Myrtle Beach Real Estate

Condos in the Myrtle Beach Area - 3rd Quarter 2008 Report:

Activity for the third Quarter:

Market Overall:

Active: 7,412

Sold: 668

9.01% of the inventory was sold for the quarter.

3% of the inventory was sold per month.

Absorption rate: over 2 years and 9 months.

Myrtle Beach proper:

Active 3,097

Sold: 229

7.39% of the inventory was sold for the quarter.

2.46% of the inventory sold per month.

Absorption rate: 3 years and almost 5 months (to sell out of inventory).

North Myrtle Beach:

Active: 1,273

Sold: 118

9.27% of the inventory was sold for the quarter.

3.09% of the inventory was sold per month.

Absorption rate: a little over 2 years and 8 months.

Surfside - Garden City:

Active: 504

Sold: 55

10.91% of the inventory was sold for the quarter.

3.64% of the inventory was sold per month.

Absorption rate: over 2 years and 3 months.

Litchfield - Pawley's Island:

Active: 424

Sold: 34

8.02% of the inventory was sold for the quarter.

2.67% of the inventory was sold per month.

Absorption rate: over 3 years and 1 month.

Oceanfront Condos:

Myrtle Beach Oceanfront Condos Overall:

Active: 2,568

Sold: 165

6.43% of the inventory was sold for the quarter.

2.14% of the inventory was sold per month.

Absorption rate: 3 years and almost 11 months.

Myrtle Beach Oceanfront Condos:

Active: 1,676

Sold: 99

5.91% of the inventory was sold for the quarter.

1.97% of the inventory was sold per month.

Absorption rate: 4 years and almost 3 months.

North Myrtle Beach Oceanfront Condos:

Active: 672

Sold: 54

8.04% of the inventory was sold for the quarter

2.68% of the inventory was sold per month.

Absorption rate: a little over 3 years and 1 month.

Surfside - Garden City Oceanfront Condos:

Active: 155

Sold: 10

6.45% of the inventory was sold for the quarter.

2.15% of the inventory was sold per month.

Absorption rate: 3 years and almost 11 months.

Litchfield - Pawley's Island Oceanfront Condos:

Active: 63

Sold: 1

1.59% of the inventory was sold for the quarter.

0.53% of the inventory was sold per month.

Absorption rate: 15 years and almost 9 months.

*Note: For the purpose of uniformity I rounded to the nearest figure and expressed the overage with the words "over" or "almost". Ex: 37.45 months were expressed as: over 3 years and 1 month.

**Note: Oceanfront Condos refers to condos located in Oceanfront Buildings.

Myrtle Beach Condos by Mirela Monte

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