Grand Strand Real Estate News - November 2022

November 2022

Volume 2022 Issue 11

Dear Gene Carter Team,

Summary

With everyone’s attention on the holidays, I’ll keep this newsletter short. 

Market Report

Sales activity has been better than expected considering the season, elections, and interest rates. Teressa and I had 6 new sales in November, three of which were contracts for condos over $500,000 apiece. There are fewer buyers actively looking than earlier in the year but listings for large condos are still relatively scarce. 

The number of active oceanfront listings has barely changed for the third month in a row as there are now 460 versus 464 in October. The number of active condo listings off the beach continues to climb - 838 now versus 794 in October (See chart in newsletter).

The number of new listings for oceanfront condos was up 11% and the numbers of closed sales and pending sales were down 10.6% and 7.6% respectively (See chart in newsletter).

Sellers: There are still people buying resort condos, even in the winter. Reasonably priced listings are getting lots of attention. As always, please let me know if you would like an evaluation of your property.

Buyers: A purchase now would put you in position to close in January, just in time to start booking next year’s rentals. Please contact Teressa for information or assistance.

Children's Miracle Network Hospitals

For each sale that Teressa and I close, a contribution is made to the Children’s Miracle Network of Hospitals in honor of our buyer or seller client. Since 1983, Children’s Miracle Network Hospitals has raised more than $7 billion to fund care for children in hospitals throughout the country. Here’s a link to their website. Children's Miracle Network of Hospitals. The agents of RE/MAX Southern Shores have donated $44,881 in 2022 (through November) and $173,496 over the past 5 years.

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

Greetings from Myrtle Beach,

With everyone’s attention on the holidays, I’ll keep this newsletter short with just a brief market update and, in the spirit of the giving season, a report on my team’s ongoing contributions to the Children’s Miracle Network.

Market Report

Considering the higher interest rates, concerns over the economy and the midterm elections, sales activity has been better than expected. Teressa and I had 6 new sales in November, three of which were contracts for condos over $500,000 apiece. There are fewer buyers actively looking than earlier in the year but listings for large condos are still relatively scarce. 

Here is the graph I’ve been updating each month showing the active listings in oceanfront buildings and non-oceanfront buildings. The number of active oceanfront listings has barely changed for the third month in a row as there are now 460 versus 464 in October. The number of active condo listings off the beach continues to climb - 838 now versus 794 in October.

Here is the updated version of one of the charts I included in last month’s newsletter showing several metrics. The number of new listings for oceanfront condos was up 11% and the numbers of closed sales and pending sales were down 10.6% and 7.6% respectively.

Sellers: There are still people buying resort properties on the Grand Strand, even in December. Also, inventory remains relatively low, particularly for larger properties, so reasonably priced listings are getting lots of attention. As always, please let me know if you would like an evaluation of your property.

Buyers: It’s a super time to visit our area with all the festivities going on. Also, a purchase now would put you in position to close in January, just in time to start booking next year’s rentals. Please contact Teressa for information or assistance.

Children's Miracle Network Hospitals

For each sale that Teressa and I close, a contribution is made to the Children’s Miracle Network of Hospitals in honor of our buyer or seller client. If you bought or sold a property through either of us in recent years, you should have received a card notifying you of this. Most of the other 180 plus agents in RE/MAX Southern Shores also participate in this program. 

What is the Children’s Miracle Network of Hospitals?  To provide the best care for kids, children’s hospitals rely on donations and community support, as Medicaid and insurance programs do not fully cover the cost of care. Since 1983, Children’s Miracle Network Hospitals has helped fill those funding gaps by raising more than $7 billion. Here’s a link to their website. Children's Miracle Network of Hospitals. The agents of RE/MAX Southern Shores have donated $44,881 in 2022 (through November) and $173,496 over the past 5 years.

I told you I was going to keep it short so that’s all for now. Check out our usual Grand Strand Market Reports, Sales and Listing Updates, my Best Buys, and Beach Pro Team reviews.

Here is a new review published in Zillow. 

• Before signing with Gene Carter I was with another well known Myrtle Beach broker for 3 months. I did not receive 1 offer during the HOTTEST Myrtle market in years. I SOLD AND CLOSED in less than a month after signing up with Gene. He even emptied my Owners closet and shipped my golf clubs at no charge. VERY PLEASED WITH HIM AND HIS STAFF!!! Michael. Caribbean. 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 - October 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