Matt O’Neill Real Estate Market Report
Folly Beach, SC
Single-Family Homes
Folly Beach, SC
Fri Apr 26 2024
This week the median list price for Folly Beach, SC is $1,799,900 with the market action index hovering around 26. This is about the same as last month's market action index of 26. Inventory has decreased to 25.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Buyer's Advantage
The market has been consistently cool for several weeks. Demand level are low relative to the available inventory. It's a Buyer's market and prices continue to fall. Look for a persistent shift in Market Action before prices plateau or begin to rise again.
Real-Time Market Profile
| Median List Price | $1,799,900 | |
| Median Price of New Listings | $2,049,500 | |
| Per Square Foot | $846 | |
| Average Days on Market | 101 | |
| Median Days on Market | 56 | |
| Price Decreased | 44% | |
| Price Increased | 0% | |
| Relisted | 8% | |
| Inventory | 25 | |
| Median Rent | ||
| Market Action | 26 | |
| Slight Buyer's Advantage | ||
Again this week we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high levels. The Market Action Index is a good leading indicator for the durability of this trend.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $2,724,995 | 3,076 | 0.25 - 0.5 acre | 4 | 3.3 | 27 | 0 | 1 | 203 |
| $2,272,450 | 3,061 | 0.25 - 0.5 acre | 4 | 3.8 | 19 | 2 | 1 | 24 |
| $1,622,500 | 2,215 | 0.25 - 0.5 acre | 3 | 3.3 | 45 | 2 | 0 | 28 |
| $1,250,000 | 1,162 | 4,500 - 6,500 sqft | 2 | 1.5 | 56 | 0 | 1 | 63 |