With the end of the first quarter of the year, let’s look at how homes sales shaped up on the following islands.

Isle of Palms

There were a total of 17 closed single-family homes sold on the Isle of Palms in the first 3 months of 2013, totaling $17,914,000 in volume. The median price per sale was $923,500 with an average price per square foot of $317. Owners received 91.42% of asking price.

This is a slight increase from the first quarter of 2012 where a total of 14 single-family homes sold for a total of $16,296,799.

Click Here to view Isle of Palms closed sales.

Sullivan’s Island

There were a total of 9 closed single-family homes sold on Sullivan’s Island in the first 3 months of 2013, totaling $13,230,316 in volume. The median price per sale was $1,380,000 with an average price per square foot of $472. Owners received 94.10% of asking price.

Just like in 2012, the total number of sold homes was 9. However, there was a slight decrease in the volume of homes sold but an increase in the median sale price.

Click Here to view Sullivan’s Island closed sales.

Wild Dunes

There were a total of 11 closed single-family homes sold in Wild Dunes in the first 3 months of 2013, totaling $8,551,000 in sales volume. The median price per sale was $664,000 with an average price per square foot of $322. Owners received 95.28% of asking price.

This is a slight increase from the first quarter of 2012 where a total of 10 homes sold. The median price per sale was higher in 2012 than that of 2013.

Click Here to view Wild Dunes closed sales.

In summary, I have to admit I was a bit surprised to see the numbers for the first quarter of 2013 similar to those of 2012 (could it be less inventory???).  I was expecting more of an increase.  With that being said, there is no doubt the real estate market is heating up, and my bet is it will show when I do my second quarter report.  Stay tuned!