Real Estate information and home sales on Folly Beach, SC. 11 properties sold in the month of May 2012 on Folly Beach, bringing the total 2012 sales to 46. The average and median price were both $515,000 in May, up 16% from last year, showing a trend of higher priced homes trading hands. The 2012 year to date average price of homes and land sales is $425,000. The average for May 2011 was $442,250 and 2011 year to date through May was $396,920.
Some highlights of May sales were a half-lot and home for $325,000, a 4 bedroom Charleston Oceanfront Villa for $650,000 and and oceanfront lot for $695,000.
Folly Beach property is showing some signs of rising values, although number of sales are still slightly below normal, leaving the opportunity to take advantage of low prices. 12 months ago, there were many under-valued properties for sale, but it is getting harder to find. Homes in the $500,000’s and higher are moving again, (including 4 or 5 over $1 million) driving up the average price. If you are looking to make a move out to Folly Beach, the combination of low prices and low interest rates make this a great buying opportunity. Don’t let it pass you by.