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May 2014 Myrtle Beach Real Estate Market Update - Trends on Homes, Condos, New Construction, Foreclosures
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Home » Blog » Market Insights Report – May 2014
The month of May was another very active month for real estate sales in Myrtle Beach area. 556 Homes were sold and 413 condos were sold. Days on the market are decreasing which means properties are selling faster. Looking ahead to next month, properties under contract have skyrocketed. Below is a breakdown of the data as collected by the Myrtle Beach area MLS (multiple listing service).
Here are some key takeaways:
Condos Sales have surged 18% from the previous month
Days that properties stay on market have reduced meaning properties are selling faster
The price range for homes where we are getting greatest activity is the $150-250K range
New Construction has increased
Distressed properties such as foreclosures and short sales have declined in inventory and sales
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