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 April 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

$317,039

$212/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$2,217(+0.7%)

Key Takeaway

Homes in Myrtle Beach have sold for 0.7% more than they did a year ago.

Summary: The median home sold price in Myrtle Beach was $317,039 in April 2024, up 0.7% from last year, and the median price per square foot was $212.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $175K$177.1K
+1.2%
2 $234.9K$233.2K
-0.7%
3 $333.4K$331.1K
-0.7%
4 $475.4K$479.2K
+0.8%
5+ $545.2K$545.8K
0.1%

Summary: Myrtle Beach housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.2%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes decreased by 0.7%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 0.1%.

Median Sold Price Compared To Nearby Cities

Myrtle Beach
+0.7%
North Myrtle Beach
0.4%
Conway East
-0.6%

Housing Supply in Myrtle Beach, SC

How many homes are available in Myrtle Beach, SC?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
2,6382,761+4.7%

Summary: The Myrtle Beach real estate market had 2,761 homes for sale in April 2024, a 4.7% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 401406
+1.2%
2 736780
+6.0%
3 9711,018
+4.8%
4 370397
+7.3%
5+ 160160
0.0%

Summary: The Myrtle Beach housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 6%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
410401-2.2%

Asking Price vs. Sold Price

304 Homes Were Sold
Under Asking

75 Homes Were Sold
At Asking

22 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. 75.8% of homes here sold below asking price last month.

Summary: A total of 401 homes were sold or pending in Myrtle Beach in April 2024, down by 2.2% month-over-month. Of the 401 sold homes, 76% were sold under asking, 19% were sold at asking, and 5% 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

Apr 2023Apr 2024CHANGE
107 Days111 Days+3.7%

Summary: Homes in Myrtle Beach had an average of 111 days on market in Apr 2024, up by 3.7% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

191 Homes Were Sold
In 30 - 90 Days

189 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.

Summary: During April 2024, 401 homes were sold in Myrtle Beach; 5% of homes were sold within 30 days, 48% of homes were sold within 30 to 90 days, and 47% 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 11 Days Ago

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