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 January 2022

At the same time last year, Folly Beach was a Seller's Market.

Key Takeaway

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

How much do homes in Folly Beach, SC cost?

Median Sold Price

$1,150,000

$677/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$200,000(+21.1%)

Key Takeaway

Homes in Folly Beach have sold for 21.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $475K$475K
0.0%
2 $475K$1.0M
+128.7%
3 $949K$1.0M
+10.6%
4 $1.3M$1.9M
+40.2%
5+ $1.6M$2.6M
+68.3%

Median Sold Price Compared To Nearby Cities

Johns Island
+24.9%
James Island
+22.7%
Folly Beach
+21.1%
Charleston
+13.8%

How many homes are available in Folly Beach, SC?

Number of Homes For Sale

Dec 2022Jan 2023%
3228-12.5%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 11
0.0%
2 54
-20.0%
3 1713
-23.5%
4 66
0.0%
5+ 34
+33.3%

Number of Homes Sold

Dec 2022Jan 2023%
83-62.5%

Asking Price vs. Sold Price

3 Homes Were 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.

Average Sale Time

Jan 2022Jan 2023%
30 Days33 Days+11.0%

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Folly Beach has remained consistent over time.

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

About Folly Beach, SC

There are 28 homes are for sale in Folly Beach, SC real estate market. Between December 2022 and January 2023, Folly Beach, SC real estate market has seen decrease in the number of listings by 12.5%. While the average time on the market in January 2023 was 33 days, the median list price was $1,150,000. Real estate listing prices changed between December 2022 and January 2023: prices of 1 bedroom properties remained the same, prices of 2 bedrooms properties went up by 128.7%, 3 bedrooms properties prices increased by 10.6%, 4 bedrooms properties prices increased by 40.2%, prices of 5 bedrooms properties went up by 68.3%. Housing inventory have changed in this real estate market: volume of 1 bedroom homes stayed the same, the quantity of 2 bedrooms homes went down by 20%, 3 bedrooms homes became 23.5% less available, volume of 4 bedrooms homes stayed the same, volume of 5 bedrooms homes went up by 33.3%. In January 2023 more than 0 listings in Folly Beach, SC were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 3 were sold below.

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