$6,828 Closing Credit*
$575,000
2,037 SqFt
4 Beds
•2 Full Baths
GREGORY BLACKALL, Listing Office: OPENDOOR BROKERAGE, LLC.
Is Isle of Palms, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Isle of Palms has remained a Seller's Market.
Key Takeaway
Isle of Palms is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Isle of Palms, FL
How much do homes in Isle of Palms, FL cost?
Median Sold Price
$615,000
$339/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$117,500(-16.0%)
Key Takeaway
Homes in Isle of Palms have sold for 16% less than they did a year ago.
Summary: The median home sold price in Isle of Palms was $615,000 in November 2024, down 16% from last year, and the median price per square foot was $339.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $469.5K | $372.4K | -20.7% |
| 3 Bedrooms | $618.2K | $570K | -7.8% |
| 4 Bedrooms | $1.1M | $945K | -14.1% |
| 5+ Bedrooms | $815K | $1.4M | +79.9% |
Summary: Isle of Palms housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 20.7%, 3 bedroom homes decreased by 7.8%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes increased by 79.9%.
Housing Supply in Isle of Palms, FL
How many homes are available in Isle of Palms, FL?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 39 | +21.9% |
Summary: The Isle of Palms real estate market had 39 homes for sale in November 2024, a 21.9% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 9 | 12 | +33.3% |
| 4 Bedrooms | 16 | 17 | +6.3% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Isle of Palms housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 33.3%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 10 | +100.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Isle of Palms, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Isle of Palms in November 2024, up by 100.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 10% were sold at asking, and 10% were sold over asking.
Days on Market for Isle of Palms, FL
How long does it take to sell a home in Isle of Palms, FL?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 241 Days | 61 Days | -74.5% |
Summary: Homes in Isle of Palms had an average of 61 days on market in Nov 2024, down by 74.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Isle of Palms are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in Isle of Palms; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
