December 1, 2019
– Michael Atwood
This is the first 11 months of 2019 report for all sales of Barefoot Resort properties which includes the Non-Residential properties and the Barefoot Resort Residential Properties. (*This includes all active, sold, pending, withdrawn, & expired properties)
Barefoot Single Family Homes
|YTD TOTALS||CURRENT ACTIVE||PENDING|
As a comparison to the previous year the sales and sales price increased and the sold cost per square foot increased over last year. The number of available properties was even as compared to the previous year and the properties are selling at a slightly faster rate compared to 2018. During 2019 the sales rate per month was 5.90 which is slightly higher sales per month as compared to the previous year. We currently have 4 months of homes available in the Barefoot Community based upon that sales rate. We also have 12 pending sales now and that is lower compared to the same levels in 2018.
We remain optimistic for the rest of this year as interest rates have been reduced recently and that typically brings on more buyers to the market. What we are seeing is an increase in the total market of new home sales. That level is 37% of the total area market. The existing home sales have remained strong compared the same period of 2018. Now is a great time to place your property on the market if you are looking to sale your home here in Barefoot. The market overall still remains strong in Barefoot and also in the North Myrtle Beach area. North Myrtle Beach is 10% higher is all categories with sales price and fewer days on the market which are solid trends for our areas.
(*This includes all sold, expired, withdrawn, pending, and sold properties)
Pricing is up around 5% from the previous year because of there were more resort villas sales during the same time this year versus the golf villa units in the Barefoot Resort community. Year to date the average rate for condominium is 25 sales per month. We currently have around 3.16 months of condominiums available for sale in the Barefoot Community based up the amount of inventory and the rate of sales.
We are optimistic about the market for the rest of this year as we know that interest rates are lower as compared to the same time last year. If you are looking to sell now is a good time for condominium sales as compared to the same time last year. So if you are considering selling during this time of the year then it’s a good time to get your property on the market based upon current sales levels and pending transactions.
Most of the available buildable lots remain in the Dye Estates and Tuscan Sands. The commercial phases in Barefoot Resort are currently working on the build out of three units with additional units in the planning process. The next phase of residential properties are in the planning stages now and we are expecting the infrastructure to begin during the first quarter of 2020 as the permits are in the approval process by the City of North Myrtle Beach.