The prices in real estate in North Myrtle Beach, in the South Carolina region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in North Myrtle Beach has had a strong decrease during the last 6 months. In November, the average price per sq.feet was $1,166. In the following month the price per sq.feet decreased considerably to $178. The price for the following two months in (January, February) had a considerable decrease of 26 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 53 % 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 $425 to $223.5 during March, and April.
Based upon to the price in North Myrtle Beach (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is $429,642. During December the price went through a considerable rise reaching $563,740. During the following two months (January, February) the average price had a considerable increase of 116 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has gone up 107 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $565,935 they are 78 % more affordable than the average price for North Myrtle Beach. The properties with the lowest average price have 4 bedrooms, Their price is 11 % cheaper than the average. After that we have properties with 3 bedrooms priced at $324,030.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $89 / sq.feet, with an average $234 / sq.feet price in North Myrtle Beach. The properties with the highest average prices have 4 bedrooms. They are 1535 % more expensive than the average followed by properties with 3 bedrooms with a price at $1,769 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $565,935 it is 73 % cheaper than the average price in North Myrtle Beach. "Condo" is seen as the second most affordable property type. The cheapest type property is "House" followed by "Commercial". At a price of $455,416 it is 15 % more affordable than the average price.
According to the average cost per sq.feet, the cheapest property type is "Condo" at an average cost of $42 / sq.feet followed by "Detached House" priced at $117 / sq.feet. "Commercial" is the most costly type of property with a $3,977 / sq.feet cost followed by "Land" with an average price of $1,821 / sq.feet.