Are you interested in Folly Beach, SC oceanfront real estate, including homes, lots, and condos? Below is a market update to keep you current on what is happening here on the beach.
Number of oceanfront sales by year:
| Year | # home sales | # condo sales | Total Sales | Avg $ home | Avg $ condo |
| 2008 | 3 | 6 | 9 | 1,020,433 | 603,417 |
| 2009 | 4 | 3 | 7 | 973,250 | 703,333 |
| 2010 | 5 | 5 | 10 | 878,200 | $497,500 |
There have been more sales through 6 months of 2010, than 2008 or 2009.
Instant Analysis:
The results have been helped by lower prices. If you can afford a beach house, you buy one right?
In the recent past there were less buyers in the market which has caused prices to come down. But at some point it just seems worth it to purchase. We have seen cases where the price is so low that buyers who wanted it, grabbed it.
There have been opportunities to purchase that smart buyers have taken advantage of.
These people were already poised to make a move. They had previewed the market and knew what they were looking for because searching for an oceanfront home does take a little time. They also knew they had leverage as a buyer and worked with an experienced Folly Beach agent. Will you be ready when the next good opportunity comes around?
It is true that the good stuff has been purchased and right now there is less to choose from.
From recent showing activity, those opportunities may be passing us by. $1 million does not go as far as it recently did. This would be natural in a recovery, and could lead to higher housing prices. Do you want to take advantage while you can?
To find out more about buying a home or what your Folly Beach home is worth contact Vince Perna – Dunes Properties.