5 properties sold on Folly Beach in February 2012, bringing the total to 10 for 2012. The median price year-to-date is $397,500. This compares to 16 sold for a median price of $392,500 for the same time period in 2011. The highest priced property sold so far this year is $512,000, where 2011 had already sold 4 over $500,000. There are 23 properties under contract currently, so I expect the closings to pick up steam in the near future. There are 3 listings in the million dollar plus price range under contract, so that would be big news. I feel prices beginning to stabilize and some of the less expensive property is being removed from the market.
To hear more details about what is selling on Folly Beach contact me here.
Some of the sales in February included a Mariner’s Cay condominium for $375,000, a 2nd row duplex with ocean access for $425,000, and a Shadow Race home for $512,000. The property on Shadow Race was a foreclosure, bought at the courthouse steps. I have found clients property through the county foreclosure sales, contact me for more information. If you are interested in buying on Folly Beach, there could not be a better time. Prices are still low and interest rates have nowhere to go but up.
Work with a Folly Beach professional real estate agent.