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محتوای ارائه شده توسط Blake Sloan. تمام محتوای پادکست شامل قسمتها، گرافیکها و توضیحات پادکست مستقیماً توسط Blake Sloan یا شریک پلتفرم پادکست آنها آپلود و ارائه میشوند. اگر فکر میکنید شخصی بدون اجازه شما از اثر دارای حق نسخهبرداری شما استفاده میکند، میتوانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal
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Massive Shift In The Myrtle Beach Real Estate Market
Manage episode 348212294 series 3353585
محتوای ارائه شده توسط Blake Sloan. تمام محتوای پادکست شامل قسمتها، گرافیکها و توضیحات پادکست مستقیماً توسط Blake Sloan یا شریک پلتفرم پادکست آنها آپلود و ارائه میشوند. اگر فکر میکنید شخصی بدون اجازه شما از اثر دارای حق نسخهبرداری شما استفاده میکند، میتوانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal
An overview of the latest market data and what it means for you. Our latest market numbers are very interesting. The way the marketplace has shifted since the start of the year has been dramatic. Today I want to share some of the latest data with you. Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure: 0:00 — Introducing today’s topic 0:50 — 41% drop in new properties under contract & 37% drop in volume 1:35 — 25.1% fewer homes sold 1:55 — The median price is up by 7.5% 2:15 — The average price has plateaued, and is only up by 0.5% 2:50 — Buyer demand has decreased by 25%, and supply is up by 46.7% 3:15 — Showings per listing are down by 31.3% 3:25 — Condo sales are down by 23.5%, but inventory is up by 90.9% 4:40 — Over the last five years, prices have risen 71.9% 5:55 — We have 69,578 active buyers looking on our website 6:20 — Wrapping up If you have any questions, don’t hesitate to reach out to me by phone or email. I’d love to help you.
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54 قسمت
Manage episode 348212294 series 3353585
محتوای ارائه شده توسط Blake Sloan. تمام محتوای پادکست شامل قسمتها، گرافیکها و توضیحات پادکست مستقیماً توسط Blake Sloan یا شریک پلتفرم پادکست آنها آپلود و ارائه میشوند. اگر فکر میکنید شخصی بدون اجازه شما از اثر دارای حق نسخهبرداری شما استفاده میکند، میتوانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal
An overview of the latest market data and what it means for you. Our latest market numbers are very interesting. The way the marketplace has shifted since the start of the year has been dramatic. Today I want to share some of the latest data with you. Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure: 0:00 — Introducing today’s topic 0:50 — 41% drop in new properties under contract & 37% drop in volume 1:35 — 25.1% fewer homes sold 1:55 — The median price is up by 7.5% 2:15 — The average price has plateaued, and is only up by 0.5% 2:50 — Buyer demand has decreased by 25%, and supply is up by 46.7% 3:15 — Showings per listing are down by 31.3% 3:25 — Condo sales are down by 23.5%, but inventory is up by 90.9% 4:40 — Over the last five years, prices have risen 71.9% 5:55 — We have 69,578 active buyers looking on our website 6:20 — Wrapping up If you have any questions, don’t hesitate to reach out to me by phone or email. I’d love to help you.
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54 قسمت
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×Buyers and sellers need to understand what’s happening in our market. “What’s happening in our real estate market?” People ask me this all the time, and I understand why. Things have changed a lot in our area recently, so today, I’ll share the latest numbers with you. Here’s the short version: Single-family home sales are down, but prices are actually up a little bit. Specifically, single-family sales are down 28.1% year over year. In October 2022, we had 477 home sales, while in October 2021, we had 592. As I mentioned, the good news is that prices remain high despite decreasing sales. The median price in October 2022 was $359,577, which is actually 12% higher than it was this time last year. In fact, prices are even up month over month; in September, the median price was $356,000. The average sales price was $454,000 in October 2022, which is also a 12% increase year over year. Why are prices increasing despite decreasing home sales? This phenomenon could be due to our extremely limited supply. Inventory has increased 53% year over year, but that still only leaves us with 2.3 months of supply. This means that if no new homes entered the market, it would take about 2.3 months for all of them to sell at our current pace. For reference, six months of inventory is considered a balanced market, and anything less than that favors sellers. “Typical agents are running scared from this market, but our team is doubling down.” This is one of the main reasons why our market is completely different from 2008: We have yet to reach the amount of inventory we had before the pandemic. The number of new listings hitting our market is down 24% year over year. In fact, there were only 554 new listings in all of Grand Strand in October. 814 in June 2022 was the peak for new listings. While low supply is currently protecting home prices, we aren’t sure how long it will last. A lot of investors are cashing out near the peak of the market while they can. One indicator of a slowing market is that condo sales are down 39% year over year. The condo market is usually affected before single-family homes, so this could indicate where things are heading. Despite this, condo prices also remain high; they were up 19.5% year over year in October 2022. Generally, our market still has high demand. Investors still want to purchase in our area, and people are still moving here from all over the country. To help buyers, our team has had to get a little creative by getting sellers to agree to pay for 2-1 buydowns. This helps buyers lower their interest rates, and we can often negotiate so that there is no upfront cost. Typical agents are running scared from this market, but our team is doubling down. Just take our website, for example. We currently have 69,935 active and registered buyers who trust us to help them purchase a home. We outspend your run-of-the-mill agent 100 to one on marketing, and it pays off. Since we’re made up of a team of specialists, each member has one job they understand inside and out. This way, you get the absolute best in every aspect of your home purchase or sale. You deserve the best, especially in this market. You can click here for a free home valuation and here for a home search in Grand Strand. If you have any questions, don’t hesitate to call us. We are always willing to help.…
Myrtle Beach Real Estate Podcast With Blake Sloan Week Of 11-13-22
Myrtle Beach Real Estate Podcast With Blake Sloan Week Of 11-05-22
Myrtle Beach Real Estate Podcast With Blake Sloan Week Of 10-28-22
An overview of the latest market data and what it means for you. Our latest market numbers are very interesting. The way the marketplace has shifted since the start of the year has been dramatic. Today I want to share some of the latest data with you. Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to browse specific topics at your leisure: 0:00 — Introducing today’s topic 0:50 — 41% drop in new properties under contract & 37% drop in volume 1:35 — 25.1% fewer homes sold 1:55 — The median price is up by 7.5% 2:15 — The average price has plateaued, and is only up by 0.5% 2:50 — Buyer demand has decreased by 25%, and supply is up by 46.7% 3:15 — Showings per listing are down by 31.3% 3:25 — Condo sales are down by 23.5%, but inventory is up by 90.9% 4:40 — Over the last five years, prices have risen 71.9% 5:55 — We have 69,578 active buyers looking on our website 6:20 — Wrapping up If you have any questions, don’t hesitate to reach out to me by phone or email. I’d love to help you.…
Myrtle Beach Real Estate Podcast With Blake Sloan Week Of 10-14-22
The latest numbers for our market and what they mean for you. I just finished our weekly radio show, so I have the brand new market numbers out for you, and they’re very interesting. We have seen significant declines across the board, which is what we all expected. Single-family home sales are down 16.3% from this month last year, which is not that bad. We also had 555 sales instead of 658. Prices are still up year over year, which is good. They’re up 7.7% at $350,000, but the bad news is they’re down from the peak, which was in May at $380,000. The average sale price is still up 6.5% year over year at $436,108. That’s also down from the peak this year at $486,984, which is about a $50,000 drop since earlier this year. That has obviously been a big change because interest rates have gone up. Some buyers have just pumped the brakes, but we have seen about an 11% drop in the average sale price so far this year. I do think this is a bit more of a normalization. We talked about that in today’s show. The market is still not even back to where it was before the COVID-19 pandemic in terms of the actual amount of sales and inventory. “The good news is that it’s still a very good time to buy.” Right now, inventory is up 33.3% from the same time last year at two months worth. That’s still a very strong seller’s market. Anything six months or below is a seller’s market. We just had some success stories today where we sold multiple properties with multiple offers. However, you are seeing that competition soften as rates continue to go up. That’s what we want to see. Condo sales are seeing a big decline as well. 522 condos sold this past August versus 699 in August 2021. Condo prices are still up, which is good—they are a bit more resilient. The median price rose year over year by 33.6% to $227,000, but that’s down from the $240,000 peak earlier this year. The average sale price is up 25.2% year over year at $261,315. However, it is also down from the peak at $276,805 Here is the interesting piece: Our supply is up by 58.3%, so we’re seeing a decline in buyers and an increase in supply. That’s why you’re seeing a softening of price. The good news is that it’s still a very good time to buy. This fall market is strong. If you’ve been thinking about selling or even making a lateral move, we have seen a big uptick in overall active properties. We’re at about 834 properties right now, and we were at 840 last week. If you’re thinking about selling, reach out and call us. We’re still seeing those amounts of home sales right now. On today’s show, I shared that we have 69,216 active buyers on my website who are looking for properties here, so we need inventory. We have buyers from all across the country, even international ones, and we’re very good at matching those buyers with sellers. If you ever think about selling, call me at (843) 808-SOLD. Share this with your friends and relatives. You can always go view our radio show on our YouTube channel—just search “Sloan Realty Group.” We are here to serve you and help you make good decisions with real estate. Reach out and call us for anything you need.…
Myrtle Beach Real Estate Podcast With Blake Sloan Week Of 9-10-22
Myrtle Beach Real Estate Podcast With Blake Sloan Week Of 9-4-22
Myrtle Beach Real Estate Show 9-2-22
Here’s what you need to know about the state of our housing market. Big-time changes are happening in our market. If you’re using yesterday’s logic to make decisions today, you could leave a lot of money on the table. In this blog post, I’ll cover everything you need to know about Myrtle Beach’s housing market. Things are slowing down, but can you still secure a great deal? I’ll answer that question and more in your latest market update. Home sales have been declining in our area since March when we had 702. In July, we had 504. I believe this trend is caused by rising interest rates, which started right around March. Despite fewer home sales, prices remain high. The average price for a single-family home is up 13.4% from this time last year at $452,711. Prices peaked this year at $486,984 in March before falling until June. However, prices were up slightly again in July. It seems like the initial shock from higher interest rates is over. The main reason our prices probably remain high is that inventory levels remain extremely low. “It’s still a great time to buy or sell a home, but you need a fantastic agent.” That being said, supply is still up significantly. There are 42.9% more homes on the market now than there were a year ago. We currently have around two months of inventory; last year, we had 0.9. The good news is that a seller’s market is anything below six months of supply, so prices won’t drop dramatically. Instead, they will likely soften. Fortunately, our area is pretty well-insulated from national trends. Myrtle Beach is one of the fastest growing cities in the country, so prices will be protected here. On top of that, I don’t expect the national market to crash. There’s been a massive shortage of homes all across the country since the last crash in 2008. Plus, millennial buyers are heading to the market in droves. If you’re looking to stay in your home for a long time, it’s a fantastic time to purchase a home. The bottom line is that this is a great time to buy or sell a home, but you need a fantastic agent. When the market was hot, your aunt could have sold your house and gotten a decent price. Now, you need a bona fide team of experts if you want the most money possible. Recently, we’ve had sellers coming from other places freaking out that their homes won’t sell. A discount agent or team might have worked a few months ago, but they won’t work now. My team spends tens of thousands of dollars on marketing to get your home in front of as many buyers as possible. Frankly, I enjoy this new market since it gives talented teams such as mine the chance to prove ourselves. The condo side of things looks similar to the single-family side. Sales are down, and inventory is up 72.7% from this time last year. Condos in our area tend to be vacation homes, so this makes sense. Second homes are usually the first things to go when times get tough. Just like with single-family homes, prices are still up 27.6% year over year despite our slowing market. Prices peaked around May at $276,805 before dropping down to our current $258,706. What does this all mean for you? In my opinion, sellers should move fast. Prices remain high, but we don’t know how long they will last. Meanwhile, buyers have more options as inventory increases. There are currently 835 properties for sale in Myrtle Beach, but 12 weeks ago, there were only 382. If you enter the market now, you’ll have less competition for great properties. Meanwhile, rates are lower than they have been recently; some of my clients have received rates in the high 4% range. If you are looking to make a move or have questions about this topic, please call or email my team. We’d love to speak with you.…
Here’s what buyers and sellers need to know about our market shift. What’s happening in our real estate market? Things are changing rapidly, and you need to stay informed, if you want to make smart decisions. Let’s look at the latest numbers from June 2022 and see what they say about our market. The biggest news is that sales are down. Sold homes are down 27.5% year-over-year, but this trend didn’t start in June. Home sales have slowly been ticking down since mid-April. This is likely due to our rising interest rates and slowing demand. Despite sales being down, the median price remains high. We peaked in May at around $380,000, while the median price in June was $375,000. Meanwhile, the average price peaked in April at $486,994, but it was closer to $457,000 in June. This is still a year-over-year increase of 14%, so the news isn’t all bad for sellers. “Sellers need to move fast if they want top dollar. ” Supply is also increasing. We currently have 1.6 months of inventory, which isn’t much, but it’s the most we’ve had in a very long time. Buyers have more options to choose from, and it’s reflected in our data. Showings per listing are down 23% month over month. Condo sales are down 40% from last month. Much like single-family homes, inventory is increasing, but prices remain high. No one knows how long prices will stay this high, so if you’re looking to sell your home or condo, we recommend you move sooner rather than later. Low supply should protect prices somewhat, but no one knows for sure. If you have questions about today’s topic or anything else, please call or email us. We look forward to hearing from you!…
Myrtle Beach Real Estate Show 7-5-22
Myrtle Beach Real Estate Show 6-24-22
Myrtle Beach Real Estate Show 6-14-22
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