Showing posts with label Market Update. Show all posts
Showing posts with label Market Update. Show all posts

The State of our Market: November 2021

Here are the latest numbers for our local real estate market.


Today I have the brand-new market numbers for you. They are very interesting,

to say the least. We had our first double-digit decline, which is not the news I like

to give, but I want to keep you updated on the market. That being said, let’s take

a look at all of the data. 


Feel free to watch the full message above, or skip to topics that interest you

using the timestamps provided below for your convenience:


0:28 — Single-family homes last month


1:48 — Supply is protecting price right now


2:17 — Condos are doing well


3:08 — Supply is at an all-time low for condos


3:55 — Call us if you’re thinking about selling


4:32 — We have tons of buyers on our website


5:17 — John and Patricia’s success story 


5:57 — Jack and Patricia’s success story


7:02 — Wrapping up


Remember, the agent you choose matters. If you are looking to sell or know someone who is, give us a call. We will get your home sold and maximize your equity.

June Myrtle Beach Market Update



Here are all the latest numbers from our May real estate market. 


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I have a brand-new market update for you, and the numbers are crazy. We’ve experienced a large rebound since the pandemic lockdowns. Of course, we expected the decline in sales because in March and April people couldn’t come into town to buy, so not as many homes closed in May. However, things are bouncing back. Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message, or use these timestamps to browse specific topics at your leisure: 0:05: Introduction to today’s topic 0:20: Sales declines 0:55: Inventory numbers 2:00: Price increases 3:50: Condo sales numbers 4:25: Condo price declines 5:40: Wrapping up today’s topic Things are exciting right now; people are buying homes within hours of them being listed. If you want to know more about how our system can sell your house quickly, reach out to us via phone or email. We’ll provide you with the most up-to-date information about Myrtle Beach and the Grand Strand. We look forward to speaking with you.

An Update on Our Pandemic-Affected Market



March 2020 represents the first month where our market was affected by the pandemic now gripping the world, but even so, the numbers don’t look horrible. 


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In trying times, we have to take the good with the bad, and our Myrtle Beach market is filled with both right now.
  • Resale home sales from last month are down only 2.8% over last year (we honestly expected this to be a lot worse); 484 homes sold this March versus 498 in March 2019
  • Prices are up 4.3% over last year
  • Median sale price right now: $240,000
  • Average sale price: $302,000 (up 8.2%)
  • Inventory is down 18.5% from last March, with 4.4 months’ supply
  • Showings are down 19.6% from last March
  • Condos took a hit, decreasing 12.5% from 518 last year to 253 this year
  • Median sale price for condos is up 7% at $138,500
  • Average condo sale price is up 5.3%
There are two factors that I believe will help keep our Myrtle Beach market insulated. First, the continued low inventory will protect homeowners by holding up prices—at least for the near future (there may be a leveling off of price growth and even a slight dip in prices eventually, but it all depends on the persistence of this pandemic). Secondly, it’s a known fact that second home marketplaces feel the effects of a slowdown first. Luckily, single-family ownership has been the engine of our market for the last several years, so this will act as another barrier against the economic reverberations of COVID-19. Overall, things look very different from the crisis of 2008. Right now, there are still deals going under contract. The week of this recording, one agent on our team, Scott Howard, put four homes under contract by himself, bringing our weekly team total to 11.
Of our 11 closings this past week, three were completely virtual.
In the past seven days, 280 properties have gone under contract for $64,913,608, so yes, there are plenty of people making moves right now. Of course, only the most serious buyers are active in this pandemic-affected market; for all you serious sellers out there, know that these buyers still need inventory! We’re continuing to serve the needs of our clients in ways that ensure the highest level of safety for everyone involved. We’re conducting video conference consultations, virtual reality walk-throughs, and exterior and interior video tours via drone. Of our 11 closings this past week, three were completely virtual, meaning that none of the parties involved met in-person or physically toured the property. If you or someone you know needs to get something sold, make sure you reach out to us. We’ll develop a custom strategy and launch our global marketing blitz complete with professional photos. Even amid this chaos, our team is still pushing hard and doing what we can to get your home sold quickly and for top dollar. With questions or concerns, give us a call or shoot us an email. We’d be happy to hear about your unique situation and help you achieve your goals.

Real Estate Market Update for March 2020



Where is the Myrtle Beach real estate market? Here are the latest numbers. 


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It’s time for a brand-new market update this spring. February’s numbers are in, so we’re going to compare them to what we saw in 2019.


In January, you’ll remember that we had a 20% increase in the average sale price to go along with a 10% increase in sales. Things aren’t quite that crazy in February, but we still saw some very encouraging numbers. Although sales were up just 2.5% from February 2019, the median price was up 11% to $249,007. I believe one thing driving that average sale price up is the lack of inventory.


Inventory is down 21.2% from where it was last year and we have a record-low 4.2 months of inventory. There are 53,000 active buyers on our website, and there simply aren’t enough homes for them. If you’re thinking about selling, this could be a huge opportunity for you.

Condo sales are pretty much flat from last year. They were down 0.9 % from 423 to 419. Prices in this market are still up 9%, though. The median price is right at $135,000. Inventory is down 11.3% for condos, with supply hovering around four months' worth.
In just the past week, we’ve seen interest rates for 30-year mortgage rates hit 50-year lows as a response to the coronavirus. If you're thinking about making a move in 2020, it could be a great time. If you just want to refinance, you could lock a rate in the 2% range. 

There might be some consumer confidence issues in the future, but the window is open right now for home sellers and homebuyers to take advantage of the current demand. Right now, you have a lot of buying power with these low rates.

If you have any questions for me about the real estate market or your personal situation, don’t hesitate to reach out via phone or email today. We look forward to hearing from you.


Are Sellers Primed for a Great Fall Season in Myrtle Beach?



According to the latest numbers, demand is up and supply is down, which is great news for sellers. 
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For your October market update, we’re doing things a little differently. Last month’s year-over-year numbers are very interesting, but they’re ultimately skewed by Hurricane Dorian. There was a 26% decrease in home sales, but that’s a result of all the homes that were supposed to close in September 2018 being pushed to October 2018.

For this reason, we’ll use our three-month rolling average to compare the year-over-year numbers for single-family homes and condos and determine what they mean.

The great news is that single-family home sales rose 3.5%, and the median sales price rose 6.4% to $236,125. The most intriguing—and shocking—number was the 4.8 months’ worth of inventory we saw last month, which is the lowest level we’ve seen since January 2016.

This is good for sellers because it means demand is up and supply is down, and prices should increase all the way through the holiday season. So if you’re thinking of selling, do it now. Don’t wait until the start of next year when everybody else puts their home on the market. January and February are also the slowest months of the year in terms of closings.



If you’re thinking of selling, do it now.

Furthermore, there were only 4.6 showings per listing for single-family homes over the entire MLS. The problem is, the median showings-to-pending during that same time was 14, while the average showings-to-pending was 21. That’s a significant gap, and it means most sellers aren’t getting enough traffic to their home. If you’ve been in this situation, it’s obviously frustrating, and it’s usually caused by a pricing or marketing issue. In general, your agent isn’t getting your home the exposure it needs.

As far as condos go, the number of sales rose 7%, and the median sales price rose 4.9% to $140,000. As with single-family homes, inventory for condos was down as well, and currently stands at 4.9 months—a 5.8% decrease. The average showings per listing was 4.1, while the median showings-to-pending was 10, and the average showings-to-penging was 16.4. As with single-family homes, there’s a massive gap here, and it’s usually caused by the exact same reasons mentioned above.

If you’re a seller, you have to make sure you’re selling buyers on the best parts of your home from a marketing perspective. Your overall goal should be to book a showing. We specialize in this type of marketing, so if you’d like to know more about how my team operates or you’re looking for someone to help sell your home, don’t hesitate to give me a call.

As always, if you have any more questions about our Myrtle Beach market, feel free to reach out to me as well. I’d love to help you.

August Myrtle Beach Market Update



Prices are up and interest rates are down, which makes now a great time to buy or sell in Myrtle Beach. 

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I have great news for home sellers as we near the end of summer in our Myrtle Beach market. Let’s go over the latest year-over-year statistics from this past July to see what I mean. 

The number of single-family resale home sales rose 1.3% from 538 to 545. The key piece of information regarding these homes, though, is the median price, which rose 7.3% to $227,000. A lot of areas around the country are seeing a decline in sales and prices, but we’re bucking this trend. 

Inventory for resale homes, meanwhile, dropped 1.9% to 5.2 months, which means it would take exactly that long for all available homes to be sold if no more came on the market. As we know, anything below six months is considered a seller’s market.

As you know, new construction homes have taken a huge hit over the past few months, but sales for these homes increased 1.1% compared to this time last year, and the median price rose 7.4% to $272,655. Unlike resale homes, inventory for new construction homes rose 9.8% to 5.6 months. 



The key factor driving these price increases is interest rates—this past week, they hit a three-year low and dipped into the 3% range

Condo sales dropped by 0.4%, but again, the key number here is the median price, which rose 7% to $138,750. Inventory for condos was measured at five months, which is relatively unchanged compared to last year  

So let’s recap: Sales are up, prices are up, and inventory is down for resale homes. As you can see, prices also rose for new construction homes and condos. Since our market is always driven by supply and demand, prices will probably rise even further as we head into the fall market. We usually see a different buyer demographic enter the market after the summer season, so don’t wait until November or December to put your home on the market. Take advantage of conditions now. 

The key factor driving these price increases is interest rates—this past week, they hit a three-year low and dipped into the 3% range, which is convincing a lot of buyers to get off the fence. Not only does this make now a great time to buy, but it’s also a great time to refinance. 

Whether you’re looking to buy, sell, refinance, or you have any more questions about what’s happening in our Myrtle Beach market, give me a call or shoot me an email. I’d love to help you. 

How Our Market Has Changed Since Last June


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We’re back once more with another market update. As always, we’ll be going over numbers from the last month to get a better picture of what’s happening now in real estate and how these trends will impact your buying or selling goals. 

Looking at the numbers from June of 2019, it’s clear that our market has likely hit a peak and is beginning to balance out. 

In terms of single-family resale homes, which constitute the majority of our real estate market, the number of home sales has only increased by 0.2% last month, with 577 single-family homes having sold this June and 567 having sold during that same month last year. Price, meanwhile, dropped by 0.3% over that same period, going from a median of $232,750 last year to $232,000 this year. 

Given that approximately six months ago we were seeing appreciation rates in the double digits, this news may be disheartening to some. However, it’s important to realize that this is a normal development. Our market is simply leveling out, so we will continue to keep an eye on prices moving forward. 

Moving on, supply rose 1.9% year over year, leaving us with a current five-month supply of inventory. This means we’re still in a seller’s market, so anyone looking to list should definitely consider making a move. This is especially true given that supply is expected to continue to grow over time, meaning buyers will soon gain greater leverage. 

However, this doesn’t mean there aren’t fantastic opportunities for buyers right now. At just 3.88%, interest rates have remained very low. This translates into a high level of purchasing power for anyone ready to find their next home. 

With all of that said, let’s review some statistics related to new construction. In that section of the market, sales appear to be down by 21.5% from last year—though it’s difficult to say whether this figure is accurate given the fact that certain national homebuilders don’t necessarily report all sales. 



The market may be softening nationwide, but our Myrtle Beach market has remained well-insulated against any significantly detrimental impact.


The median price of new construction homes, on the other hand, has gone up—rising 6.7%, leaving us with a median price of $277,400. Supply went up as well, with a 3.7% increase since June of 2018. As a result of this increase, there is 5.6 months’ worth of available inventory in the new construction market. 


Finally, let’s take a look at the condo market. Condo sales dropped by 5.9%, but prices have risen 7.6%, and supply has gone up to 13%. 

The bottom line of all of these statistics is this: The market may be softening nationwide, but our Myrtle Beach market has remained well-insulated against any significantly detrimental impact. In short, while it’s always good to be aware of what’s going on in the market, it’s also good to understand that conditions balancing out is not inherently a bad thing. 

If you have any other questions, would like more information, or are interested in buying or selling your home, feel free to give me a call or send me an email. I look forward to hearing from you soon.

April Myrtle Beach Market Update


The latest numbers tell us we’re in a seller’s market, but both sellers and buyers can take advantage of current conditions.

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What’s the latest news from our Myrtle Beach market as we move through April? Here are the year-over-year numbers from March.
Single-family home sales dropped 3.8% from 497 to 478, which isn’t a huge difference, but if you consider the fact that there were only 355 single-family home sales in February, these numbers are great news. The median price for single-family homes jumped 7% to $230,000, while the level of inventory dropped 3.6% to 5.3 months. The average days on market dropped 9.9% to 118 days, which means homes are selling quicker.
New construction home sales also dropped 8% from 275 to 253, but as with single-family homes, this represented a significant jump compared to February’s 234 sales. The median price for new construction homes rose 7% to $261,000. Inventory also increased 1.9% to 5.5 months, but the average days on market dipped 1.5% to 195 days.
Condo sales, meanwhile, rose 2.9% from 478 to 489. As for single-family homes and new construction homes, this was an increase compared to February’s sales, of which there were 422 in this case.
These statistics indicate we’re in a seller’s market. Right now, everyone’s getting that spring itch. Homeowners from up north are itching to move down here, while local residents are itching to get outside and have some fun in the sun. Whether it’s resale homes, new construction homes, or condos, the most home sales consistently take place in our market from May to June. If you are planning on selling your home, you need to do it as soon as possible if you want to take advantage of these conditions.
Buyers also have a great opportunity in front of them, because last month was the best month for mortgage rates we’ve seen in the last decade. Rates were as low as 4.02%, so now that so many buyers who were on the fence about purchasing will be looking to buy now, our market is a perfect storm for sellers and buyers.

As always, if you want to know more about our Myrtle Beach market or you’re thinking of buying or selling a home, don’t hesitate to reach out to me. I’d love to help you.

Your March 2019 Real Estate Market Update


What’s the latest in our market? Let’s take a look.

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We have the latest numbers for our Myrtle Beach market, just in time for the spring selling season’s arrival. Here’s what they say. Single-family home sales declined by 1.1% with 351 sales; however, prices increased by 12.5% last month alone. The median price was $224,950. There was no year-to-year change in the supply of homes for sale, which is currently at 5.2 months of inventory. Anything below six months is a seller’s market and anything above is a buyer’s market, so this means now is the time for sellers to get their homes listed. Interest rates also hit a 12-month low and are currently at 4.4% for a 30-year fixed rate. This means buyers will be jumping off the fence and into the market, and you’ll want to take advantage of it. There were 215 new construction home sales last month, which is typical of the last few months. We are seeing, however, a bit of softening in the market. New construction prices are up 8.3% compared to last year, which is a smaller increase than what we’ve seen in the recent past. The median price is $255,500. New construction inventory is at 5.4 months, a 3.8% increase from last year. As we head into the spring market, we’re well insulated from the factors that are affecting other markets throughout the country. While a lot of places are experiencing a slowdown, we have a great seasonal market and are a beach destination. People will be selling their homes up north and moving here. There were 406 condo sales last month, a decrease of 1.2%. Their median price is $124,900, which is an increase of 6.8%. Condo inventory also increased to 5.3 months, an increase of 3.9%. We’re definitely going into a great season for buyers and sellers alike. If you have any questions or would like more information, feel free to reach out to me. I look forward to hearing from you soon.

What Is the Biggest Challenge in the Myrtle Beach Real Estate Market?



What’s happening in the Myrtle Beach real estate market? Home prices are up, but we are still dealing with the effects of low inventory on our market. 

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We just got the numbers in from last month, and I’d like to share a few interesting trends with you today. This is the first month that single-family resale home sales have gone down. They only dropped by 2%—but still, we haven’t seen a decrease in sales in a while. I mentioned that sales might decrease in the third or fourth quarter this year, and it looks like that prediction has come true. New construction home sales also dropped by 3.8% last month. The good news is that price is up 12.5% for resale homes, which is a huge jump. The median price has risen to $224,900. This is awesome news for our market. The sales price for new construction homes is up 2.4% at $245,000. Why are home prices up and home sales down? It all has to do with supply and demand. As you know, inventory has been down significantly month after month, which puts a strain on the number of home sales while also driving home prices up. Inventory for resale homes dropped 6.4%, which is where all the strain on home sales is coming from. This trend will probably continue in our market and other markets across the country that are also struggling with low inventory.

Home sales dropped for the first time in months, but prices are still on the rise. 
Right now, Myrtle Beach has six months of inventory, which is a healthy amount. However, there is a huge number of buyers out there who cannot find the right home. As a seller, you have a great opportunity to take advantage of that demand. Our market is seasonal and we are coming up on the hottest part of the year, so definitely reach out if you are considering selling your home. Condos are going through a similar challenge. Last month, the number of condo sales went up 9%, but inventory dropped 18.9%. We will probably see that low inventory affect the number of condo sales in the near future. After all, residential homes tend to lead the pack in terms of what’s happening in the market. Still, condo prices went up last month by 8.4% to $129,000—and that’s awesome. You can see the growth in our market but, again, the biggest challenge is low inventory. If you are selling your home, you are in a very fast-paced market right now. We just listed a house for sale and got five offers within 24 hours of putting the home on the market. So, if you are thinking of selling, now is definitely a good time to put your home on the market. One thing to watch as we head into the fourth quarter is how our spring market, which saw a 20% increase in sales, will affect those October and November sellers. A lot of people who planned on buying a home this year may have already purchased one last May, which may affect your chances of selling your home this fall. If you have any other questions about our market or would like to learn more details about your specific neighborhood, just give me a call or send me an email. I would be happy to help you!

A Recap of Our 2016 Market and a Look Toward 2017

For both condos and single-family homes in our market, sales and prices are up, but inventory is down. Here’s how you can take advantage of these conditions.

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Today I wanted to provide you with a market update by recapping some numbers from last December and 2016 as a whole.
Last month, there was a 2% increase in single-family home sales. Year-to-date, single-family home sales in 2016 were up 4.1% from the previous year. Home prices also increased 0.4% in December and 3.1% for the entire year. The median home price for 2016 ended at $210,937. The number of resale homes that sold in December rose 5.4% compared to December 2015.
The one challenge we’re seeing is that inventory is way down, which is putting a strain on the number of sales. The good news there, though, is that it’s also driving up prices. For example, in May of last year, there were almost 5,600 houses on the market. In December, there were only 4,681.  

Where is our market headed in 2017?
Condo sales rose 4.5% last month, and they rose 8.9% year-to-date for 2016. The median sales price for them also increased 10% last month, and 4.3% for the entire year in 2016. One the primary factors in causing that huge jump last month is the fact that inventory for condos is down 14.1%. As you see, just like with single-family homes, sales are up, prices are up, and inventory is down.
As for 2017, we’re currently seeing a lot of buyers jump into the marketplace as rates climb up. A lot of people who may have been waiting on the fence and biding their time are jumping off and jumping in. If you’re thinking about selling in the springtime, it might be a good idea to skip that and list your home now. Homes that are priced right and marketed correctly are moving very quickly. Not only that, but since inventory is so low, you’ll face less competition.
If you have any questions or are thinking about buying or selling a home, feel free to give us a call or shoot us an email so we can help. We look forward to talking with you!
Click below for the detailed report:

An Interesting Update on the Myrtle Beach Market



Last month's numbers have just come in, so I wanted to share a brief market update for Myrtle Beach.

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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.

Myrtle Beach Market Update


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I wanted to give an update on the Myrtle Beach real estate market because of some ups and downs we’re seeing.

Overall year-to-date sales and volume prices are up 7.7% and 3.2% respectively, and our condo sales remain strong with prices up 3% so far this year. When looking at single-family homes in May, sales went up 4.4% overall versus last year; single-family home sales year-to-date are up a whole 7.7%. That’s also on top of the same growth we had the same month last year overall as well.

Median sales price fell slightly to $198,975, which is down 5.2%, but that’s no big deal as it’s up 3.2% so far year-to-date. Why? We saw a mix of new construction and resale, so when you segment that out, we saw about 6% fewer new construction sales, mostly because there is less inventory out there. On the other side, we actually saw a slight increase in resale.




"We’re seeing a lot of movement in the luxury market."


We’re seeing that all over the board. We’re seeing a lot of movement in the luxury market; we recently put $580,000, $600,000, and $900,000 homes under contract, in addition to everything else we’re doing right now. There’s a lot of movement in the luxury market, but we’re coming to peak season in June, July, and August when everyone’s coming down. If you’re thinking about selling in this market, be sure to call us.

As of right now, we’re looking at an average resale ratio of 95%, which is very healthy. Condos remained virtually unchanged year over year; there was literally one fewer condo sale this month last year. The good thing is it’s up 2.2% year-to-date overall. Median sales price for condos is up 5.2% last month to $119,950, and up 3% overall this year.

We are seeing some struggle at this time, especially in the lower end of the market, so if you’re thinking about selling at any price, reach out to me today. We’re expecting a very strong market this summer.


Very Interesting Numbers Last Month... Where are we heading?



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We have some shocking numbers for you today! The market is all over the place, but thankfully, I have some numbers that bode well for the future of real estate in our area.

Single-family home sales are up 1.8% compared to this time last year. They’re also up 17.7% year to date. It’s actually a lot lower than where most people thought it would be.


Recently, the Sun News reported the TRID affected this course of events last month. This new regulation slowed down the mortgage process, so a lot of October’s closings got pushed into this month. The last two weeks have been incredibly busy as a result!

Residential sales above $300,000 increased by 24.8%. Residential sales between $200,00 and $300,000 increased by 23.8%. We’ve seen sales rise in both markets recently and we couldn’t be more thankful.

Condos increased by 8.3% and 10.4% year to date. Click here to view a full report.

An important thing to keep in mind from last mind was the overall median sales price. It increased by 10%! That’s the biggest jump we've seen since the housing recovery started. It hasn’t been in the double digits for long.

If you’re thinking about buying or selling a home, regardless of your price range, give us a call! We need inventory. We need buyers. We can give numbers and dig deeper into them with you in person if you're interest.

We look forward to hearing from you soon!

The Latest Numbers for the Myrtle Beach Real Estate Market



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Today, we're here with your Myrtle Beach real estate market update.


The market is going strong. Closed sales for single-family homes are up 16.8% from last year, and condo sales are up 9.8%. This is great news, but the biggest indicator for the future of the market is the number of pending sales. For single-family homes, pending sales are up 18.7%. Pending sales for condos are up 15.5%.


Based on this information, we predict prices will rise. Inventory has decreased 6.6% for single-family homes and 9.9% for condos. Demand is high and inventory is low. This helps to drive prices up. Even now, single-family homes saw an increase of 7.5% in median sales price. The median sales price is currently $202,000. Condos also saw an increase of 2.6%, making the median sales price $120,000.


While higher sales prices means good news for sellers, we need more inventory. If you've been thinking about selling your home, or if you have any questions about today's video, give us a call or send us an email. We would be happy to help you!

The Latest Numbers from the Myrtle Beach Real Estate Market



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Selling Your Myrtle Beach home? Get a free Home Price Evaluation


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.



If you're considering selling, be sure to check the trends in your local market. These numbers are for the market overall, and homes are appreciating more in some areas than others.


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!

What Does Low Inventory Mean for the Value of Your Myrtle Beach Home?

I just got some fantastic news regarding the Myrtle Beach real estate market!

Looking for a Myrtle Beach home? Click here for a full home search  
Selling Your Myrtle Beach home? Get a free Home Price Evaluation

I just got some fantastic news regarding the Myrtle Beach real estate market! Here are the latest numbers for Myrtle Beach:

  • Single-family home sales are up 11% over this month last year and prices have climbed a solid 3.2%.
  • Although condo sales are down 7.2%, prices have risen 12.3%.
  • Condo inventory is down.
  • SFR sales have increased 11.8%, compared to the same month in 2014, and are up 17.5% year to date compared to 2014.
  • Residential lot sales are up 2.3%, bringing overall sales up roughly 5.5% year to date compared to 2014.
  • Median sales price dipped slightly to $43,500 from $44,000 
  • Sold to list ratios were up 300 basis points for the month and flat year to date


We've seen month over month increases in sales for both condos and homes. Anyone out there thinking about selling would be wise to act soon; we have 15,000 buyers searching our site every single day looking for the perfect home.

Long story short: there are plenty of opportunities out there to get top dollar for your home!

To see the Grand Strand market report for July, click here!

If you would like a more detailed market analysis, or if you're interested in taking advantage of these great selling conditions, don't hesitate to reach out to me. I'm always here to help.