There are currently 6,453 active Condo listings in the Myrtle Beach MLS.

During the past 90 days, 798 condos have been sold in the Myrtle Beach area.

At this rate (4.12% sales activity per month), it will take over two years to run out of inventory.  This is a significant improvement over past activity: the figures for August of last year indicated a 2.60% Condo sales activity, which translated into 3 years, 2.5 months to exhaust inventory.

Aside from the great improvement of our Condo Market, some specifics are worth noting:

Of these 6,453 listings, fully 850 (a whopping 13.17%) of them are spoken for:

426             pending financing

227              pending contingency contract

58               pending other contingency

139             pending cash terms

I have never relied on the media to tell me when it was time to buy.  I’ve always looked to the numbers for the truth.  These figures speak loud and clear:

This remarkable 13.17% “pending” activity, the highest we’ve had on condos in several years, clearly signals a shift.   If you are still sitting there in your easy chair waiting for some analyst to tell you it’s time to buy, think again: You’re already just a bit late, but if you hurry up, you’ll still ride the wave!

Mirela Monte, Your Myrtle Beach Condo Connection

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