We’re sure you have been hearing mixed arguments of how exactly the real estate market is doing. Well, even though sales seem to be on the decline elsewhere, The Sun News has reported that is not the case here in Myrtle Beach. Single family homes sold 32% more in the first half of this year while condo sales grew by 38% than last year. Prices seem to have fallen around 5% for both homes and condos since this time last year.

The majority of local real estate agents and brokers interviewed all seem to have the same opinion. Real Estate sales are up, prices are down, and they only expect the market to stabilize. Right now the high amount of cash payers and distressed properties are making prices really low, which is causing the market to be unstable. Agents are hoping that once these properties begin to be sold off, prices will increase when competition increases. This will help in the process of stabilizing. It’s going to be slow and in baby steps, but from here on out we expect the market to stabilize and become popular once again!

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