In a recent report by the Coastal Carolina Association of Realtors, home values increased across the Grand Strand on average by 31% from 2020 to 2021.
Myrtle Beach real estate prices rose in every section of the Grand Strand, except in the City Limits of Myrtle Beach, where values fell by 1.3%
This is an exciting time for Myrtle Beach area homeowners who are looking to sell a home. The increase in real estate values means that now is the time to sell. The market is hot. The current market is a seller’s market.
The highest percentage increase was in Little River, where real estate values increased 34.7%. Loris and Longs saw an increase of 34.5%. North Myrtle Beach home values increased 31.3%.
These increases continue a trend.
From 2018 to 2019, the CCAR report showed Myrtle Beach Real Estate values increasing as much as 31% as well. It is important to note that the 2019 Fall quarter showed home value increases were disproportionate across the area. Homes in Pawleys Island, Murrells Inlet, and Carolina Forest showed rapid increases. While home values in other areas only changed slightly.
In 2020 and 2021, the Covid pandemic in Northern urban cities sent many homeowners migrating to the greater Myrtle Beach DMA.
The city of Myrtle Beach continues to lag behind its neighbors. However, a recent launch by the Myrtle Beach Area Chamber called Partnership Grand Strand claims to be working on the issue moving forward.