Myrtle Beach Real Estate Market Update March 2017

Housing Report Myrtle Beach

The spring real estate market in Myrtle Beach is here!  We are gearing up for an all out crazy spring housing market based on the amount of business we have already experienced this year during the first three months of the year.  As someone who has been a Myrtle Beach real estate agent since 2001, I have to say that this has been one of the busiest beginnings to the year that I can remember in a long time. The last time I remember working with this many buyers & sellers in the first three months of the year was probably back in 2006.

Below I’ve attached a video from our local real estate association that highlights some of the key elements in our market for the month of March 2017.  Take a look at it:

The one key statistic I would like to focus on is this one:

Real estate report for March 2017

What this graphic is trying to say is that in the first three months of the year, we have seen a 6.2% price increase on single family residential sales to a median price of $215,000.  Homes that last year sold in December for around $202,000 are now up to $215,000 in just a three month period of time.

The other alarming graphic that I found in this report was that the housing inventory has gone down 8.7% from February 2016.  What this means is that while sellers are getting more for their homes they sell, there is less options out there at this time for buyers to pick from.  This also equates to sellers having even more leverage during the transaction due to less demand.

What all this means is simply this.  If you have been thinking about selling your for the past few months to either buy something larger, smaller, or a different section of Myrtle Beach, there is no time better to do it than now.  Contact me today to learn what I can do to help sell a Myrtle Beach Home and get it sold for you for top dollar.

 

 

Jeremy

Jeremy is a full time REALTOR® who specializes in homes for sale throughout the Myrtle Beach Area.

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