Myrtle Beach Midyear Market Update

There are many great Myrtle Beach area homes for sale. Click here to perform a full home search using the most advanced search tool on the web, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (843) 222-9265 for a FREE home buying or selling consultation to answer any of your real estate questions.

We have seen a lot of interesting market trends since this time last year. Here are the notable changes you should be aware of:

• Single-family homes are surging back. Sales are up 11.5% since last year.

• Distressed inventory is 23.8%, which is good for traditional sellers because it will increase your competitiveness in the market. It's also good for the recovery of our market because having fewer distressed sales will help stabilize the market.

• Median sale price of single-family homes is strong at $193,929, a 5.1% increase since last year.

• Condo sales, on the other hand, are still weak. Sales are down 2.4% since last year.

• But there is some good news for condo owners, as the median sale price is up 3.7%.

Quick tip: recently we've seen a surge in the sale of high-end/luxury homes. A lot of people who were on the sidelines before have entered the market, with sales up 23.7% over the last 12 months. This is one of the hottest parts of the market right now, so now may be the time to act.

If you have any further questions about market trends or need a hand with the buying or selling process, don't hesitate to give us a call or shoot us an email. We have the resources to make your real estate experience successful.