With the warm weather inviting us to spend more time outdoors, “Improving Outdoor Living Space” takes center stage as we look at creative ways to elevate your patios, gardens, and decks. We hope these expert tips will help you unlock the full potential of your outdoor space.

As temperatures soar, “Ways to Save Energy During the Summer” becomes a vital concern for homeowners. Our quick guide offers practical strategies to keep your energy bills in check while maintaining a comfortable indoor environment. You’ll find valuable insights to make this summer season more cost-effective and environmentally conscious.

For those keeping a close eye on the local real estate market, our “Local Market Statistics” segment provides a data-driven overview of the current trends and developments in the area. Whether you’re a prospective buyer, seller, or investor, understanding the market dynamics is essential to make well-informed decisions. We’ll analyze the latest data, discuss emerging patterns, and offer expert insights to keep you ahead of the curve.

Thank you for joining us in this month’s Real Estate newsletter. We hope that the articles featured will empower you to make the most of your living space, save energy, and gain valuable insights into the local market. As always, I’m here to assist you with any questions or real estate needs you may have. Happy reading!

Top 7 Ways You Can Improve Your Outdoor Living Space

The summer months are the perfect time to enjoy your outdoor living spaces, but you may be seeing more potential in making it as awesome as it could be. Here are the top 7 most popular ideas on how you can improve your yard:

Install or extend a Patio or Deck: A patio or deck is a great way to create an outdoor room. It provides a flat, stable surface for furniture and a grill and can be customized to fit your home’s aesthetic.
Add Outdoor Lighting: Adding outdoor lighting can create a warm and inviting atmosphere in the evening. You can use string lights, solar-powered lights, or landscape lighting to enhance your outdoor space, making it cozy for evening use.
Invest in Comfortable Outdoor Furniture: Comfortable outdoor furniture is essential for creating a welcoming outdoor living space. From loungers to hammocks, consider investing in weather-resistant materials such as teak or aluminum.
Create Shade: The summer sun can be intense, so creating shade is important for staying cool and comfortable. Options for shade include umbrellas, pergolas, and retractable awnings, or even a tree for the long-term.
Incorporate Greenery: Adding plants and greenery can enhance the beauty of your outdoor living space. Consider adding potted plants or installing a vertical garden to create a living wall.
Add Water Features: Water features such as fountains, ponds, and waterfalls can create a calming atmosphere in your outdoor living space. These features can also help cool the air on hot summer days.
Install Outdoor Cooking and Dining Area: Installing an outdoor kitchen or grill and dining area to enjoy many family barbeques. Food always tastes better outside!

Bonus: Install a swimming pool. There are lots of options, from affordable above ground pools of all sizes to extensive in-ground pools custom designed just for you.

Did You Know …

That August 17th is International Geocaching Day? Invented back in 2000 this treasure-hunting activity uses GPS technology. Participants navigate to a specific set of GPS coordinates and then try to find the container hidden at that location.

Weird but True …

The world’s largest treehouse was built by Horace Burgess and was over 100 feet tall, had over 80 rooms and 10 floors. It took over 14 years to build but burned down in a mysterious fire in 2019.

7 Lesser-Known Ways to Save Energy During the Summer Months

Use Your Grill for Cooking meals: Cooking on your stove or oven can generate a lot of heat, which can cause your air conditioning to work harder. Using your grill to cook food outside can reduce heat inside your home and save energy.

Use a Clothesline to Dry Clothes: Using a clothesline to dry clothes instead of a dryer can save a significant amount of energy. Plus, your clothes will smell fresh and clean from the natural air-drying process.

Utilize Natural Ventilation: Opening windows and doors on opposite sides of your home can create natural ventilation and cool your home without using air conditioning.

Use a Solar-Powered Oven: Using a solar-powered oven to cook food outside can save energy and keep your home cool.

Optimize Your Swimming Pool: If you have a swimming pool, there are several ways to optimize its use to save energy. For example, you can reduce the amount of water you use by using a cover when the pool is not in use, and you can reduce energy consumption by using a variable-speed pool pump.

Use a Misting System: Installing a misting system can cool outdoor spaces such as patios and decks without using air conditioning.

Use a Whole House Fan: A whole house fan can pull cool air into your home through open windows and circulate it throughout your home. This can be a cost-effective way to cool your home without using air conditioning.

Bonus: Change your AC filter every few weeks and be sure to clean the exterior and interior coils to ensure optimum operational efficiency. Consider buying a service contract. May local homeowners have a heating and cooling service company visit twice a year to clean and tune up their system.

Lakeside Homes Market Common Myrtle Beach SC

Myrtle Beach Area Real Estate Market Conditions

Most Recent Data …

Temperatures are heating up, yet the U.S. housing market remains cooler than usual for this time of year due to a combination of low inventory and higher borrowing costs, which have restricted market activity going into the summer home buying season.

According to the latest data from the National Association of REALTORS® (NAR), national existing-home sales climbed 0.2% from the previous month but were down 20.4% compared to the same time last year, as fluctuating mortgage rates and a near all-time low level of inventory continue to influence home sales.

Closed Sales decreased 11.2 percent for single-family homes and 16.8 percent for condos. Pending Sales increased 13.7 percent for single-family homes but decreased 11.6 percent for condos.

Inventory increased 21.7 percent for single-family homes and 27.7 percent for condos.

The Median Sales Price was up 2.8 percent to $373,000 for single-family homes and 4.4 percent to $250,985 for condos.

Days on Market increased 14.6 percent for single-family homes and 22.7 percent for condos.

Months Supply of Inventory increased 50.0 percent for single-family homes and 82.4 percent for condos.

Nationwide, total housing inventory increased 3.8% from the previous month, for a 3-month’s supply at the current sales pace. The shortage of homes for sale has kept prices high for remaining buyers, with a national median sales price of $396,100 as of last measure, a 3.1% decline from the same time last year and the largest annual decrease since December 2011, according to NAR.

As demand continues to outpace supply, properties are selling quickly, with the majority of homes listed for sale on the market for less than a month.

All data comes from the Coastal Carolinas Association of REALTORS® Multiple Listing Service. Provided by South Carolina REALTORS®.

Mike Childs
Broker / Owner
Myrtle Beach Homes and Lifestyles
Childs Real Estate LLC
843-602-7644
mike@childsrealestate.com