Is North Myrtle Beach, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing North Myrtle Beach is a buyer's market

Buyer's
Market

Difference Since May 2023

At the same time last year, North Myrtle Beach was a Seller's Market.

Key Takeaway

North Myrtle Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in North Myrtle Beach, SC

How much do homes in North Myrtle Beach, SC cost?

Median Sold Price

$386,021

$297/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$1,195(-0.3%)

Key Takeaway

The sold price of homes in North Myrtle Beach has remained the same since last year.

Summary: The median home sold price in North Myrtle Beach was $386,021 in May 2024, down 0.3% from last year, and the median price per square foot was $297.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $234.8K$219.4K
-6.6%
2 $285K$273.6K
-4.0%
3 $440.2K$457.1K
+3.8%
4 $626.3K$655K
+4.6%
5+ $822.5K$928K
+12.8%

Summary: North Myrtle Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.6%, 2 bedroom homes decreased by 4%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes increased by 12.8%.

Median Sold Price Compared To Nearby Cities

Little River
+2.5%
North Myrtle Beach
-0.3%
Conway East
-1.8%

Housing Supply in North Myrtle Beach, SC

How many homes are available in North Myrtle Beach, SC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
929978+5.3%

Summary: The North Myrtle Beach real estate market had 978 homes for sale in May 2024, a 5.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 8485
+1.2%
2 315330
+4.8%
3 340353
+3.8%
4 128142
+10.9%
5+ 6268
+9.7%

Summary: The North Myrtle Beach housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 1.2%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 10.9%, and 5+ bedroom homes increased by 9.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE
152135-11.2%

Asking Price vs. Sold Price

106 Homes Were Sold
Under Asking

24 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in North Myrtle Beach, you may be able to get a good deal. 78.5% of homes here sold below asking price last month.

Summary: A total of 135 homes were sold or pending in North Myrtle Beach in May 2024, down by 11.2% month-over-month. Of the 135 sold homes, 79% were sold under asking, 18% were sold at asking, and 4% were sold over asking.

Days on Market for North Myrtle Beach, SC

How long does it take to sell a home in North Myrtle Beach, SC?

Average Sale Time

May 2023May 2024CHANGE
92 Days87 Days-5.8%

Summary: Homes in North Myrtle Beach had an average of 87 days on market in May 2024, down by 5.8% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

79 Homes Were Sold
In 30 - 90 Days

46 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in North Myrtle Beach has remained consistent over time.

Summary: During May 2024, 135 homes were sold in North Myrtle Beach; 7% of homes were sold within 30 days, 59% of homes were sold within 30 to 90 days, and 34% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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