Myrtle Beach Real Estate

The number of resale condos sold in the first quarter dropped from 1,820 last year to 1,348 this year. New condo sales increased 15 percent from 1,042 to 1,202, at the same time, sales of new homes increased 53 percent from 697 last year to 1,065 this year. Sales of resale single-family increased 34 percent from 954 last year to 1,282 this year.

"The new home market continues to grow. The resale market for condos is soft and the resale market for single-family continues strong," said Bernard Helm, president of M.O.R.E. Builders are not having trouble selling their new condominiums however; owners are having problems selling their units. Tom Moeser, president of the Fortune Academy of Real Estate, said that the condominiums built in the 1970s and 1980s are smaller and lack the amenities of the ones built today. He believes that we are building condos more as a place to live than a place to rent and that doesn't seem to be making resale look so good.

Phil Cox, Broker-in-Charge at Myrtle Beach Resort Vacation Services responded to this. “While this may be true in many complexes, the ocean front Myrtle Beach Resort has kept up with the newer construction by adding amenities on a regular basis, the latest a large water park with a 500 foot lazy river. A wise buyer would take a look at the thousands in savings he can enjoy with a previously owned condo.” For a look at prices, go to www.myrtle-beach-resort.com.