Some amazing stats came out yesterday in regards to the Myrtle Beach real estate market. Traditionally January is a huge listing month for those placing their properties on the market after the holidays. This January, that number only went up 1 percent from January of 2012. What amazed me is the next two stats that will show you how strong we at Beach Realty Group believe that the market will be for the upcoming Spring. Inventory levels are 1/3 of what they were a few years ago when searching for a home or condo in the Myrtle Beach area. Inventory is down 18.7% from January one year ago. Closed transactions are up 28.8% for the same period.
Here is the real startling part of the real estate market, and the number one reason that we feel it is a great time to purchase a home or condo in Myrtle Beach. The inventory on foreclosures and short sales in Myrtle Beach is at a 4 year low which is reflected by lower inventory of course. The median prices have also gone down from one year ago. With lower inventory, greater demand and lower prices; wouldn't you think that it is the perfect time to buy real estate in the Myrtle Beach area. For more information on the real estate stats in the Myrtle Beach area call Beach Realty Group at 843-267-4627. We have many graphs that you will enjoy.