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Today, we're here with a Myrtle Beach real estate market update. All three areas - single-family homes, condos, and lots - are up in price. That is great news for sellers!
Single-family home sales went up 11% year over year. Median sales prices also went up 5.4%. That means you can sell your home for more than you paid for it.
On the other hand, condo sales are down 3%. Inventory was low, and so sales decreased, but the median sales price still rose 3.6%.
Lot sales are up over 21%. For a long time, the new construction industry was struggling with inventory. When the inventory opened up, the lots sold very quickly.
Interest rates are still low, so it's a great time to buy or sell. If you have any questions, give me a call or send me an email. I look forward to hearing from you!
