Looking for a Myrtle Beach home? Click here for a Full Home search
Selling Your Myrtle Beach home? Get a free Home Price Evaluation
Now that the spring market is heating up, it’s time to look at the latest year-over-year numbers from last April.
For single-family resale homes, sales rose 2.4%, the median sale price increased 9.3% to $234,900, and inventory rose 1.9% to 5.4 months’ worth of homes. Pending sales, meanwhile, rose 11.7%. In other words, inventory is down and sales are up, and that’s driving up prices.
For new construction homes, sales declined 21.2%, the median sale prices rose 10.7% to $270,625, and inventory rose 7.5% to 5.7 months’ worth of homes. The drop in sales for these types of homes can partially be explained by the longer sales cycle they undergo.
“
”
If you’re a seller, you need to position yourself now to be ready for the buyers coming into town.
”
For condos, sales dropped 4.1% and the median sale price increased 2.2% to $130,500. The number of pending sales rose 2.8%
As is evident from the rising number of pending sales for single-family resale homes and condos, we’re coming into the hottest time of the year from a sales standpoint. If you’re a seller, you need to position yourself now to be ready for the buyers coming into town. You might have more equity than you think, and you can probably sell for more than you think if you market your home right and sell at the right time.
If you’re interested in getting the home selling process started or you’d like to know what your home is worth, don’t hesitate to reach out to me. I’d love to help you.
