How’s the market? Obviously some of the answer depends on area, property type and price range, but overall we can see an upward trend. Interest rates continue to remain low and asking prices are staying relatively idle. Buyers who were hesitant and watching the market have started to make their moves. The second home/vacation home market (which makes up much of this area) is generally a year behind the primary market. The Charleston area primary market is hot, and we see that as a good sign of things to come on our beaches. Let’s take a look at the numbers through the first half of the year, comparing 2013 to 2012 in the areas of Isle of Palms, Wild Dunes, and Sullivan’s Island.
Isle of Palms
A total of 41 single-family homes sold on the Isle of Palms in the first 6 months of 2013, totaling $42,514,199 in volume. The median price per sale was $800,000 with an average price per square foot of $326. Owners received on average 91.07% of asking price.
This is a slight increase from the first half of last year where a total of 35 single-family homes sold for a total of $40,533,779.
Click Here to view Isle of Palms closings
A total of 22 single-family homes sold on Sullivan’s Island in the first half of 2013, totaling $36,368,803. The median price per sale was $1,447,500 with an average price per square foot of $529. Owners received on average 93.54% of asking price.
This is an increase from the $30,447,900 of closed sales at this time last year with only one more home sold.
Click Here to view Sullivan’s Island closings
A total of 35 single-family homes sold in Wild Dunes in the first half of 2013, totaling $29,039,000 in sales volume. The median price per sale was $700,000 with an average price per square foot of $330. On average, owners received 91.74% of asking price.
This is an increase from this time last year where a total of 29 single-family homes has sold for a total sales volume of $28,991,800.
Click Here to go view Wild Dunes closings
Wild Dunes Condos
Year to date 29 condos have sold for a total of $15,191,900 in volume. The median price per sale is $489,000 which is higher than at this time in 2012. Statistics also show owners getting closer to asking price at 92.76% than in 2012 at 89.62%.
Click Here to view Wild Dunes closings
*Statistics are taken from CTARMLS and do not include FSBO.