Myrtle Beach, SC New Construction Homes for Sale | realtor.com® (2024)

FAQs

Are real estate prices dropping in Myrtle Beach? ›

Myrtle Beach, SC housing market FAQs

Median home prices are down 5.5% since February 2023 but they're up 43.9% in the past 3 years.

So why is this famous beach community so affordable? Because the city has a dark side as well. The violent crime rate in Myrtle Beach is more than four times the national average, according to the most recent FBI data. That's brought home prices down.

There are currently 33,819 homes for sale in South Carolina. The median list price in South Carolina is $360,000 and the average price per square foot is $188.

#1: Red Hill. With a median home sale price of $252,228, Red Hill takes the number one spot on our list of affordable Myrtle Beach suburbs. About a 20-minute drive away from downtown Myrtle Beach, Red Hill is home to roughly 15,900 residents.

The Myrtle Beach area is home to many expensive homes. Houses sell for millions of dollars, and while there are expensive homes across the Grand Strand, the Grande Dunes area is home to some of the most pricey abodes.

While Myrtle Beach is generally a safe and popular vacation destination, there are a few areas that visitors may want to avoid staying at. These include the areas around Ocean Boulevard and 5th Avenue North, which have a higher crime rate and are known for rowdy crowds and late-night partying.

Which is more affordable: Myrtle Beach or Hilton Head Island? Shifting our focus to the financial aspect, Myrtle Beach clearly stands out as the more budget-friendly choice. The median home price in Myrtle Beach is half of that in Hilton Head!

The southern end of Myrtle Beach is best for active vacationers because the large hotels with waterparks and nearby retail stores and chain restaurants are lively hangouts, but for more relaxation, head north to enjoy local shops and restaurants, plus hotels with low-key but fun amenities and laid-back beaches.

For the ultimate in affordability, look no further than Myrtle Beach, the least expensive beach town in South Carolina. With a median home price of $305,000 and an average rent of $1,599, Myrtle Beach offers unbeatable value for those dreaming of coastal living.

How much do you need to make to live comfortably in Myrtle Beach? ›

In the Myrtle Beach metro area, which includes Myrtle Beach, Conway, and North Myrtle Beach, a single person with no children who works full-time (2,080 hours per year) needs to make $15.13 per hour, or $31,470 per year before taxes.

The cost of living in Myrtle Beach, SC is -11.1% lower than in Sarasota, FL. You would have to earn a salary of $53,350 to maintain your current standard of living.

So, How Much to Build a House in South Carolina? On average, building a home in this state can cost anywhere from $100 to $200 per square foot. This means that a 2,000 square foot home could cost anywhere between $200,000 to $400,000.

Skip construction and move into a home in SC – your wallet will thank you! Homeowners spend $451,840 in total to build a house in the Palmetto State, which is $81,040 more than the median sale price. Expensive labor, supply chain issues, and a rise in material costs can further increase your expenses.

The Myrtle Beach area real estate market in 2024 is looking to speed up after a slowdown in 2023. Homes stayed on the market longer than in previous years as the pace of buying property in the Myrtle Beach area has slowed due to national factors.

Decreased Home Prices

As of November 2023, South Carolina's median home price is down by 7.1% at $360,800 from the national average price of $387,600.

Myrtle Beach, SC, Summary

There are 3687 active home listings and 248 new homes for sale in Myrtle Beach, SC. Homes in Myrtle Beach, SC were selling for a median price of $328,070 in March 2024. On average, homes in Myrtle Beach, SC sell after 67 days on the market compared to 73 days last year.

How hot is the Myrtle Beach housing market? Myrtle Beach is not very competitive. Homes sell in 100.5 days. The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.