MYRTLE
BEACH,
SC – Appraisers observe steadily
improving market conditions on Grand
Strand. April and May research and
appraisal orders reflect more activity,
fewer days on market, and in some cases,
price increases:
-Gardens
at Cypress Bay 2-BR condominium
contracted 5/15/08 following a
bidding war that pushed contract price
3% higher than list price.
$100K to $150K price range. Scheduled
to close early June.
-Shipwatch
Pointe II Unit P105 sold 5/1/08 for
$160,000. Contracted only four (4)
days after being listed; sold at 94%
of list price.
-Single
family in Crescent Beach, contracted
52 days after being listed, pending
sale, contract price is 90% of list
price, $250K-$300K price range
-Arcadian
Dunes condo Unit #11-241, 45 days on
market, sold 5/9/08 for $135,500
representing 96% of list price
-Arcadian
Dunes condo unit #16-362 sold 12/6/07
for $153,000. Worth noting is its
price has increased $28,100 since it
last sold 2/11/05 for $124,900.
-Research
at Island Vista condos revealed price
increases on three recent condo sales,
as follows:
Unit #1013 closed 4/22/08
for $305,000. It last sold 5/19/06 for
$239,900.
Unit #813 closed 3/24/08 for
$300,000. It last sold 5/9/06 for
$239,000.
Unit #812 closed 2/29/08 for
$300,000. It last sold 4/26/06 for
$239,000.
And now one similar unit, a
FSBO, is pending at Island Vista for
$320,000.
-Single
family in The Gates at 2002 Chadbury
Lane sold 4/11/08 for $240,000. Worth
noting is its price has increased
$17,100 since it last sold 7/15/05
for $222,900.
-Single
family in Long Bay Club, 794 Bear Lake
Drive, sold 5/12/08, contracted 39
days after being listed, sold for
$395,000 representing 93% of list price
-Single
family in Creekhaven at Prince Creek
West, 921 Refuge Way, closed sale, 94
days on market, sold 2/8/08 for
$260,177 representing 97% of list price
-Single
family in Laurel Bay at Prince Creek,
223 Laurel Bay Drive, closed sale, 79
days on market, sold 4/4/08 for
$280,000 representing 93% of list price
-Condo at
Laguna Keyes, closed sale, contracted
46 days after being listed, sold
4/30/08 for $499,000 representing 91% of
list price
-Several
floor plans at The Market Common have
been contracted in the last month for
prices about 3% higher than year-end
2007 prices.
-Single
family in Pinecreek, contracted 13
days after being listed, pending
sale, 98% of list price, $200K to $225K
price range
-Dunes
Pointe condominums: In the last month,
four units have gone contract pending
when, according to MLS, there have been
no sales or pending contracts in the
prior year.
For more
information, contact Certifax Appraisals
Kay Van
Hoesen
Certifax
Appraisals
1297
Professional Dr., Suite 201
Myrtle
Beach,
SC 29577
Phone:
843-497-9155, Ext. 103
Fax:
843-497-6252
www.certifaxappraisals.com