Myrtle Beach Market Statistics

While our active Hurricane Season hasn't slowed buyer interest, it has delayed many closings as evident in September's market report. At CRG we have already seen a rebound for a strong October, however the pattern is typical of Q3 year over year. Many of our relocation buyers had to reschedule travel plans so we will see a shift in some sales moving into next year. We predict Q1 of 2019 to be comparable with the previous year. Inventory remains lower than previous years and sales prices continue to tick upward making Q4 an excellent time to prepare your home for sale in 2019. 


On the national scene, higher interest rates and increased building material costs have pressured housing affordability to a 10-year low, according to the National Association of Home Builders. This mixed with salary stagnation (the median household income has risen only 2.6% in the last 12 months) and a generational trend toward delaying home purchases has already created affordability concerns in some markets. This trend will likely be delayed in affecting the Grand Strand area as we remain a top area for relocation.
09-2018 Market Statistics

Check out our month-to-month review below or contact our team today for more Info on Buying or Selling in today's market.

The month-to-month glance below is updated after the close of each month to allow time for all transactions to be reported. We suggest using this as well as our Annual Report in conjunction with our complimentary market analysis to determine if the time is right for you to buy or sell your Myrtle Beach area property. Contact our client manager If you are interested in more details on how to list your property and/or to find your next dream home!


 

2018 Monthly Market Reports 

The CRG Companies monthly real estate market statistics are based on data from the Coastal Carolina Association of Realtors and encompass Myrtle Beach and the surrounding areas that comprise the South Carolina coastal region of Horry & Georgetown counties, known as the Grand Strand. This snapshot of the local real estate market is your guide to making an informed decision when looking to buy or sell property in the Myrtle Beach market.

 August 2018 myrtle beach monthly statistics

Check out our month-to-month review below or contact our team today for more Info on Buying or Selling in today's market.

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2017 Monthly Market Reports 

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November 2016 vs. November 2017
Homes Sold: 1,130 (All Properties)

➢ Single Family Homes Sold: 621

➢ Lots Sold: 105


➢ Condos & Townhomes Sold: 404

Average Sale Price: $177,998 (All Properties)

➢ Single Family Homes: $249,558


➢ Lots: $129,958


➢ Condos & Townhomes: $154,479

Average Days on the Market: 184 (All Properties)

➢ Single Family Homes: 134
➢ Lots: 294
➢ Condos & Townhomes: 124

*November 2017 statistics are inclusive of all properties as of 12/15/17

October 2016 vs. October 2017
Homes Sold: 1,131 (All Properties)

➢ Single Family Homes Sold: 596

➢ Lots Sold: 99


➢ Condos & Townhomes Sold: 436

Average Sale Price: $188,754 (All Properties)

➢ Single Family Homes: $252,477


➢ Lots: $156,187


➢ Condos & Townhomes: $157,600

Average Days on the Market: 191 (All Properties)

➢ Single Family Homes: 133
➢ Lots: 309
➢ Condos & Townhomes: 131

*October 2017 statistics are inclusive of all properties as of 11/18/17.

September 2016 vs. September 2017
Homes Sold: 1,393 (All Properties)

➢ Single Family Homes Sold: 793 – 14.1% Increase

➢ Lots Sold: 142 – 5.3% Increase


➢ Condos & Townhomes Sold: 458 - 1.1% Decrease

Average Sale Price: $174,103 (All Properties)

➢ Single Family Homes: $251,998– 0.2% Increase


➢ Lots: $109,304 – 8.1% Increase


➢ Condos & Townhomes: $161,007– 12.5% Increase

Average Days on the Market: 184 (All Properties)

➢ Single Family Homes: 142
➢ Lots: 299
➢ Condos & Townhomes: 146

*September 2017 statistics are inclusive of all properties as of 10/18/17.

August 2016 vs. August 2017
Homes Sold: 927 (All Properties)

➢ Single Family Homes Sold: 793 – 14.1% Increase

➢ Lots Sold: 149 – 13.7% Decrease


➢ Condos & Townhomes Sold: 538 - 14.0% Increase

Average Sale Price: $185,453 (All Properties)

➢ Single Family Homes: $269,669– 5.6% Decrease


➢ Lots: $83,891 – 31.7% Decrease


➢ Condos & Townhomes: $136,088– 6.28% Decrease

Average Days on the Market: 184 (All Properties)

➢ Single Family Homes: 167
➢ Lots: 402
➢ Condos & Townhomes: 161

*August 2017 statistics are inclusive of all properties as of 9/18/17.

July 2016 vs July 2017
Current Market Inventory: 7,090 (All Properties)

➢ Single Family Homes For Sale: 3,852 – 7.8% Decrease

➢ Lots For Sale: 268 – 6.9% Decrease


➢ Condos & Townhomes For Sale: 2,970 - 25.6% Decrease 

Homes Sold: 1,372 (All Properties) 

➢ Single Family Homes Sold: 642 – 2.4% Increase

➢ Lots Sold: 99 – 9.2% Decrease


➢ Condos & Townhomes Sold: 497 - 13.5% Increase

Average Sale Price: $163,672 (All Properties)

➢ Single Family Homes: $241,015 – 9.7% Increase


➢ Lots: $134,807 –  68.1% Increase


➢ Condos & Townhomes: $146,439 – 4.0% Increase 

Average Days on the Market: 193 (All Properties)

➢ Single Family Homes: 140 - 3.4% Decrease
➢ Lots: 283  – 0.7% Decrease
➢ Condos & Townhomes: 137 - 11.0% Decrease
*April 2017 statistics are inclusive of all properties as of 8/15/17.

June 2016 vs June 2017
Current Market Inventory: 6,959 (All Properties)

➢ Single Family Homes For Sale: 3,884 – 7.8% Decrease

➢ Lots For Sale: 261 – 7.4% Increase


➢ Condos & Townhomes For Sale: 2,760 - 19.6% Decrease

Homes Sold: 1,372 (All Properties)

➢ Single Family Homes Sold: 765 – 5.9% Decrease

➢ Lots Sold: 116 – 25.2% Decrease


➢ Condos & Townhomes Sold: 564 - 5.6% Increase

Average Sale Price: $163,672 (All Properties)

➢ Single Family Homes: $270,419 – 12.9% Increase


➢ Lots: $76,160 –  20.8% Decrease


➢ Condos & Townhomes: $154,436 – 8.8% Increase 

Average Days on the Market: 193 (All Properties)

➢ Single Family Homes: 140 - 4.1% Decrease
➢ Lots: 261  – 4.7% Decrease
➢ Condos & Townhomes: 143 - 4.0% Decrease
*June 2017 statistics are inclusive of all properties as of 7/16/17.

August 2016 vs August 2017
Current Market Inventory: 6,959 (All Properties)

➢ Single Family Homes For Sale: 3,849 – 10.6% Decrease

➢ Lots For Sale: 266 – 8.1% Increase


➢ Condos & Townhomes For Sale: 2,844 - 17.3% Decrease

Homes Sold: 1,372 (All Properties)

➢ Single Family Homes Sold: 770 – 4.6% Increase

➢ Lots Sold: 266 – 8.1% Increase


➢ Condos & Townhomes Sold: 547 - 5.8% Increase

Average Sale Price: $163,672 (All Properties)

➢ Single Family Homes: $257,146 – 8.2% Increase


➢ Lots: $79,315 –  4.5% Decrease


➢ Condos & Townhomes: $147,544 – 4.1% Increase 

Average Days on the Market: 193 (All Properties)

➢ Single Family Homes: 132 - 9.6% Decrease
➢ Lots: 237  – 25.2% Decrease
➢ Condos & Townhomes: 141 - 18.0% Decrease
*May 2017 statistics are inclusive of all properties as of 6/18/17.

April 2016 vs April 2017
Current Market Inventory: 7,090 (All Properties)

➢ Single Family Homes For Sale: 3,852 – 7.8% Decrease

➢ Lots For Sale: 268 – 6.9% Decrease


➢ Condos & Townhomes For Sale: 2,970 - 25.6% Decrease 

Homes Sold: 1,372 (All Properties) 

➢ Single Family Homes Sold: 642 – 2.4% Increase

➢ Lots Sold: 99 – 9.2% Decrease


➢ Condos & Townhomes Sold: 497 - 13.5% Increase

Average Sale Price: $163,672 (All Properties)

➢ Single Family Homes: $241,015 – 9.7% Increase


➢ Lots: $134,807 –  68.1% Increase


➢ Condos & Townhomes: $146,439 – 4.0% Increase 

Average Days on the Market: 193 (All Properties)

➢ Single Family Homes: 140 - 3.4% Decrease
➢ Lots: 283  – 0.7% Decrease
➢ Condos & Townhomes: 137 - 11.0% Decrease
*April 2017 statistics are inclusive of all properties as of 5/18/17.

March 2016 vs March 2017
Current Market Inventory: 7,159 (All Properties)

➢ Single Family Homes For Sale: 3,822 – 8.9% Decrease

➢ Lots For Sale: 348 – 4.1% Decrease


➢ Condos & Townhomes For Sale: 2,989 - 14.4% Decrease

Homes Sold: 1,372 (All Properties)

➢ Single Family Homes Sold: 695 – 7.6% Increase

➢ Lots Sold: 119 – 6.3% Increase


➢ Condos & Townhomes Sold: 558 - 35.4% Increase

Average Sale Price: $163,672 (All Properties)

➢ Single Family Homes: $248,520 – 6.4% Increase


➢ Lots: $87,242 –  36.0% Decrease


➢ Condos & Townhomes: $155,283 – 15.9% Increase 

Average Days on the Market: 193 (All Properties)

➢ Single Family Homes: 148 - 3.9% Decrease
➢ Lots: 282  – 19.6% Decrease
➢ Condos & Townhomes: 149 - 2.1% Increase
*March 2017 statistics are inclusive of all properties as of 4/18/17.

February 2016 vs February 2017
Current Market Inventory: 7,177 (All Properties)

➢ Single Family Homes For Sale: 3,828 – 6.1% Decrease

➢ Lots For Sale: 290 – 18.8% Increase


➢ Condos & Townhomes For Sale: 3,059 - 10.2% Decrease

Homes Sold: 919 (All Properties)

➢ Single Family Homes Sold: 465 – 7.4% Decrease

➢ Lots Sold: 102 – 22.9% Increase


➢ Condos & Townhomes Sold: 352 - 2.6% Increase

Average Sale Price: $170,566 (All Properties)

➢ Single Family Homes: $245,801 – 7.3% Increase


➢ Lots: $126,608 –  11.4% Decrease


➢ Condos & Townhomes: $136,289 – 0.4% Decrease 

Average Days on the Market: 206 (All Properties)

➢ Single Family Homes: 152 – 4.4% Decrease
➢ Lots: 228  – 43.8% Decrease
➢ Condos & Townhomes: 151 – 3.2% Decrease
*February 2017 statistics are inclusive of all properties as of 3/16/17.

January 2016 vs January 2017
Current Market Inventory: 7,100 (All Properties)

➢ Single Family Homes For Sale: 3,754 – 4.8% Decrease

➢ Lots For Sale: 357 – 3.5% Increase


➢ Condos & Townhomes For Sale: 2,989 - 10.0% Decrease

Homes Sold: 866 (All Properties)

➢ Single Family Homes Sold: 464 – 2.2% Increase

➢ Lots Sold: 103 – 0.9% Decrease


➢ Condos & Townhomes Sold: 299 - 15.4% Increase

Average Sale Price: $163,299 (All Properties)

➢ Single Family Homes: $255,924 – 10.7% Increase


➢ Lots:  $73,417 –  6.7% Increase


➢ Condos & Townhomes: $160,556 – 11.4% Increase

Average Days on the Market: 193 (All Properties)

➢ Single Family Homes: 164 – 4.3% Decrease
➢ Lots: 228  – 43.8% Decrease
➢ Condos & Townhomes: 187 – 8.1% Increase
*January 2017 statistics are inclusive of all properties as of 2/16/17.


 

If you are interested in determining the value of your home or investment property, check out our complimentary market analysis!

Looking for something in a specific community or neighborhood? Contact a CRG Companies Realtor for a detailed report on the areas that interest you.

 

 

 

 

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© Copyright 2018 of the Coastal Carolinas Association of REALTORS® MLS.

CCAR Logo IDX information is provided by the Coastal Carolinas Association of REALTORS® for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, data is deemed reliable but is not guaranteed accurate by the MLS.