I wanted to update you on what is happening in the Myrtle Beach real estate market right now, you hear the media about what is going on around the country, these are the actual numbers reported by our CCAR MLS. January, we are down in 2008 versus the same time in 2007.
The MLS showed:
Land
2007 100 lots sold
2008 59 Lots sold
Residential
2007 346 Homes sold
2008 214 Homes sold
Condominiums
2007 305 Condos sold
2008 151 Condos sold
February is slow month even in the good years, and we have seen that so far it is holding true this year. The Willis Team feels positive that this cycle will end, and we are hoping soon. There are many new projects opening up around the Grand Strand, such as Withers Preserve in April, this will be a work and live area, with some great new stores and restaurants such as PF Chang, and William Sonoma, and a new movie Theater, in the past we have had several outlet malls to open, but this project offers some upscale names that we need at the beach. Then we have the first in the world Hard Rock Theme park opening in April, this will be located just south of highway 501 where the old Waccamaw pottery used to be, and the list goes on, this is an exciting time at the Beach. We will keep you updated as to the numbers, and we want to assure you that although we are in a down cycle we are marketing your property to give full exposure, so when the buyers come back, they will know where to come to. We will keep you posted through the month on what property is listed and also if a property goes under contract.
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