MYRTLE BEACH, S.C. (WBTW) — New research out this week shows that homes in many counties across the country are becoming less affordable, including Horry County.
Data from the Coastal Carolinas Association of Realtors meanwhile shows that the average price of a single family home in Horry County was up nearly 30% in May over a year before.
“Instead of having two, three homes for one buyer, now we have 10 to 12 buyers for one home,” Alissa Lightman said. She’s a broker at Realty One Dockside and the Lightman Group in Myrtle Beach.
Lightman said it’s definitely a seller’s market as prices rise around the Grand Strand. She said that can lead to bidding wars and surprises for some buyers.
“They’re thinking, ‘Okay one to two months I’ll be able to find a home.’ And then they’re surprised they’re getting beat by some other cash buyer or high prices,” she said.
Lightman said she’s heard from many people coming from other states who want to move to South Carolina because of the lower cost of living and pleasant weather.
Mitch Dyer and his wife though are moving out. They’re moving back to North Carolina and were surprised how quickly they got bites on their Horry County home after putting it on the market a couple weeks ago.
“Three days later, more or less, under contract,” Dyer said. “It went quicker than what we thought. And folks if you put your house on the market have somewhere else to go, I’m telling you.”
He and his wife will have to stay in a camper for a little while until their new house is ready. Dyer called the search for a new home ‘miserable.’
“We put in a couple different offers on homes. Full asking price. And it went over our budget,” he said.