Is Folly Beach, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Folly Beach is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Folly Beach was a Neutral Market.

Key Takeaway

Folly Beach is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Folly Beach, SC

How much do homes in Folly Beach, SC cost?

Median Sold Price

$1,037,500

$562/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$12,500(-1.2%)

Key Takeaway

Homes in Folly Beach have sold for 1.2% less than they did a year ago.

Summary: The median home sold price in Folly Beach was $1,037,500 in March 2024, down 1.2% from last year, and the median price per square foot was $562.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $462.5K$295K
-36.2%
2 $500K$610K
+22.0%
3 $989.8K$1.0M
+1.0%
4 $1.9M$1.2M
-38.1%
5+ $2.8M$2.9M
+7.0%

Summary: Folly Beach housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.2%, 2 bedroom homes increased by 22%, 3 bedroom homes increased by 1%, 4 bedroom homes decreased by 38.1%, and 5+ bedroom homes increased by 7%.

Median Sold Price Compared To Nearby Cities

Charleston
+9.4%
Johns Island
+6.6%
James Island
+3.8%
Folly Beach
-1.2%

Housing Supply in Folly Beach, SC

How many homes are available in Folly Beach, SC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
5365+22.6%

Summary: The Folly Beach real estate market had 65 homes for sale in March 2024, a 22.6% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 11
0.0%
2 1315
+15.4%
3 2126
+23.8%
4 1115
+36.4%
5+ 78
+14.3%

Summary: The Folly Beach housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes increased by 14.3%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
41-75.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Folly Beach, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Folly Beach in March 2024, down by 75.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Folly Beach, SC

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 22 Days Ago

Newest Listings in Folly Beach, SC

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