inventory | Market Update

    Jeremy Jenks: Good morning. Jeremy Jenks, Vice President of Sales here with the Trembley Group with another market update for you. This time, we’re going to do month’s supply of inventory as our first video in a quick three part series on North Myrtle Beach. North Myrtle Beach is the … or otherwise, the 29582 ZIP code. It’s one of the hottest areas, one of the most desirable areas in the overall kind of Grand Strand, but I’ve also heard it’s one of the most expensive ZIP codes overall in the Grand Strand. Not quite as many hotels. Not quite as many tourists. More beach homes. It’s got a little bit of a different feel to it than downtown Myrtle Beach does, and we’ve got some great stats to go over with you today.

    For our previously owned homes, you can see a fantastic trend. Again, month’s supply of inventory is if we did nothing … if everyone stopped listing homes, how many months would it take to work through that supply of inventory? Anything less than 6 months is going to be a seller’s market. They can get more for their house, less supply. Anything greater than 6 months, of course, there’s a lot of inventory, and it’s going to be a buyer’s market. There’s more competition.

    Previously owned … in August of 2015, we were at 11 months. In August of 2016, we were at 10 months, and then we dropped all the way to 7 months just recently in August of 2017. Really nice, just kind of trucking its way down in the previously owned market. Now, new construction market, which is always a little bit, slightly more volatile just due to what neighborhoods happen to be building, different close-outs and sales that builders will do – smaller market – so a little more volatility. But 2015, 8.5 months. 2016, August, 6 months. In 2017, we’re down to 5.5 months.

    As you can see, both new construction and previously owned are reaching that or are just surpassing that 6-month barrier, so very healthy markets. Not swung either very far to the seller side or to the buyer side, which, of course, is a lopsided market. Nice, nice, healthy market. Stay tuned next week. We will bring you some more information on the North Myrtle Beach area.

    For more information: Jeremy Jenks, Vice President of Sales, TheTrembleyGroup.com, 843.638.3002

     

    Need help? Call The Trembley Group at 843.945.1880 ext. 100 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. 

    unnamed

    Trackback from your site.

    Leave a Reply

    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the Myrtle Beach, SC area.
    zillowpremierbadge
    Reviews on Zillow
    3113255
    "I Have worked with Brad several times on various projects. He is by far the most professional, knowledgeable representative I have ever used. His ... more "
    5.0/5.0
    by petrou97
    3111767
    "Brad exceeded all expectations during our search and purchase of a property. Being from out of town, it was difficult to be present in Myrtle Beach as ... more "
    5.0/5.0
    by zuser20170112074219615