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Myrtle Beach Market Update – November 2020
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Closed Transactions - Up 27.2% Inventory - Drastically Down 34.2% Median Sales Price - Up 10.8%
Closed Sales increased 27.2 percent for single-family homes and 24.0 percent for condos.
Pending Sales increased 35.6 percent for single-family homes and 38.4 percent for condos. Inventory decreased 34.2 percent for single-family homes and 21.4 percent for condos.
The Median Sales Price was up 10.8 percent to $265,816 for single-family homes and 10.3 percent to $159,900 for condos.
Days on Market increased 1.6 percent for single-family homes but decreased 12.5 percent for condos. Supply decreased 44.9 percent for single-family homes and 26.5 percent for condos.
Showing activity remains higher than the same period a year ago, suggesting that strong buyer demand is likely to continue into what is typically the slowest time of year. With inventory remaining constrained in most market segments, sellers continue to benefit from the tight market conditions.