Why Is A Relationship With A Local Myrtle Beach Real Estate Agent Crucial To Wealth Creation – myrtlebeachsc.com
Whether you’ve tried selling your house on your own before or you’re looking to make your first sale, the process is usually quite complicated and rather exhausting.
Despite that, many homeowners decide to go through that trying process on their own. They argue that that way, they can cash in the house’s full amount instead of sharing it with real estate agents.
However, there is a reason 83% of sellers still readily choose a real estate agent to take care of the process. Are these people just giving up on some money for the sake of their mental peace, or are they actually looking at a greater picture?
Turns out, local Myrtle Beach real estate agents have the answer, and the latter is the case. Here’s how they go through the process.
The Real Estate Scene in Myrtle Beach
First, let’s take a closer look at the Myrtle Beach real estate scene for the past couple of years.
- Myrtle Beach Real Estate in 2020
The median sale price of houses grew by a significant 9.8% in October 2019 to reach $204,000. This growth resulted in positive forecasts for the Myrtle Beach real estate market in 2020, but we all know what happened next. The pandemic swept the globe, and the median sale price fell to $185,000.
However, this fall was only short-lived. The prices kept soaring till they reached an all-time high of $227,000 in November 2020. The year ended at a median price of $210,000 in December 2020.
- Myrtle Beach Real Estate in 2021
2021 started with some hope, where January saw an increase in the median sale price to $215,000, but it soon fell in February 2021 to $199,500. However, the median sale price only went higher from that point forward, reaching another all-time high of $247,000 in December 2021.
Despite that, the market was starting to shift. The number of closed sales was dropping, but it wasn’t due to the lack of interested buyers. It was just that there weren’t any more houses for sale in the market.
- Myrtle Beach Real Estate in 2022
This brings us to the real estate market situation in 2022. The median sale price keeps on rising. Properties for sale get sold within 56 days after being listed, as compared to 97 days in the previous year. However, only 458 were sold in February 2022, compared to the 476 sold in February 2021.
This consistent increase in the median sale price is really curious. Angela Fabbri, the marketing consultant for the Coastal Carolina Association of Realtors (CCAR), attributes this rise to the baby boomer generation retiring early due to the pandemic, many of …….