Is Isle of Palms, 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, Isle of Palms was a Seller's Market.
Key Takeaway
Isle of Palms is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Isle of Palms, SC
How much do homes in Isle of Palms, SC cost?
Median Sold Price
$1,632,250
$826/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Isle of Palms have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Isle of Palms was $1,632,250 in May 2024, up 8.8% from last year, and the median price per square foot was $826.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $541.2K | $505K | -6.7% |
| 2 Bedrooms | $777.5K | $847.5K | +9.0% |
| 3 Bedrooms | $1.3M | $1.3M | -6.8% |
| 4 Bedrooms | $1.9M | $1.9M | -1.9% |
| 5+ Bedrooms | $3.5M | $3.1M | -12.4% |
Summary: Isle of Palms housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.7%, 2 bedroom homes increased by 9%, 3 bedroom homes decreased by 6.8%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes decreased by 12.4%.
Median Sold Price Compared To Nearby Cities
| Isle of Palms | $1.5M | $1.6M | +8.8% |
| Sullivan's Island | $4.7M | $3.0M | -36.5% |
Housing Supply in Isle of Palms, SC
How many homes are available in Isle of Palms, SC?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 117 | 126 | +7.7% |
Summary: The Isle of Palms real estate market had 126 homes for sale in May 2024, a 7.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 8 | -27.3% |
| 2 Bedrooms | 20 | 19 | -5.0% |
| 3 Bedrooms | 22 | 23 | +4.5% |
| 4 Bedrooms | 29 | 36 | +24.1% |
| 5+ Bedrooms | 35 | 40 | +14.3% |
Summary: The Isle of Palms housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 27.3%, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 24.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Isle of Palms, you may be able to get a good deal. 70% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Isle of Palms in May 2024, down by 4.8% month-over-month. Of the 20 sold homes, 70% were sold under asking, 15% were sold at asking, and 15% were sold over asking.
Days on Market for Isle of Palms, SC
We’re sorry, we don't have information for this market at the moment
