MYRTLE BEACH, SC – Appraisers observe declining inventory with notable changes in listings-to-sales ratios.

In the last three weeks, appraisers at Certifax Appraisals have noted declining inventory in many product types.  When completing residential appraisals, the appraiser must state the number of comparable sales found in the last 12 months as well as the number of comparable listings in the subject neighborhood.  Last year, in almost all product types, the number of comparable listings far exceeded the number of comparable sales, often by 2-to-1, 3-to-1 and even 4-to-1 ratios.

Since October 1, 2008, Certifax Appraisals has made note of 12 examples in which the ratios were either in-balance or the comparable listings in the neighborhood were significantly fewer than the sales over the prior year, as shown in the table below.  Couple this local data with national statistics released last week (builders slashing production of new housing units), and clearly, this is a good sign for supply/demand factors and future real estate values in the Grand Strand market. 

If you are interested in purchasing a home or investment property in Myrtle Beach or surrounding areas please give Jake Lee 843-240-0431 a call or visit him on the web at www.SCRealEstatePartners.com . You can also "make an offer" online at www.SubmitOnlineOffer.com