March 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 - 5,291
Average Listing Price - $478,961
High Price - $9,000,000
Low Price - $17,500

Total Pending SFH - 611
Average Listing Price - $283,198
High Price - $2,400,000
Low Price - $40,000

Total Sold SFH - 197
Average Sold Price - $155,540
Average List Price - $163,405
High Price - $210,000
Low Price - $24,500

New SFH Listings Added in November - 950

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 two 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 is slightly higher than in months past.

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

Total Active Condos/Townhouses - 6,993
Average Listing Price - $274,197
High Price - $4,499,000
Low Price - $45,950

Total Pending Condos/Townhouses - 1,051
Average Listing Price - $99,630
High Price - $128,000
Low Price - $49,000

Total Sold Condos/Townhouses - 177
Average Sold Price - $229,801
Average List Price - $244,525
High Price - $1.075,000
Low Price - $45,000

New Condos/Townhouses Listings Added in November - 914

The condo market is similar to the single family home market in that we currently have a high level of inventory. Our sale price versus list price has fallen sightly. Sellers are receiving, on average, 93.9% of their listing price. More condos sold in March 2008 than did in the previous months.