Welcome back to the Folly Beach SC Real Estate market update. So we are well passed our “Happy New Year” wishes since it is already the middle of January but a belated Happy New Year to all of you. It’s hard to believe how fast the days go by. Well we got thru one of the coldest & longest winter storms on record here in Charleston and Folly Beach. Typically on the rare occasions when snow does fall here it is usually gone in a matter of hours. This year was dramatically different with the snow & ice crippling the area for days. After spending 20 years in Chicago and dealing with grueling winters I thought I would never see the day of so much snow and ice piled up everywhere with roads virtually impassable. More frigid temperatures are forecast this coming week…..Makes us appreciate our warm summer days.
Well the temperatures may be cold outside but our real estate market continues to simmer along. We have seen a few new properties trickle onto the market but overall we are still dealing with a significant inventory shortage. It feels like I keep saying the same thing with each new post. The few properties that have come on, and were priced properly, have quickly been scooped up. Our supply & demand pendulum is still really one sided on the demand side of the scale. Other barrier island markets like Wild Dunes and the Isle of Palms are benefiting from a much deeper inventory of properties for buyers to choose from. Hopefully we will finally see a significant inventory increase soon. We could sure use it.
Currently on Folly Beach there are only 3 oceanfront homes and four 2nd row homes available for sale west of the Washout. The prices & conditions for each are all over the place as well, ranging from as high as $2.3m for 1216 E Arctic to as low as $900K for a unique 2nd row property at 810 W Ashley. 406 E Arctic was aggressively priced back in early November and only lasted two days on the market before going under contract and just posted sold for $770,000……a pretty decent value purchase for a 2nd row property here at Folly Beach. Vacant land listings also continue to be fairly scarce as well. There is currently only 1 2nd row lot available and quite a few of the current interior lots are very restricted with low bedroom building permits. 604 E Erie is by far the most non-restrictive lot with a 5-bedroom septic permit in hand and a listing price of $549,000 offering nice marsh views.
I am personally marketing Folly Beach’s newest mini subdivision called Captain’s Quarters. This exclusive parcel offers four (4) individual home sites that are all ready to build. Water & sewer are already in place and one can build either a 3 or 4 bedroom home. All four homes will have reverse floor plans to take full advantage of the wonderful marsh and Folly River views. There is a community dock that all owners will share and the location is conveniently located just outside the gates of the Mariners Cay complex so you are just a very short walk away to Center St and all of the shops & restaurants that Folly has to offer. Here is a link to the project:
The owner will build to suit either a 3 or 4 bedroom home or purchase one of the lots and have your own builder come in. Construction on Lot 3 (16 Mariners Cay) will begin soon. Call me anytime for more information about this exciting new project.
My name is Adam Killermann and I am in 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 now & virtually every single day. I look forward to assisting you when you are ready.
Have a great day!