September 2010 Folly Beach Real Estate Market Report
It remains a good time to buy real estate on Folly Beach. Prices remain low while demand is increasing and returning to normal levels. 5 homes sold in September on Folly Beach, bringing the total sold in 2010 to 76. Compare that to 2009 where 63 sold and we can see that demand is back. This is the beginning of a turn-around, although I believe we have slow growth ahead of us. There is no denying that more people are buying now than last year.
Prices remain low, with an average sale price of $364,000 in September. Many people realize that they can afford these prices and are buying their vacation home. They are taking advantage of low interest rates, and shifting some of their investment portfolio into real estate, which could provide a great return as well as offering family enjoyment. Stocks portfolios do not provide the memories that a vacation home can.
Some of the sales in September include:
An oceanfront home for $825,000.
A 1600 square foot 3 BR Waters Edge townhome with views for $374,000
A Mariners Cay 2 BR condominium with views for $220,000.
If you are interested in buying Folly Beach real estate, or would like help selling your home, trust a professional who keeps you current on the market. Contact Vince Perna today.