There are more than 100 homes for sale in the Myrtle Beach area for more than $1M

Despite higher borrowing costs and fluctuating mortgage rates that may be keeping some home buyers out of the market, the Grand Strand’s slate of high-end properties are piling up.

More than 100 homes with asking prices of at least $1 million are on the market between Conway, Horry County, Myrtle Beach and North Myrtle Beach according to real estate brokerage Redfin.

By comparison, Redfin lists 11 homes for sale in Columbia with starting prices of $1 million, while Charleston has 113.

The local slate includes elegant Golden Mile homes with master balconies and enclosed courtyards to houses still under construction — like a $4.6 million home along N. Ocean Boulevard with an open concept kitchen and elevated pool.

Brent Zajac of Realty One Group Dockside said several factors are playing into the region’s million-dollar plus inventory.

‘Myrtle Beach, being the destination that it is, we have a lot of folks that are coming from the Northeast. Imagine selling a multi-million dollar brownstone in New York, and now you’re coming down here and you know, probably still putting some money in your pocket,” said Zajac, who’s also a partner agent for Redfin.

Over the last week, 30-year mortgages climbed to 7.12 percent — the highest average since 2002 and a contributor to more expensive closings.

“The shortage of homes for sale has kept prices high for remaining buyers...,” the Coastal Carolina Association of Realtors said in its June market report. ”As demand continues to outpace supply, properties are selling quickly, with the majority of homes listed for sale on the market for less than a month.”

The housing pipeline in Horry County is robust. By 2030, Carolina Forest, with its 61 subdivisions, could be home to almost 60,000 people.

And a Fort Mill-based development team hopes Conway will approve the largest project in its modern history, bringing 3,330 homes and nearly 1.4 million square feet of commercial space to 1,700 acres of forestland.

“Real estate is a better investment than some of the other financial institutions like crypto or even the (stock) market,” Zajac said. “Real estate has always been and always will be a safer bet across time, and that’s one of the reasons homes at that (million dollar) level are still selling today.”