Since it’s the summer and the beach is on almost everyone’s mind, I thought I’d do a post about our island real estate and how it has fared over the past 10 years. In doing my monthly newsletter in which I compare year over year sales, AND of course from just paying attention to what’s going on, I have noticed significant positive growth on Isle of Palms, Sullivan’s Island and Folly Beach. From the crazies to the doldrums and coming back again…
Here are the numbers and below you’ll find a graphical representation.
You can see across the board, there was approximately a 75% drop in home sales from the 2005 peak to the 2008 trough. Ouch.
Obviously I did not include 2011 sales on there because we haven’t finished the year yet, but so far so good – and Sullivan’s Island is smokin’!
Isle of Palms – 45 sales with 19 under contract
Sullivan’s Island – 18 sales with 13 under contract
Folly Beach – 35 sales with 6 under contract.
Could we possibly be nearing normal??
- Time to Buy That Vacation Home? (online.wsj.com)