For today’s market update, I’ll recap the ebbs and flows we saw from 2018’s market, and I’ll also discuss the promising outlook for 2019.
Our market has been interesting of late. As you may know, Hurricane Florence dealt a blow to some parts of the market and brought a lot of rain and flooding through the rivers. Its impact certainly made for a unique fourth quarter of 2018.
Although many of us weren’t directly affected by Florence’s wrath, our market did see some changes: Looking at trendlines from last year, you’ll see that our market was steadily improving throughout the year before hitting somewhat of a sharp drop-off that lasted from September to December.
Our sales prices have stayed flat from last year into 2019, but the closed sales volume also fell sharply once we were in October.
“Now that we’re in the early part of 2019, we’re beginning to see the pent-up demand from last year’s late quarters drive activity forward.”
From our team’s vantage point, Florence’s impact created a lot of hesitancy and uncertainty among outside buyers looking to buy within our market. Some canceled their trip here because they weren’t sure if roads would be open, while others became nervous by the heavy news coverage of Myrtle Beach and the presence of the National Guard—this was especially true of condo buyers.
In December, we saw no major ups or downs, and we closed out the year at a level amount of activity.
Now that we’re in the early part of 2019, we’re beginning to see the pent-up demand from last year’s late quarters drive activity forward; trips to our area are being booked again, and, looking at January’s numbers, our team is seeing a strong start to the year.
If you have any questions about what to expect in 2019’s market or for help with any of your real estate needs, please reach out to us. We’d love to have a conversation with you!
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.