Is Myrtle Beach, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Myrtle Beach is a neutral's market

Buyer's
Market

Difference Since November 2021

At the same time last year, Myrtle Beach was a Seller's Market.

Key Takeaway

Myrtle Beach is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in Myrtle Beach, SC cost?

Median Sold Price

$249,663

$254/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$42,802(+20.7%)

Key Takeaway

Homes in Myrtle Beach have sold for 20.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $115K$175K
+52.2%
2 $175K$233.2K
+33.3%
3 $315K$380K
+20.6%
4 $444.9K$518.6K
+16.6%
5+ $581.4K$563.3K
-3.1%

Median Sold Price Compared To Nearby Cities

North Myrtle Beach
+22.0%
Myrtle Beach
+20.7%
Conway East
+20.1%

How many homes are available in Myrtle Beach, SC?

Number of Homes For Sale

Oct 2022Nov 2022%
714698-2.2%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 246233
-5.3%
2 167163
-2.4%
3 172173
+0.6%
4 107107
0.0%
5+ 2222
0.0%

Number of Homes Sold

Oct 2022Nov 2022%
132114-13.6%

Asking Price vs. Sold Price

84 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Myrtle Beach, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.

Average Sale Time

Nov 2021Nov 2022%
85 Days111 Days+30.6%

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

60 Homes Were Sold
In 30 - 90 Days

49 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Myrtle Beach has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Myrtle Beach, SC

Number of homes for sale in Myrtle Beach, SC real estate market have reached 698. The inventory of homes for sale in Myrtle Beach, SC between October 2022 and November 2022 decreased by 2.2%. In November 2022, listings were on the market for 111 days. During the same period, the median list price in this real estate market was $249,663. From October 2022 through November 2022, the following changes in listing prices were observed in this housing market: prices of 1 bedroom properties went up by 52.2%, prices of 2 bedrooms properties increased by 33.3%, the cost of 3 bedrooms properties went up by 20.6%, the cost of 4 bedrooms properties went up by 16.6%, the cost of 5 bedrooms properties went down by 3.1%. Volume of homes for sale changed: number of 1 bedroom homes decreased by 5.3%, the quantity of 2 bedrooms homes went down by 2.4%, 3 bedrooms homes became 0.6% more available, 4 bedrooms homes did not move, 5 bedrooms homes did not move. While more than 13 listings in Myrtle Beach, SC in November 2022 were sold above asking price, there were more than 17 listings sold at asking price, and more than 84 were sold below.

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