Murrells Inlet Home Sales Trends for October 2011

Murrells Inlet Home Sale Data October

With 44% of single family homes sold in the Georgetown County portions of Murrells Inlet in October being distressed sales it is no surprise that the average sale price of $333,978 is down 10% from the same month last year.  The median sale price for Murrells Inlet homes marks over a 13% decline over October 2010 and much of the loss in value appears to be coming from the decline in home sale prices for the Garden City Beach vacation homes.

Over the last year only 3 of the 108 single family homes sold surpassed the million dollar sale price mark while there were 8 sales over $1 million in the previous year with one Garden City Beach home selling at over $2 million dollars in April 2010.  A majority of Murrells Inlet homes sold over the last year were in the $200,000 to $300,000 dollar range with 47 sales marking a 36% increase over the previous year and home sales below $199k also increased over the period.

New construction appears to be picking up in Murrells Inlet with several new homes at Boat House Run new the new Jetty View Project and the first home is also being constructed at Flag Pointe on Murrells Inlet Creek in addition to home starts across from the bike path at the southern tip of Murrells Inlet.  No doubt Murrells Inlet is a great place to call home and will be home to many new residents in the coming year as these new construction homes close to Murrells Inlet Creek, Marshwalk, bike path and boat landing are certain to draw a crowd. Copyright©2011 Sandra Bundy, Broker-in-Charge, B&P, Inc.  Serving the Pee Dee and Grand Strand of South Carolina.

If you need assistance with buying a Murrells Inlet home or have questions about your home’s value contact Sandra Bundy @843-902-7615 for more information.