Published By: Beckham Realty Group, Inc. April 30, 2019
Are you looking for the most recent data for home values and prices for homes in the Grand Strand Myrtle Beach area? Here’s a snapshot of Zillow’s most recent home value and rental market data through March, 2019. The data includes primary areas of the Grand Strand from Myrtle Beach to Pawleys Island, as well as Conway to the west and Murrells Inlet in between.
Myrtle Beach SC Homes for Sale
Median Home Value – The home values in Myrtle Beach are currently averaging $150,500, which is up 6.2% over the last year. Myrtle Beach home values are forecasted to increase another 3.3% over the next year. The average listing price per square foot was $173.
Home Listing Price – The average listing price for a Myrtle Beach home was at $195,000 over the past year.
Rent- The median price for a Myrtle Beach rental is at $1,200, year to date.
Full Myrtle Beach Home Market Snapshot:
Median Home Value – The median home value in Conway is set at $157,200 with values up 5.1% year to date. Home values are expected to rise another 2.1% in the next year. The average listing per square foot for a Conway home was $100 which is lower than the Myrtle Beach metro area.
Home Listing Price – The average listing price for a home in Conway is currently at $194,400.
Rent- The median price for a Conway rental is at $1,295, year to date.
Full Conway Home Market Snapshot:
Median Home Value – The Murrells Inlet Median Home Value is at $228,300, above the average for the Myrtle Beach metro area. Values have increased 3.2% over the last year and are expected to increase another 1.5% over the course of the following year. The median price per square foot for a Murrells Inlet home is $139.
Home Listing Price – The average listing price for a home in Murrells Inlet is currently at $275,130.
Rent- The median price for a Murrells Inlet rental is at $1,300 year to date.
Full Murrells Inlet Home Market Snapshot:
Median Home Value- The average home value for the past 12 months in Pawleys Island was at $293,900, the highest in the Myrtle Beach area. This is also the largest value increase over the past year, set at 8.7% and are expected to rise another 2.2% over the next year. The median price per square foot was $165, just a little higher than the Georgetown Metro area.
Home Listing Price – The average home listing price for a Pawleys Island home is currently at $341,646.
Rent- The last recorded median price for a Pawleys Island rental was at $1,939, year to date.
Full Pawleys Island Home Market Snapshot:
One thing we can definitely tell is that the cost of renting on the Grand Strand is much higher than the what you can assume an average monthly mortgage would be in the area. With home prices in Myrtle Beach lower than the national average, and rents remaining higher, its certainly a better decision to buy instead of rent in Myrtle Beach. If relocating to the Grand Strand in 2019 is on your agenda, you can rest assured that whatever you buy this year is likely to increase in value over the next year.
For an even greater analysis of market data comparing The Myrtle Beach Metro Market to the rest of the national averages, view Zillow’s latest Market Overview through March 2020 here: