Low inventory may soon impact DI home market

While the sales numbers continue to be more than double year-over-year figures, Daniel Island area real estate could slow, not because of demand, but rather a lack of inventory.

 

In November, 47 homes sold on Daniel Island. The least expensive home was a condo on River Landing for $155,000. The most expensive home sold for $3.3 million located on Balfour Drive in Daniel Island Park. 

 

The total volume sold in November was $46,020,216. As of Dec. 12, there were 50 active listings while 69 homes were under contract. According to Ben Laaper with Matt O’Neill Real Estate, this underscores a very strong sellers’ market.

 

“We experienced a continuation of a recent phenomenon, whereby there are actually more homes under contract or pending as compared to active listings,” Laaper said.  

 

He also noted that the current active listings represent a mere six weeks of inventory and may impact sales in the first quarter of the new year.

 

“Much of the growth we have experienced this year on Daniel Island is a result of the influx of many out of state buyers as well as numerous local residents who have taken advantage of the increased real estate values by either upsizing or right sizing,” Laaper

added.

 

A special thanks to Ben Laaper with Matt O’Neill Real Estate for providing information regarding the status of real estate on Daniel Island.

 

HOMES THAT SOLD IN NOVEMBER