I’ve got the latest Myrtle Beach Housing Market Update for you!

Looking to see if now is the best time to buy a house in Myrtle Beach or to sell your home? I cover it here in the market update. At the end of the post, I have some information about the market in the various cities along the Grand Strand.

Whether you’re a buyer or seller, these numbers are going to give you some valuable insights into the current market trends. I will go over the single-family homes update and then will cover the condos market update since there are slight differences between the two. So, let’s dive right in!

Let’s start with the county overall…

Single-Family Homes Market Update for Horry County

The Months Supply of Inventory – it’s 4.53 right now.

First up, we have the Months Supply of Inventory, which is currently at 4.53. This tells us how long it would take for all the current homes on the market to be sold, given the current pace of sales. The 12-Month Change in Months of Inventory is showing a significant increase of +47.56%. This means that there are more homes available for sale compared to the previous year, which could indicate a shift towards a buyer's market.

The Median Days Homes are On the Market – 45 days

Now, let’s talk about the Median Days Homes are On the Market, which is a mere 45 days. This means that homes are selling relatively quickly in this market. This could be attributed to the low Months Supply of Inventory and high demand from buyers.

The List to Sold Price Percentage – a stellar 97.6%.

When it comes to the List to Sold Price Percentage, we’re looking at a strong 97.6%. This means that homes are typically selling very close to their asking price, which is good news for both buyers and sellers.

The Median Sold Price – $356,450!

Lastly, the Median Sold Price is $356,450. This gives us a snapshot of the average price that homes are selling for in the current market.

Overall, these metrics paint a picture of a dynamic and active real estate market. Buyers can expect to find a competitive market with limited inventory (but it has been increasing over the past few months), while sellers can look forward to quick sales and strong prices. It’s an exciting time in the world of real estate, so whether you’re buying or selling, now is the time to make a move!

Condo Market Update for Horry County

The Months Supply of Inventory strutting in at 4.53

What’s the scoop? Well, imagine if no new homes popped up – it would take about 7.45 months to clear out all the listings. A lower number typically indicates a seller’s market, while a higher number indicates a buyer’s market. 6 is considered a balanced market between buyers and sellers. Currently, numbers are showing a balanced market where there is a relatively equal number of buyers and sellers. However, the 12-Month Change in Months of Inventory has increased by +41.63%, suggesting a shift towards a more buyer-friendly market with an increase in inventory.

The Median Days Homes are On the Market – 67 days

The Median Days Homes are On the Market is 67, which aligns with the increase in inventory and implies that homes may take slightly longer to sell compared to previous months.

The List to Sold Price Percentage – a solid 96.1%

Sellers are hitting the bulls-eye with their asking prices. This can be a good sign for sellers as it shows that properties are being priced accurately and attracting serious buyers. It’s like a balanced market dance, where buyers and sellers groove with equal negotiating power.

The Median Sold Price takes center stage at $224,000!

It’s the middle ground for all homes sold, your guide to market value and trends. Buyers, it’s your cue on what to expect. Sellers, let this number be your maestro for pricing your home competitively.

Housing Market Update for Cities along the Grand Strand

The median sale prices for the various cities around Myrtle Beach are the following. You go from Loris at $265,000 to Murrells Inlet at $717,000. No matter your budget, we can find a home that you will LOVE.

North Myrtle  $610,000

Little River  $341,000

Longs $320,000

Loris $265,000

Conway  $302,000

Myrtle Beach $405,000

Surfside Beach  $435,000

Murrells Inlet  $717,000

Pawley’s Island  $550,000

I Can Help You Navigate the Market Without the Stress. Here’s The Next Step…

This market is a bit unpredictable right now as the above Myrtle Beach Housing Market shows us. Don’t try to go it alone.

This is what I do every day. Let me help you get started so you can find the dream home you are looking for…without the typical stress of combing through hundreds of properties before finding even one that could be the winner.

The next step is to fill out this form so I know exactly what you are looking for in your home. I can send you over a list of properties that meet your criteria…these will be properties directly from my personal realtor access to the MLS (Multiple Listing Service) so you have the up-to-date property information (plus I can score you the insider scoop on properties that you like).

Fill out this form + Let’s get you started on a better search! Click here: MY HOME SEARCH FORM

If you have any questions, please reach out to me at 843.790.4450 or amber@amberkeinathhomes.com

Your very own local resource,

Amber Keinath