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Current Housing Trends and Home Prices in Ocean Isle Beach

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A well, we are well into summer so it’s a good time to take a look at the snapshot for Ocean Isle Beach North Carolina. What’s going on, home prices, it’s a good time to buy or sell and how hot is the market?

Current Housing Trends and Home Prices in Ocean Isle Beach

About 400 properties for sale, the median list price is between 270,000 and 320,000. The discrepancy in price is based on foreclosures, potential sales, changes from listing price to sales price, and whether or not homes come on or off the market or if they have reduced their price on one website versus another. There are very few distressed properties in the market right now, meaning foreclosures or short sales, but that doesn’t mean that they’re not out there. Good deals are still to be had. It’s a somewhat balanced market. This means that we’re not totally geared toward sellers or buyers. This means that it’s a great time for both buyers and sellers to come together at the right price and the right property.

This small coastal town is home to less than 600 people year-round. So you wouldn’t think that be that many properties for sale, but seasonal residents, vacationers, and full timers all make up the real estate market. Ocean Isle Beach stretches from Sunset Beach North and along the intercoastal waterway to the Ocean Highway.

What does this mean for sellers?

It’s a great time to consider selling. The asking price and list price are very similar, which means that the gap between the asking price and selling price is very minimal. According to one website, the median list price is only $210,000 with a meeting closing price of $300,000. The price per square foot runs between $150 and $190. This may help when determining a good price range, but, looking at what has sold, the difference between asking price and selling price, and how long homes of sat on the market are all factors to getting the right market value for your home.

Home prices over the last six months have remained relatively balanced. Between January 2017 to June 2017, the number of houses that have sold has remained relatively the same. The average sold price and median sold price gone up slightly for both.

What does this mean for buyers?

Because this is not a seller’s market it’s also a great time for buyers.
Including a good deal without having competition. Understanding the sellers and their motivation may also be a good negotiating tactic when making an offer.

If you’d like more information about the current market trends your home might be worth in Ocean Isle Beach give me a call today.


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Sunset Beach NC Housing Market Update

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Real estate report and housing market update for Sunset Beach North Carolina as of May 2017.Sunset Beach NC Housing Market Update

As of the publishing of this post, the median list price is about $189,000 with the median sales price of $160,000 or about $114 per square foot for Sunset Beach North Carolina. There are about 375 properties for sale and for homes for rent.

Prices can vary based on the information and data received. For instance, one site might say that the median sales price is $155,000 and another say it’s around $160,000. What varies is based on the amount of data that site collects. There could be many properties out there that are either not listed, pre-foreclosure properties that should not be listed just yet, or auction properties that can bring down the median sales or list price. Surprisingly, Sunset Beach is some of the more affluent or expensive properties in North Carolina even though they only come in at around $150,000-$250,000 on average. Some property sites may list more homes based on pre-foreclosure properties, for sale by owner, coming soon properties or even auction properties.

Read More: What can you get for $400K in Sunset Beach?

Currently, properties in Sunset Beach range from $14,000 lots to $1.3 million beachfront lots. The highest priced home in Sunset Beach is priced at $1,250,000 for a five bedroom, 3000 square foot new construction home at 1409 Sunset Lane.

Beachfront homes tend to run more expensive between $250,000 and $700,000. Those along Hermitage Lane and other communities away from the beach tender range between $160,000 and $260,000. Over the last month, there have been 98 price reductions.

Currently, Sunset Beach’s home prices and market are geared toward buyers. There are several homes for sale and many price reductions in order to make it more enticing for potential buyers. Zillow’s home index value puts prices at $213,600, a nearly 2% increase over last year at this time.
So, as a buyers agent for Sunset Beach, it is my job to find the best property that matches your search criteria and price and to negotiate the best possible price and terms you deserve.

Call us today to start searching for homes in Sunset Beach and surrounding communities and towns.

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.

 

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

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