Myrtle Beach Real Estate Market Report July 2014
Housing seemed to have a slow start to the spring selling season, but have been on a steady increase since then.
Inventory is slowly rising in some areas.
Activity is picking up pace.
*June SFR Pending Sales in the Coastal Carolinas region were up 34.4% and 5.2% for Condos.
*The SFR price range with the largest gain in sales was the $200,001 to $250,000 range, where they increased 21%.
*Median Sales Price up 7.2% for SFR and 4.5 for Condos
*Closed SFR sales in in region up nearly 6% overall
*The price range that tended to sell the quickest was the $150,000 and Below range at 152 days
*2014 Grand Strand SFR Activity Map on Right.
June 2014 Report
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Single Family Residential (SFR) soar in June … up 6.0% for the full year ; Condo sales continue to lag behind prior year
level; SFR and Condo Sales Prices in 2014 remain strong.
In June, SFR sales were up 11.5% from prior year levels. Year to date (YTD) SFR sales were up 6.0% with 2013 performance. SFR inventory
continues to grow and is up 6.4% from prior year levels and remains at its highest level since 2010. Distressed SFR inventory continues to
decline and is 23.8% below prior year levels. SFR median sales price
remain strong at $193,929 in June and remains up 5.1% in 2014.
Condo sales continue to show year over year weakness. In June, condo sales were down 2.4% as compared to June 2013 levels and YTD 2014
sales are oﬀ 4.4%. Condo inventory remains up 4.5% to 2013 levels. Condo inventory is in line with last month’s inventory and it is expected
that condo inventory has reached its peak and should begin its seasonal decline for the balance of year. The condo distressed inventory declined for the 27th consecutive month and is 46.5% below its 2013 level. June’s median sales price remained strong at $119,900. YTD, Condo median sales prices are up 3.7% to 2013 levels.
Resident1al lot sales in June were down 25.5% from 2013 levels. Oﬀsettng a decline in volume., the median sales price for resident1al lots is up 28.2% from 2013.