Now that summer is over and the crowds have left Myrtle Beach, property owners are wondering if there are still buyers looking in our market this time of year, as well as when and how to sell a condo or home. Let me explain what happens in the Myrtle Beach market throughout the year.
Selling Season #1:
Winter is the first selling season of the year. The buyers that are in Myrtle Beach during the Winter are typically snow birds who have strong financials and many of them pay cash for their investments. There are fewer buyers during the Winter yet a higher percentage of the buyers are qualified and know what they want. We love these buyers because they can make decisions and act fast when needed. Winter can sometimes be a good time to sell your house.
Selling Season #2:
Spring is the selling season that we start showing properties to golfers who are looking to invest in Myrtle Beach real estate. Similar to the snow birds, these buyers are typically well qualified and know what they want. They have cash though they tend to finance with larger down payments. Banks love to work with them because their credit is typically very good. Spring can be a very good time to sell property in Myrtle Beach.Selling Season #3:
Summer is when we have the largest number of buyers in town. This is what most would call our best selling season of the year. Though this is the time when we see the most buyers, this is also the time when we see more buyers failing to qualify and often deals never closing. Don’t get me wrong, we love the summer season yet the difference between this and the other seasons is Quantity versus Quality. Summer is possibly the best time to sell your house, home, or property.Selling Season #4
Fall is the final season before we start the cycle all over again. The Fall is very similar to the Spring selling season. Golfers are in town and they are qualified to purchase. We start to get the first wave of snow birds during this time also which adds to our pool of buyers. This is the time where the market starts to shift from quantity back to quality. As of now, we have many buyer appointments already set for buyers coming to the beach during this season. If you have a condo or house to sell, fall is also a great time to do it.
When Should I List my Property?
As you can see above, every season can be good to sell your home in Myrtle Beach. The most important factor is that your agent must understand this cycle and know what type of buyer is in town at the time. Each selling season requires a little different marketing strategy and once this is understood, your property is likely to sell.It is your goal for your investment that dictates when you sell. How long you can carry negative cash flow, or how long you can delay moving your family? These are the questions that will likely determine your decision. The time of year should never determine the decision. Think about it, no matter what selling season we were in, the market declined over the past 4 years. And, the same could be said about the hot market…it increased in every season.
If you are would like additional information on the market or would like to discuss any aspect of real estate in Myrtle Beach then please send me an email or give me a call.
Contributed by Greg Harrelson
Your Myrtle Beach Real Estate Resource
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