December sales up over last year but high mortgage rates remain a challenge

During December, 19 homes sold on Daniel Island. Ten homes sold during November. As of Jan. 13, there were 70 homes listed for sale. Of those, there were 38 active listings and 32 listings were under contract. The total sales for December, 2023 were $27,809,500. 
According to Tricia Peterson with Island House Real Estate, 2023 was a challenging year for the U.S. housing market. Higher mortgage rates, low inventory, and higher sales prices put homeownership out of reach for many consumers. Housing affordability remained a top concern for homebuyers, and for good reason: mortgage payments are up significantly from 2022, with a number of homeowners now spending more than 30% of their income on their monthly payment. 
As a result, sales of previously-owned homes remained sluggish throughout the year, while the shortage of existing-home inventory helped sales of new construction homes steadily increase from last year.
“Higher mortgage rates aren’t just affecting buyers. Many current homeowners purchased or refinanced their home in 2020 or 2021, when mortgage rates were several percentage points lower than today’s rates. And while those pandemic-era mortgages have been a blessing for many homeowners, they’ve also kept others from moving. Rather than give up their current mortgage rate for a higher rate and a more expensive monthly payment, some would-be sellers have chosen to put their moving plans on hold, further limiting the number of homes for sale and driving up home prices in the process,” Peterson said.
127 Beresford Creek St. - $1,740,000
115 Bounty St. - $1,430,000
200 Bucksley Lane #304 - $315,000
400 Bucksley Lane #103 - $325,000
1613 Bulline St. - $1,175,000
2445 Daniel Island Drive - $1,925,000
1303 Elfe St. - $867,000
928 Etiwan Park St. - $1,050,000
6055 Grand Council St. - $1,120,000
1430 Hooper St. - $1,475,000
514 Lesesne St. - $2,675,000
1515 Mitchell Wharf - $920,000
135 Pier View St. #309 - $625,000
1647 Pierce St. - $1,412,500
1931 Pierce St. - $735,000
200 River Landing Drive #305A - $675,000
1418 Smythe St. - $3,200,000
613 Wading Place - $3,795,000
58 Woodford St. - $2,350,000
Compiled by Katherine Smith,

Daniel Island Publishing

225 Seven Farms Drive
Unit 108
Daniel Island, SC 29492 

Office Number: 843-856-1999
Fax Number: 843-856-8555


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