Home sales and prices on the rise in Myrtle Beach - WMBFNews.com, Myrtle Beach/Florence SC, Weather

Home sales and prices on the rise in Myrtle Beach

"As we build, typically we have a buyer who's willing to go to contract before the home even finishes in most cases, versus a period when it's slower and the home may sit," said Lennar Myrtle Beach Sales Agent Bob Peiffer. "As we build, typically we have a buyer who's willing to go to contract before the home even finishes in most cases, versus a period when it's slower and the home may sit," said Lennar Myrtle Beach Sales Agent Bob Peiffer.
MYRTLE BEACH, SC (WMBF) - The building boom in Myrtle Beach is showing no signs of slowing down, and neither are the prices of homes across the Grand Strand.

Spring is typically one of the best times of the year to search for a new home. Local sales agents with Lennar Homes say you should buy now because given the current real estate climate, prices are only going to continue to rise as we head into summer.

For example, a home that was priced at $200,000 before Thanksgiving, will likely cost you about $10,000 more right now. Representatives with the South Carolina Real Estate Network say some builders are asking as much as $30,000 more. That's a 15 percent jump in 6 months.

One reason is a rise in land costs. Another is a rise in building costs. The cost for materials like lumber, concrete and workers has gone up more than 5 percent, according to Lennar sales agents.

"The price increase have gone up and in the past 6 months," said homebuyer Tracy Stout. "I'm very happy that when the contract, when they finally released this, we signed it because they've gone up a lot more since then."

Stout had her name on the first lot in Monarch at Emmens Preserve, well before it was built.

"We wanted to move, get away from the taxes in New Jersey and the winters and were not that old yet, we have a ways to retire, but we wanted to look and find a new neighborhood so I have been up and down the East Coast," Stout said.

Sales agents say buyers like Tracy are typical of what we're seeing these days in Myrtle Beach: northerners coming here in droves to purchase second, or retirement homes. What that means for locals is fewer choices and higher prices.

"As we build, typically we have a buyer who's willing to go to contract before the home even finishes in most cases, versus a period when it's slower and the home may sit," said Lennar Myrtle Beach Sales Agent Bob Peiffer.

Representatives with the South Carolina Real Estate Network said in the last few months they're noticing more spec homes are being sold and more pre-sales. Since December, the city has handed out 145 new home building permits, and there are more plans in the works.


"We are still building, we still have more land we are developing and building more single families on," said Peiffer.

Thursday, representatives from at least three home building companies will be at the planning commission meeting to look at proposals to build more homes. Between the three, Lennar, KH Withers and Beazer, we're looking at more than 250 new homes. These proposals include expansion of existing neighborhoods in the Market Common area like Emmens Preserve and Cresswind.

A Lennar sales agent said there's raw land they are looking to build up in the coming years. Sales agents said they constantly have to be thinking about the next step, because the past two years especially, this has been such a hot, fast growing market and they expect that trend to grow.

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