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 March 2023

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.

Housing Prices in Myrtle Beach, SC

How much do homes in Myrtle Beach, SC cost?

Median Sold Price

$315,202

$213/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$1,613(+0.5%)

Key Takeaway

Homes in Myrtle Beach have sold for 0.5% more than they did a year ago.

Summary: The median home sold price in Myrtle Beach was $315,202 in March 2024, up 0.5% from last year, and the median price per square foot was $213.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $175K$177.1K
+1.2%
2 $230K$232.1K
+0.9%
3 $331.4K$330.1K
-0.4%
4 $470.7K$479.9K
+2.0%
5+ $539.5K$565.3K
+4.8%

Summary: Myrtle Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 0.9%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 4.8%.

Median Sold Price Compared To Nearby Cities

Myrtle Beach
0.5%
North Myrtle Beach
-1.0%
Conway East
-1.2%

Housing Supply in Myrtle Beach, SC

How many homes are available in Myrtle Beach, SC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2,4662,627+6.5%

Summary: The Myrtle Beach real estate market had 2,627 homes for sale in March 2024, a 6.5% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 360392
+8.9%
2 690736
+6.7%
3 914982
+7.4%
4 348357
+2.6%
5+ 154160
+3.9%

Summary: The Myrtle Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.9%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 3.9%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
366388+6.0%

Asking Price vs. Sold Price

288 Homes Were Sold
Under Asking

73 Homes Were Sold
At Asking

27 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. 74.2% of homes here sold below asking price last month.

Summary: A total of 388 homes were sold or pending in Myrtle Beach in March 2024, up by 6.0% month-over-month. Of the 388 sold homes, 74% were sold under asking, 19% 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

Mar 2023Mar 2024CHANGE
105 Days114 Days+8.6%

Summary: Homes in Myrtle Beach had an average of 114 days on market in Mar 2024, up by 8.6% compared to last year.

Breakdown of Home Sale Times

22 Homes Were Sold
Under 30 Days

168 Homes Were Sold
In 30 - 90 Days

198 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

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 March 2024, 388 homes were sold in Myrtle Beach; 6% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 51% of homes were sold over 90 days.

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

Report Updated 25 Days Ago

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