June Real Estate Report
Forty-five homes sold on Daniel Island in June. Sales were up in June over May, but remained about the same for this time last year. As of July 14, there were 183 homes for sale. Of those, 158 were active and 35 were under contract. Sales in June totaled $27,033,450.
The most expensive property sold was a six bedroom/six bath on Furman Farm Place in Daniel Island Park. It sold for $1.54 million. The least expensive home sold was a one bedroom/one bath condo at 130 River Landing Drive. It sold for $146,000.
According to Renee Reinert Pote of Iron Gate Realty, the market has remained strong on Daniel Island even though there is a lot of inventory.
“There seems to be a high level of inventory on the market right now with 158 (active) properties currently on the market,” noted Reinert Pote. “Fifty of those properties $1 million, plus.”
She also added that with building costs increasing due to materials and land costing more, older homes are still attractive.
“Resales now become more competitive and at times a better value than starting from scratch and building your own home. Do not confuse building your own home with a ‘spec’ home where the price is provided up front and still negotiable.”
A special thanks to Renee Reinert Pote with Iron Gate realty for providing information regarding the status of real estate on Daniel Island.