The Myrtle Beach area has experienced a welcomed month-to-month increase in residential sales activity from January through August. It is anticipated this trend will continue throughout the year due to excellent interest rates and some great bargains. It is also encouraging to see the number of sales over the 2011 figures each and every month with better than average improvements in May, June, and July of this year over the preceding months in 2011.
While inventory of residential properties has declined slightly each month over the last several months, there are 4,417 residential properties currently on the market. The largest percentage of homes on the market are between $100,000 to $200,000 with 1,739 listings. The second largest group is $200,00 to $400,000 which reflect 1,576 active listings. This price range also has had the most sales year-to-date at 804 and is a healthy 7.7% increase compared to 2011 which had 746 sales.
The market still clearly favors buyers due to ample distressed properties, bargain prices, and at or near record low interest rates. This does not mean if you are a seller that you cannot sell. It means you if you are selling your must be priced in the market and you must be have a good marketing strategy