Myrtle Beach Real Estate August 2023

Well, summer is coming to an end and the fall is fast approaching. The real estate market has changed and I discuss this in more detail in the video I included in this email.

In brief, I see the market is still very active. Of course, there are significantly fewer sales in the market though prices have stayed somewhat stable in most property types.

Myrtle Beach Real Estate Market Update

Additional Market Stats:

- Condo inventory is at its highest level in 2.5 years

- Residential inventory is at its highest level in 1 year.

- Overall Pending contracts in the market have declined

- Average days that it takes for a listing to sell has increased

The above facts do not indicate that the market is crashing. The market is not crashing, yet there are many signs of the market being a bit softer than it has been in the last few years.

Market CHALLENGE: Insurance Rates Have Increased Sharply

I received a renewal quote on my home insurance and the premium increased more than twice over. I am sure a lot of you are experiencing the same thing with your insurance premiums.

If you want to get your insurance cost down, request a Free Quote below:

Free Insurance Quotes for Myrtle Beach Property Owners    

I hope you find this information helpful. If I can ever do anything to help you in any area of real estate, please reach out to me immediately. We are committed to being your real estate resource.

~Greg Harrelson
Century 21 The Harrelson Group
(843) 457-7816