Is Murrells Inlet, SC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Murrells Inlet has remained a Seller's Market.
Key Takeaway
Murrells Inlet is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Murrells Inlet, SC
How much do homes in Murrells Inlet, SC cost?
Median Sold Price
$378,958
$226/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Murrells Inlet has remained the same since last year.
Summary: The median home sold price in Murrells Inlet was $378,958 in May 2024, up 0.3% from last year, and the median price per square foot was $226.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $228.5K | $250K | +9.4% |
| 2 Bedrooms | $270K | $285K | +5.6% |
| 3 Bedrooms | $360.1K | $375K | +4.1% |
| 4 Bedrooms | $520K | $559K | +7.5% |
| 5+ Bedrooms | $860K | $880K | +2.3% |
Summary: Murrells Inlet housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.4%, 2 bedroom homes increased by 5.6%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 7.5%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Cities
| Waccamaw Neck | $452.4K | $537.6K | +18.8% |
| Surfside Beach | $449.5K | $532.5K | +18.5% |
| Murrells Inlet | $378K | $378.9K | 0.3% |
Housing Supply in Murrells Inlet, SC
How many homes are available in Murrells Inlet, SC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 490 | 481 | -1.8% |
Summary: The Murrells Inlet real estate market had 481 homes for sale in May 2024, a 1.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 29 | 32 | +10.3% |
| 2 Bedrooms | 91 | 92 | +1.1% |
| 3 Bedrooms | 228 | 216 | -5.3% |
| 4 Bedrooms | 98 | 92 | -6.1% |
| 5+ Bedrooms | 44 | 49 | +11.4% |
Summary: The Murrells Inlet housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.3%, 2 bedroom homes increased by 1.1%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes decreased by 6.1%, and 5+ bedroom homes increased by 11.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 98 | 91 | -7.1% |
Asking Price vs. Sold Price
77 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Murrells Inlet, you may be able to get a good deal. 84.6% of homes here sold below asking price last month.
Summary: A total of 91 homes were sold or pending in Murrells Inlet in May 2024, down by 7.1% month-over-month. Of the 91 sold homes, 85% were sold under asking, 14% were sold at asking, and 1% were sold over asking.
Days on Market for Murrells Inlet, SC
How long does it take to sell a home in Murrells Inlet, SC?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 92 Days | 111 Days | +20.6% |
Summary: Homes in Murrells Inlet had an average of 111 days on market in May 2024, up by 20.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
37 Homes Were Sold
In 30 - 90 Days
51 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Murrells Inlet are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 91 homes were sold in Murrells Inlet; 3% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 56% of homes were sold over 90 days.
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