29582, North Myrtle Beach, SC Real Estate & Homes for Sale | RE/MAX (2024)

FAQs

Are home prices dropping in North Myrtle Beach SC? ›

The North Myrtle Beach housing market isn't that competitive. The median home sales price in February 2024 has increased in the past 3 months to $401,970. That's down 3.6% and $14,938 lower than February 2023 of last year.

So why is this famous beach community so affordable? Because the city has a dark side as well. The violent crime rate in Myrtle Beach is more than four times the national average, according to the most recent FBI data. That's brought home prices down.

Selling a house in South Carolina

Home values have increased by 6.7% since last year, and the number of days it takes to sell a home has decreased from 81 days in February 2023 to 74 days in February 2024. The best time to sell your home in South Carolina is in July, when homes sell fastest and for the most money.

Red Hill. #1 Suburbs with the Lowest Cost of Living in Myrtle Beach Area.

Cost of Living in North Myrtle Beach, South Carolina by Expense Category. North Myrtle Beach's housing expenses are 32% lower than the national average and the utility prices are 17% higher than the national average. Transportation expenses like bus fares and gas prices are 10% higher than the national average.

Average Rent: $1,599

For the ultimate in affordability, look no further than Myrtle Beach, the least expensive beach town in South Carolina. With a median home price of $305,000 and an average rent of $1,599, Myrtle Beach offers unbeatable value for those dreaming of coastal living.

The Myrtle Beach real estate market offers real estate investors demand for long and short-term rentals, very high home price appreciation, and a stable economy. They combine to create a great investment opportunity no matter what property type you choose to invest in.

Which is more affordable: Myrtle Beach or Hilton Head Island? Shifting our focus to the financial aspect, Myrtle Beach clearly stands out as the more budget-friendly choice. The median home price in Myrtle Beach is half of that in Hilton Head!

If popular opinion is any guide, now may still be a good time to sell despite the evolving market. According to Fannie Mae's February 2024 Home Purchase Sentiment Index, about two-thirds of respondents — 65 percent — feel it is a good time to sell.

Sellers can net thousands of dollars more if they sell during the peak months of May, June and April compared to the three slowest months of the year, October, November and December, according to a 2023 report by ATTOM Data Solutions.

Are home prices dropping in SC? ›

Are home prices dropping in South Carolina? As of November 2023, South Carolina's median home price is down by 7.1% at $360,800 from the national average price of $387,600. This decrease is primarily due to increased sales opportunities and more available listings.

The Myrtle Beach area real estate market in 2024 is looking to speed up after a slowdown in 2023. Homes stayed on the market longer than in previous years as the pace of buying property in the Myrtle Beach area has slowed due to national factors.

Decreased Home Prices

As of November 2023, South Carolina's median home price is down by 7.1% at $360,800 from the national average price of $387,600.

However, the overall trend suggests that home prices are not dropping significantly across the state. Factors such as strong demand, limited inventory, and economic stability contribute to the sustained appreciation of property values in many areas of South Carolina.