Home > Myrtle Beach Real Estate Market
National Market Conditions
2018 1st Quarter Market Report: Home Sales Steady - Prices Continue to Rise

The 1st quarter of 2018 ended on a good note with March existing home sales only down slightly over last year, and with 2018 home sales expected to exceed 2017 excellent year. Home Prices in 2018 continue to rise, increasing 5.8% over the end of March last year.

The most notable change in the 1st quarter was an increase in seller activity. Our survey showed that in 46% of the markets surveyed there were still more buyers than sellers, but a decrease of 27% from March 2017. Additionally, 17% of our markets surveyed showed more seller activity than buyer activity, an increase of 8% over last year. The remaining 37% of the markets showed an equal amount of buyer and seller activity which was an increase of 19% over last year. The increased activity, however did not ease the tight inventory 73% of our markets showing a very tight supply of homes available for sale. Home prices are also on the rise with 86% of markets showing price appreciation in the last year.

According the National association of Realtors (NAR) existing home sales in March were down 1.2% over last year, but annual sales are expected to hit 5.6 million units compared to 5.1 million in 2017; inventory of unsold homes is at a 3.6 month supply and 46% of all homes sold in under one month.

The data in this report is generated primarily from our survey of HouseHunt.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in both buyer and seller activity is up significantly in the 1st quarter of 2018 compared to the buyer and seller activity from last year. Buyer activity is steady or increasing in 94% of the markets surveyed and decreased in only 6% of the markets surveyed indicating a significant 8% increase in activity from Spring 2017. Simultaneously the trend for seller activity posted a solid 10% gain in the 1st quarter of 2018 with 85% of the markets indicating steady or increased seller activity compared to 75% of the markets at this time in 2017. Despite increased seller activity there are still more buyers than sellers and homes are selling quickly. In fact, according to NAR inventories have decreased to 3.6 month supply compared to 3.8 months in March of 2017. A balanced "normal market" is considered to be a 6 month supply of homes for sale.

...Read Full Article
Summer 2018 Market Update
If you can qualify, now is an exceptional time to buy a home in Myrtle Beach. Call now for more information at 803-804-1008
Average Sold Home Price: $350,000

Average Time on Market: More than 120 days

Best Selling Price Range: $150,000 - $199,000

Existing Home Prices for the past 90 days: No Change

Market Trend: Decreasing

Buyer's or Seller's Market: More sellers than buyers

Buyer Activity for the past 90 days: Increasing

Seller Activity for the past 90 days: Increasing

Multiple Offers? Yes

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? 20-25%

Is Financing Available For Qualified Buyers? Yes

Housing Inventory: Good Supply

Housing Inventory Comments: We recently had an Oceanfront Home in Garden City hit the market for $850,000. This home is slated to gross $86,000 in gross rental income this year. Please email or call me for more details. Ocean Front One bedroom Condos in Myrtle Beach are priced right! Certain Building and Units under $100,000 can generate $22,000 in gross rental income.

Greatest Activity: First Time Buyers

Best reason to buy or sell: Lower prices with good selection and competitive interest rates creates a perfect time to buy in Myrtle Beach!

Nearest Metro Area: Myrtle Beach

Housing Hot Spots: Most cities within the Horry County area are considered ’Housing Hotspots’

Contact Information
Sylvia Simpson
803-804-1008
Email Me
Receive New Listings by Email
Search for Homes
Property Type
Minimum Price
Maximum Price
Bedrooms
Bathrooms
Mortgage Rates for Jul 23rd, 2018
30 year fixed rate: 4.63%
15 year fixed rate: 4.25%
30 year jumbo rate: 4.63%
15 year jumbo rate: 4.38%
Check your Home's Value
Your Street Address
Your Zip Code
Real Estate Professional, Sylvia Simpson Sylvia Simpson
Watermark Real Estate Group
Specializing in Myrtle Beach Real Estate
2305 Sailfish Drive
Garden City Beach, South Carolina 29576
803-804-1008
Email Me | Receive New Listings by Email
Brokerage Logo of Watermark Real Estate Group
(Because current market conditions can change rapidly in any given marketplace,
please check with Sylvia Simpson for current Myrtle Beach, SC market conditions before acting on this information.)
Homes for Sale by HouseHunt.com  Your #1 resource for finding Homes for Sale, How Much My Home is Worth, Community Information and Real Estate Agents!
© Copyright 1995-2018 HouseHunt Inc - All Rights Reserved