June Real Estate Report

Here’s a sprinkling of market stats for this month. Real estate in Myrtle Beach is still selling very well.

$205,500 – Horry County single family average sales price for May (12 month rolling average). May of last year was at $197,967. This price factor has been steadily rising upwards since the beginning of 2013 when the number was at $162,000. Real estate has been a great investment for many that bought during this time frame.
$118 – Price per SQFT for Horry County single family sales in May (12 month rolling). This represents a 5 year high for price per square foot. Last May the price was $108.
1,162 – The number of closed sales in Horry County in May for all property types. That was a little jump from April closed sales. Last May the number was 1,122. All in all, this was a modest increase. However, given the strength of the market last year and the relatively small amount of inventory any jump in volume is pretty impressive.
5,632 – Speaking of limited inventory, this number is the total number of homes for sale in May in Horry County ranging single family, condos, and modular homes. In May of 2016 that number was 6,577. This is yet another indicator that this seems to be a good time to sell your property.
147 – This is the average days that a property spent on the market in Horry County (12 months rolling average) as of May. That may sound like a long time to some, but consider that this is (by far) the quickest that homes have been selling in the last 5 years based on this metric of stats. In January 2012 (for example) the average was 177 days. In that market which was in recovery mode, it was taking about a full extra month to sell homes.
$228,281,151 – This giant number is the Dollar Volume of home sales in Horry County in May of 2017. That’s more of a fun fact than a useable stat if you are thinking about selling (or buying). However, it is an important number. All of that money spent equates to a strong local economy via jobs created and/or supported. So, for anyone buying a home, “thank you” for helping to keep our economy strong!
We’ll see you all next month.

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