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 February, the average price per sq.feet was $249. In the following month the price per sq.feet increased to $282. In the following two months the price per sq.feet has increased 106 %, going from $265.5 to $282.5 per sq.feet. The price per sq.feet has increased 108 % 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 $274 to $295.5 during June, and July.
Based upon to the price in North Myrtle Beach (cities), this has gone up in the last 6 months. The average price during our first sample month during February, is $438,130. During March the price went through a considerable rise reaching $529,006. During the following two months (April, May) the average price fell 93 % with regard to the previous two months. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of $466,973.25 and $476,274 between June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $454,412 they are 46 % more affordable than the average price for North Myrtle Beach. The properties with the highest average price have 4 bedrooms, Their price is 45 % more costly than the average. After that we have properties with 3 bedrooms priced at $461,802.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of $265 / sq.feet, with an average $293 / sq.feet price in North Myrtle Beach. The properties with the highest average prices have 1 bedroom. They are 31 % more expensive than the average followed by properties with 2 bedrooms with a price at $287 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $454,412 it is 67 % 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 $448,625 it is 5 % 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 $102 / sq.feet followed by "Townhouse" priced at $129 / sq.feet. "Commercial" is the most costly type of property with a $3,917 / sq.feet cost followed by "Land" with an average price of $1,791 / sq.feet.