June 2007 MLS Stats

At the end of each month, I am going to post the end of the month MLS stats. I am a member of the Coastal Carolina Association of REALTORS that serves Horry and Georgetown counties plus a few surrounding areas.

I defined residential homes as single family detached homes and single family new construction as these are the most popular residential properties.

Total Active SFH - 4,906
Average Listing Price - $508,403
High Price - $26,500,000
Low Price - $6,000

Total Pending SFH - 944
Average Listing Price - $290,174
High Price - $3,800,000
Low Price - $234,900

Total Sold SFH - 301
Average Sold Price - $297,509
Average List Price - $310,663
High Price - $4,350,000
Low Price - $36,500

New SFH Listings Added in June - 1,009

As you can see with the number of sold listings versus total listings, the Myrtle Beach market is a Buyers' Market. However, when you compare the sold price versus the list price, homes are selling for an average of 96% of the listings price. This percentage has held over the last few years.

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The condo and townhouse category includes condos, townhouses, 1/2 duplexes and new construction projects.

Total Active Condos/Townhouses - 7,880
Average Listing Price - $285,259
High Price - $2,995,000
Low Price - $46,500

Total Pending Condos/Townhouses - 1,603
Average Listing Price - $281,925
High Price - $2,300,000
Low Price - $45,000

Total Sold Condos/Townhouses - 325
Average Sold Price - $377,189
Average List Price - $383,682
High Price - $875,000
Low Price - $46,000

New Condos/Townhouses Listings Added in June - 1,008

The condo market is similar to the single family home market in that we currently have a high level of inventory. Specifically, we have about a 24 month inventory based on current sales. Our sale price versus list price is holding high. Sellers are receiving, on average, 98% of their listing price.