MYRTLE BEACH, SC (WMBF) – The Myrtle Beach real estate market continues to flourish at record-breaking levels.
The May 2021 real estate market report released by Coastal Carolinas Association of REALTORS shows closing sales on single-family homes increased by 52.3% compared to May of last year.
This is despite a 17% increase in the average sale price of a single-family home, as well as a 67% drop in housing inventory from last year.
Jason Potter, who owns Grand Strand Coastal Realty, said he initially thought the COVID-19 pandemic would have the opposite effect on home buying in slowing down the real estate market.
Instead, they’re now seeing people other than retirees relocate to the Grand Strand. People who were, at first, undecided are closing on homes.
Then, there are those looking to trade the city for the beach.
“That’s really what we saw was happening with COVID. People wanted…