2017 Real Estate Summary

MARCH 1, 2018

– Michael Atwood

This is the 2017 year-end report for all of sales for all Barefoot Resort properties which includes the Non-Residential properties and the Barefoot Resort Residential Properties.

Barefoot Single Family Homes

Listings 397 available* 29 active, 18 pending
Sales 73 sold  
Pricing $349,429 average sales price  

* (This includes all active, sold, pending, withdrawn, and expired properties)

As a comparison to the previous year the sales, available listings and sales price remained flat. This was due to the slowdown during the storm weeks we have had during this past year. The number of available properties was down as compared to the previous year and the properties are selling at a slightly slower rate compared to 2016. During 2017 the sales rate per month was 6 sales per month over this past year as compared to 7 per month in the previous year. We currently have around 5 months of homes available in the Barefoot Community based upon that sales rate. We also have 19 pending sales for this year and that is higher than the same time in 2017. We remain optimistic for the upcoming year even though interest rates have raised slightly compared to the same time last year.

Barefoot Condo/Townhomes

Listings 494 available* 86 active, 29 pending
Sales 249 sold  
Pricing $184,126 average sales price  

*(This includes all sold, expired, withdrawn, pending, and sold properties)

Pricing is down slightly from the previous year because there were more golf villas sales versus the larger units in the Barefoot community. Right now at the average rate of 21 sales per month this year, we currently have around 4 months of condominiums available in the Barefoot Community. We are optimistic about the market for this upcoming year.

Barefoot Land

Listings 186 available 16 active, 1 pending
Sales 15 sold  
Pricing $106,000 average sales price  

Most of these available lots are in the Dye Estates. The lots that are available in the other areas of Barefoot continue to be reduced by single family home sales in The Retreat and Tuscan Sands. There are buildable lots available in The Retreat, The Dye Estates, and Tuscan Sands but they are selling faster than other areas of North Myrtle Beach. There will be additional phases available in The Retreat in the coming year only when the commercial aspect of The Retreat has begun. But there will be fewer lots that are customizable as The Dye Estates lots sell.

According to this market, the absorption rate for the lots in The Dye Estates is showing less than one year left based upon recent sales numbers.

In summary…

The Barefoot Market continues to remain a highly desired area in which to purchase all types of properties and we are seeing that we are attracting more and more permanent homeowners each month. So if you are considering making a purchase here then you must consider that the inventory is getting lower each month and the prices have begun to climb.

On the other hand if you are considering selling, then I would strongly recommend having a pre-inspection of your property from a local home inspector and correcting anything that may reduce your price of your property. Another point is to consider offering a home warranty as we see those properties sell for higher prices than other similar properties. Last I would suggest considering upgrades that the market is demanding in order to maximize your price point for your property.

If you would like a market analysis for your property feel free to contact me at michaelatwood@chicora.net or 843-997- 2799.