What does "the market is hot" really mean?

Good Morning from Myrtle Beach.  I'm sitting on a balcony admiring the ocean and hearing the waves and what better way to soak in this beauty than by reviewing real estate stats.  Yup - exciting stuff.  You know in school I really hated stats and said I'll never use this crap.  Yet, here I am writing about stats and they are an integral part of my business.  Honestly, if you ever talk to a real estate agent that cannot give you a few up to date, relevant statistics it's time to move on. Agents that don't know, or understand, the market honestly are dangerous and do you want to put your biggest investment in the hands of someone that is dangerous? Me neither. Check out our local stats from last week and let me know what you think.  Also, I just listed a house yesterday in Sangaree and we had at least a dozen showings in the first day. If you're home is for sale and you have not had at least 5 showings in the first day then reconsider your marketing efforts. Of course, just call me and I'm here to help you sell and buy.

www.Palmettodreamhomes.com

Jason Gregg, Realtor

ERA Wilder Realty

Jason.Gregg@era.com

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Real Estate during the week of 5/5/17-5/11/17

• 377 residential properties under contract past wk. Excellent week.
• 301 single family homes under contract past wk. Median LIST price $263k, $140/sqft.  
• Only 2% are short sales
• 47 island single family homes under contract past wk.
• 17 James Island single family homes under contract past week
• 16 Johns Island single family homes under contract past week
• 43 West Ashley single family homes under contract past week
• 25 North Chas single family homes under contract past wk LISTED from $29k-$283k.
• 50 Mt Pleasant single family homes under contract past wk LISTED from $244k-$1.9M. 5 Park West. Median $480k, $207/sqft.
• 5 Peninsula Charleston single family homes under contract past wk LISTED from $255k-$575k.(Low this week)
• 65 Summerville/Ladson single family homes under contract past wk LISTED from $84k-$550k. 6 Wescott, 6 Ashborough. Median $220k, $122/sqft.
• 63 Hanahan/Gs Creek/Moncks Cnr single family homes under contract past week LISTED from $75k-$389k. 6 Crowfield.  Median $190k,$111/sqft.
• 65 condo/townhomes under contract past wk. 4 LISTED under $100k. 38 from $100k-$199k. 13 from $200k-$299k. 7 from $300k-$425k. 3 from $500k-$1.5M. 15 Mt P.