Jeremy Jenks: Hey guys, here’s our last video on North Myrtle Beach. We’re doing a market update on closed sales and also we’re going to talk a little bit about pendings and velocity. So what you want to look at in any specific market as we’ve talked about is the amount of sales that are selling – how fast – in other words, okay?
So if I’ve got 10 homes in a given marketplace that sell a month and I’ve got 200 homes that sell a month in a given marketplace, obviously more homes are going to get gobbled up, you can relax a little bit on your list price, you don’t have to be quite as aggressive in things, or a home that’s maybe not in perfect condition is still going to get sold. When it’s a highly competitive market and there’s very few velocity of sales, then you kind of really have to be aggressive when it comes to your list price.
So let’s look at North Myrtle Beach. If we’re going to talk first, we’ll talk a little bit about our pending sales. So in August – we always look at the last three years – August of 2015 was 118 sales, August of 2016 was 138, August of 2107 was 134. Now, what we have to do because the monthly totals are constantly going up and down, and there’s 100 this month, and 50 this month, or whatever, the data points, I average the data points and look at the entire year on a rolling average, and it’s a really nice trend up. And you can see how our market’s recovering.
Same thing with closed sales, August of 2015 is 116 closed sales, August of 2016 is 135, August of 2017 is 157. And you can see right from this post-it note that’s a really great trend that’s going up. So as far as velocity of sales in North Myrtle Beach, there’s about 1200, 1300, 1400 homes on the market over this three-year period. That’s been trending up, homes on the market. And then each year, about 1200, 1300, homes sell. And that’s trending up as well. So a healthy marketplace is where you don’t have a glut of inventory, so there’s not 5000 homes on the market, and only 1000 sell. So North Myrtle Beach is a really healthy marketplace with a great price per square footage.
Now if you’re interested in more information about North Myrtle Beach or any of our other areas, please you can jump on our YouTube channel. You can also see our videos on Facebook. Or just reach out to your Tremblay Group agent respond to this email.
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