It’s a wrap! Isle of Palms, Sullivan’s Island & Wild Dunes Half-year Closing Report

Posted on July 2, 2013 by Donnie Whitaker

ImageHow’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

Sullivan’s Island

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

Wild Dunes

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.

Posted in Isle of Palms Market Update, Sullivan's Island Market Update, Uncategorized | Tagged , , , | Leave a comment

The Charleston Coast and Hurricanes

Posted on June 6, 2013 by Donnie Whitaker

I am often asked by out-of-town visitors and potential home buyers about hurricanes and how often they hit the Charleston Coast.  This is a fair question since we are on the coast and do share a hockey team with our northern neighboring state named the Carolina Hurricanes. There is also the memory of Hurricane Hugo and it’s devastation to the area 24 years ago. Yes, hurricanes do roll through the low country on occasion, but let’s look at the facts.

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Hurricane Hugo – 1989

Since 1900, there have only been 3 major hurricanes. They are Hurricane Hugo (1989), Hurricane Gracie (1959), and Hurricane Hazel (1954).  For a hurricane to be major it has to be a 3, 4 , or 5 on the Saffir-Simpson scale (see below).  Hurricane Hugo was considered the most devastating of the three,  closing island’s down such as the Isle of Palms by flattening everything in it’s path.  Island residents were unable to get to their homes and some snuck in by boat to get belongings.  Studies show on average that a hurricane will hit the South Carolina coast once every 7 years, and a major hurricane every 25 years.

saffir-simpson

So, where do they go?  Well, as I said before, they do come here on occasion. But studies  show that South Carolina is not considered to be one of the more hurricane prone areas and it’s coastal regions less likely to receive the brunt of a hurricane.  Typically, we find when hurricanes develop off the Caribbean Coast and move north,  they bend either north-east toward the Outer Banks area, head straight at Florida, or take a turn toward the Central Gulf Coast. Doing some research I found this report listing the 10 worst spots for hurricanes (South Carolina did not make the list).

Hopefully this will give you a little piece of mind when considering moving to or buying a vacation home in the Charleston area or anywhere else on the South Carolina Coast.

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Oceanfront Living on the Isle of Palms

Posted on May 31, 2013 by Donnie Whitaker

ImageWhen considering buying oceanfront property on the Isle of Palms there are choices.  Where do you want to be?  I like to think of the Isle of Palms oceanfront as 5 main areas.  You have Ocean Blvd, Palm Blvd, 42nd Ave through 57th Ave., and then the oceanfront homes located in Wild Dunes on Beachwood East, Dunescrest Lane, and Ocean Point.

Ocean Blvd. is known as millionaires row and found on the most southern end of the Isle of Palms.  This section of the Isle of Palms shares the street with front beach that includes the long time popular bar and music venue the Wind Jammer. As you head south down Ocean Blvd and get away from front beach you will find beautiful homes sitting on lots ranging from half and acre up to an acre and a half.  Prices vary depending on the size of the homes, age of the home and also size of the lot. The largest lots (1.5 acres) sit toward the end of Ocean Blvd, but some stay away from this end due to it’s proximity to Breach Inlet and heavy currents. However, if you are looking for a killer view, it will be found.

Ocean Boulevard Oceanfront Listings

1307141 – Details: 116 OCEAN BLVD, ISLE OF PALMS, SC – $2,995,000
1312226 – Details: 502 OCEAN BLVD, ISLE OF PALMS, SC – $2,995,000
2906137 – Details: 620 OCEAN BLVD, ISLE OF PALMS, SC – $2,999,000
1312279 – Details: 604 OCEAN BLVD, ISLE OF PALMS, SC – $3,495,000
1310312 – Details: 914 OCEAN BLVD, ISLE OF PALMS, SC – $3,800,000
1101621 – Details: 810 OCEAN BLVD, ISLE OF PALMS, SC – $3,949,000
1312240 – Details: 110 OCEAN BLVD, ISLE OF PALMS, SC – $3,995,000
1312561 – Details: 118 OCEAN BLVD, ISLE OF PALMS, SC – $4,250,000
1212102 – Details: 202 OCEAN BLVD, ISLE OF PALMS, SC – $4,500,000
1305355 – Details: 114 OCEAN BLVD, ISLE OF PALMS, SC – $4,900,000

Palm Blvd. is found to the left of Ocean Blvd or Isle of Palms Connector.  Palm Blvd. is a very popular area for tourist, vacationers, and home buyers. Although there is more traffic on Palm Blvd. than it’s next door neighbor Ocean Blvd., many people like it’s proximity to Wild Dunes and the Isle of Palms Marina.  The homes on Palm Blvd. sit further back than those on Ocean because of deed restricted lots given to each owner sometime back.   Some of the lots are the size of a football field and great for practicing your golf swing as well as providing great, expansive, ocean views from your back deck.

Large Oceanfront Lot on Palm Blvd

Palm Blvd Oceanfront Listings

1226252 – Details: 4006 PALM BLVD, ISLE OF PALMS, SC – $1,659,900
1227363 – Details: 2610 PALM BLVD, ISLE OF PALMS, SC – $2,375,000
1009454 – Details: 2106 PALM BLVD., ISLE OF PALMS, SC – $2,800,000
1102193 – Details: 2106 PALM BLVD., ISLE OF PALMS, SC – $2,800,000
1312185 – Details: 2708 PALM BLVD, ISLE OF PALMS, SC – $3,490,000

On the northern part of Palm Blvd you will find the quiet cul-de-sac streets running from 42nd Ave. to 57th Ave.  These streets are desirable because there is no through traffic. Now, not every home on 42nd to 57th is oceanfront, but the homes at the end of the street are. The most traffic you will find here is pedestrians walking from their home to get to the public beach access found at the end of each street. However, it is so little that it’s hardly noticeable. One other thing to note is that some of these homes although not inside of the gates, are part of Wild Dunes which allows Wild Dunes member privileges without the requirement of having to pay an HOA fee or any regimes fees.

42nd – 57th Ave Oceanfront Listings

1228063 – Details: 1 50TH AVE, ISLE OF PALMS, SC – $3,200,000
1309231 – Details: 2 52ND AVE, ISLE OF PALMS, SC – $3,985,000

Once you are inside the gates you will find Beachwood East and Dunecrest Ln.  These streets run oceanfront and consist of a total of 19 oceanfront lots.  Both streets are quiet and located inside of the gates of Wild Dunes.  Owners here are in walking or biking distance to many of the amenities in Wild Dunes like the Harbor Course Pro Shop and award winning tennis center.  As an owner you would be required to pay an annual HOA fee to the community association.

Beachwood East and Dunescrest Lane Oceanfront Listings

1125264 – Details: 14 BEACHWOOD E, ISLE OF PALMS, SC – $1,750,000

ocean point

Golf Course & Ocean View from Ocean Point Home

Ocean Point is located at the very northern tip of Wild Dunes Resort.  Ocean Point is a gated community inside of Wild Dunes where oceanfront owners enjoy scenic views of the 17th and 18th holes of the Links Golf course and Atlantic Ocean. Owners in Ocean Point have access to a neighborhood pool and are in walking distance to the Links Course Clubhouse.

Ocean Point Oceanfront Listings

1303189 – Details: 42 OCEAN POINT, ISLE OF PALMS, SC – $1,299,000
1301370 – Details: 58 OCEAN POINT, ISLE OF PALMS, SC – $2,995,000
1306988 – Details: 54 OCEAN POINT, ISLE OF PALMS, SC – $4,400,000

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Farewell Red and White Grocery – See you soon Newton Farms

Posted on April 29, 2013 by Donnie Whitaker

The commercial district on the Isle of Palms is getting a face lift.  The most notable of this lift includes the demolition of the more than half-century old Red & White Grocery store, which has been welcoming bare footed shoppers for years.  The Red & White was your typical locally owned rusty, sandy, grocery store where boogie boards and sand toys were more common than organic vegetables and fine wines.

RedandWhite

Red and White Grocery Demolished

newton farms

Newton Farms on the Isle of Palms

While change has come with controversy from long time Isle of Palms residents, many will agree that it was only a matter of time and consistent with the changing demographics of the Isle of Palms.  You see, we are in a time of fancy.  People want nice, luxury, vacation homes.  People want the trendy organic food, craft beer (Miller who?), foreign cheese, health written all over it grocery stores. Just ask Whole Foods.

I will admit, I am actually excited about the new grocery store that will be known as Newton Farms.  Don’t get me wrong, the Red & White served some killer fried chicken, dogs, and sides, and all for under $5 bucks.  But hey, now I can get a turkey wrap stuffed with goat cheese, lettuce, tomato, and organic farm grown bacon and 6 pack of my favorite craft brew.

 

Read the latest:  Newton Farms on the Isle of Palms to be a Harris Teeter?

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And this is why I never want to leave Charleston SC!

Posted on April 24, 2013 by Donnie Whitaker

This is a great video of the holy city of Charleston. You can see why this low country city gets in your blood.

Posted in Charleston, Charleston Cuisine and Food, Charleston Home Sales, Charleston in the News, Uncategorized | Tagged , , | 1 Comment