We are currently working with customers looking for homes in Sarasota, Savannah, Charleston, the Low Country of South Carolina, Wilmington, NC, and other locations.  If you would like our personalized recommendations of which golf communities in the Southern U.S. best match your criteria, please fill out our Golf Home Questionnaire by clicking on the advertisement at the top of the left hand column below...
   |   
Text Size
Wednesday, September 14, 2016

Is Now a Good Time to Time the Market?

Written by 
Rate this article
(0 votes)

        At first blush, August real estate sales in the Wilmington, NC, area, seem like an anomaly, but the numbers imply this may be a good time to buy a home inside or outside a golf community in the area.
        Year over year sales for the month of August leaped by 30% in New Hanover, Pender and northern Brunswick Counties, which surround Wilmington. But –- and it is a big but -– median prices decreased more than 5% according to the area’s MLS (multiple listing service). Average sales price of a home in the region reached $260,000 in August, although the median price dropped to $206,000. The conclusion one can draw from those two numbers is that a disproportionate number of expensive homes sold during the month.
        The increase in homes sold, from 683 to 889, implies that inventory could begin to dry up in Wilmington, assuming most of those who purchased homes intend to live in them for at least a few years or use them as vacation homes (as opposed to buying them as investments). Those who planned to sell their homes beginning in 2008 but held off when the recession sent

Those contemplating a vacation home in Myrtle Beach certainly have evidence that condo prices have begun to rise after years in the doldrums.

prices plummeting have seen their home values increase enough in the last few years that they are selling and moving on. In the coming months, these post-recession sellers will have totally exited the market and the number of homes for sale very well may drop. And that always means a rise in prices.
        Down the coast in Myrtle Beach, which holds strong appeal to vacationing families and golfers, single-family homes and prices dropped in the July to August period by 6.5% and 4.5%, respectively. But the prices of condos increased by 1.5% to an average $120,000 and the number of condo units sold increased by 8.35%. In Pawleys Island’s Pawleys Plantation, for example, with a fine Jack Nicklaus golf course at its core and the beach just a five-minute drive away, the lowest priced condos have risen from around $125,000 to $200,000 in just the last year.
        Those who have been contemplating a vacation home in the Myrtle Beach area have enough evidence that prices are rising after years of price erosion in the area’s condo market. On the other hand, folks who are interested in a single-family home in the area will find some bargains in advance of the winter, when those who visit the Grand Strand from Canada, New England and other frigid places generally warm to the idea of a retirement home in the coastal South.
        Please contact us if you are interested in more information about Southern real estate.

Read 1796 times Last modified on Wednesday, 14 September 2016 12:49
Submit to DeliciousSubmit to DiggSubmit to FacebookSubmit to Google PlusSubmit to StumbleuponSubmit to TechnoratiSubmit to TwitterSubmit to LinkedIn
Larry Gavrich

This blog was conceived and is published by me, Larry Gavrich, a former corporate communications executive who founded HomeOnTheCourse, LLC, in 2005.  Our firm advises baby boomers and others seeking a lifestyle in which golf is a major component.  My wife Connie and I own a home in Connecticut (not on a golf course) and a condo at Pawleys Plantation in Pawleys Island, SC, on a Jack Nicklaus layout.  We began our search for our home on the course more than 15 years ago, and the challenges of the search inspired me to research golf communities and write objective reviews of them.

Google+

decisions-ad

Golf Homes for Sale

Click on any of the following for a chip and putt to some of the best golf communities in the Southeast.

Delaware

Florida

Georgia

North Carolina

South Carolina

Virginia