Myrtle Beach Condos For Sale - The Hoffman Group Is A Myrtle Beach Real Estate Company Specializing In Oceanfront Condo Sales and Oceanfront Condo Foreclosures

Myrtle Beach Condos For Sale - South Carolina

The Grand Strand

The momentum of 2012 has carried over into 2013 in Grand Strand residential and condo properties. Sales activity is up double digits and prices are rebounding.

Sales activity showed a robust increase of 11.5% in March of this year compared to the same month a year ago. There is reason for optimism — there is a sufficient and competitive inventory, near historic low rates, and eager buyers and sellers. Not to mention a spring buying season around the corner.

A Positive Housing Trend

The pickup in housing demand combined with a healthy supply of available properties is pushing up home values. This is not only a local phenomena but is occurring in many places across the country. Jenny Ames, a real estate agent in Chicago said, “I’ve never seen a market like this, and I’ve been doing this for 19 years.” Jenny has seen her sales double from 2011 to 2012 and she is expecting the same for 2013.

In Southern California, Jeff Pintar, a housing investor recently purchased 12 homes in a single day. His regret: that he didn’t buy more homes a year earlier. Jeff said,“Things have turned around faster than anyone anticipated.”

Housing recoveries for the most part are fueled by rising demand and supply. This recovery is hard to pinpoint at this moment but like all recoveries the challenge will be inventory. Currently (see chart above) we see a healthy trend compared to the last several years. This combined with a substantial decrease in single-family residential listings makes for a promising buying season.

A Growing Housing Market

John Burns, a real estate consultant also believes that the number of normal buyers are returning and will continue to do so in the next 3 to 4 years, saying that between 2010 and 2016 the number of normal buyers will grow by around 80%, a great sign for a healthy, improving housing market.

In the Grand Strand market?

If you are in the market to purchase a new vacation condo or property, the Grand Strand area are both continuing to grow rapidly. Remember, now is the perfect time to buy a new home as home loan rates remain near historic lows. For insight on purchasing a property in the Myrtle Beach and Grand Strand area, be sure to grab our free whitepaper, Myrtle Beach Real Estate: 5 Things You Should Know.

A professional real estate agent at the Hoffman Group would also be glad to assist you. To get started feel free to call us at (877) 671-5024 .

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The material provided is for informational and educational purposes only and should not be construed as legal, investment and/or real estate advice. Although the material is deemed to be accurate and reliable, we do not make any representations as to its accuracy or completeness and as a result, there is no guarantee it is without errors.