If you have always dreamed of owning a slice of paradise here along the Grand Strand, be advised that your dream is alive and well with a strong housing market reported in the past month. Even with market fluctuations our sector is experiencing continued progress in here Myrtle Beach.
As evidenced by the latest statistics, opportunities for owning your own home abound in the region and show signs of an ever-improving market for both selling and buying a home for you and your family. In Myrtle Beach, our industry can offer you reliable financing which certainly impacts your ability to qualify for the home of your dreams. With better jobs and stronger wage growth your chances of achieving home ownership is improving with each passing month.
Pending sales for SFR were up over 30% in the past month and for Myrtle Beach condos it was approximately 16%. Homes priced in the $200-$250k range saw the largest gain in sales which shows that home ownership is affordable and ready of you to take advantage of here along the Grand Strand. With inventory decreasing for single family residences, should you find a home that meets and exceeds your needs, don’t hesitate to extend an offer via your real estate professional; what you find today may not be available tomorrow.
Should you have a home on the market currently, if it’s priced in the range of $150,000 the average time for a sale is running below 152 days which is an impressive statistic for our region. With attractive financing available, the inventory of homes decreasing, and the interest in our region increasing, now is an excellent time to be searching for your dream home or downsizing to a smaller home that is more convenient for your family.
Market statistics show that residential lot sales have decreased in the past month as potential buyers searched for and purchased existing homes in Myrtle Beach. The median sales price for residential lots is up from last year approximately 38% which may be impacting the slowing of movement in this sector of our industry. Potential home buyers are extending offers on homes in communities that offer established amenities and conveniences that are available immediately instead of buying lots and building their own homes which can take up to nine months or longer to complete.
Owning your own home in Myrtle Beach is a dream that is alive and well; statistics prove that the activity in our market continues to grow and improve each month.
