Is Folly Beach, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Folly Beach is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Folly Beach has remained a Seller's Market.

Key Takeaway

Folly Beach is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Folly Beach, SC

How much do homes in Folly Beach, SC cost?

Median Sold Price

$1,025,000

$598/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$35,000(+3.5%)

Key Takeaway

Homes in Folly Beach have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in Folly Beach was $1,025,000 in May 2024, up 3.5% from last year, and the median price per square foot was $598.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $447.5K$295K
-34.1%
2 $665K$545.6K
-18.0%
3 $1.0M$950K
-5.0%
4 $1.7M$1.2M
-27.8%
5+ $2.5M$3.1M
+21.6%

Summary: Folly Beach housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 34.1%, 2 bedroom homes decreased by 18%, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 27.8%, and 5+ bedroom homes increased by 21.6%.

Median Sold Price Compared To Nearby Cities

James Island
+10.3%
Charleston
+10.2%
Johns Island
+3.8%
Folly Beach
+3.5%

Housing Supply in Folly Beach, SC

How many homes are available in Folly Beach, SC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
7377+5.5%

Summary: The Folly Beach real estate market had 77 homes for sale in May 2024, a 5.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 1923
+21.1%
3 2828
0.0%
4 1818
0.0%
5+ 77
0.0%

Summary: The Folly Beach 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 increased by 21.1%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
413+225.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Folly Beach, you may be able to get a good deal. 76.9% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in Folly Beach in May 2024, up by 225.0% month-over-month. Of the 13 sold homes, 77% were sold under asking, 15% were sold at asking, and 8% were sold over asking.

Days on Market for Folly Beach, 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 1 Day Ago

Newest Listings in Folly Beach, SC

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