January 1, 2022
~ Michael Atwood
This is the year-to-date real estate report for 2021 which includes sales for all Barefoot Resort properties. This includes both the Residential and the Non-Residential properties.
|YTD TOTALS||CURRENT ACTIVE||PENDING|
|PRICING||$495,213 (average sales price)|
(*This includes all active, sold, pending, & expired properties)
As a comparison to the previous year, the number of sales was close to the same as the previous year. But the average sales price was 21% higher compared to the previous year as higher-priced homes sold during this year in Barefoot Resort. The number of available properties was down slightly as compared to the previous year and the properties are selling at a faster rate compared to 2020. During 2021 the sales rate per month was 6.5 which was the same sales per month as compared to the previous year. We currently only have around 1/2 months inventory of homes available in the Barefoot Community based upon that sales rate per month. We have 7 homes pending now for this year and that is the same as the previous levels during the same time in 2020. The total dollar amount for homes sold in Barefoot Resort was 36,150,600!
We remain optimistic for the rest of the year as interest rates continue to remain steady compared to the same time last year. The average number of days on market was 61 compared to 124 the previous year. Now is a great time to place your property on the market if you are looking to sell your home here in Barefoot Resort. If you have friends or relatives looking to purchase here, then it’s time to get them here to get the best price for homes that are currently on the market. The market overall remains strong in our area and especially in North Myrtle Beach.
(*This includes all active, expired, pending, and sold properties)
Pricing has increased 9% in 2021 compared to 2020. That is a slight increase over the previous year. The year-to-date average monthly sales rate for condominiums and townhomes is 34.8 sales per month compared to the average of 20 per month in 2020. We currently have around 1/2 months of condominiums available for sale in the Barefoot Resort Community based upon the amount of inventory and the current rate of sales per month. The average days on market were 70 days which was also lower as compared to the results from 2020. The total dollar amount for condominiums and townhomes was $93,569,687!
We continue to remain optimistic about the market for the upcoming year. The current interest rates are somewhat flat as compared to this same time last year. If you are looking to sell now it is a great time for condominium sales as compared to the same time last year. So, if you are considering selling during this time of the year then it’s a good time to get your property on the market based upon current sales levels and pending transactions.
The Barefoot Market has continued to remain a highly desirable area in which to purchase all types of properties. We are also seeing that we are attracting more and more permanent homeowners each month as new sales take place. So, if you are considering making a purchase here then you must consider that the inventory is very low here and the prices have continued to climb in all areas of Barefoot Resort.
On the other hand, if you are considering selling, then I would strongly recommend having a pre-inspection of your property from a local home inspector and correcting anything that may reduce the price of your property. Another item to consider is to offer a home warranty with your property as we see those properties sell for slightly higher prices than other similar properties. Lastly, I would suggest considering some of the upgrades that the market is demanding to maximize the price point for your property which are newer flooring, upgraded appliances, granite countertops, and a fresh coat of paint. In looking closely at the condominiums and homes that sold recently in the higher price ranges all of them did have upgrades that the buyers showed that they are willing to pay a higher price for those properties.
In addition, the new Beach Cabana and the Western boundary wall will defiantly add value in the eyes of the buyers that are coming in record numbers to live here in the Horry County/North Myrtle Beach areas.