August home sales still holding strong

While August 2020 Daniel Island home sales were down slightly from the previous month, they still exceed 2019 by significant numbers. 

 

Forty-eight homes sold on Daniel Island in August —  an increase of 23% over August 2019. The total sold volume was $48,663,823. 

 

As of Sept. 9, there were 172 homes on the market, with 89 active homes and 83 homes that are currently under contract. The least expensive home sold for $167,000, a condo on River Landing Drive. The most expensive property sold was a home on Watroo Point, which sold for $4.1 million.

 

Ben Laaper with Matt O’Neill Real Estate notes that the average home on Daniel Island sold for more than $1 million with a median price of $856,500. He believes that these high figures were greatly impacted by the mix of homes that sold, and reflects a trend that has been building up for a few years. 

 

“After the market took a COVID dip in May, sales have dramatically increased since then as market timing has shifted this year,” remarked Laaper.

 

Laaper also noted that based on 12 months running data there is only 2.4 months of inventory, which clearly makes this a seller’s market (inventory levels of less than 5 months is generally deemed a seller’s market).