On April 15th 2011, there are 5020 residential homes for sale in the Myrtle Beach Metro Area (Listed in MLS). Out of those 5020 homes for sale, 198 have the stipulation of sale being a foreclosure. That leaves Myrtle Beach, SC foreclosures at only 4% for residential homes. There are 4540 condos/townhouses for sale (listed in MLS) in the Myrtle Beach Area. Out of those 4540, there are only 119 foreclosures which leaves the foreclosure rate at only 2.6%. Before we jump to conclusions about the foreclosure phase being gone, out of the 5020 residential houses for sale, 386 are listed as potential or lender approved short sales (7.6%). Out of the 4540 condos/townhouses for sale, 437 are listed as short sales (9.6%). To conclude, foreclosures may be going down in numbers, but short sales are still very common and popular.