Myrtle Beach Real Estate January 2024

Hello,

I hope you had a wonderful start to your new year. I think the real estate market in the Myrtle Beach area is going to be strong throughout 2024.

I want to share some insightful updates about the Myrtle Beach real estate market.

Understanding these trends is crucial whether you are considering buying, selling, or simply staying informed.

Myrtle Beach Market Is Feeling Impact of Lower Rates

Total Closings: There has been a notable shift in the market, with total closings

down by 15.9% compared to last year. This change reflects a softer market yet

the past 3 weeks have picked up because of the lower interest rates.

Days on Market: Stability is key, and it's interesting to note that the average

days on market remains consistent with last year. I monitor this monthly to

determine if the market is getting stronger or weaker. In this case, the market

seems stable.

Listing Inventory: The inventory is up 13%. This is not of much concern

considering it is up from a historical low. We could use more inventory at this time

due to our buyer demand.

Pending Sales: On an optimistic note, pending sales are on the rise. So,

inventory is up but that is offset by recent pending sales. Nothing to worry about

here!

As always, I am here to be a real estate resource for you. Please let me know how I can best serve you.

Thank you for your continued trust in my updates.

Warm regards,

Greg Harrelson

Century 21 The Harrelson Group

(843) 457-7816