ARRIVAL OF THE MYRTLE BEACH LUXURY MARKET

The Emerging High-End Market in Myrtle Beach

Despite the Punishing Bear Market in Residential Real Estate, Median Condo Prices are Rising. More than a year after the peak in residential real estate sales in Myrtle Beach, condo prices are still rising, most recently clocking in at an 8% year-to-year increase in Q3 2007 due to the significant mix shift to the high-end.

Emerging High-End Market Getting Traction: New developments have focused on condominium towers and Golf Course villas including new projects like the Holiday Sands Resort and North Beach Plantation - 350 units for $500k and up. The ultra luxury segment of the market is beginning to take shape, with recent condominium developments like the Ocean Blue Condo Resort, Bali Bay posting multi-bedroom unit prices of $1MM ++.

Myrtle Beach High-End Tourism Increase Driving Air Travel: Enplanements/Deplanements at the Myrtle Beach Airport have risen 19.1% year-to-year for the last twelve months ended February 2007.

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