June home prices on DI higher than last year
Wed, 07/27/2022 - 10:30am admin
Thirty homes were sold on Daniel Island in June. The least expensive home sold was a condo on Bucksley Lane, which sold for $270,000.
The most expensive home sold was in Daniel Island Park on Ithecaw Creek Street, which sold for $3.075 million.
Total sales for June were $44,261,525. As of July 11, a total of 66 homes were for sale on Daniel Island, with 40 of those under contract and 26 active.
According to Tricia Peterson with Island House Real Estate, sales in the area showed an increase in supply with a decrease in closed volume. However, the price per square foot and the average sales price of homes is still considerably higher now when compared to June 2021.
“The recent spike in interest rates caused a cooling off for some buyers, many waiting for a much-anticipated ‘market burst’ but July is already showing signs of a huge rebound and we are pretty confident the market may have slowed down temporarily in reaction to the interest hikes, but not permanently,” Peterson noted.
Compiled by Katherine Smith, email@example.com