Myrtle Beach Real Estate Market Update

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