Lots of people want to know if our Myrtle Beach market is slowing down, so I thought I’d give you all some quick stats:

At our market's worst in 2011 (which happens to be right when I moved here), we had 17 months of inventory, making it an extreme buyer’s market. Today we only have 1.9 months of inventory. That means if we didn’t list another home, it would only take two months to sell out of homes completely. A while ago, our inventory was as low as 1.1 months.

Whether it’s an extreme buyer’s or an extreme seller’s market, it means that the market is unhealthy. Six months is considered to be a healthy, balanced market. 

We have 4,997 homes on the market right now, but only 1,664 are actually for sale. The rest are pending. That is more than we had before, but the buyer demand is keeping up. A few years ago, our average sales price was $235,000. Now it is $290,000 because when there’s more demand and a lack of supply, prices go up.

If you have any questions, call, text, or email me. I’d love to help.