January 2023

Volume 2023 Issue 1

Dear Gene Carter Team,

Summary

We have completed our Closed Sales Histories for 2022. For those of you not familiar with these, they consist of spreadsheets showing detailed closing info for every closed sale (per MLS) for over 190 resorts along the Grand Strand - all the way back to 2009. We update these a few weeks into each new year. With the rapid appreciation in 2022, this year’s batch is exceptionally interesting. To receive these, you can sign up on our website, BeachProTeam.com  or click on the link below:

www.grandstrandclosedsaleslist.com

Market Update

After a bit of a slowdown in December, sales activity has picked up, as it usually does by mid-January. New contracts and new listings for condos both increased in January but sales increased more so listing inventory is dropping (as illustrated in the charts below).  

The number of active oceanfront listings was down noticeably, 406 in January versus 442 in December. The number of active condo listings off the beach decreased again, from 778 in December to 769 in January. (See chart in body of newsletter). 

Average sales price increased 6.9%. The number of new listings increased 17.2% but the number of active listings decreased 8.1%. This is because, as previously mentioned, new contracts are coming in faster than new listings. Pending sales increased a whopping 39%. (See chart in body of newsletter).

Sellers, it's still a great time to sell with prices in most segments of the market holding steady at their increased values from the sharp appreciation in 2022. There is no better time to sell than when you have no competition and many buildings currently have no listings at all. Please contact me if you would like a customized market analysis for your property.

Buyers, The pace of new listings is increasing but the good ones are getting snapped up fast. February through April are usually the busiest listing months of the year so there will be some more good buys available in the near future. Please contact Teressa or Kevin if you are interested in purchasing.

New Buyer Agent

We have some big news for our team as Teressa has been joined by Kevin Goodwin as a new buyer agent. Kevin comes to us from Rochester, New York, where he enjoyed a successful real estate career for the past 7 years. He most recently was a top producer with RE/MAX Plus in Rochester where he primarily dealt with traditional single-family homes. He is quickly learning about our local condo market but we anticipate both he and Teressa will be increasingly active in the home market.

New Home Sales

The Beach Pro team will continue to be your experts in the oceanfront and resort condo market as we have been for many years. We will, however, be expanding our reach into the residential market. In particular, we anticipate working with buyers moving to our area. 

We will be especially focused on new-home sales. This is a huge segment of The Grand Strand market, comprising 39% of all single-family home sales in 2022. There are literally hundreds of subdivisions with new homes. It's wonderful to have all these choices but overwhelming for someone unfamiliar with our area. We plan to help as many buyers as possible find their perfect homes. By the way, we of course will also work with resales. 

Both Kevin and Teressa have had a great deal of experience in this realm and I have no doubt they will provide you with the same level of service we always have for our condo sales.

If you are considering moving to our area or know someone else who is, please reach out to us to assist you.

If you are an agent and have clients thinking of moving to our area, please contact us. We love referrals!

If you currently own a second home or investment condo in our area, please let us know if you want to look for a more permanent home anywhere on the Grand Strand.

Balloon Shot Down After Passing Over My House - Only in Myrtle Beach!

Really Cool Grand Strand Sunset Pics!

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.

Greetings from the Grand Strand!

After a bit of a slowdown in December, sales activity has picked up, as it usually does by mid-January. See the market stats below. 

We have completed our Closed Sales Histories for 2022. For those of you not familiar with these, they consist of spreadsheets showing detailed closing info for every closed sale (per MLS) for over 190 resorts along the Grand Strand - all the way back to 2009. We update these a few weeks into each new year. With the rapid appreciation in 2022, this year’s batch is exceptionally interesting. To receive these, you can sign up on our website, BeachProTeam.com   or click on the link below:

www.grandstrandclosedsaleslist.com

Also, we have some big news for our team as Teressa has been joined by Kevin Goodwin as a new buyer agent. The addition of Kevin will allow us to provide prompt comprehensive service to more potential buyers. I will remain focused on listings and marketing. More info on Kevin below.

In another change for the coming year, we plan to expand our focus to include more traditional residential properties, particularly new construction. Of course we will still continue to provide the best service on the Grand Strand for condo buyers and sellers. More on this below as well.

Spy Balloon Sighting

Before I get into the details for the above mentioned topics, we had some excitement last week! Saturday afternoon, my wife yelled, “Come outside and see the balloon!” Sure enough, there it was, almost directly over our house. We watched for a little while and then went back inside. A few minutes later we heard a tremendous boom which shook the house and sent our dog, Sara, into a yelping frenzy. We went outside just in time to see the balloon deflated and dropping like a stone. Some friends of ours actually watched it hit the ocean from the shore. Only in Myrtle Beach!

On the subject of skygazing, there have been some spectacular sunsets lately. I’ve included a few pictures I took with my cell phone.

Wicked Tuna Restaurant on Murrells Inlet

Market News and Stats

New contracts and new listings for condos both increased in January but sales increased more so listing inventory is dropping (as illustrated in the charts below).

Sellers, it's still a great time to sell with prices in most segments of the market holding steady at their increased values from the sharp appreciation in 2022. There is no better time to sell than when you have no competition and many buildings currently have no listings at all, particularly larger condos (deluxe one bedrooms and anything with two bedrooms or more). Please contact me if you would like a customized market analysis for your property.

Buyers, The pace of new listings is increasing but the good ones are getting snapped up fast. February through April are usually the busiest listing months of the year so there will be some more good buys available in the near future. Please contact Teressa or Kevin if you are interested in purchasing.

Here are a couple of charts I’ve been including in recent newsletters. The first shows the number of active condo listings in oceanfront buildings and non-oceanfront buildings. The number of active oceanfront listings was down noticeably, 406 in January versus 442 in December. The number of active condo listings off the beach decreased again, from 778 in December to 769 in January.

The following chart shows several month-to-month metrics for oceanfront condos. Average sales price increased 6.9%, a significant change. The number of new listings Increased 17.2% but the number of active listings decreased 8.1%. This is because, as previously mentioned, new contracts are coming in faster than new listings. Pending sales increased a whopping 39%. Closed sales were down 14.4%, probably because these were the relatively few new contracts from December finally closing.

“The Hangout” at Broadway at the Beach - MB

New Buyer Agent - Kevin Goodwin

Kevin comes to us from Rochester, New York, where he enjoyed a successful real estate career for the past 7 years. He most recently was a top producer with RE/MAX Plus in Rochester where he primarily dealt with traditional single-family homes. He and his wife Ofelia moved to Myrtle Beach in late December to escape the snow and enjoy the sun and beach. He is an avid golfer and loves watching football and hockey and is a diehard Buffalo Bills and Sabres fan. Kevin’s familiarity with the RE/MAX system has made for a smooth transition. He is quickly learning about our local condo market but we anticipate both he and Teressa will be increasingly active in the home market.

Intracoastal Waterway from Barefoot Landing in NMB

New Home Sales

The Beach Pro team will continue to be your experts in the oceanfront and resort condo market as we have been for many years. We will, however, be expanding our reach into the residential market. In particular, we anticipate working with buyers moving to our area. There will be new marketing initiatives and website improvements aimed at attracting interested buyers by providing unique information as we currently do with our newsletters and the extensive resort condo info on our website.

We will be especially focused on new-home sales. This is a huge segment of The Grand Strand market, comprising 39% of all single-family home sales in 2022. There are literally hundreds of subdivisions with new homes. It's wonderful to have all these choices but overwhelming for someone unfamiliar with our area. We plan to help as many buyers as possible find their perfect homes. By the way, we of course will also work with resales. 

Both Kevin and Teressa have had a great deal of experience in this realm and I’m confident that they will be extremely successful. More importantly for you, I have no doubt they will provide you with the same level of service we always have for our condo sales.

If you are considering moving to our area or know someone else who is, please reach out to us to assist you.

If you are an agent and have clients thinking of moving to our area, please contact us. We love referrals!

If you currently own a second home or investment condo in our area, please let us know if you want to look for a more permanent home anywhere on the Grand Strand. 

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!

Here is a new review published in Zillow. 

• As always Gene and his team exceeded my expectations. This is the second real estate transaction with Gene and I couldn't have been happier. I had to sell a property remotely and Gene was my eyes and ears through the whole process. I was able to sell my property without ever having to go there. Gene and his team took care of every aspect of the transaction. From listing the property, screening a qualified buyer to sourcing out repair contractors and a title company for my closing. Simply flawless service. I SUPER RECCOMEND GENE CARTER! THANKS AGAIN FOR EVERYTHING. Allen. Grand Atlantic. 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 - December 2022

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

Beach Pro Team

Cell Phone:  843-455-4785

Email: GeneCarter@BeachProTeam.com

Website:  www.BeachProTeam.com