Real estate prices, sales rise in August in Myrtle Beach area

Published: September 21, 2012 

Real estate prices jumped in August along the coast at a higher percentage rate than they did statewide, according to data from the South Carolina Realtors association.

The median price of homes and condos sold in Horry, Georgetown and southern Brunswick County, N.C., jumped 8.3 percent, to $147,250, in August compared to the same month last year, according to SCR. Statewide, the median price jumped 4 percent, to $155,000 in August compared to the same month in 2011.

It is “very encouraging” that the area’s prices are going up, said Tom Maeser, a real estate analyst with the Coastal Carolinas Association of Realtors.

“Either the prices are starting to come up in spotted areas, not all over, but some areas are starting to see increases, or low-end foreclosure [properties] are being purchased and inventory is drying up, which pushes consumers into higher prices because the lower prices are not there,” Maeser said.

Real estate sales also jumped in August along the coast for at least the fourth consecutive month.

The number of homes and condos sold in Horry, Georgetown and southern Brunswick County, N.C., rose 12.1 percent, to 761, in August compared to the same month last year, according to SCR.

“When you start to see an increase in prices, you usually see an increase in sales because people that were waiting are buying now,” Maeser said.

Beaufort had the biggest increase in sales, jumping 27.8 percent, to 101homes, condos and villas sold, in August compared to the same month last year, according to SCR. Greenwood jumped 26 percent in sales in August, the Greater Columbia jumped 22.4 percent and the Piedmont Regional jumped 19.1 percent, according to the association.

Statewide, sales increased 11.5 percent, to 5,099 homes, condos and villas sold in August compared to the same month in 2011, according to SCR.

Contact JANELLE FROST at 443-2404.

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