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Myrtle Beach Real Estate Market update
The affordable cost of living in our notoriously attractive market for those relocating for business and retirement has kept our market moving amid recent surges in interest rates that have reduced buyer activity in many markets. While inventory continues to decrease along with the days on market for most properties, sales prices are continuing to rise which many analysts believe will help cool competition slightly. Meanwhile, well-priced listings continue to move quickly and multiple buyer situations are still occurring across all property types.
It’s still an excellent time to sell or buy and with the help of an experienced professional, there are ample opportunities to make sound real estate investments for all types of homebuyers.
Key Takeaways From The Recent Market Report:
- According to Freddie Mac, the average 30-year fixed-rate mortgage exceeded 5% in April, the highest since April of 2011
- Inventory remains low with only 1.2 months of supply for Single Family and .9 for Condos
- For the 12-month period spanning May 2021 through April 2022, closed sales in the Coastal Carolinas regions were up 7.8% overall; $300k and above continues to be the price range with the largest gains boasting an increase of 58.7%
>> Learn more on listing your home for sale in our current market here.
Check out the March Market Report below & Contact Our team To Learn What your home is worth!
Note: This data is an expert from the Coastal Carolina Association of Realtors monthly report and encompasses Myrtle Beach and the surrounding areas that comprise the South Carolina coast. At CRG Companies, we continually track and analyze market data to help you make the most informed decision possible. If you’re thinking of making a move, talk to one of our Realtors or our client care team to start your home buying journey or help determine your home value to see if the time is right to sell!
2022 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 and is updated after the close of each month to allow time for all transactions to be reported.
We suggest using this 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!
We Are Here For You
Our team is here to answer questions on how our economy will effect home sales. If you aren't sure whether to continue your home search, we can help review market factors and your unique situation to determine a plan of action tailored to you. Contact your agent or our Client Care Team anytime!
Video Gallery
May 2020 Real Estate Market Report
Across the nation, there has been an increase in activity in Real Estate. One of the biggest things is the interest rates that have remained at 3.3% for four weeks.
The current market review below reflects the sales statistics for the Coastal Carolina's Housing Market as of June 2020, and compares the statistics for May 2020 against those from May 2019.
READ FULL REPORT>> http://bit.ly/CRGMarketStats
April 2020 Real Estate Market Report
The current market review below reflects the April sales statistics for the Coastal Carolina's housing market. Real estate is an essential business, and as such, our whole industry has continued to adapt the way we do business in order to continue serving our clients. Since the novel COVID-19 virus outbreak, our whole industry has come together to keep moving forward. Virtual tours, more zoom closings and e-Signings are just some of the ways we have been able to continue business “as usual” in this incredib
March 2020 Real Estate Market Report
The current market review below reflects the sales statistics for the Coastal Carolina's Housing Market as of April 2020. As Real Estate is an essential business, we have continued to evolve our practices in way to ensure client safety as well as the safety of our team. As the numbers reflect, aside from Condo sales, we continue to see an increase in the number of homes sold. Compared to March 2019, Single Family home sales were up 2.5% with a total of 829 homes sold in March of 2020. Condos and townhome sa
Real Estate News: 2020 Federal Interest Rate Cuts & How They Effect You
This historic drop in rates by The Federal Reserve has left many of us wondering what (if any) effects this will have on home loans and mortgage rates. Here to help us answer those questions and navigate these uncharted waters is local lending expert, Trippett Boineau from Citizens One Home Loans.
January 2020 Real Estate Market Report
The 2020 housing market is off to a strong start, and sets an optimistic tone for the Spring market ahead. CRG Sales Manager, Rainbow Russell, reviews this January's numbers compared to 2019, and the projections for the selling season ahead.
2019 Annual Real Estate Market Review
Breaking down the annual report of Coastal Carolina's Housing Market, CRG Sales Manager, Rainbow Russell reviews this past year's real estate market and gives us a forecast for what’s ahead in 2020.
November 2019 Real Estate Market Report
Nationally we have seen many economic signs that are quite strong, including steady mortgage rates and the continual rise in residential new construction. Locally, the Myrtle Beach market experienced a decrease in days on the market, as well as a huge increase in pending and closed sales for both single-family homes and condos. Overall, our market report indicates another good year ahead. Read the full report here for more>> http://bit.ly/CRGMarketStats
September 2019 Real Estate Market Report
For this months market report CRG Sales Manager, Rainbow Russell, is joined by local lender Cole Williams of Revolution Mortgage, a Tides Magazine advertising partner, to discuss mortgage rates and current factors that are influencing the real estate market. On the local scene, the Myrtle Beach market is beginning its annual slow down, which is a national trend. This, along with the historically low interest rates we are seeing, creates a great environment for buyers who will find less properties available.
October 2019 Real Estate Market Report
This month’s market report shows a slight increase to the nationwide interest rates, which did not affect the market and are still at a historical low. These low rates are projected to hold well into 2020, which is good news for anybody looking to sell or buy real estate.
Our Myrtle Beach area experienced a huge increase in pending sales this October compared to October 2018. Our area also saw a slight decrease in supply for single-family homes and condos, which is typical for this time of the year.
August 2019 Real Estate Market Report
The Myrtle Beach market is heavily driven by those who are retiring and moving to the area, as well as those purchasing second homes and investment properties. This, along with our desirable location, create year-round market stability.
Our August report shows now is the time to stay diligent in understanding the market and monitoring inventory, if you are looking to purchase. Likewise, sellers are still experiencing a rise in home prices and a decrease in overall days on the market.
July 2019 Real Estate Market Report
Monthly review of the real estate market for the Coastal Carolina's comparing this July 2019 against the numbers from July 2018. Understanding the state of the market can help you determine the right time for you to buy or sell your home...Our recent market analysis can help you determine the right time to make your next move. View the full report online: http://bit.ly/CRGMarketStats
June 2019 Real Estate Market Report
Monthly review of the Myrtle Beach real estate market for June 2019 with Rainbow Russell, CRG Sales Manager. Understanding the state of the market can help you determine the right time for you to buy or sell your home...Our recent market analysis can help you determine the right time to make your next move. View the full report online: http://bit.ly/CRGMarketStats
May 2020 Real Estate Market Report
Nationally several factors are contributing to a high buyer demand, such as interest rates remaining at 3.3% for four weeks in a row, that are projected to hold for a prosperous June and remainder of 2020. Locally, the Myrtle Beach market continues to experience a decrease in supply, however, the homebuyer demand is definitely there, especially for second homes and condos.
April 2019 Real Estate Market Report
This market review is comparing the April 2019 sales statistics for the Coastal Carolina's housing market against the numbers from the year before. Across the nation, there has been an increase in activity in Real Estate, which is shown in the numbers.
Check out the full report online -> http://bit.ly/CRGMarketStats
March 2019 Real Estate Market Report
This market report takes a look at March 2019 versus March 2018 and gives an overall picture of the health of our Spring Market Season.
View the full report online: http://bit.ly/CRGMarketStats
February 2019 Real Estate Market Report
Review of the Myrtle Beach real estate market for February 2019 with Rainbow Russell. Understanding the state of the market can help you determine the right time for you to buy or sell your home...Our recent market analysis can help you determine the right time to make your next move. View the full report online: http://bit.ly/CRGMarketStats
January 2019 Real Estate Market Report
Monthly review of the Myrtle Beach real estate market for January 2019 with Rainbow Russell, CRG Sales Manager. Understanding the state of the market can help you determine the right time for you to buy or sell your home...Our recent market analysis can help you determine the right time to make your next move. View the full report online: http://bit.ly/CRGMarketStats
2018 Annual Real Estate Market Review
Annual review of the Myrtle Beach real estate market for 2018. Understanding the state of the market can help you determine the right time for you to buy or sell your home. Our recent market analysis can help you determine the right time to make your next move. View the full report online: http://bit.ly/CRGMarketStats
June 2020 Real Estate Market Report
The June 2020 Coastal Carolina Market reflects a strong market with an increase in closed sales for both condos and single-family homes and, more dramatically, an increase in pending sales of over 40%. While inventory remains low, we urge sellers to consider listing now to take advantage of the prime market factors.
Myrtle Beach Market Report - July 2020
Across the nation and along the Grand Strand this summer we saw exponential growth over the understandably slow spring. When we compare the numbers year over year, we see the same increase in trends which is a good sign for the overall market. Pent up buyer demand from Coronavirus delays along with interest rates remaining low are two factors that heavily contribute to the record breaking numbers we are seeing. Low market inventory continues to be the biggest hurdle with getting to contract as we have more
Myrtle Beach Market Report - August 2020
We are heading in to fall however, typical of 2020, this year looks different than most. The market for both new home construction and resale homes shows no signs of slowing down as we head back-to-school. View the full report to determine if now is your time to make a move.
September 2020 Real Estate Market Report
Compared to September of last year, our monthly Myrtle Beach Real Estate Market Analysis shows a continuation of the same results from our summer selling season with both closed and pending sales for single-family and condo properties dramatically increasing. With these great numbers we face the challenge of low supply, which along with the upcoming elections and Holidays, could slow down the overall market in the coming months.
Fall Market Report
As November comes to a close we are taking a look at the market performance overall for the fall compared to last year and the numbers continue to tick upward following the same trends we have been watching since early summer. Over the last few months, pent up demand created by the pandemic shifted sales from spring to summer and now, well into fall, we are still experiencing a higher demand than we have inventory to support. We did experience a slight downturn during the elections, however have already see
2020 Annual Report: Myrtle Beach Real Estate Market
From politics to a global pandemic 2020 was an unprecedented year! The Real Estate market proved to follow suit, wrapping up with astounding numbers not seen since 2006. Housing starts, permits, and existing home sales are all continuing at accelerated rates, leading industry experts to believe that the pandemic may have just been the catalyst to a strong and prolonged market expansion.
Check out this Annual Report from BIC, Rainbow Russell as we take a look at the trends that are influencing the current
February 2021 Market Report
Thinking of buying or selling? CRG Companies Broker-In-Charge, Rainbow Russell, and Top Producers, Josh Meetre and Marc Zucconi as they take a deeper look into our monthly market report and share strategies for managing buyer expectations and getting sellers to the market amid housing supply challenges!
Market Report: Increase In Oceanfront Demand
The only variable that seems to be slowing home sales in this month's Market Report is the lack of inventory! Among the growing segments are the oceanfront investors, seeking turnkey ready condos for sale as well as million dollar oceanfront homes. Broker-In-Charge, Rainbow Russell and Realtor, Mary Vest take you on-site to one of CRG's newest listings on the Golden Mile of Myrtle Beach to discuss what buyers are seeking when it comes to oceanfront homes.
Market Report: Understanding The Post Pandemic Market
We are reviewing the most recent market report published by the Coastal Carolina Realtors Association and taking a look at what you need to know whether you are buying, selling or building right now in Myrlte Beach as recovery from the pandemic has fueled low inventory and peak demand.
Market Report: Listing Your Home In A Hot Market
Check out the July Market Report and explore ways to list your home in a hot market!
Market Report: August 2021
As summer winds down, see what is in store with the Myrtle Beach Real Estate market in our monthly report.
Real Estate Market Report | September 2021
Even though we are quickly approaching the Holiday season you will see increases across the board, aside from inventory, as we are still in a very hot market!
October 2021 | Myrtle Beach Market Report
See what's trending among buyers, sellers, and builders along the Grand Strand as we compare the numbers from 2021 to 2020.
2022 Q1 Mortgage Rate Update
New fees released for investment properties create urgency among second-home buyers while increasing the buying power of those purchasing a primary residence.
Grand Strand Communities
Cape Fear Communities
Purchasing land for new construction is a fun first step in building a custom home. There are, however, some additional factors that come into play when purchasing land, especially in the coastal areas of the Grand Strand, that you will need to keep ...
