Monday, December 31, 2007
Myrtle Beach Real Estate Sales Statistics
Taken from the NAR 3rd quarter results, November 2007.
According to the SC Board of Realtors, here are the latest figures from sales of Myrtle Beach real estate, including the area of Little River to Georgetown, SC.
The first quarter of 2006 produced 2785 sales of homes and oceanfront condos. The same in 2007 was 1904. Sales were down 31.63%.
The second quarter of 2006 had sales of homes in Myrtle Beach at 3319. The same this year was 2737. Sales were down 28.50%.
Third quarter home sales in the beach area resulted in 2611 sales. 2007 had 1912. Sales were down 26.77%.
In actual numbers of sales of Myrtle Beach area real estate, October 06 produced 814 sales, as compared to October 07 and 649 sales. Down 20.27%.
The same in November resulted in 758 in 2006 to 546 in 2007, down 27.97%.
For the year, numbers of homes and condo sales in Myrtle Beach were at 10287 in 2006 to 7384 in 2007. Total reduction of 28.22%.
Prices for the two year comparison dropped 5.67%.
What you have to consider is that in 2005, SALES skyrocketed and prices went up as much as 200%. When you add that into the equation, the sales and the price reductions in Myrtle Beach property are of very little consequence.