Is Murrells Inlet, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Murrells Inlet is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Murrells Inlet was a Seller's Market.

Key Takeaway

Murrells Inlet is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Murrells Inlet, SC

How much do homes in Murrells Inlet, SC cost?

Median Sold Price

$378,791

$229/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$2,669(-0.7%)

Key Takeaway

Homes in Murrells Inlet have sold for 0.7% less than they did a year ago.

Summary: The median home sold price in Murrells Inlet was $378,791 in October 2024, down 0.7% from last year, and the median price per square foot was $229.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $247.5K$239K
-3.4%
2 $270K$288K
+6.7%
3 $370K$362.7K
-2.0%
4 $544.5K$565K
+3.7%
5+ $862K$890K
+3.2%

Summary: Murrells Inlet housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.4%, 2 bedroom homes increased by 6.7%, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 3.2%.

Median Sold Price Compared To Nearby Cities

Surfside Beach
+15.0%
Waccamaw Neck
+2.7%
Murrells Inlet
-0.7%

Housing Supply in Murrells Inlet, SC

How many homes are available in Murrells Inlet, SC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
427467+9.4%

Summary: The Murrells Inlet real estate market had 467 homes for sale in October 2024, a 9.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 2227
+22.7%
2 6774
+10.4%
3 230253
+10.0%
4 6160
-1.6%
5+ 4753
+12.8%

Summary: The Murrells Inlet housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.7%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 12.8%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
7871-9.0%

Asking Price vs. Sold Price

54 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Murrells Inlet, you may be able to get a good deal. 76.1% of homes here sold below asking price last month.

Summary: A total of 71 homes were sold or pending in Murrells Inlet in October 2024, down by 9.0% month-over-month. Of the 71 sold homes, 76% were sold under asking, 24% were sold at asking, and 0% 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

Oct 2023Oct 2024CHANGE
78 Days103 Days+32.9%

Summary: Homes in Murrells Inlet had an average of 103 days on market in Oct 2024, up by 32.9% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

42 Homes Were Sold
In 30 - 90 Days

27 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Murrells Inlet has remained consistent over time.

Summary: During October 2024, 71 homes were sold in Murrells Inlet; 1% of homes were sold within 30 days, 59% of homes were sold within 30 to 90 days, and 38% 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 18 Days Ago

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