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Monday, November 25, 2024

Sullivan's Island home prices rise in the first quarter of 2017

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The median sale price of a home sold in the first quarter of 2017 in Sullivan's Island rose by $618,750 while total sales decreased by 14.3%, according to BlockShopper.com.

From January through March of 2017, there were 12 homes sold, with a median sale price of $1,737,500 - a 55.3% increase over the $1,118,750 median sale price for the same period of the previous year. There were 14 homes sold in Sullivan's Island in the first quarter of 2016.

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 2017.

The following table compares Sullivan's Island to other Charleston County cities with similar median sales prices in the first quarter of 2017:

CityJan. - Mar. 2017 Home SalesJan. - Mar. 2016 Home Sales% change (Total Home Sales)Jan. - Mar. 2017 Median Sales PriceJan. - Mar. 2016 Median Sales Price% change (Median Sales Price)
Sullivan's Island1214-14.3%$1,737,500$1,118,75055.3%
Kiawah Island353112.9%$694,000$550,00026.2%
Isle of Palms705234.6%$677,500$700,000-3.2%
Folly Beach2230-26.7%$524,250$464,40012.9%
Ashley Forest56-16.7%$435,000$305,487.5042.4%
Seabrook Island2932-9.4%$420,000$357,50017.5%
Mount Pleasant397426-6.8%$385,000$359,0007.2%
Meggett440%$365,000$368,000-0.8%
Awendaw21100%$347,000$120,000189.2%
Laurel Park15-80%$330,000$315,0004.8%
North Pine Point15-80%$318,000$245,00029.8%

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