Inventory on the Rise in Myrtle Beach SC

The real estate market in Myrtle beach and the surround areas is on the move. Sales are happening yet they are not happening at the same pace as the last few years.

 

  • Single Family Home Listings: 2750
  • Total Closed Sales: 10,186
  • List To Sell Price Ratio: 98.4%
  • Number of Showings to A Sale: 3.7

 

  • Condo Listings: 2750 2018
  • Total Closed Sales: 5599
  • List To Sell Price Ratio: 97.4
  • Number of Showings to A Sale: 6

There are a few things that are impacting our real estate market right now. I think we all know that the interest rates remain high and with price appreciation, some buyers just cannot afford the payments. That decreases the demand and contributes to rising inventory.

The rental market is softer this year and less summer bookings are worrying condo owners. Many are deciding to list them for sale so they do not have to deal with negative income this calendar year. That also causes inventory to rise.

Insurance costs are out of control and it doesn’t look like there is any near-term relief. We just suggest you get new quotes and see if you can beat your current premiums costs. Let us know if we can point you in the right direction.

Please watch the video…Myrtle Beach Inventory On The Rise.

For those that are continuing to experience high insurance premiums and want to get quotes in hopes of driving your insurance costs down, you can check out Integrated Insurance Solutions. This is our partner office and who I get my insurance through. They recently saved me a good bit on my insurance renewal: Competitive Insurance Quotes.

I hope you find this information helpful….