The Myrtle Beach real estate market remains very active. Though we hear many markets across the country experiencing a downturn, the Myrtle Beach market remains strong.
Of course, there are pockets of the market that show signs of softening which we need to pay attention to, yet we anticipate the next 3-4 months to be beneficial for those that are attempting to sell.
Residential Property Owners:
If you have a property between $150,000 a $250,000, you are seeing great times. For those selling, they would see a shorter sell time, a higher list to sales price ratio and a higher sales price than you may have expected.
We are seeing some softening in the higher end residential market.
Condo Property Owners:
Of course, this is the time of year where resort-condos see a lot of demand. In some buildings, there is only one unit available making this a favorable time to sell. We have recently listed condos where we had full price offers or negotiated sellers to near full price in a short period of time.
Even non-resort condos are selling these days for good prices. Over all, the market is strong. Interest rates are still incredibly low and property owners are yielding higher prices than last year.
Total Residential Sales: 4089 YTD Sold (-3.5%)
Properties For Sale: 4,008
Direction Of Prices: Average Price $267,214 (UP 6.8%)
Total Condo Sales: 2786 YTD Sold (+0.01%)
Properties For Sale: 2,440
Direction Of Prices: Average Price $159,428 (UP 2.8%)
Total Land Sales: 593 2786 YTD Sold (-6.4%)
Properties For Sale: 2,947
Direction Of Prices: Average Price $127,294 (UP 7.2%)
Total Multi Family Sales: 37 YTD Sold (+27%)
Properties For Sale: 67
Direction Of Prices: Average Price $352,824 (UP 3.3%)
To learn more about the market, click here: Myrtle Beach Real Estate Report
I hope you find this information helpful. We are committed to helping you understand the real estate market in your area. I believe informed consumers make better financial decisions.
If you are thinking of selling or purchasing something in our area, please give us a call.
If you are in need of a handyman, insurance quotes, mortgage referrals, refinance advice or anything else related to real estate, we can help.
Enjoy the rest of the summer!