Myrtle Beach Area YTD Real Estate Market Stats

The Myrtle Beach area real estate market is continuing to see an increase in sales in both single-family homes and condos.  Year-to-date (YTD), closed sales have increased 8.6 percent, 9 percent for single-family homes with an increase of 7.1 percent for condos. Pending sales are up 6.4 percent, 4.9 percent for single-family homes, 7.8 percent for condos.

The median sales price, YTD 2018, is up 4.9 percent for single-family homes at $225,000 and condos up 4.0 percent to $130,000 for condos. The overall median sales price was up 4.0 percent to $180,000.

Compared to YTD 2017, there is an increase of 2.5 percent in the average sales price, up 1.6 percent for single-family homes at an average of $ 261,795 YTD 2018. For condos, there was also an increase, up 4.4 percent at an average of $155,544. Homes with three bedrooms or more have the strongest sales while single-family homes have the strongest sales above other property types. Real estate priced between $169,000 and $263,999 had the strongest sales YTD.

New listings YTD 2018 are up 1.0 percent, up 2.3 percent for single-family homes with new listings as compared to this time last year.  Average days on market YTD was down to 133 days, a decrease of 7.9 percent overall; down 3.4 percent for single-family homes averaging 141 days on market and 12.8 percent for condos averaging 130 days on market. Inventory also decreased YTD 17.2 percent, down 11.5 percent for single-family homes and 26.1 percent for condos.

The price range that tended to sell the quickest was the $112,999 or less at 76 days on the market and the price range that tended to sell the slowest was $264,000 and above range at 133 days on the market.

While there is a decline in inventory when it comes to new construction, resales are only down 1.6 percent. Year-to-date sales continue to grow with great strength.