Home Buying in Myrtle Beach>Question Details

janemartin20…, Home Buyer in Myrtle Beach, SC

What time of the year, in Myrtle Beach, is considered to be a down market time? What months are buyers likely to get better deals?

Asked by janemartin2013, Myrtle Beach, SC Thu Aug 8, 2013

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The answer is subjective depending on the property type. Typically there is a little less demand for rental property towards the end of the rental season. The same can be said for single family homes in certain areas, where schools are soon to start and most people do not want to be going through a move during that time. To give you a definitive answer, I would say September through December would be the down market time although market is still somewhat steady from relocations and second homes.
1 vote Thank Flag Link Thu Aug 8, 2013
The slower periods of time for selling properties are generally January and February here in the Myrtle Beach area. As for getting better deals, that is all relevant to what a seller wants to do with their property and when. Some great deals are made nearly every day...even during prime selling season...as a buyer may decide to sell their property for whatever personal reasons they have. In fact, there are terrific deals out there today even as we wind down the summer season. If you'd be interested in having someone assist you in finding and buying a property, please fell free to give me a call and I'll be happy to discuss your personal needs and interests.
Thanks for taking to time to submit your question.

Pat Graw
Oceanfront Guru Real Estates Sales and Development
7508 N. Kings Highway
Myrtle Beach, SC 29572
843-839-5200 Office
866-262-3866 Toll Free
843-504-4588 Cell
patrickgraw@oceanfrontguru.com
0 votes Thank Flag Link Thu Aug 8, 2013
Hi Jane,

Will try to answer your question as best as possible as Real Estate is now in a new era normally slower the latter part of the year Dec-Feb. Due to the marketplace and financing has taking a sharp upward turn in 2013, it is not possible to know for sure if it will follow previous patterns. Myrtle Beach bottomed out early in the game, buyers and sellers slowly came back into the market, confidence in the housing market increased.

New construction has been aprox 3 years behind because of the uncertain previous market. Therefore, the inventory consisted of foreclosures and resales. Foreclosures have dropped drastically and resale inventory is less. New Construction has picked up at an amazing pace, but as I said previously is 3 years behind in most states in general.

Interest rates for the first time in a while have begun to inch forward. I doubt we will see anything in the 3% range for anytime soon (other than low term mortgages, i.e. 10-15 yr. That is a strong sign the economy is stabilizing. Therefore, people who have been doing the waiting game, may keep the marketplace strong throughout the year as homebuyers are still hoping to get a decent interest rate. Banks have also softened up on their lending. Those with starter homes may also be looking at larger homes and baby boomers are retiring at an incredible rate; number will continue to rise. They are looking for homes in the warm areas such as SC. We are experiencing a rental shortage as well, so there are investors looking to purchase.

I know this is a lot of info, but this is the criteria that I see making a difference in the market. If I can assist in any way. Please contact me at 860-262-1203 or email nancy@screalestatenetwork.com.

My Best,

Nancy
0 votes Thank Flag Link Thu Aug 8, 2013
Ocean Front condos are best bought Sept. Thru Dec. Everything else is good year round.

Thank you,
Michael J. Costello
Broker/Owner
Sea and Sand Realty
Myrtle Beach, SC.
(843) 333-1059
seaandsandrealty@gmail.com
http://www.seaandsandrealty.com
0 votes Thank Flag Link Thu Aug 8, 2013
Jane,
our market is not just a seasonal market. Buyers search for homes down here all times of the year. the slower season typically will be from November -end of January. Currently the inventory is getting lower in certain price ranges ( under 150K) if you are thinking about a purchase, sooner is better than later. http://www.suelucas.com
0 votes Thank Flag Link Thu Aug 8, 2013
Jane. Generally the market is a little slower Dec thru Feb, but we are experiencing a "new normal" or maybe no normal at all. Foreclosures are dwindling which means, pricing is stabilizing. That brings both buyers and sellers back into the market. The next year or so is going to be very interesting. With interest rates and pricing on the rise, I would consider buying sooner than later if that is your intention. If I can be of assistance, please click my picture and give me a call.
0 votes Thank Flag Link Thu Aug 8, 2013
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