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Market Trends
Commentary Provided bySylvia Simpson If you can qualify, now is an exceptional time to buy a home in Garden City. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 803-804-1008 |
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| Report Date | Fall 2009 | ||
| Nearest Metro Area | Myrtle Beach | ||
| Buyers’ or Sellers’ Market | More sellers than buyers | ||
| Average Time on Market | More than 120 days | ||
| Market Trend | Decreasing | ||
| Housing Inventory | Good supply - Some Prices | ||
| Average Home Price | $325,000 - View Graph Trend | ||
| Best Selling Price Range | $250,000 - $299,000 | ||
| Worst Selling Price Range | $1,000,000+ | ||
| Compared to Last Year | Down 5-10% | ||
| Prices As % of Asking Price | 95-100% | ||
| Multiple Offers? | Yes | ||
| Multiple Offers Commentary | Bank owned properties and short sales are getting multiple offers but your conventional sellers are motivated by the REO and short sale market. | ||
| Greatest Activity | Investors | ||
| Buyer Activity for the past 90 days in Garden City is | Increasing | ||
| Seller Activity for the past 90 days in Garden City is | Increasing | ||
| Is Financing Available For Qualified Buyers in Garden City? | Yes | ||
| Existing Home Prices for the past 90 days are | No Change | ||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% | ||
| Housing Hot Spots | All of Horry County is a housing hotspot due to national economic conditions. The Grande Dunes has gotten the attention of many new retirees in this area. It is a very upscale developement with a marina as well as oceanfront properties. | ||
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates creates a perfect time to buy in Garden City! In many cases prices are 50% less than 2 - 3 years ago. It is a coastal town located south of Myrtle Beach and promotes itself as a family beach. | ||
| Average Sold Price | $325,000 - View Graph Trend | ||
| National Real Estate Market | |||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... | |||
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Sylvia Simpson
Watermark Real Estate Group Garden City Beach, South Carolina 803-804-1008 ssimpson@watermarkagents.com Agent Home Page 
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Garden City Local News
News for Garden City, SC - Tuesday September 22nd, 2009 5:52pm
Wa are having a half price sale in the Myrtle Beach area with foreclosures driving the market. The time is favorable to pick up that great second home or enter the investment market. Prices on properties located close to the beach are 50% to 60% less than they were 2 years ago. There are still many great buys!!!
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