JULY 1, 2018
– Michael Atwood
This is the 2018 year-to-date report for all of sales for all Barefoot Resort properties which includes the Non-Residential properties and the Barefoot Resort Residential Properties. This includes all active, sold, pending, withdrawn, and expired properties.
Barefoot Single Family Homes
As a comparison to the previous year the sales, available listings and sales price remained flat. 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 2017. During 2018 the sales rate per month was 5.5 sales per month over this past year as compared to 6 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 24 pending sales for this year and that is the same level during 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. What we are seeing is an increase in the total market with new home sales being 35% of the total area market. The existing home sales have increased over the same period of the previous year.
Pricing is up slightly from the previous year because there are more resort condominium sales versus the golf villa units in Barefoot. Right now at the average rate of 18 sales per month this year, we currently have around 5 months of condominiums available in the Barefoot community.
We are optimistic about the market for this upcoming year. As we all know, interest rates are up slightly and have only had a small effect on the local condominium / townhome market.
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, because the commercial aspect of The Retreat has begun. But there will be fewer lots that are customizable as The Dye Estates lots sell.
The Barefoot Market continues to remain a highly desired area in which to purchase all types of properties. We are seeing that we are attracting more and more permanent homeowners each month as new sales take place. 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 in all areas of Barefoot Resort.
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.