Myrtle Beach Real Estate - Myrtle Beach Real Estate Analysis

We have just completed an analysis of the MLS YTD 11/17/2007 and compared it to the same time period 2006, it is summarized for you below:

As you can see, what you have been hearing about decreasing values in real estate is happening in other areas of the United States. We are starting to see some of the recent sales dropping in the average price from what you see from the numbers listed above. Part of the reason for the big increase in average price for condos is due to a lot of pre-construction buildings closing this year that were started in 2005/2006 that were higher in price and a some higher end properties being built that closed during 2007.

Active units available at 11/27/2007 are listed below:

We feel that real estate across the country has slowed due to some negative press, and the only cities that have not been affected were the cities such as Charlotte that are doing so well because of the local economy. Approximately 50% of the foreclosures in the US are from 8 states; California, Florida, Nevada, Arizona because of the market and Ohio, Texas, and Michigan because of the economy.

Myrtle Beach has a lot going on and should be one of the quickest to return to its growth due to several factors:

1. It is the #1 beach in the US according to Yahoo Travel
2. It is the second most desired area to move to for retirees behind California.
3. We have the Hard Rock  Theme Park  opening in 2008
4. We have a higher repeat visitor base than any other tourist beach
5. There are over 10,000 baby boomers retiring every day. 25% to 30% are heading to the southern coast for the quality of life.
6. Myrtle Beach is the #1 golf destination in the US.

We have a lot going on here at the beach and we expect things to start to improve in 2008. Now would be a great time to buy, there are some great deals available and they want be around long!

The Willis Journal is a real estate sales analysis journal for Myrtle Beach real estate. The Willis Team Professionals have created this information to help our viewers to better understand what is currently going on in the real estate market. You will see that we also have created an analysis for some communities within the Myrtle Beach, South Carolina and will soon be adding more real estate sales analysis.

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