Spring is in the air, and so are some of the numbers in the Myrtle Beach real estate market. Here is a closer look at the listings, buying trends, inventory, movement, and more from early 2024 to predict what to expect in the market in the coming months.
Listings
Although the National Realtors Association (NAR) reports a slower pace of sales overall across the country, here in Myrtle Beach, listings are up. According to the December 2023 real estate market report released by the Coastal Carolinas Association of Realtors (CCAR), new listings were up 20.1 percent in 2023, compared to the number of listings in December 2021. This is said to be a result of an increase in inventory due to the boom of new construction in the area.
Price Points
The average sales price for single-family homes on the Grand Strand is up 3.8% compared to 2022, but the increase year over year has softened a bit, compared to the skyrocketing prices in recent years. In fact, the average sales price of a single-family property in Myrtle Beach was $430,161 in December 2023, a slight shift from $414, 441 a year ago.
Time to Closing
Single-family homes in the Myrtle Beach area are spending 10 more days on the market, an 8.8% increase from last year, which, with added time to breathe, can be an advantage for homebuyers to negotiate or solidify their budget.
Value & Appeal
Another positive trend for homebuyers and sellers in the Myrtle Beach market this spring is that, despite the higher price point for listings many home buyers moving here from the northeast are finding they get a lot for their money. In addition to Myrtle Beach being a lot more affordable than people realize, homes in this area quickly appreciate in value.
2024 has already proven successful for Paige Bird, as she sold seven homes in February alone 2024 also marks Paige’s 20th year working in the real estate industry. During her tenure, she assisted more than 2,200 families in their home-buying and selling journeys. Paige is renowned for her extensive experience and commitment to high ethical standards, which uniquely positions her as the go-to agent for those looking to achieve their 2024 real estate goals. For a free consultation with Paige, contact her today at 843.450.4773.
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For a free consultation with Paige, contact her today at 843.450.4773.
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