Keeping you current on real estate information, including home and condo sales, and market trends on Folly Beach, SC. 2 properties sold on Folly Beach in October 2011, bringing the total year-to-date sales to 77. This was a weak sign and one of the lowest total sales months of the year. Our chances of hitting the magic number of 100 sales for the year is dwindling. 100 sales is a decent year of sales, with slightly over 100 being normal. So we are facing a below average year of sales activity. The 2011 year to date average sales price on Folly Beach is $427,000. There have been only 10 sales above $600,000 and 2 above $1 million. These are favorable signs if you are trying to purchase on Folly Beach, low prices, and sellers fighting for your business, creates a perfect buyers market.
The two sales in October give an interesting viewpoint of how to market your home in today’s market. A home on Folly was on the market for 214 days before selling, originally listed for $650,000, then lowered to $550,000, then selling after a couple of months for $468,000, 85% of list price. The other sale was listed at $395,000 and sold in 4 days for full price. Pricing in this market is everything.
That is why it is important to talk to a professional Folly Beach real estate adviser before buying or selling. Prices are low and the time to buy is now, click here to get started.