Is Isle of Palms, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Isle of Palms is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Isle of Palms has remained a Seller's Market.

Key Takeaway

Isle of Palms is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Isle of Palms, SC

How much do homes in Isle of Palms, SC cost?

Median Sold Price

$1,600,000

$807/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$100,000(+6.7%)

Key Takeaway

Homes in Isle of Palms have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in Isle of Palms was $1,600,000 in March 2024, up 6.7% from last year, and the median price per square foot was $807.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $548.7K$470K
-14.4%
2 $792K$810K
+2.3%
3 $1.4M$1.3M
-10.3%
4 $2.0M$1.9M
-2.5%
5+ $3.4M$3.1M
-9.2%

Summary: Isle of Palms housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.4%, 2 bedroom homes increased by 2.3%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes decreased by 9.2%.

Median Sold Price Compared To Nearby Cities

Isle of Palms
+6.7%
Sullivan's Island
-39.3%

Housing Supply in Isle of Palms, SC

How many homes are available in Isle of Palms, SC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
96116+20.8%

Summary: The Isle of Palms real estate market had 116 homes for sale in March 2024, a 20.8% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 47
+75.0%
2 1920
+5.3%
3 2129
+38.1%
4 2327
+17.4%
5+ 2933
+13.8%

Summary: The Isle of Palms housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 75%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 38.1%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes increased by 13.8%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
1221+75.0%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Isle of Palms, you may be able to get a good deal. 90.5% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in Isle of Palms in March 2024, up by 75.0% month-over-month. Of the 21 sold homes, 90% were sold under asking, 5% were sold at asking, and 5% were sold over asking.

Days on Market for Isle of Palms, 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 24 Days Ago

Newest Listings in Isle of Palms, SC

Nearby Markets to Isle of Palms, SC

What housing markets are near Isle of Palms, SC?