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Tuesday, September 24, 2024

Sullivan's Island home prices fall in the first quarter of 2019

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The median sale price of a home sold in the first quarter of 2019 in Sullivan's Island fell by $61,563 while total sales increased by 9.1%, according to BlockShopper.com.

From January through March of 2019, there were 12 homes sold, with a median sale price of $1,938,438 - a 3.1% decrease over the $2,000,000 median sale price for the same period of the previous year. There were 11 homes sold in Sullivan's Island in the first quarter of 2018.

The median sales tax in Sullivan's Island for the most recent year with available data, 2015, was $7,193, approximately 0.4% of the median home sale price for the first quarter of 2019.

The following table compares Sullivan's Island to other Charleston County cities with similar median sales prices in the first quarter of 2019:

CityJan. - Mar. 2019 Home SalesJan. - Mar. 2018 Home Sales% change (Total Home Sales)Jan. - Mar. 2019 Median Sales PriceJan. - Mar. 2018 Median Sales Price% change (Median Sales Price)
Sullivan's Island12119.1%$1,938,437.50$2,000,000-3.1%
Isle of Palms3656-35.7%$877,500$918,750-4.5%
Kiawah Island1433-57.6%$591,500$875,000-32.4%
Folly Beach15150%$535,000$660,000-18.9%
Edgewater Park31200%$430,000$200,000115%
Edisto Island72250%$423,000$447,500-5.5%
Mount Pleasant255346-26.3%$418,000$405,5003.1%
Ashley Forest3250%$395,000$410,000-3.7%
Plantation Estates10-$395,000$0-
Laurel Park21100%$389,000$370,0005.1%
Ravenel35-40%$375,000$140,000167.9%

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