Myrtle Beach Real Estate

Myrtle Beach Real Estate Market Report - August 2008

We currently have 21,288 properties available for sale in the Myrtle Beach Market; 6,689 single family homes, 7,570 condos, 5,998 lots and 163 multi family units. 

During the month of August 275 homes have been sold.  That represents 4.11% of available inventory.  At that rate we'll sell out of current inventory in a little over two years.

During the month of August we've had 55 land transactions.  That represents less than 1% of the inventory.  At that rate we'll sell out of the current inventory in a little over 9 years.

During the month of August we've had 197 condos sold.  That represents 2.60% of our total inventory.  At that rate, we'll sell out of the current inventory by the Christmas season of 2011 (3 years, 2.5 months).

During the month of August we've only had one multi-family unit sold.  That represents less than 1% of inventory.  At that rate we'll be sold out of the current inventory in over 13.5 years.

During the month of August we've had a total of 528 transactions.

At the last Horry County Foreclosure Sale Auction held on September 2nd, we had 201 properties on the list, out of which 124 were sold.   That represents 23.48% of the total MLS transactions effected during August.  So roughly a quarter of our current market is comprised of foreclosures.