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Spring 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Pawleys Island. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 843-455-7412
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| Average Home Price | $250,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 5-10% |
| Average Time on Market | More than 120 days |
| Best Selling Price Range | $200,000 - $249,000 |
| Worst Selling Price Range | $1,000,000+ |
| Prices As % of Asking Price | 85-90% |
| Existing Home Prices for the past 90 days are? | Decreasing |
| Market Trend | No Change |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Pawleys Island is | Decreasing |
| Seller Activity for the past 90 days in Pawleys Island is? | Decreasing |
| Multiple Offers? | No |
| 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 | AS long as your credit score is 685 or better you can get financing. |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | There are a lot of good buys on the market. Foreclosures and short sales are keeping prices down. The inventory of short sales and foreclosures is starting to be depleated. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates creates a perfect time to buy a second home or primary in Pawleys Island! |
| Nearest Metro Area | Myrtle Beach |
| Housing Hot Spots | Most cities within the Georgetown County area are considered ’Housing Hotspots’ and Pawleys is still concidered the shabby-sheek vacation spot along the grand strand. If you are an investor or wanting a second home our vacation rental market is strong, making a home even more affordable. |
| Average Sold Price | $250,000 - View Graph Trend |
Pawleys Island Local News
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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Mortgage Rates
– May 28th, 2012 –
---------------------------------
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
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