As of 3/7/2013….
The Sullivan’s Island and Isle of Palms markets continue to improve, and
2012 had a few record sales numbers. On Sullivan’s Island, 801 Star of the West
sold for $3,750,000, and the house was torn down within a week. Because the
house was immediately removed from the property, that sales price represents the
lot value, and that was higher than any other SI lot sale by almost $1MM. Shortly
after that closing, 951 Middle St. sold for $5,000,000, and that set the bar for the
highest priced house to ever sell on Sullivan’s Island. Not bad for a market
considered by some to still be in a recession.
Also, while there have been 10 closings on Sullivan’s Island properties in
2013, there are 17 others under contract! Out of those 17 properties, 15 of them
went under contract this year! At that rate, if all of the under contract properties
close as planned, there are less than 6 months worth of inventory on the island,
which is a dramatic decrease from recent years. That means that so far in 2013,
every 3 days a property has either sold or gone under contract on SI! Wow!
On the Isle of Palms, there were also some record sales in 2012. I sold the
incredible, beachfront house at 300 Ocean Blvd. for $4,800,000 which set the bar
for the highest priced property to ever sell on that street, and it was also the highest
closing price the island had seen in almost 6 years. Less than 2 months after
closing 300 Ocean Blvd., another property sold for the same price at 4002 Palm
Blvd. matching the highest sales price on Isle of Palms in more than half of a
decade. Again, not bad for a market in which most of the country is still trudging
through some very sluggish times.
There have been 14 closings on the Isle of Palms (outside of Wild Dunes) this
year so far, but there are 27 properties under contract, and 22 of those properties
went under contract in 2013! If all of these properties close, the inventory, in
theory, could be gobbled up in less than 6 months as well.
Inside the gates of Wild Dunes, there was also a new high-price benchmark
set in 2012. I closed 55 Ocean Pt. just before the end of the year for $3,079,000,
and this was the highest closing price in Wild Dunes in over 2 years! There have
been 16 closings so far in 2013 in Wild Dunes, and there are another 28 under
contract! With 209 properties on the market in Wild Dunes, the current inventory
should last around 12 months, although these numbers are a little bit misleading
to the owners of single family detached homes, because there are a large number
of fractional interests being offered for sale. This is still a huge improvement over
recent years in Wild Dunes, and the market is getting much stronger inside the
gates. I think all of these numbers above just go to show that the Charleston area
islands are still one of the most desirable places to own property in the entire
eastern seaboard, and it’s only getting more desirable.
CHECK OUT WHAT YOUR NEIGHBORS ARE SAYING ABOUT ME ON ZILLOW.COM!
“Moving to Sullivan’s Island was our family’s dream, and Ashley Haynes
helped make it come true. We turned to Ashley because he is the local expert on
island real estate. He was proactive, finding us several homes to view and
consider within our price range. Ashley always responded to our questions and
emails promptly. Working with him has been a pleasure. We couldn’t be happier
and we love our new home.”
“I have dealt with many agents over the years, and Ashley Haynes is the most
knowledgeable agent I have dealt with. He has everything ready to go on closing
day, and he has the delicate skills necessary for negotiations. I’ve purchased more
than 8 million using Ashley and sold more than 11 million using him.”
“Nobody knows the Island real estate market like Ashley Haynes does, and he
knew something personally about or had been in/shown nearly every house on the
island. His knowledge was instrumental in our buying process, he was patient,
responsive to our needs and there was never any doubt that he was on our side and
not just trying to get a deal done. In the 6 months after we bought our Sullivan’s
Island home, I referred 2 friends to Ashley and they now own on the islands. Can’t
recommend him highly enough.”
“Ashley demonstrated depth of knowledge about the local market, exhibited
the utmost in professionalism and was critical in the success of our purchase. He
is a skilled negotiator and consummate professional who people should turn to to
get their deal done!”
If you are interested in hearing more about my sales and/or rental programs,
or if you just want to know the current value of your house for sale or for rent,
please give me a call at 843-813-6079 or email at email@example.com
with no obligation at all.