13 properties sold on Folly Beach in September 2014, bringing the total sold year to date to 96. Late summer lookers became more serious about owning on Folly and bought up properties. Buyers that come after the summer season are the ones who truly love living on Folly during the slower, cooler, months. More closings will follow as there are 28 properties currently under contract. That demand should sustain until about Thanksgiving when things slow down for the holiday season. Buyer activity is high and this is a good time to put your home on the market.
The average sale price on Folly Beach through September is $476,242, and the median price is $425,000. Prices have not yet begun to rise, but this should naturally follow since inventory is lower than in 2013, with very little for sale under $400,000 and quality homes beginning around $600,000. If you are looking to buy on Folly, now is the time to get in.
A few examples of sales in September are:
2 two bedroom condominiums across the Folly River sold around $230,000.
A home on Bowens Island with views and a dock sold for $690,000.
A luxury 3000 square foot condominium next to the Folly pier sold for $1 million.
The chart below breaks down the price ranges for properties sold on Folly through September 2014. Notice the majority are in the $400,000’s, and interestingly there have been many sales on the higher price ranges, 5 total over $1 million.