Posted By Gene Carter @ Oct 24th 2022 4:23pm In: Monthly Real Estate News


Grand Strand Real Estate News


August 2022


Volume 2022 Issue 8

If you would like to receive this monthly newsletter CLICK HERE


Dear Gene Carter Team,



Summary


Overview of Sales and Listing Activity 


There are still plenty of buyers. I sold 8 of my listings in August and 3 so far in September.  Teressa sold 4 in August as well. Buyers are back to being normal buyers - shopping for the best deals and then making offers and negotiating. Now, more than ever, a seller needs a good realtor to get the best price! Buyers too! Please contact us if you want to sell or buy.


There are now 504 active oceanfront condo listings, a decline from 538 last month (See graph in newsletter). This is the first time in 5 months the inventory has not increased. The number of active condo listings off the beach continued to climb with 734 active non-oceanfront listings, up from 664 last month.


Large oceanfront condo listings (more than 1 BR) are still in relatively short supply in most buildings. Oceanfront condos in general are still relatively scarce in North Myrtle Beach.


It’s a great time to sell (or buy). Please contact us if we can be of assistance.


Large New Sports Related Attractions


Pickleball Courts: In North Myrtle Beach, 8 new pickleball courts will be added at the J Bryan Floyd Community Center on Possum Trot Road at a cost of over $1 million. Pickleball is the fastest growing sport in the country.


Surf Park: In Myrtle Beach, a man-made surf park is in the works. If built, it will be located near 21st Ave north on Grissom Parkway, right across from Broadway at the Beach and next to Top Golf. The centerpiece of the complex will be a five-acre lagoon capable of producing up to 1,000 waves an hour. A 10,000 set amphitheater is also planned.


Special Tax District in downtown Myrtle Beach 


For owners of investment condos (and other income-producing businesses) in certain areas of downtown Myrtle Beach, an additional 1% real estate tax (on top of the usual 6% of assessed value) will be included in this year’s bill and for the next 10 years. This will create a revenue stream exclusively to boost economic development and revitalization efforts across a 689-acre special tax district running from 11th Ave S. to 21st Ave. N. 


Check out our usual Grand Strand Market Reports, Sales and Listing Updates, my Best Buys, and new Beach Pro Team reviews.

Greetings from The Grand Strand!


This month I’m going to take a break from the in depth analyses of current real estate market conditions (although I’ll still provide an overview). Instead, I’ll take a look at a few proposed new attractions as well as a new “tax”.

Overview of Sales and Listing Activity 


There are still plenty of buyers. I sold 8 of my listings in August and 3 so far in September (and I’ve received several other offers). As mentioned in recent newsletters, buyers are back to being normal buyers - shopping for the best deals and then making offers and negotiating. Now, more than ever, a seller needs a good realtor to get the best price! Buyers too! Teressa sold 4 in August as well. Please contact us if you want to sell or buy.


Below is the chart I’ve been updating each month. There are now 504 active oceanfront condo listings, a decline from 538 last month. This is the first time in 5 months the inventory has not increased. I don’t know if this is a change in the direction of the market or just a pause in the steadily increasing inventory numbers we’ve seen since April. Meanwhile the number of active condo listings off the beach continued to climb with 734 active non-oceanfront listings, up from 664 last month.


Large oceanfront condo listings (more than 1 BR) are still in relatively short supply in most buildings. Oceanfront condos in general are still relatively scarce in North Myrtle Beach.


It’s a great time to sell (or buy). Please contact us if we can be of assistance.

Large New Sports Related Attractions


Pickleball Courts: In North Myrtle Beach, 8 new pickleball courts will be added at the J Bryan Floyd Community Center on Possum Trot Road at a cost of over $1 million. There are already 6 outdoor courts and 4 indoor courts. Construction could begin as early as the beginning of next year. Pickleball is the fastest growing sport in the country.


Surf Park: In Myrtle Beach, a man-made surf park is in the works. If built, it will be located near 21st Ave north on Grissom Parkway, right across from Broadway at the Beach and next to Top Golf. The 21.6 acre land purchase has been approved by City Council. The centerpiece of the complex will be a five-acre lagoon capable of producing up to 1,000 waves an hour. A 10,000 set amphitheater is also planned.


Special Tax District in downtown Myrtle Beach 


For owners of investment condos (and other income-producing businesses) in certain areas of downtown Myrtle Beach, an additional 1% real estate tax (on top of the usual 6% of assessed value) will be included in this year’s bill and for the next 10 years. This will create a revenue stream exclusively to boost economic development and revitalization efforts across a 689-acre special tax district running from 11th Ave S. to 21st Ave. N. Officials expect the levy to generate nearly $14 million over its lifespan. Approximately 3,650 properties with a total assessed value of $60.6 million will be paying the tax. The goal is to attract private investment, create more housing and spur a more walkable, visitor-friendly environment. City leaders are basing this on similar financial structures which have benefited other cities.


That’s all for now. Check out our usual Grand Strand Market Reports, Sales and Listing Updates, my Best Buys, and new Beach Pro Team reviews.


See you at the beach!

Beach Pro Reviews

Here are some recent reviews published in Zillow. 



  • Gene has extensive knowledge of Myrtle Beach properties and fellow realtors, We sold our condo for over asking price, thanks to Gene. We highly recommend Gene to anyone looking to buy or sell in the Myrtle Beach area. Myrtle Beach.


  • So we were the clients that Teressa could not get rid of. She spent countless hours working with us in trying to find an investment property/second home. ( and somehow she never got tired of us ). I doubt there is anyone that has more expertise in knowing the Grand Strand Area, She always had just the right information that we needed. She always had time for us and made us feel as if we were her most important clients( as I am sure she does with everyone) It took us two years but we finally found the perfect second home. None of this would have been possible without Teressa. We would highly recommend Teressa to anyone looking to purchase real estate. Robert. Margate. Myrtle Beach.


We have chosen to utilize Zillow's review platform. This is not an endorsement of Zillow (Please ignore the ridiculous "Zestimates") but we think an online third-party review service provides more credibility than simply printing reviews ourselves. At this time, we have over 130 reviews with more coming in each month. To see all of the reviews at any time, you can visit Zillow Beach Pro Team reviews

Grand Strand Market Report

Below is a link to a detailed report on the current state of our local real estate market complete with statistics for just about anything imaginable. Please keep in mind that these statistics cover a broad range of properties and that particular areas or developments may behave quite differently.  

As always please contact me if I can be of service in any way.

See link below to interpret terms used in this report.


Grand Strand Market Report - July 2022

Best Buys

The following current listings are exceptionally well-priced and represent great values. The spreadsheets are sorted by price. These are live links to listing details and they will change according to changes in the MLS (Pending, Sold, etc.). The listing details are in the same order as the spreadsheets. Please call me directly if you find something of interest to you.
  


OF/OV Homes Brochures:    Link to Listings 

OF/OV Homes Spreadsheet:   Link to Spreadsheet 

 

OF/OV Condo Brochures:    Link to Listings

OF/OV Condo Spreadsheet:   Link to Spreadsheet


Non-OF Condo Brochures:     Link to Listings 

Non-OF Condo Spreadsheet:  Link to Spreadsheet

Gene Carter head shots 2021-Resized.jpg
If you are considering buying or listing any property on the Grand Strand, or if I can be of assistance in any other way, please contact me. Also, please feel free to forward this newsletter to friends or acquaintances and of course I will be happy to add them to my email list.

Finally, please let me know if you are going to be in the area and would like to get together.

See you at the beach!

Gene Carter

Beach Pro Team

Cell Phone:  843-455-4785

Email: GeneCarter@BeachProTeam.com

Website:  www.BeachProTeam.com

The material provided is for informational and educational purposes only and sometimes contains current or forward-looking statements on real estate market conditions, 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, and is not necessarily the opinion of RE/MAX Southern Shores or its agents.





Share on Social Media:

Comments (0)

Comments have been closed for this post.
Please contact us if you have any questions or comments.