MYRTLE BEACH, SC (WBTW) – Home sales rose nearly 15.7% last year in Myrtle Beach, according to a report by Site Tech Systems.
John Kistler moved into his new home a month ago and already he’s seen growth.
“They’ve built two on that side, two behind me and two over there,” said Kistler of his expanding neighborhood.
Watermark Real Estate Broker Radha Herring says property taxes are much lower in South Carolina compared to northern states, and interest rates are steady.
“Coming out of the foreclosure years, there’s a lot of consumer confidence,” she stated.
Herring says it’s a great time for homeowners looking to sell.
“We’re seeing lots of listings that are getting contracts within three, four or five days of listing, and we’re seeing many of those go equal or above asking price,” explained Herring.
Five years ago, the median value of a home in Myrtle Beach was about $190,000. It’s now $202,000 to $203,000, according to Herring. The real estate broker says she’s seeing a lot of new homes pop up in the market, but re-sales are also doing well.
For Kistler, new was the way to go, and he plans on living in Myrtle Beach for the rest of his life.
“There’s no painting, there’s no carpet re-work, you just move right on in. We’ll be down here for quite a while, until I go horizontal I guess,” he laughed.
The same report from Site Tech Systems shows sales were up 12% for the entire Coastal Carolina region, which realtors hope will carry over into 2016.