Folly Beach Real Estate Sales – January-August 2004 Thru 2009 as Compared to Isle of Palms, Sullivan’s Island, Kiawah and Seabrook Islands
Folly Beach South Carolina is located just outside historic Charleston. There are 5 primary beach communities that surround the Charleston area: Folly Beach, Isle of Palms, Sullivan’s Island, Kiawah Island and Seabrook Island. Folly Beach, Isle of Palms and Sullivan’s Island are the 3 communities which are located closest to the city of Charleston.
Folly Beach
2004 –110 sales – $53,173,650 - Median Price $415,000 - Average Price $483,396– SP/LP 97.61%
2005 –117 sales – $70,246,741 - Median Price $500,000 - Average Price $600,399– SP/LP 94.64%
2006 –85 sales – $58,164,500 - Median Price $600,000 - Average Price $684,288– SP/LP 95.09%
2007 –68 sales – $42,697,460 - Median Price $592,500 - Average Price $627,903– SP/LP 94.43%
2008 –55 sales – $28,772,619 - Median Price $413,000 - Average Price $523,138– SP/LP 94.82%
2009 – 34 sales - $14,482,400 - Median Price $400,000 - Average Price $425,952– SP/LP 86.58%
Isle of Palms
2004 –136 sales – $102,027,728 - Median Price $622,000 - Average Price $750,203– SP/LP 94.21%
2005 –155 sales – $145,136,480 - Median Price $670,000 - Average Price $936,364– SP/LP 97.23%
2006 –100 sales – $120,641,860 - Median Price $992,500 - Average Price $1,206,418– SP/LP 94.70%
2007 –66 sales – $91,852,750 - Median Price $1,150,000 - Average Price $1,391,708– SP/LP 93.71%
2008 – 24 sales – $29,285,399 - Median Price $883,250– Average Price $1,220.224 – SP/LP 90.64%
2009 – 46 Sales - $49,473,319 – Median Price $787,500 – Average Price $1,075,506 – SP/LP 92.06 %
Sullivan’s Island
2004 –31 sales – $41,399,380 - Median Price $1,210,000 - Average Price $1,335,463– SP/LP 95.59%
2005 –32 sales – $43,828,375 - Median Price $1,250,000 - Average Price $1,369,636– SP/LP 95.34%
2006 –38 sales – $79,396,750 - Median Price $2,045,000 - Average Price $2,089,388– SP/LP 93.54%
2007 –16 sales – $41,396,000 - Median Price $2,762,500 - Average Price $2,587,250– SP/LP 91.41%
2008 – 10 Sales - $16,156,625 – Median Price $1,437,062 – Average Price $1,615,662 – SP/LP 91.56%
2009 – 16 Sales - $22,453,200 – Median Price $1,126,600 – Average Price $1,403,325 – SP/LP 82.46%
Kiawah and Seabrook
2004 –223 sales – $98,677,895 - Median Price $340,000 - Average Price $442,501– SP/LP 93.14%
2005 –268 sales – $164,334,540 - Median Price $450,000 - Average Price $613,188– SP/LP 96.46%
2006 –195 sales – $143,252,493 - Median Price $580,000 - Average Price $734,628– SP/LP 95.18%
2007 –96 sales – $80,088,650 - Median Price $669,500 - Average Price $834,256– SP/LP 94.69%
2008 – 85 Sales – $69,684,240 – Median Price $700,000 – Average Price $819,814 – SP/LP 91.48%
2009 – 60 Sales - $32,720,207 – Median Price $437,000 – Average Price $545,336 – SP/LP 89.82%
2009 vs 2008 statistics that stand out are the increase in # of sales at Isle of Palms and Sullivan’s Island, a significant drop in average and median prices at Sullivan’s Island and Kiawah / Seabrook, the low SP/LP of 82.46% at Sullivan’s Island and an increase in the average sold prices on Johns Island. The best deals are on Folly Beach as prices have fallen below the prices of 2004.
For more information on Folly Beach, just contact Randy Winks or Ronnie Winks or check out www.randyandronnie.com or www.follybeachrealestateexperts.com.
Additional Information:
James Island
2004 –709 sales – $149,588,446 - Median Price $177,500 - Average Price $210,985– SP/LP 91.65%
2005 –988 sales – $212,693,719 - Median Price $181,900 - Average Price $215,277– SP/LP 98.07%
2006 –838 sales – $221,452,346 - Median Price $229,000 - Average Price $264,262– SP/LP 97.28%
2007 –522 sales – $168,226,098 - Median Price $262,000 - Average Price $311,323– SP/LP 96.22%
2008 – 331 Sales – $92,897,402 – Median Price $250,000 – Average Price $280,656 – SP/LP 93.71%
2009 – 276 Sales - $66,886,816 – Median Price $216,500 – Average Price $242,343– SP/LP 95.71%
Johns Island
2004 –178 sales – $43,342,853 - Median Price $203,405 - Average Price $243,499– SP/LP 97.47%
2005 –173 sales – $54,650.869 - Median Price $230,000 - Average Price $315,900– SP/LP 97.60%
2006 –202 sales – $74,873,221 - Median Price $248,050 - Average Price $370,659– SP/LP 99.14%
2007 –194 sales – $54,976,884 - Median Price $220,000 - Average Price $283,386– SP/LP 95.65%
2008 – 144 Sales – $39,320,802 – Median Price $215,000 – Average Price $273,061 – SP/LP 96.94%
2009 – 98 Sales - $27,276,728 – Median Price $219,000 – Average Price $278,333– SP/LP 93.84%
Great Deals At The Great Beaches Of Charleston SC
The Charleston SC area offers several great beach communities. They are Folly Beach, Isle of Palms, Sullivan’s Island, Kiawah and Seabrook Islands. These beach communities are being compared based on the average price per square foot of beach properties sold for the period of January 1st – July 31st for each year 2006 – 2009. The comparisons made below indicate that the current Charleston beach real estate market does offer great deals. Consider buying now while there is a wonderful selection of beach property inventory available !
Kiawah & Seabrook Islands
2006
$506
$684
$917
$372
2007
$517
$579
$691
$433
2008
$369
$471
$627
$418
2009
$333
$432
$568
$323
-35.59%
-36.84%
-38.06%
-25.40%
Folly Beach Real Estate Sales – March, April and May 2008 and 2009 as Compared to Isle of Palms, Sullivan’s Island, Kiawah and Seabrook Islands
2008 – 22 sales – $12,322,050 - Median Price $413,000 - Average Price $560,093– SP/LP 95.93%
2009 – 11 sales - $4,897,500 - Median Price $435,000 - Average Price $445,227– SP/LP 92.31%
2008 – 8 sales – $10,937,000 - Median Price $871,000– Average Price $1,367,125 – SP/LP 93.77%
2009 – 14 Sales - $17,990,000 – Median Price $887,500 – Average Price $1,285,000 – SP/LP 92.90 %
2008 – 4 Sales - $7,530,000 – Median Price $1,887,500 – Average Price $1,882,500 – SP/LP 91.46%
2009 – 6 Sales - $8,951,200 – Median Price $1,351,600 – Average Price $1,491,866 – SP/LP 78.43%
2008 – 36 Sales – $26,946,740 – Median Price $757,500 – Average Price $748,520 – SP/LP 90.76%
2009 – 23 Sales - $10,211,425 – Median Price $400,000 – Average Price $443,975 – SP/LP 86.76%
Statistics that stand out are the increase in # of sales at Isle of Palms and Sullivan’s Island, significant drop in average and median prices at Sullivan’s Island and Kiawah / Seabrook, and the low SP/LP of 78.43% at Sullivan’s Island.
Folly Beach Festivals and Fun at “The Edge of America”
Folly Beach continues the festivals and fun this Saturday, April 18, 2009 with the annual Sea and Sand Festival with events taking place up and down Center Street as well as in the park. There will be events for all ages, everything from a climbing wall to great food and beverages to musical entertainment.
The Sea and Sand Festival will feature entertainment from the Shakin’ Martinis, the Mason Dixon Band and later at the Holiday Inn, The Landsharks will perform (A Jimmy Buffett Tribute Band). There will be live and silent auction items, arts and crafts and most of all lots of fun. There is even a 5 K run / walk at 8 am. The festival runs from 10 am to 5pm. The weather outlook is sunny and in the 70’s, just “Another Beautiful Day at Folly Beach !
To keep abreast of Folly Beach Festivals and activities check out our website www.randyandronnie.com or www.follybeachrealestateexperts.com . Folly Beach SC is located just outside historic Charleston South Carolina. (04/16/2009)
NCAA March Madness - Folly Beach South Carolina
It is hard to focus on Folly Beach Real Estate sales with the “Big Dance” underway. The amount of excitement created by March Madness only compares to Christmas morning when I was a kid. The “Big Dance” may be even better than Christmas day as it lasts longer (21 days)! I highly commend www.ncaa.com for offering March Madness on Demand so I can watch any of the 63 tournament games on my computer, WOW! I have picked 7 1st round upsets (bracket busters) and can hardly wait to see how they play out. To make matters worse the weather is beautiful and sunny outside and my wife can’t believe I will not leave my lounge chair to enjoy life and the beautiful weather. She does not understand that “March Madness” is Life! Well the next game is ready to start, so I need to go. Remember Folly Beach SC offers a beautiful beach area to live or have a second home. If you are interested in Folly Beach Real Estate please contact Randy Winks or Ronnie Winks or check out www.follybeachrealestateexperts.com.
Folly Beach continues the festivals and fun with upcoming events scheduled for March. Saturday March 14th will be the annual St. Patrick’s Day Festival at Folly Beach. The activities will take place from 12am – 6pm up and down Center Street where you can enjoy a pub crawl featuring Irish foods, green beer and music. Open containers will be permitted outside the restaurants and bars on Center Street during the festival.
The Folly Beach Arts and Crafts Guild will celebrate the arrival of spring with the annual “Tides of March” Festival. The times for the event are Saturday March 21st (10am – 5pm) and Sunday March 22nd (1pm – 5pm) at the Folly River Park. The festivities include the display and sale of local arts and crafts as well as performances and musical entertainment.
To keep abreast of Folly Beach Festivals and activities check out our website www.randyandronnie.com or www.follybeachrealestateexperts.com . Folly Beach SC is located just outside historic Charleston South Carolina.
James Island Real Estate Sales –February 2009
During February 2009 there was 12 real estate transactions which totaled $3,506,364 compared to 31 transactions in February 2008 which totaled $11,122,025. In February 2009 the average sold price was $292,167 down from the average sold price of $358,775 in 2008. The February 2009 median price was $232,500 as compared to $288,000 in 2008. The February average sold DOM for 2009 was 141 compared to 129 average sold DOM for February 2008. For information on properties contact Randy Winks or Ronnie Winks or check our web site(s) www.randyandronnie.com or www.follybeachrealestateexperts.com . James Island is located just outside of historic downtown Charleston, South Carolina.
Folly Beach Real Estate Sales - February 2009 as Compared to Isle of Palms, Sullivan’s Island, Kiawah and Seabrook Islands
Folly Beach – 2 sales – 98 DOM - $575,000 Median Price - $575,000 Average Price
Isle of Palms – 3 sales – 20 DOM - $985,000 Median Price - $948,333 Average Price
Sullivan’s Island – 0 sales
Kiawah and Seabrook – 1 sale – 234 DOM - $920,000 Median Price - $920,000 Average Price
Sales continue to be slow for these beach communities with a total of 6 sales compared to a total of 21 sales in February 2008 and 17 sales in February 2007. During these last 3 periods, Folly Beach real estate still offers the best value for beach real estate buyers.
For more information on Folly Beach, just contact Randy Winks or Ronnie Winks or check out www.follybeachrealestateexperts.com.
Folly Beach Festivals and Fun – The Edge of America – Folly Gras
On February 21st Folly Beach added a new festival to their list of community festivals, Folly Gras! Folly Gras took place right downtown on Center Street. Center Street was blocked off to through traffic so the local Folly restaurants could show off their unique offerings of Mardi Gras cuisine. The Cajun selections that we tried were quite good and spicy. A variety of frozen beverages were available as well. There were a couple different bands playing on the streets including the Shakin’ Martinis. A large portion of the crowd was in costumes and displaying their “Beads” proudly! The activities culminated with a short parade in the Mardi Gras style, which will surely grow for next year. The festivities ended way too soon for most of the festival goers. Looking forward to Folly Gras 2010 !!! To keep abreast of Folly Beach Festivals and activities check out our website www.randyandronnie.com .
Why You Should Consider Charleston South Carolina When Relocating
Charleston is so much more than just a beautiful historic city. Charleston was ranked #10 by the Milken Institute in their article entitled “Best-Performing Cities 2008: Where America's Jobs Are Created and Sustained”. Charleston made the list in the National Geographic article entitled “50 Best Places To Live: The Next Great Adventure Town”. The Charleston South Carolina Metro area made the list in the article from Forbes magazine, “America’s 25 Strongest Housing Markets”. As you can see from the above articles, if you are considering relocating, check out Charleston and its surrounding beach communities. Also Charleston is the #2 ranked vacation destination just behind New York City from a poll conducted by Condé Nast Traveler magazine. If you have any questions concerning real estate in the Charleston metro area feel free to contact us Randy Winks or Ronnie Winks or you may visit our website www.randyandronnie.com .
Folly Beach Festivals and Fun – “The Edge of America” - Folly Beach South Carolina
Folly Beach is a quaint little beach community located just outside historic downtown Charleston, South Carolina. The Folly Beach full time resident population is about 2500, but on a hot sunny summer day you will find over 20,000+ on the little island. Folly is less than a mile wide and about 6 ½ miles long. If you are looking for something fun to do, you should always check the Folly calendar of events. Folly Beach has a myriad of festivals and parades throughout the year. These festivals are usually held on Center Street right in the middle of downtown. Recently on Jan. 24th “The Taste of Folly” festival was held. It highlighted the local cuisine of the Folly Restaurants. Upcoming is the Folly Gras Parade (Mardi Gras garb is required!) on Feb. 21st, the bridge onto the island will close at 2 PM similar to the Christmas parade. The point is, there is always something going on at Folly. The Folly community does a great job of keeping life at the beach fun !!! You can find links to Folly Beach activities at www.randyandronnie.com .
Folly Beach Real Estate Sales - January 2009 as Compared to Isle of Palms, Sullivan’s Island, Kiawah and Seabrook Islands
Folly Beach – 1 sale – 74 DOM - $370,000 Median Price - $370,000 Average Price
Isle of Palms – 3 sales – 174 DOM - $1,550,000 Median Price - $1,753,333 Average Price
Kiawah and Seabrook – 4 sales – 151 DOM - $795,000 Median Price - $716,000 Average Price
Sales continue to be slow for these beach communities with a total of 8 sales compared to a total of 19 sales in January 2008 and 29 sales in January 2007. During these last 3 periods, Folly Beach real estate still offers the best value for beach real estate buyers.
James Island Real Estate Sales –January 2009
During January 2009 there was 16 real estate transactions which totaled $4,752,016 compared to 27 transactions in January 2008 which totaled $7,981,416. In January 2009 the average sold price was $297,001 up from the average sold price of $295,608 in January 2008. The median price was $284,950 in January 2009 as compared to $255,500 in January 2008. The DOM for January 2009 was 115 compared to 121 DOM for January 2008. For information on properties contact Randy Winks or Ronnie Winks or check our website www.randyandronnie.com. James Island is located just outside of historic downtown Charleston, South Carolina.
Folly Beach Real Estate Offers the Best Value for Beach Property in Charleston South Carolina
These are the 2008 Median Home Price statistics for all five communities:
Folly Beach - $480,000
Isle of Palms - $825,000
Sullivan’s Island - $1,437,500
Kiawah & Seabrook - $697,500
Based on these recent 2008 statistics, it is quite apparent that beach property at Folly Beach, South Carolina is a tremendous value compared to the other beach communities that surround the Charleston area.
For more information on Folly Beach, just check out www.follybeachrealestateexperts.com .
Folly Beach Real Estate Sales – December 2008
During December 2008 there was 1 real estate transaction of $594,000 compared to 8 transactions in December 2007 which totaled $3,906,025. This is more than an 85% drop in sales volume from 2007. The 2007 transactions sold at 96.5% of list price and the 2008 transaction sold at 99% of list price. With the limited number of sales in this current market, there is an excellent inventory of houses available for the savvy home buyer to purchase at an excellent price with great interest rates. This is the perfect time to buy a principal residence, vacation home or an investment property with maximum savings ! For information on properties go to www.follybeachrealestateexperts.com . Folly Beach is located just outside of historic downtown Charleston, South Carolina.
Folly Beach Real Estate Sales Comparison 2005 - 2008
In 2005 there were 188 properties sold at an average price of $628,642. The average sold DOM was 84.
In 2006 there were 109 properties sold at an average price of $708,618. The average sold DOM was 92.
In 2007 there were 95 properties sold at an average price of $668,898. The average sold DOM was 133.
In 2008 there were 72 properties sold at an average price of $590,149. The average sold DOM was 175.
Based on the above statistics the average sold property price in 2008 was down 16.7% from the peak average sold price in 2006. The number of properties sold in 2008 was down 161.1% from the peak number sold in 2005. The average sold DOM in 2008 has increased by 91 days as compared to 2005.
James Island Real Estate Sales Comparison 2005 - 2008
In 2005 there were 1323 properties sold at an average price of $229,299. The average sold DOM was 36.
In 2006 there were 1088 properties sold at an average price of $271,412. The average sold DOM was 49.
In 2007 there were 699 properties sold at an average price of $308,213. The average sold DOM was 100.
In 2008 there were 458 properties sold at an average price of $279,987. The average sold DOM was 104.
Based on the above statistics the average sold property price in 2008 was down 9.2% from the peak average sold price in 2007. The number of properties sold in 2008 was down 189% from the peak number sold in 2005. The average sold DOM in 2008 has increased by 68 days as compared to 2005. James Island is located just outside historic downtown Charleston, South Carolina.
Folly Beach South Carolina Is a Great Beach Destination
Folly Beach is a great beach destination for vacations, a second home or a permanent residence. Folly Beach SC is located just 10 minutes outside historical downtown Charleston. Charleston is currently the 2nd most preferred vacation destination city in the United States. The Folly Beach and Charleston area can satisfy the taste of even the most discerning consumer. It is a quaint community with a big city atmosphere. The restaurants are superb, the shopping diverse, the people excellent.
My wife, Veronica and I are great advocates of Folly Beach and the Charleston area ( www.randyandronnie.com ). We sold our vacation home in Destin, Florida in 2005 after that area became too congested. We started looking for a new beach area that met with our strict list of needs. We were looking for a sleepy little beach town that comes to life just in the summer, beautiful beaches but not over-crowded, easily accessible by major highways, close to a major city with historical significance, close to shopping and restaurants, warm climate with mild winters, beautiful sunrises and sunsets, and the list goes on. After thorough research and visiting various beach communities, Folly Beach had the most appeal. In the summer of 2005 we bought a vacation home at Folly Beach.
Over the next 2 years we continued to visit our new vacation home more and more frequently. Veronica and I had fallen in love with the quaint little island. For more information about the Folly Beach area check out our web-site www.follybeachrealestateinfo.com . We encountered a small but good problem with our vacation home, it was renting so much that we were unable to use it. So we made a major life changing decision, we bought a 2nd property at Folly Beach. Veronica and I left our jobs and lives in Ohio and made our move to “The Edge of America”. We have become real estate agents with Exit Realty – The Tracey Group specializing in beach property at Folly Beach. The quality of life here at Folly is wonderful. We are living proof that is never too late to make a lifestyle change.
Keep Folly Beach, South Carolina in mind for your next vacation or move!
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