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Wednesday, November 6, 2024

How did home prices perform in Sullivan's Island during the first half of 2021?

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The median sale price of a home sold in the first half of 2021 in Sullivan's Island fell by $332,500 while total sales decreased by 42.9%, according to BlockShopper.com.

From January through June of 2021, there were four homes sold, with a median sale price of $690,000 - a 32.5% decrease over the $1,022,500 median sale price for the same period of the previous year. There were seven homes sold in Sullivan's Island in the first half of 2020.

The median sales tax in Sullivan's Island for the most recent year with available data, 2019, was $9,160, approximately 1.3% of the median home sale price for the first half of 2021.

The following table compares Sullivan's Island to other Charleston County cities with similar median sale prices in the first half of 2021:

CityJan. - June 2021 Home SalesJan. - June 2020 Home Sales% change (Total Home Sales)Jan. - June 2021 Median Sales PriceJan. - June 2020 Median Sales Price% change (Median Sales Price)
Isle of Palms12110119.8%$775,000$685,50013.1%
Edgewater Park3250%$750,000$495,00051.5%
Sullivan's Island47-42.9%$690,000$1,022,500-32.5%
Kiawah Island1136088.3%$664,000$697,500-4.8%
Folly Beach564816.7%$650,000$631,5002.9%
Edisto Island181250%$547,500$402,50036%
Seabrook Island100928.7%$534,000$375,00042.4%
Meggett135160%$497,000$449,00010.7%
Mount Pleasant1,12594818.7%$492,000$424,44815.9%
Secessionville Acres42100%$469,500$470,000-0.1%
Ravenel79-22.2%$455,000$386,00017.9%

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