Grand Strand Market 2018

The Myrtle Beach area real estate market is on FIRE! While inventory is low, we’ve got buyers flocking to this area from the northeast and across the country! Due to the shortage of inventory, multiple offer situations are becoming a common experience to the delight of home sellers. Here is a glimpse of the Coastal Carolina market:

Horry County

The median sales price for real estate in Horry County is up 4% since this time last year at $175,485 while the average sales price is up 2.6% at $202,524. Average sales price of single family homes are up 2.5% at $249,503 while townhouses and condos are up 3.7% at $149,669.  New listings are up 3.2% but inventory is down 9.9% compared to May 2017 with houses being down 2.4% and townhouses and condos down a whopping 18.6%. Average days on market are down 8.8% with the current average being 134. Currently in Horry County, there are 4,934 single family homes listed and 2,961 condos, including 5 foreclosures.

Georgetown County

The median sales price for real estate in Georgetown County is up 10.4% since this time last year at $259,500 while the average sales price is up 4.5% at $318,252. Average sales price of single family homes are up 4% at $310,000 while townhouses and condos are up 9.2% at $171,500.  New listings are down 12% but inventory is down 20.2% compared to May 2017 with houses being down 5.1% and townhouses and condos down a whopping 20.2%. Average days on market are down 6.5% with the current average being 158. Currently in Georgetown County, there are 805 single family homes listed and 315 condos, including 4 foreclosures.

Brunswick County

The median sales price for real estate in Brunswick County is up 22.9% since this time last year at $214,140 while the average sales price is up 9.9% at $220,729. Average sales price of single family homes are up 7.7% at $245,695 while townhouses and condos are up 4% at $159,453.  New listings are down 7% but inventory is down 14.9% compared to May 2017 with houses being down 7.9% and townhouses and condos down a whopping 33.3%. Average days on market are down 2.5% with the current average being 157. Currently in Brunswick County, there are 176 single family homes listed and 19 condos, including 0 foreclosures.

When you’re ready to buy Coastal Carolina real estate, turn to the experts you can trust. A national brand with local heritage, that’s us. Please call your local real estate agents at Better Homes and Gardens Real Estate Elliott Coastal Living today: (888) 280-5704.