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Real estate prices slightly increased, sales jumped in July in Myrtle Beach area

By Janelle Frost –

MYRTLE BEACH — Grand Strand real estate prices slightly jumped in July, an indication that prices are starting to stabilize, according to local Realtors.

The median price – the price at which half sold for more and half sold for less – of a single-family home was $164,000 in July, up 1 percent from the same month last year, according to the Multiple Listing Service.

The slight increase in price could be because a lot more new houses are being built, and they typically have a higher price than resells, said Tom Maeser, a real estate analyst for the Coastal Carolinas Association of Realtors.