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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Little River. Low rates, which are starting to rise! with low home prices, and a ton of inventory makes this a buyer’s market and purchasing a home now will get you a great deal, and the value can only go up! Call now for more information at John: 843-504-0559 or email me at jkim@oceaninvestments.com
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| Average Home Price | $150,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 0-5% |
| Average Time on Market | More than 120 days |
| Best Selling Price Range | $100,000 - $149,000 |
| Worst Selling Price Range | $700,000 - $749,000 |
| Prices As % of Asking Price | 95-100% |
| Existing Home Prices for the past 90 days are? | Decreasing |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Little River is | Increasing |
| Seller Activity for the past 90 days in Little River is? | No Change |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Although most properties are not getting multiple offers, some definitely are and they are the short sales and foreclosures for the most part. There are still quite a few of them on the market, which is keeping the prices down and stable for now, but more and more of these are selling faster, and less are on the market everyday. Soon, when all the distressed properties are almost totally gone, the prices will start to rise steadily. However most of the properties that are priced correctly are selling much faster(usually 50% to 60% faster) than those that are not priced correctly. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | For the most part, financing is readily available, especially for any type of property other than a resort style condos. These types of loans have become extremely tough, even for the very well qualified buyer. The good news is, there are still lenders willing to give resort style condo loans, but they are not as easy as they once were. Please call me for more details. |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | Investors |
| Reason to Buy/Sell | Population Growth |
| Nearest Metro Area | Myrtle Beach |
| Housing Hot Spots | Conway, North Myrtle Beach, Loris, Longs, Myrtle Beach, Carolina Forest, Ocean Isle, NC, Sunset Beach, NC, Calabash, NC, Surfside, Murrells Inlet |
| Average Sold Price | $150,000 - View Graph Trend |
Little River Local News
News for Little River, SC - March 5th, 2012 11:41am
We've had 99 residential homes and 73 condo/town homes sold in the past 6 months in Little River, SC. The median sold price for single family homes was $140,000, with the median days on market of 149 days per home, which is less than last time, so homes are selling at a slightly faster clip. The median sold price for a condo/town home was $70,000 which had a median days on market of 155 days, and the opposite is true for condos, the price has come down and the days on market have gone up slightly. There are currently 195 single family homes on the market in Little River, with a median asking price of $174,950, both the number of properties available ad the price of the properties have both come down. There are currently 216 condos/town homes on the market, with a median asking price of $101,500, again the number of unit available and the price has gone down for both.
News for Little River, SC - December 5th, 2011 9:11am
We've had 110 residential homes and 74 condo/town homes sold in the past 6 months in Little River, SC. The median sold price for single family homes was $157,746, with the median days on market of 153 days per home. The median sold price for a condo/town home was $80,950 which had a median days on market of 141 days. There are currently 215 single family homes on the market in Little River, with a median asking price of $182,990. There are currently 234 condos/town homes on the market, with a median asking price of $109,900. Single family homes have picked up nicely over the last 6 months with some nice gains, but condos have taken a bit of step back as far as sold unit and sold prices.
News for Little River, SC - June 8th, 2011 3:41pm
Please check out my blog, which is called Distressed Properties - Myrtle Beach. You can get the latest news on foreclosures, short sales and general tips for buyers and sellers. Here is the URL:
www.distressedproperties-myrtlebeach.blogspot.com
Thanks so much!
News for Little River, SC - March 16th, 2011 6:00pm
Please check out my blog, which is called Distressed Properties - Myrtle Beach. You can get the latest news on foreclosures, short sales and general tips for buyers and sellers. Here is the URL:
www.distressedproperties-myrtlebeach.blogspot.com
Thanks so much!
Contact Information
John Kim
843-504-0559
Request More Information Let me answer your questions!
Ask Me!
Mortgage Rates
– May 28th, 2012 –
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30 yr. fixed rate: 3.82%---------------------------------
15 yr. fixed rate: 3.11%
30 yr. jumbo rate: 4.38%
15 yr. jumbo rate: 3.61%
Home Values
StreetZip Code
Agent quarterly survey shows growing optimism toward a housing market recovery
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
End of tunnel, meet light. Real estate agents have been imagining that vision for a while, and first-quarter optimism in 2012 has some saying the road to recovery could be just around the corner.
Much of the upbeat attitude from HouseHunt's market condition survey stems from tighter inventory and houses not remaining as long on the market. Of agents reporting, 38 percent said inventory was tight in their cities, compared to 32 percent in the fourth quarter of 2011 and 13 percent at the beginning of last year. Regarding time on the market, 30 percent reported houses selling in 60 days or less, compared to 22 percent in the previous quarter and 10 percent at the beginning of 2011.
Click here for full article...
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Request More Information Let me answer your questions! Ask Me!
John Kim
The Hoffman Group
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 843-504-0559
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