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Myrtle Beach Area YTD Real Estate Market Stats

Buying Real Estate

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.

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