Keeping you current on real estate information, including home and condo sales, and market trends on Folly Beach, SC. 5 properties sold in September 2011 bringing the year to date total to 73. The average sales price for September was $534,750, up from $493,500 in 2010. We are still on pace for 100 sales in 2011, which is a moderate year. Some examples of sales in September 2011:
A small 2nd row cottage sold for $350,200.
A 3 BR Little Oak Island condominium sold for $192,900.
An oceanfront home, which was foreclosed on and was nearly a tear down, sold for $735,000. It was a beautiful full lot, and this may be the new comparable price for oceanfront lots.
The 2011 year to date average sales price on Folly Beach is $431,000, down from $476,000. This is discouraging news to sellers, but if you are looking to buy, the timing is right. It seems like most of the purchases are occurring in the lower price range, only 2 houses have sold this year over $1 million and only 7 have sold above $650,000. If you have ever considered owning on Folly Beach, now is the time. There are still lower priced island homes available, and the premium property is priced lower than it has been in years.
There has been some foreclosure activity out here this year, and those properties tend to sell fast. If you are looking to purchase one of these great deals, you must be ready to act fast when they are listed. Having the help of a professional Folly Beach realtor will help you acheive your goal of owning on Folly. I can learn what you are looking for and contact you as soon as something comes on the market. Let’s get the ball rolling!