Is Sullivan's Island, SC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Sullivan's Island was a Seller's Market.
Key Takeaway
Sullivan's Island is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Sullivan's Island, SC
How much do homes in Sullivan's Island, SC cost?
Median Sold Price
$3,033,000
$1,302/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Sullivan's Island have sold for 36.5% less than they did a year ago.
Summary: The median home sold price in Sullivan's Island was $3,033,000 in May 2024, down 36.5% from last year, and the median price per square foot was $1,302.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $647.5K | - | N/A |
| 2 Bedrooms | $2.0M | $2.4M | +21.6% |
| 3 Bedrooms | $2.8M | $2.5M | -10.8% |
| 4 Bedrooms | $6.0M | $3.7M | -38.1% |
| 5+ Bedrooms | $5.2M | $5.6M | +6.2% |
Summary: Sullivan's Island housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 21.6%, 3 bedroom homes decreased by 10.8%, 4 bedroom homes decreased by 38.1%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
| Mount Pleasant | $740.8K | $827.8K | +11.7% |
| Isle of Palms | $1.5M | $1.6M | +8.8% |
| Sullivan's Island | $4.7M | $3.0M | -36.5% |
Housing Supply in Sullivan's Island, SC
How many homes are available in Sullivan's Island, SC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 25 | +4.2% |
Summary: The Sullivan's Island real estate market had 25 homes for sale in May 2024, a 4.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 3 | 3 | 0.0% |
| 3 Bedrooms | 5 | 6 | +20.0% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 9 | 8 | -11.1% |
Summary: The Sullivan's Island housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 1 | -85.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Sullivan's Island, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Sullivan's Island in May 2024, down by 85.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% 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
