Last month's numbers have just come in, so I wanted to share a brief market update for Myrtle Beach.
Looking for a Myrtle Beach home? Click here for a full home search
Selling Your Myrtle Beach home? Get a free Home Price Evaluation
Last month's numbers are in, so I wanted to stop by with a quick market report.
We just had our fourth straight month of declining sales, with sales down 9% overall last month. The good news is, however, that sales are still up 3.6% year to date.
The dip in the last few months has to do with one thing, and that's inventory. The other part of the equation is that prices are still going up. Because there is less inventory, buyers have driven up prices by 4% last month. The median price for Myrtle Beach homes is $215,000.
With inventory low, if you're contemplating selling, you definitely want to get in the market now before we see a potential dip in the future. Remember, we're already starting to see prices decline slightly, but we should see them hold on over the next few months.
Looking at condos, we see that sales were pretty flat last month, up just 0.9%, but they are up 8.2% year to date. Prices are up, too, with a 3.3% monthly increase and a 3.5% increase year to date. The median sales price was $124,000.
You want to get into the market now before we see a dip.
Overall, the market is still pretty strong. We're starting to see a little decrease with the main factor being inventory, and of course, we recently had the hurricane come through. If you've been thinking about getting into the market, you want to act now before we see any sort of dip.
If you have any questions about selling your home or you have any topics you're interested in learning more about, send me an email or give me a call. I'd be happy to speak with you.
Check out the full report here.
Check out the full report here.
