Is Sullivan's Island, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sullivan's Island is a seller's market

Buyer's
Market

Difference Since March 2023

Since last year, Sullivan's Island has remained a Seller's Market.

Key Takeaway

Sullivan's Island is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Sullivan's Island, SC

How much do homes in Sullivan's Island, SC cost?

Median Sold Price

$2,900,000

$1,308/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$1,875,000(-39.3%)

Key Takeaway

Homes in Sullivan's Island have sold for 39.3% less than they did a year ago.

Summary: The median home sold price in Sullivan's Island was $2,900,000 in March 2024, down 39.3% from last year, and the median price per square foot was $1,308.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $647.5K-
N/A
2 $1.3M$2.4M
+78.4%
3 $2.7M$2.6M
-1.9%
4 $4.8M$3.9M
-20.0%
5+ $5.5M$4.7M
-14.5%

Summary: Sullivan's Island housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 78.4%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 14.5%.

Median Sold Price Compared To Nearby Cities

Mount Pleasant
+9.0%
Isle of Palms
+6.7%
Sullivan's Island
-39.3%

Housing Supply in Sullivan's Island, SC

How many homes are available in Sullivan's Island, SC?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1422+57.1%

Summary: The Sullivan's Island real estate market had 22 homes for sale in March 2024, a 57.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 01
+100.0%
2 11
0.0%
3 24
+100.0%
4 79
+28.6%
5+ 47
+75.0%

Summary: The Sullivan's Island housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
05+100.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sullivan's Island, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in Sullivan's Island in March 2024, up by 100.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.

Days on Market for Sullivan's Island, 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 20 Days Ago

Newest Listings in Sullivan's Island, SC

Nearby Markets to Sullivan's Island, SC

What housing markets are near Sullivan's Island, SC?