Everett Presson’s Real Estate Blog

2007 has been a year of some adjustment in the market. The numbers on Sullivans Island are particullarly interesting in that in this slow down in the market, the average sales price is up from last year. Also, there have been some new highs in sales on the front beach. There are currently 57 houses for sale ranging from a 644 square foot cottage being sold in a horizontal regime for $350,000 to a front beach house at 201 Atlantic Ave. for $5,499,000. So far this year, there have been 17 sales at a record-breaking average price of $ 2,502,706. In addition, there are another 3 houses and 2 of the condos in the Officers Quarters are under contract for a total of 21 for the year. I have sold 8 of these 21 houses. The average days on the market is longer at 201 days.

Below you will find a chart that shows market statistics for the past 10 years.

It is plain to see that for those of us who own property on Sullivans Island, not only have we had a wonderful place to live, but we have also made a great investment. It is interesting to see what prices have done over the years. I bought my first house on the Island in 1971. It cost $16,000 and I had to rent rooms to make the payment. Real estate continues to be a good investment and this is a great time to buy.

If you would like to be automatically notified about new listings and sales on the Island or any other area in Charleston just drop me an e-mail or call my office and we can set you up.

Thanks for you support over the years. My business cannot be successful without your continued referrals and support.