The Myrtle Beach-area real estate market remains steady, but buyers and sellers are navigating a much more selective environment than in recent years. I’m not seeing signs of a market collapse. However, with affordability still a challenge and the possibility of higher interest rates ahead, we could see some additional softening, particularly for homes and condos that are overpriced or need work.

The Big Picture

July activity across the Coastal Carolinas market was mixed:

  • Single-family pending sales increased 2.1% from last July, with 1,063 homes going under contract.
  • Condo pending sales rose 0.9%, with 457 accepted contracts.
  • Single-family closings declined 11.2% year over year to 954, although year-to-date closings remain slightly ahead of last year.
  • Condo closings were a bright spot, increasing 17.3% in July and 8.1% year-to-date.

What does this tell me? Buyers are still active, and properties are still selling—but buyers are taking their time, comparing more options, and being much more careful about their decisions.

The market is functioning. It is simply no longer a “list it, and it will sell” environment.

Prices and Affordability

Pricing continues to show a noticeable difference between single-family homes and condos:

  • The July median single-family sales price held steady at $375,000, while the year-to-date median is down 1.4% to $360,000.
  • The average single-family sale price increased 9.0% in July to $482,711, partly reflecting more higher-priced transactions.
  • The July median condo price declined 3.3% year over year to $231,000. Year to date, the condo median is down 3.1% to $232,000.
  • Sellers received an average of 97.3% of list price for single-family homes and 95.9% for condos.

My takeaway is that prices are not collapsing—they are becoming more realistic.

Buyers are paying close attention to quality, location, condition, and overall value. They are much less willing to overpay for a property, especially when monthly mortgage payments remain a challenge for many households.

Inventory and Timing

Inventory remains significant, particularly in the condo market:

  • There were 3,922 single-family homes for sale at the end of July, down 2.9% from a year ago, representing a 4.2-month supply.
  • Condo inventory increased 2.6% to 3,295 properties, representing a 7.6-month supply.
  • Single-family homes averaged 117 days on market, while condos averaged 132 days before accepting an offer.

A 4.2-month supply of single-family homes is relatively balanced, while 7.6 months of condo inventory gives buyers considerably more choices and negotiating power.

That doesn’t mean every seller needs to lower their price. It does mean that pricing, presentation, timing, and strategy matter more than ever.

What This Means for Sellers

If you are considering selling within the next year, I believe there is a strong argument for being proactive rather than waiting for the market to change.

  • The market is still producing sales, and well-positioned homes continue to attract serious buyers.
  • If interest rates rise, affordability could become even more challenging and buyer demand could soften.
  • Additional inventory could create more competition for your property later.
  • Proper pricing from the beginning, strong presentation, and an effective marketing strategy are critical. The first few weeks on the market matter.

Waiting may work out—but it also comes with risk.

If selling is part of your near-term plans, I would rather help you position your property to compete from a position of strength today than simply hope market conditions improve later.

What This Means for Buyers

There is also real opportunity for buyers who are prepared and patient.

  • You have more choices than buyers had a few years ago, especially in the condo market.
  • Sellers may be more open to negotiations, repairs, closing-cost assistance, and other favorable terms when a property has been on the market for a while.
  • The right home can still be an excellent opportunity when it fits your lifestyle, budget, and long-term goals.
  • If interest rates rise, your buying power could decline, so understanding your financing options now is important.

The smartest buyers aren’t necessarily trying to “time the bottom.” They are looking for the right property at terms they can comfortably afford—and then allowing time and ownership to work in their favor.

My Local Perspective

I’ve spent my career helping buyers and sellers navigate the Myrtle Beach and Coastal Carolina real estate market with clear advice, proven marketing, and a focus on protecting my clients’ goals.

Whether you’re thinking about making a move now or simply planning for the future, I’m here to provide a straightforward local perspective and a personalized strategy.

If you’d like a personalized value estimate for your home, a neighborhood-specific market report, or help creating a smart buying or selling plan, email me or give me a call. I’d be happy to help you make sense of the market and determine your next best move.