Home construction surges in Myrtle Beach, Horry County
Sat, 14 Dec 2013 00:44:22 GMT —
The residential real estate market in Myrtle Beach is showing no signs of slowing down, with single-family homes as one of the top sellers.
According to real estate developers, The Market Common and surrounding neighborhoods off Farrow Parkway in Myrtle Beach have seen a surge in the demand for single-family homes.
"We are averaging just over six sells a month. Currently, we have over 23 homes under construction and 39 homes in our backlog. Which means the houses that you see under construction are all sold and will by occupied by homeowners," according to David Wilkes, an operating officer at Dock Street Communities in Myrtle Beach.
Wilkes said in order to slow down demand, his company has raised the prices of these single-family homes by 10 to 12 percent, and on average, they run around $290,000, but they're still selling well.
This is all just part of a bigger picture happening citywide in Myrtle Beach.
According to Myrtle Beach Spokesman Mark Kruea, the number of residential building permits issued per month is also up.
"We are averaging about one permit per day. One single residential building permit per day at this point. That's up about 12 percent over last year," he said.
Kruea also said there are 170 homes under construction throughout the city at this time.
Ultimately, Myrtle Beach isn't the only area seeing a single-family housing boom.
Horry County has also seen an increase in the number of building permits issued over the past year.
According to Horry County Spokesperson Lisa Bourcier, the numbers of residential building permits issued throughout the county were up by more than 50 percent over the previous fiscal year.