Murrells Inlet Home Sales Increase in July

The number of single family homes sold in Murrells Inlet have increased just over 28% when compared to July of 2010 and appears to support an increase in home sales in the Murrells Inlet area as has been the case in many local market areas.  The bad news is that the sale price of homes in Murrells Inlet have declined 17.4% over sale prices in July 2010 with the average sale price of $222,473 compared to $269,353 in July 2010.

The single family inventory has over 500 homes currently listed for sale at this time and marketing time remains high as a result of slowed demand for homes coupled with overpriced listings in some Murrells Inlet neighborhoods.  The REO inventory remains low in the area as does short sale activity which accounted for only 14.3% of sales in July.  There were 166 new listings in Murrells Inlet in the last 3 months and buyers have plenty of choices in the market area.

This is a broad overview of Murrells Inlet single family homes sales for the month of July 2011.  If you would like a more in depth analysis of what your home is worth in todays market please contact us for assistance. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.