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Myrtle Beach area sees record-high home sale prices, report says

Sale prices for Grand Strand area homes are at record highs.
Sale prices for Grand Strand area homes are at record highs.
Published: Jul. 16, 2021 at 1:51 PM EDT
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MYRTLE BEACH, S.C. (WMBF) – Realtors said they aren’t surprised that sales of single-family homes in the Grand Strand and surrounding areas are at a record high.

According to the June 2021 market report from the Coastal Carolina Association of REALTORS, since May, the median home sale price exceeded $350,000. That represents a 24% increase from 2020 and the largest year-over-year increase since 1999, realtors said.

Other factors contributing to the all-time high spike are low interest rates, multiple offers on homes, days on market decrease by 21.3% and limited home inventory, with a 72.1% decrease, according to the CCAR.

“The monthly market report numbers have proven, once again, that the Myrtle Beach area is one of the most desirable places to live in the country,” Laura Crowther, CEO of CCAR, said. “And, with school still out for the summer and an increase of people flocking from large cities, it’s no wonder our housing market is in high demand.”

Recently, U.S. News & World Report ranked Myrtle Beach No. 1 on its list of the fastest-growing places in the United States for 2021-22.

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