FORECLOSURE & REO LISTINGS ALL 50 STATES
Name Your Price. We've got one for you.
CLICK HERE TO BEGIN YOUR SEARCH
"Borrow, spend and hope the theoretical benefits of globalization materialize before the repo man comes." ~Hellasious
MYRTLE BEACH...SCROLL DOWN FOR THE REAL MARKET STATISTICS!
The information below is for the benefit of Myrtle Beach area residents and fellow REALTORS. All source data is provided by Michelle Hallstrom from CCAR Paragon MLS System and/or TheForeclosureHunter.com and includes Horry & Georgetown Counties in South Carolina and a few other counties in South Carolina where the listing Broker is also a member of CCAR MLS.
2007 ~TRACKING THE MYRTLE BEACH MARKET ~ 2010
Just the Facts folks...
I have been graphing specific numbers from our MLS since October 2007
in an effort to predict the direction our market is headed. Numbers shown are the entire real estate market including bank owned property and get updated WEEKLY between 9am-12pm est.This Day in Myrtle Beach Real Estate....MAY 29 2010
| Property Class |
Active Market |
Pending Market |
AvgChance of Selling TODAY | |
| Residential (Stick, New & MHWL) |
6253 |
701 |
11.21% |
|
| Land |
4948 |
110 |
2.22% |
|
| Condo (all) |
5907 |
498 |
8.43% |
|
| Condo (OF/OV) |
2281 |
203 |
8.89% |
|
| REO's |
645 |
200 |
31.00% |
|
|
ShortSales |
1636 |
565 |
34.53% |
|
| ALL categories |
18234 |
1319 |
7.23% |
|
12.51% of the Active Market today is REO or Shortsale (2281 units)
Total Active Market Volume change from 1/1/2010 (+1344 units)
Total Pending Market Volume change from 1/1/2010 (+334 units)
5/29/10 - Average Chance of selling for REO or Shortsale = 33.53%
5/29/10 - Average Chance of selling for Regular Seller = 3.47%
The chart above shows how the private market (regular sellers) is being affected by the massive increase in REO and Shortsale sales. The numbers for 2007, 2008 and 2009 are actual, 2010 is projected based on the past percentage of increases and declines. Our prediction for 2010 is that the end of the year will see over 51% of all sales being REO or Shortsales. Overall there will be a slight increase in number of closings however private sellers will see an 11% decline in their sales. Shortsales will exceed REO sales. Prepare for a hefty decline in median and average prices on the Grand Strand. Despite what local media reports on our markets, the data posted on this website is ACTUAL. It may not be rosey, but these are the facts.
The BEGINNING of the decline in VALUE has just started.
Immediately below are the year over year changes broken down month by month based on the actual sold market. Need help figuring out what all these numbers mean? Call anytime...free...(843) 424-7500.
As always, bringing you the FACTS not the FICTION on real estate conditions in Myrtle Beach.
| SOLD January |
2007 |
2008 |
2009 |
2010 |
%change 07 to 08 |
%change 08 to 09 |
%change 09 to 10 |
| REO's & Shortsales |
12 |
16 |
56 |
121 |
+33.33% |
+250.00% |
+114.28% |
| residential |
333 |
221 |
165 |
-33.63% |
-25.33% |
||
| land |
101 |
68 |
17 |
-32.67% |
-75.00% |
||
| condo (all) |
301 |
154 |
101 |
-48.83% |
-34.41% |
||
| condo OF/OV |
70 |
54 |
30 |
-22.85% |
-44.44% |
||
| total |
735 |
443 |
290 |
482 |
-39.72% |
-34.53% |
+59.65% |
| % chg prev. mo. |
-22.05% |
-13.64% |
-31.11% |
+9.97% |
Jan 2010: 53.73% of all sales were CASH
| SOLD February |
2007 |
2008 |
2009 |
2010 |
%change 07 to 08 |
%change 08 to 09 |
|
REO's & Shortsales |
25 |
28 |
88 |
136 |
+12.00% |
+214.28% |
| residential |
336 |
266 |
182 |
-20.83% |
-31.57% | |
| land |
99 |
46 |
19 |
-53.53% |
-58.69% | |
| condo (all) |
305 |
205 |
122 |
-32.78% |
-40.48% | |
| condo OF/OV |
110 |
65 |
46 |
-40.90% |
-29.23% | |
| total |
740 |
517 |
379 |
514 |
-30.13% |
-29.40% |
| % chg prev. mo. |
+.68% |
+16.70% |
+25.86% |
Feb 2010: 54.28% of all sales were cash
| SOLD March |
2007 |
2008 |
2009 |
2010 |
%change 07 to 08 |
%change 08 to 09 |
%change 09 to 10 |
| REO's & Shorts |
16 |
21 |
105 |
212 |
+31.25% |
+400.00% | |
| residential |
448 |
284 |
218 |
-36.60% |
-23.23% | ||
| land |
137 |
79 |
35 |
-42.33% |
-55.69% | ||
| condo (all) |
417 |
243 |
154 |
-41.72% |
-34.18% | ||
| condo OF/OV |
130 |
91 |
67 |
-30.00% |
-26.37% | ||
| total |
1002 |
606 |
507 |
762 |
-39.52% |
-17.65% | |
| % chg prev. mo. |
+35.40% |
+17.21% |
+33.77% |
Mar 2010: 54.46% of all sales were CASH
| SOLD April |
2007 |
2008 |
2009 |
2010 |
%change 07 to 08 |
%change 08 to 09 |
| REO's & Shortsales |
14 |
37 |
160 |
189 |
+164.00% |
+332.43% |
| residential |
390 |
274 |
225 |
-29.74% |
-17.88% | |
| land |
108 |
81 |
29 |
-25.00% |
-64.19% | |
| condo (all) |
446 |
293 |
223 |
-34.30% |
-23.89% | |
| condo OF/OV |
95 |
114 |
95 |
+20.00% |
-16.66% | |
| total |
944 |
648 |
486 |
716 |
-31.35% |
-25.30% |
| % chg prev. mo. |
-5.78% |
+6.93% |
-4.53% |
Apr 2010: 49.02% of all sales were CASH
| SOLD May |
2007 |
2008 |
2009 |
2010 |
%change 07 to 08 |
%change 08 to 09 |
| REO's & Shortsales |
13 |
42 |
158 |
130 |
+223.00% |
+276.14% |
| residential |
437 |
311 |
282 |
-28.83% |
-9.32% | |
| land |
175 |
46 |
18 |
-73.71% |
-60.86% | |
| condo (all) |
381 |
294 |
270 |
-22.83% |
-8.16% | |
| condo OF/OV |
101 |
114 |
104 |
+12.87% |
-8.77% | |
| total |
993 |
651 |
592 |
576 |
-34.44% |
-9.06% |
| % chg prev. mo. |
+5.19% |
+0.46% |
+ 16.46% |
| SOLD June |
2007 |
2008 |
2009 |
%change 07 to 08 |
%change 08 to 09 |
| REO's & Shortsales |
12 |
35 |
155 |
+191.00% |
+342.85% |
| residential |
474 |
369 |
335 |
-22.15% |
-9.21% |
| land |
105 |
61 |
58 |
-41.90% |
-4.92% |
| condo (all) |
434 |
257 |
285 |
-40.78% |
+10.89% |
| condo OF/OV |
229 |
94 |
128 |
-58.95% |
+36.17% |
| total |
1013 |
687 |
684 |
-32.18% |
-0.43% |
| % chg prev. mo. |
+2.01% |
+5.52% |
+ 15.54% |
| SOLD July |
2007 |
2008 |
2009 |
%change 07 to 08 |
%change 08 to 09 |
| REO's & Shortsales |
9 |
56 |
176 |
+522.00% |
+214.28% |
| residential |
391 |
285 |
334 |
-27.10% |
+17.19% |
| land |
105 |
69 |
64 |
-34.28% |
-7.24% |
| condo (all) |
335 |
274 |
276 |
-18.20% |
+0.73% |
| condo OF/OV |
84 |
84 |
116 |
unchanged |
+38.09% |
| total |
831 |
628 |
688 |
-24.42% |
+9.55% |
| % chg prev. mo. |
-17.69% |
-8.58% |
+ 0.58% |
| SOLD August |
2007 |
2008 |
2009 |
%change 07 to 08 |
%change 08 to 09 |
| REO's & Shortsales |
17 |
51 |
120 |
+200.00% |
+135.29% |
| residential |
438 |
279 |
315 |
-36.30% |
+12.90% |
| land |
153 |
61 |
53 |
-60.13% |
-13.11% |
| condo (all) |
282 |
213 |
293 |
-24.46% |
+37.56% |
| condo OF/OV |
68 |
65 |
127 |
-4.41% |
+95.38% |
| total |
873 |
553 |
671 |
-36.65% |
+21.34% |
| % chg prev. mo. |
+5.05% |
-11.94% |
-2.47% |
| SOLD September |
2007 |
2008 |
2009 |
%change 07 to 08 |
%change 08 to 09 |
| REO's & Shortsales |
11 |
44 |
116 |
+300.00% |
+163.63% |
| residential |
353 |
253 |
335 |
-28.32% |
+32.41% |
| land |
82 |
41 |
53 |
-50.00% |
+29.27% |
| condo (all) |
308 |
195 |
238 |
-36.68% |
+22.05% |
| condo OF/OV |
78 |
50 |
106 |
-35.89% |
+112.00% |
| total |
743 |
489 |
640 |
-34.18% |
+30.88% |
| % chg prev. mo. |
-14.89% |
-11.57% |
- 4.62% |
| SOLD October |
2007 |
2008 |
2009 |
%change 07 to 08 |
%change 08 to 09 |
| REO's & Shortsales |
17 |
56 |
128 |
+229.00% |
+128.57% |
| residential |
305 |
262 |
319 |
-14.09% |
+21.75% |
| land |
77 |
31 |
53 |
-59.74% |
+70.96% |
| condo (all) |
382 |
202 |
297 |
-47.12% |
+47.03% |
| condo OF/OV |
183 |
68 |
113 |
-62.84% |
+66.17% |
| total |
764 |
495 |
678 |
-35.20% |
+30.30% |
| % chg prev. mo. |
+2.82% |
+1.22% |
+5.94% |
| SOLD November |
2007 |
2008 |
2009 |
%change 07 to 08 |
%change 08 to 09 |
| REO's & Shortsales |
22 |
39 |
133 |
+77.00% |
+241.02% |
| residential |
318 |
161 |
329 |
-49.37% |
+104.34% |
| land |
76 |
26 |
48 |
-65.78% |
+84.61% |
| condo (all) |
262 |
130 |
243 |
-50.38% |
+86.92% |
| condo OF/OV |
101 |
44 |
92 |
-56.43% |
+109.09% |
| total |
656 |
371 |
648 |
-43.44% |
+71.43% |
| % chg prev. mo. |
-14.13% |
-25.05% |
-6.19% |
| SOLD December |
2007 |
2008 |
2009 |
%change 07 to 08 |
%change 08 to 09 |
| REO's & Shortsales |
16 |
71 |
127 |
+343.75% |
+78.87% |
| residential |
228 |
248 |
312 |
+8.77% |
+25.80% |
| land |
71 |
33 |
58 |
-53.52% |
+75.75% |
| condo (all) |
214 |
135 |
223 |
-36.91% |
+65.18% |
| condo OF/OV |
59 |
46 |
86 |
-22.03% |
+86.95% |
| total |
513 |
421 |
601 |
-17.93% |
+42.75% |
| % chg prev. mo. |
-21.79% |
+13.47% |
-7.25% |
-29.62% |
