Is Myrtle Beach, SC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Myrtle Beach was a Seller's Market.
Key Takeaway
Myrtle Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Myrtle Beach, SC
How much do homes in Myrtle Beach, SC cost?
Median Sold Price
$319,857
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Myrtle Beach have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Myrtle Beach was $319,857 in June 2024, up 1.5% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $175K | 0.0% |
| 2 Bedrooms | $230K | $233.6K | +1.6% |
| 3 Bedrooms | $332.6K | $334.1K | 0.4% |
| 4 Bedrooms | $482.6K | $479.8K | -0.6% |
| 5+ Bedrooms | $532.5K | $548.4K | +3.0% |
Summary: Myrtle Beach housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 0.4%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Cities
| North Myrtle Beach | $380.3K | $394.1K | +3.6% |
| Myrtle Beach | $315K | $319.8K | +1.5% |
| Conway East | $339.9K | $334.4K | -1.6% |
Housing Supply in Myrtle Beach, SC
How many homes are available in Myrtle Beach, SC?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 2,915 | 2,926 | 0.4% |
Summary: The Myrtle Beach real estate market had 2,926 homes for sale in June 2024, a 0.4% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 421 | 426 | +1.2% |
| 2 Bedrooms | 784 | 798 | +1.8% |
| 3 Bedrooms | 1,085 | 1,090 | 0.5% |
| 4 Bedrooms | 440 | 434 | -1.4% |
| 5+ Bedrooms | 185 | 178 | -3.8% |
Summary: The Myrtle Beach housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 0.5%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes decreased by 3.8%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 477 | 380 | -20.3% |
Asking Price vs. Sold Price
280 Homes Were Sold
Under Asking
75 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
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.
Summary: A total of 380 homes were sold or pending in Myrtle Beach in June 2024, down by 20.3% month-over-month. Of the 380 sold homes, 74% were sold under asking, 20% were sold at asking, and 7% were sold over asking.
Days on Market for Myrtle Beach, SC
How long does it take to sell a home in Myrtle Beach, SC?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 94 Days | 103 Days | +10.3% |
Summary: Homes in Myrtle Beach had an average of 103 days on market in Jun 2024, up by 10.3% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
179 Homes Were Sold
In 30 - 90 Days
183 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Myrtle Beach are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During June 2024, 380 homes were sold in Myrtle Beach; 5% of homes were sold within 30 days, 47% of homes were sold within 30 to 90 days, and 48% of homes were sold over 90 days.
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