The prices in real estate in North Myrtle Beach, in the South Carolina region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in North Myrtle Beach has increased strongly during the last 6 months. In April, the average price per sq.feet was $165. In the following month the price per sq.feet increased to $174. In the following two months the price per sq.feet has barely changed, going from $169.5 to $167 per sq.feet. The price per sq.feet has had a considerable increase of 164 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $168.25 to $276.5 during August, and September.
Based upon to the price in North Myrtle Beach (cities), these have remained the same in the last 6 months. In our first sample month during April, the average price is $325,316. In May This price remains at $327,280. In the following two months the average price has remained the same with regard to the previous two months from $326,298 to $316,208.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 93 %, going from $321,253.25 to $299,627.5 in August and September.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of $300,514 they are 17 % more affordable than the average price for North Myrtle Beach. The properties with the highest average price have 4 bedrooms, Their price is 21 % more costly than the average. After that we have properties with 1 bedroom priced at $324,374.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $152 / sq.feet, with an average $384 / sq.feet price in North Myrtle Beach. The properties with the lowest average prices have 2 bedrooms. They are 54 % cheaper than the average followed by properties with 3 bedrooms with a price at $171 / sq.feet.
The graph displaying the average prices displays the property type "Condo" as the most affordable one. At an cost of $300,514 it is 15 % cheaper than the average price in North Myrtle Beach. "Detached House" is seen as the second most affordable property type. The dearest property type is "House" followed by "Commercial". At a price of $276,008 it is 10 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Detached House" at an average cost of $136 / sq.feet followed by "Commercial" priced at $154 / sq.feet. "Condo" is the cheapest type of property with a $173 / sq.feet value followed by "House" with an average price of $160 / sq.feet.