Explore the dynamic real estate market of Folly Beach, a picturesque barrier island off South Carolina's coast. This analysis compares recent sales data with historical trends from 2008, offering insights into the evolving property landscape and highlighting the island's attractions.
Folly Beach, affectionately known as the "Edge of America," combines natural beauty with historical significance. Just fifteen minutes from downtown Charleston, it is bordered by the Folly River and the Atlantic Ocean. The island is renowned for its breathtaking sunrises and sunsets, with the sun rising over the beach and setting over the river.
Folly Beach offers a variety of attractions that enhance its appeal as a residential and tourist destination:
To understand the real estate trends on Folly Beach, we've compared property sales from May 23 to November 21 in 2009 with the same period in 2008. Here's a breakdown of the sales by price range:
| Price Range | # Units Sold in 2008 | # Units Sold in Recent Six Months |
|---|---|---|
| $160,000 - $280,000 | 0 | 2 |
| $280,000 - $300,000 | 0 | 8 |
| $300,000 - $400,000 | 5 | 3 |
| $400,000 - $500,000 | 6 | 6 |
| $500,000 - $800,000 | 11 | 5 |
| $800,000 - $1,000,000 | 2 | 0 |
| $1,100,000 - $1,400,000 | 3 | 3 |
The average sold price per unit from May 23 to November 21 in the recent six months was $458,000, a significant decrease from the 2008 average of $836,269 during the same timeframe.
The data indicates a shift in the real estate market, with more properties sold in the lower to mid-price ranges in the recent six months compared to 2008. This could suggest a more accessible market for a broader range of buyers. The absence of sales in the $800,000 to $1,000,000 range in the recent period also points to changing buyer preferences or economic factors influencing the luxury market segment.
Folly Beach remains a charming and vibrant community with a real estate market that has evolved over the years. While the average sold price has decreased since 2008, the market shows signs of activity in diverse price ranges, making it an interesting time for potential buyers and investors.
For more detailed information on Folly Beach and its real estate market, visit the Folly Beach official website and explore current listings and market trends.
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