Myrtle Beach Real Estate Market Update

By
Real Estate Agent with Re/Max Southern Shores

Myrtle Beach Real Estate Market is contributing to South Carolina being the 10th fastest growing state in the nation. Overall, year to date, sales for single family homes are up 3% and 24% versus 2010 and 2009 levels. The increase in sales is offset by lower median sales price. In February 2011, the median sales price was $170,000 (driven by higher levels of distressed properties- 41% of single family home sales were distressed). Year to date, condo sales activity was up from January 2011 but down 6.5% versus February 2010. The median sales price of condos has continued to decline to $100,000. This was driven by distressed sales which accounted for 47.2% of all condo sales.   

CLOSED SALES - (YEAR TO DATE)

                               SINGLE FAMILY HOMES                          CONDOS

2009                        341                                                     254

2010                        413                                                     442

2011                        424                                                     417

 

 

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Topic:
ActiveRain Community
Location:
South Carolina Horry County Myrtle Beach
Groups:
Almost Anything Goes
Posts to Localism
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Tags:
myrtle beach real estate
myrtle beach market
myrtle beach realtors
myrtle beach sc

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Rainer
189,754
Virginia Cheezum
F. C. Tucker Company

Looks like you're coming back down there!  We're seeing the market come alive in the Northern Virginia area, too.  Let's hope this continues!

March 25, 2011 07:20 AM
Rainer
350,970
Nor Yeretsian
Envoy Capitol Realty Inc., Brokerage Toronto
Envoy Capitol Realty Inc.

Thanks for the update Wendy.

Things will turn, there are lots of Canadians interested in Florida, especially after a good winter.

cheers

Nor

March 25, 2011 07:28 AM
Rainmaker
367,811
Kevin Robinson
High End Vacation Homes

Thanks for the update. I have a few condos in that area. Seems like the condo market can't get off the ground quite yet.

March 25, 2011 10:27 AM
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Rainmaker
60,675

Wendy Hodges

Davis & Hodges
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