Folly Beach SC Real Estate Market Update

Hello from beautiful Folly Beach, SC….The Edge of America.  Well Fall is finally upon us and as we await our cooler Fall temperatures here at Folly Beach we have seen a much cooler real estate market for quite some time now.  Inventory numbers are easily at the lowest levels of my entire 12+ year real estate career.  Typically we see an abundance of new rental property inventory make its way onto the market shortly after the peak summer rental season ends in late August however this year we are still waiting.  Maybe Sellers are not ready to give up their Folly Beach properties?  Maybe Sellers don’t have another viable property to move too?  Maybe Sellers think that market prices will continue to rise and they are just holding out a bit longer?  These could all be and are all valid reasons why our inventory may be at historic low levels.

As we wait for new inventory to come available the long line of potential Buyers continues to grow.  Week in & week out I have visitors to Folly Beach walk in my office and express an interest in learning about Folly Beach real estate.  The beginning of the year was frenzied for sure.  There was a perfect combination of solid inventory for sale and qualified Buyers to match.  Sales were brisk and many properties were immediately thrust into “multiple offer” situations.  As inventory began to shrink so did the number of days on the market and properties disappeared at a record pace.  Prices began ticking upward at a relatively modest level…..the market was strong & robust.  Now, for the moment, the market for all intensive purposes has come to a screeching halt.  It’s like an anchor has been dropped and we have firmly run a ground.

The one thing that I have seen time and time again with real estate sales is that you truly don’t know what tomorrow (and even later today) might bring.  Patience is the only option for Buyers these days.  Anxious as they are to become Folly Beach property owners they must try to find a common discipline to still decide on what is the best property to meet their needs and not just grab the scraps that may be left.  Those decisions can become tougher in a market like this however.

The end of each year always seems to move along at a quick pace as well.  We are all or will all be very busy soon.  Life just seems to get faster & faster with each passing day.  Between football season in full swing & with Halloween right around the corner, then Thanksgiving and Christmas to follow before we know it 2018 will be upon us. Hopefully we will soon have new inventory to present our Buyers…..I know I am about to head right back to the MLS for another look momentarily.

My name is Adam Killermann and I am about to start my 13th year as a Full Time Folly Beach Real Estate Agent.  I have spent my entire real estate career on Folly Beach and look forward to hopefully at least another 13 more years assisting our community.  You can call, text or email me anytime.  So whether you are looking for a current market valuation for your property or are interested in learning more about our real estate market it will be my pleasure to assist you.  Take the time to look me up and ask around about me…..I am here at my Folly Beach office virtually every single day.  I look forward to assisting you when you are ready.

 

Adam Killermann – Avocet Properties

38 Center St. – Folly Beach, SC 29439

(843) 452-4967

[email protected]

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