Myrtle Beach homes projected to get even more expensive. Here’s what to expect

Home prices in the Myrtle Beach metropolitan area are forecasted to increase over the next year, according to a new study.

The Porch report projected that home prices will climb by over 14% in Myrtle Beach. Researchers for the study used information from Zillow, Redfin, and the Census Bureau’s 2019 American Community Survey.

Currently, the median home price for the area is $240,837. In contrast, the national median home price is $287,148.

“Over the past 18 months, home prices across the nation have shot up to levels unseen since the build-up to the 2008 financial crisis,” the study stated. “And still, national projections indicate a decisive upward trend over the course of the next year.”

Other South Carolina cities will also see an increase in home prices over the next year, the study found. Greenville will see rates grow by nearly 11% and Charleston will see a 17% hike.

This story was originally published August 24, 2021 at 2:14 PM.