When comparing North Myrtle Beach homes for Sale to Myrtle Beach homes for sale many look at the amount of condos vs. residential homes, foreclosures, short sales and average price. North Myrtle Beach accounts for 1,180 active condo/townhomes and 455 residential homes for sales. Myrtle Beach has 2,467 active condo/townhomes for sale and 1,690 residential homes on the market. The average price for a condo/townhome in North Myrtle is $261,771 and the average price for a residential home is $412,705 ranging from $24,900 to $2,795,000. The average condo/townhome in Myrtle Beach is $166,300 and the average residential house is $326,398 ranging from $16,750 to $6,490,000. North Myrtle may have less listing but the prices are above those in Myrtle. Out of all the condo/townhomes and residential listings in Myrtle Beach, only 4 % are foreclosures and in North Myrtle Beach, there are only 2.3% foreclosures.
There are 811 active foreclosures in Horry County. 77 of those are in North Myrtle Beach, 359 are in Myrtle Beach, 25 are in Surfside Beach, 5 in Garden City, and 55 in Murrells Inlet. North Myrtle Beach has in the past received a reputation to have a plentiful amount of foreclosures but as the market improves the foreclosure have dropped. North Myrtle only accounts for 9% of the foreclosures in Horry County compared to Myrtle Beach which accounts for 44%. Foreclosures are known to hurt neighborhood values and overall prices but the decrease in the amount of foreclosures in North Myrtle Beach is a positive signs for current or futures property owners!
As of August 10, 2010 there are 1,675 North Myrtle Beach homes for sale. Out of those 1,675 listings, 455 are residential houses, 1,181 are condos/townhomes, and 39 are multifamily. North Myrtle Beach is definitely more of a high-rise condo town compared to residential houses. Many have found great oceanfront condos for a fraction of the price that they used to be. One thing that hasn’t changed is the beautiful beach in North Myrtle and all the attractions. If anything North Myrtle is adding even more fun activities such as the brand new Pirates Voyage Fun, Feast and Adventure. North Myrtle might not have the brand name the Myrtle Beach has, but this growing town has become very popular and may sooner than later be just as popular as Myrtle.
Many get ready to book their August vacations and head to the beautiful paradise known as Myrtle Beach. Myrtle Beach, SC has been a vacation favorite for along time and is always ranked as one of the top beaches and vacation destinations. With the market prices low, many have considered to buy Real Estate in Myrtle Beach. Many have had the game plan of buying a vacation home, link up with a vacation rental program, and rent their new investment out for the summer months. The beauty of this is you can block off weeks for your own vacation and for friends and family. Many have their mortgage paid for just with rentals. Prices may be down but Myrtle is still booming with tourists and Myrtle Lovers.