It’s a Seller’s Market on Daniel Island, Baby!
For those of us who have been involved in Charleston’s real estate market for decades, there’s a common theme of conversation. We’ve never seen anything quite like this! And when we ask our counterparts around the country, they’ve never seen anything like it either.
It is an incredible time to be a homeowner. Those of us who have been here since the early years of Daniel Island are really noticing the acceleration in growth. It’s exciting to see the number of homes under construction and, with the limited amount of inventory on the market, home equity is rising faster than ever.
Sales within Daniel Island have reached historic levels. The closed transactions for 2021 for the first half of the year stand at $264,404,433 and 259 transactions. According to the MLS Market Monitor, this is a 69% increase in sales volume year over year! As you can see in our 2020 Recap, 2021 is setting up to shatter all records.
Property values are also rising exponentially. The median home closing value for 2020 was $1,099,414, while the current median for closed homes is $1,444,833. This demonstrates a sizeable 31% increase year over year.
Limited inventories of existing properties for sale and an extensive pool of potential buyers waiting in the wings have driven values to new heights in virtually every segment. As of this writing, there are only twenty homes on the market in all of Daniel Island ranging from $920,000 to $6,925,000.
It has never been a better time to be a seller. If you are considering selling, please give us a call for a complimentary assessment of the value of your land or home. Island Park Properties continues to be at the top of the market for sales of properties within our community.