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What Can You Get for $400,000 in Sunset Beach NC?

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Considering a move to the North Carolina shores? Sunset Beach makes an ideal place for a retirement, second home, vacation property or permanent beach residence.

Currently, as of the publishing of this post, prices are about $173,000 for a median sales price. The price per square foot comes in at about $136.What Can You Get for $400,000 in Sunset Beach NC?

The median price has gone up over the last several years that really peaked in February 2016 up to nearly $250,000 for a median sales price. The price per square foot has gradually gone up over the last five years and we are back to precrisis prices.

$400,000 can buy a pretty beautiful home in Sunset Beach. Currently, there are 11 homes for sale priced between $380,000 and $420,000.

The majority of homes are on the barrier island side, south of the Intracoastal waterway. Several are in golf courses and there are two condominium units priced from $406,000.

If you’re looking for a beachfront home for exactly $400,000 you might check out this a beautiful four bedroom and for bath, 2000 square-foot home with spacious loft, porch area, hardwood floors, stainless steel appliances and two master bedrooms with private bathrooms. This property was built in 2006 and features gorgeous furnishings and coastal touches.

If you’re looking to build your own there is a lot for sale at $395,000. This 40,000 square-foot lot is located at 704 S. Sunset Boulevard.

Close by at 1006 West Main St. is a four bedroom and two bath home with 1326 ft.² priced at $389,900. Many of the coastal homes only have lots of around 5000 ft.² but many may have beach access.

Currently, the closest home to the beach is at 430 Mylan St. offering four bedrooms, two bathrooms, and 1200 ft.². This $399,900 home is a cozy Beach retreat, ideal for a second home, vacation rental, or personal residence. It offers a screened in front porch, carport and a new seawall with dock.
Of course, the homes priced anywhere from $200,000 to over $1 million on the barrier island side of Sunset Beach but if you’re looking for a home about $400,000 you have several options to choose from.schedule

Would you like a complete list of these properties or other properties that meet your search criteria and price range? Contact us today and I would be happy to give you a customized search result list for homes that meet your expectations.

 

Rents are Higher Than Mortgages in North Carolina

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Rents are Higher Than Mortgages in North Carolina

In a recent article by MSN Money magazine, rents and mortgages were compared across the country in each state averaging out which is more, average rents or average mortgages. For North Carolina, the monthly rent came in at $1175 per month whereas the mortgages came in $1089.

“Three North Carolina cities, Charlotte, Raleigh and Durham, rank among the 50 most expensive rental markets according to the Zumper National Rent Report. Homebuyers in the state can get a better deal, though, with the median monthly mortgage cost $86 lower than the median monthly rent in the state. Plus, the National Association of Realtors list Raleigh North Carolina is one of the best metropolitan areas for aspiring millennial homebuyers.” [Source]

That being said, places along the coastline such as Calabash, Sunset Beach, Ocean Isle Beach and Holden Beach offer median rent between $1100 and $1600 per month whereas median home values fluctuate between $115,000 and $500,000 based on size, condition and of course location. Beachfront homes tend to run more on average for rent and for monthly mortgage payments. Median home prices for Ocean Isle Beach are about $430,000. This puts an estimated monthly mortgage payment of around $1550.

Just south of Sunset Beach in Myrtle Beach, the median rent is about $1425 per month. Here are the median home prices roughly $480,000. This puts a monthly mortgage payment of an estimated $1700. This more popular and more populated city tends to run more on average for homes and real estate listings but of course, for a similarly priced rental market you’re probably looking at about $1800 per month.

If you’re on the fence about renting or buying, give us a call! We would be happy to run some numbers for you and offer you an average price of the types of homes in your neighborhood, search parameters and your budget. We can help you decide whether renting or buying would be a better option at this time.

 

Myrtle Beach Home Prices and Values

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Myrtle Beach lies just over the border of North and South Carolina in SC and home to about 30,000 residents. There are nearly 30 neighborhoods and it’s the 14th largest community in South Carolina. It also has some of the most expensive homes in the state. Myrtle Beach Home Prices and Values

Currently, Myrtle Beach has a median list price of $179,000 and an average list price of $205,000 for the end of 2015. Of course this is when there are not many homes on the market and prices in general are a little lower. Home prices rise greatly in the summer months and over the last 20 years appreciation has gained over 105%. In the last 12 months, appreciation has increased 8% and over the last quarter over 2%. 

The median days on the market is about 124 for this time of year, which has increased slightly from one year ago. The median price per square foot is $126. There are very few distressed properties on the market anymore but buyers can find a fixer or great short sale here and there on occasion.

In a recent article by MyrtleBeachOnline, the home equity for homes in this area increased greatly in 2015. We are back in line with a balanced market after the crash nearly 10 years ago and the market is priced to historical norms.  Homes purchased in 2012 have seen a near 16% growth gaining an average of $30,000 and a nearly 5% growth just since 2014. 

Jobs also have been a huge factor in new residents for Myrtle Beach. Over the last year, the job market created 3,900 new jobs and the current unemployment rate is 7.5% however this is slightly higher than the national average. The area is still creating more jobs at a rapid rate which outpaces the national average and draws more potential home buyers into the market. 

If you’re looking to buy or sell in Myrtle Beach in 2016 you should be set to gain a profit. Increases are inevitable and if you’re wondering what your home may be worth, give us a call at anytime!

Holden Beach Real Estate Report

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Holden Beach is located in Brunswick County and home to about 1100 residents. The median list price is about $600,000 however there are several homes under the $100,000 range including lots in vacant land, perfect for building.Holden Beach Real Estate Report

Because this is a smaller community located right along the ocean, sales price is can vary greatly based on the number of homes currently for sale and one or two low or high prices can skew the average or the median. The median list price for ZIP Code 28462 is about $235,000. This includes a lot of Ocean Isle Beach, Southport and a lot of Brunswick County. However, Holden Beach is located between the ocean and the intracoastal waterway. Currently there are about 200 properties for sale including single-family homes, manufactured properties, for sale by owner and lots and land. The highest priced home is $2,095,000 for a 10 bedroom and 11 bath home with over 5000 ft.² on Ocean Boulevard. The least expensive home is a condominium for sale listed at $224,300. This is for a two bedroom and three bath condo with 1000 ft.² of living space. The cheapest property at all is a $99,000 .40 acre lot located on Sailfish Drive.

There are numerous homes in the $400,000-$500,000 range featuring two and three story properties, gorgeous ocean views and/or ocean access, three and four bedroom floor plans up to 2000 ft.². Lots are between 4000 ft.² and 7000 ft.².

A little bit of basic information about Holden Beach: cost of living on average is $55,600 a year, 8.1% higher than the state average. Population is 5.5% lower than it was in 2014. Seasonal highs are around 90° in the summer time and lows are about 35° in the winter. The average listing price is about $115,000, but this includes all vacant lots as well. The average home price per square foot is about $68. The average sold price is about $146,000. The median age is 63 with the median household income of $58,419. 75% of residents are married, 4.4% are single parents, 15.3% are married with kids and 5.2% are single.

For more information on demographics, property values, home prices and more in Holden Beach please contact us today or start your online search for all properties and homes for sale in Holden Beach here. Image from actual MLS listing in Holden Beach

Southport NC Real Estate Report

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 Southport NC Real Estate Report

Southport North Carolina is located along the intracoastal waterway between Smith Island and Oak Island just south of the Sunny Point Military Ocean terminal.   There are approximately 3000 residents year-round even though during peak tourist seasons the population rises to nearly 20,000 residents, tourists and guests.

Currently at the publishing of this post There is 165 properties for sale in Southport. All of these properties along a type of Peninsula the jets out into the Elizabeth River and Cape Fear. Properties for sale including all lots and land start at $120-$1,500,000, also for a plot of land along the waterfront covering 2.25 acres. The highest priced house for sale is currently at $900,000 located on River Drive featuring three bedrooms and two bathrooms.

 There are currently 47 single-family homes for sale. These are priced from $69,700-$900,000. The median house price is currently $290,000. The majority of homes are priced between $220,000 and $325,000.

 There are 13 condominiums and townhouses for sale price from $149,900 for a one bedroom and one bath 700 ft.² condominium on Brown Street to a two bedroom and three bath 1600 ft.² condo on Marina view Drive price to $254,900. The median condominium prices currently at $200,000.

 There are more vacant land parcels in Southport then single-family homes for sale. These lots are priced from $1600 to about $1.5 million. There are currently 105 properties for sale on vacant lots in parcels of land. These are all within the city limits of Southport. The median vacant land price is currently about $52,000. There are larger lots, over 1 acre, and smaller lots of about one quarter of an acre. These would be ideal for building a small dream home and many sit along the waterfront with beautiful views of the waterway. Every vacant home is different but some have been surveyed and subdivided and are ready to be built upon.

For more information on properties, current values or a list of homes and real estate that match your search criteria and price for Southport North Carolina please contact us at any time. You can browse the website for free and when you’re ready to Beulah home please let us know and will schedule a showing right away.

 
Image by Gerry Dincher Flickr

Sunset Beach Real Estate Report

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Buying and selling in the Sunset Beach real estate market means that you need to understand the current market trends, whether it’s a buyers or a seller’s market, and make sure you’re not paying too much if you’re purchasing or getting as much as you can if you’re selling. All of this means that you need to understand the trends, where the market has been and projections on where it’s going.Sunset Beach NC real estate market

This real estate market report is for September, 2015 focusing mainly on the Sunset Beach real estate market.

Currently the average list price is about $298,000. The median sales price is up nearly 20% over last year at around $175,000. The median list price is $185,000.

 Looking at the market trends over the last several years, the Sunset Beach area had a spike in 2009 with a median sales price was $381,000. Although it didn’t drop in 2010, it’s remained relatively stable. At the beginning of 2015 it hit its highest in five years and nearly $300,000.

 Throughout the Sunset Beach area and surrounding communities and villages there are roughly 380 properties for sale. These properties are priced from $22,000 for parcels of land to $2.6 million for a larger commercial development. The largest single family home is located at 1821 East Main St. priced at $1,695,000. This is a 4000 ft.² for bedroom and four bath home. There are currently three homes in the $1 million range, one home in the $900,000 range, and three homes in the $800,000 range.

 In the condominium and townhouse market there are currently 102 properties for sale listed from $69,000-$420,000. With in the city limits specifically there are 112 properties for sale total.

 For more information on homes, properties and townhouses for sale throughout the Sunset Beach real estate market please contact our office or browse more listings on our website at http://www.sunsetbeachandbeyond.com

 

 

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