The big news update for the 2022 Myrtle Beach real estate housing market is the lack of homes and condos available for sale. The latest numbers are out and the MLS report for the Myrtle Beach, SC area for the full year. The information shows a continued increase in home and condo prices in the Myrtle Beach area with the “inventory in months” dropping back down even more to a mere 1.4 months, the lowest in the history of the MLS. This continues to be caused by in-migration as well as a severe lack of inventory, even new homes which take years to plan, plot, and build. Keep in mind a “balanced” market where it’s equal for buyers and sellers is said to be about 6 months of inventory, and we are just a little more than a month. The average home sales price for the metro area is now at $305,000, up 17.3% when comparing 2021 to 2020 with the median sales price up.
Myrtle Beach Supply of Homes For Sale
How was the SC Real Estate Market?
How hot is the Myrtle Beach housing market?
- Myrtle Beach is Very Competitive. With just 1.4 months of inventory currently in stock
- If the home is listed properly, we are still seeing multiple offers
- The average homes sell at 100% of list price (if the are accuratly priced at market) and go pending in around 57 days.
- Hot homes can sell for about 5% above list price and go pending in around 36 days.
Myrtle Beach Housing Market Trends
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604 N. 27th Ave. Myrtle Beach, SC 29577