August 2007 MLS Stats

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 - 5,016
Average Listing Price - $511,177
High Price - $26,500,000
Low Price - $15,000

Total Pending SFH - 781
Average Listing Price - $295,058
High Price - $3,800,000
Low Price - $6,000

Total Sold SFH - 337
Average Sold Price - $290,175
Average List Price - $304,641
High Price - $1,700,000
Low Price - $1,900

New SFH Listings Added in June - 1,011

As you can see with the number of sold listings versus total listings, the Myrtle Beach market is a Buyers' Market. Currently, we have over a year supply of single family homes to sell. However, when you compare the sold price versus the list price, homes are selling for an average of 95% 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 - 7,932
Average Listing Price - $290,565
High Price - $2,995,000
Low Price - $44,900

Total Pending Condos/Townhouses - 1,514
Average Listing Price - $285,957
High Price - $1,675,000
Low Price - $56,900

Total Sold Condos/Townhouses - 227
Average Sold Price - $214,352
Average List Price - $226,650
High Price - $1,495,000
Low Price - $40,000

New Condos/Townhouses Listings Added in June - 1,151

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 35 month inventory based on current sales. Our sale price versus list price is holding high. Sellers are receiving, on average, 95% of their listing price.