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Myrtle Beach Area Real Estate Sales Are Hot With Home Values Up 19%

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David Huckshttps://myrtlebeachsc.com
David Hucks is a 12th generation descendant of the area we now call Myrtle Beach, S.C. David attended Coastal Carolina University and like most of his family, has never left the area. David is the lead journalist at MyrtleBeachSC.com

With the shutdowns in New York and other major Northeastern cities last year, many residents decided to leave high population centers moving south.

The Grand Strand continues to be among one of the key places chosen for relocation.

Real Estate taxes are a fraction of what it costs to live in New York. In 2020, South Carolina was ranked 7th lowest in the country for real estate property taxes.

SUPER HOT MARKET

The decrease in the housing supply coupled with an increase in the demand for homes means that the prices of homes increased by 19 percent from this time last year.

“New construction lumber costs have increased,” said Myrtle Beach Realtor Annie Williams. “A lot of builders are absorbing price increases and they have to pass that along to their buyers.”

A new report from real estate website Redfin says 36% of homes nationwide sold above asking price in February 2021.

That’s the highest percentage ever recorded.

“Any time I’ve put in an offer recently on single-family homes, it seems like you’ve had multiple offers within 12 to 24 hours,” said Devon Woodard with Beach Realty Group. “You’ve had three to four other offers you’re going to compete with.”

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