Is Isle of Palms, SC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Isle of Palms was a Seller's Market.
Key Takeaway
Isle of Palms is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Isle of Palms, SC
How much do homes in Isle of Palms, SC cost?
Median Sold Price
$1,685,000
$830/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Isle of Palms have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Isle of Palms was $1,685,000 in June 2024, up 16.5% from last year, and the median price per square foot was $830.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $541.2K | $505K | -6.7% |
| 2 Bedrooms | $770K | $854K | +10.9% |
| 3 Bedrooms | $1.3M | $1.3M | -3.5% |
| 4 Bedrooms | $1.8M | $2.0M | +5.8% |
| 5+ Bedrooms | $3.5M | $3.0M | -15.2% |
Summary: Isle of Palms housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.7%, 2 bedroom homes increased by 10.9%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes decreased by 15.2%.
Median Sold Price Compared To Nearby Cities
| Isle of Palms | $1.4M | $1.6M | +16.5% |
| Sullivan's Island | $4.5M | $2.8M | -37.2% |
Housing Supply in Isle of Palms, SC
How many homes are available in Isle of Palms, SC?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 110 | 115 | +4.5% |
Summary: The Isle of Palms real estate market had 115 homes for sale in June 2024, a 4.5% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 11 | +57.1% |
| 2 Bedrooms | 16 | 18 | +12.5% |
| 3 Bedrooms | 20 | 21 | +5.0% |
| 4 Bedrooms | 33 | 33 | 0.0% |
| 5+ Bedrooms | 34 | 32 | -5.9% |
Summary: The Isle of Palms housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 57.1%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 5%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 5.9%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 22 | 15 | -31.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Isle of Palms, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Isle of Palms in June 2024, down by 31.8% month-over-month. Of the 15 sold homes, 80% were sold under asking, 13% were sold at asking, and 7% 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
