Homes & Real Estate Properties For Sale Sullivans Island SC

Sullivan's Island, SC, is an exclusive real estate market with a distinctive character, driven by high demand and limited inventory.real estate agent sullivans island sc This exclusive island in South Carolina does not see a lot of transition and activity. In 2024, the average home value on Sullivan's Island is approximately $4.0 million, reflecting an 11.5% increase year-over-year. Obviously oceanfront homes & waterfront properties are why most move here reflecting why the median listing price is $4.2 million, and recent sales data shows that most homes are selling slightly under their list prices. Notably, there has been a net outbound migration of residents to nearby cities like Columbia, Asheville, and Greenville, SC. This trend may indicate a shift in the demographics or a response to the rising property values, potentially leading some residents to seek more affordable locations, or sellers wanting to cash-in on the recent real estate boom of Sullivan's Island.

MLS Listings Data: Sullivans Island
Total Listings: 32
Average Price: $5,505,813
Highest Listing Price: $14,995,000
Average Days On Market: 203

Homes & real estate For Sale Sullivans Island SC. MLS real estate listings for sale in the town/city of Sullivans Island SC by price, street, age, types: condos, waterfront homes, lakefront, beachfront, golf communities, subdivisions, townhomes, luxury condos, 55+ neighborhoods, list date, bedrooms & more Sullivans Island SC. Presently, Sullivans Island SC has a total of thirty-two listings on the local MLS for sale with an average price point of $5,505,813, the max being $14,995,000 and the lowest priced house $899,000 to purchase. Homes for sale in the Sullivans Island SC have an average size of 3,614 sq ft and the average days on the market in Sullivans Island SC is 203 days. Please contact our team to list or sell your home, view or make an offer on one of the properties you see here updated every 5 mins in real-time. 

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The real estate market on Sullivan's Island is characterized by high property values, limited inventory, and strong demand. While there is a slight outflow of residents to neighboring cities, the overall market remains buoyant with increasing prices. As the price per square foot continues to rise, potential buyers will need to carefully assess value propositions in this luxury market.

 

SULLIVAN'S ISLAND REAL ESTATE MARKET DATA

Five Year Price Trend

Market Segmentation by Property Type

  • Luxury Estates: Priced from $4M to over $12M, with premium beachfront locations commanding the highest prices.
  • Historic Homes: Unique properties with historical significance or distinctive architectural styles, often sold at a premium.
  • Smaller Cottages & Bungalows: Still priced above $2M, but offering options for those seeking smaller footprints in a high-demand market.
  • Condos: Sullivan's Island does not have many single-family attached homes such as villas, condos, or townhomes like you'd find on the other exclusive pricey island communities like Kiawah Island, or the gated Wild Dunes resort on Isle of Palms.

 

Sullivan's Island Real Estate Market Trends (2024)

The above chart shows the average home values and median listing prices for Sullivan's Island throughout 2024. There is a clear upward trend in both metrics, demonstrating robust growth in property values. The median listing price started at $3.7 million in January and steadily increased to $4.3 million by September. Similarly, the average home value rose from $3.6 million to $4.2 million in the same period, reflecting a strong sellers' market.

 

Most Recent Real Estate Sales on Sullivan's Island

 

 

Market Trends & Pricing Insights

  • Median Sales Price: $4.2M (up 12.9% year-over-year)
  • Average Home Value: $4.0M (up 11.5%)
  • Sales Volume: 29 homes sold in August 2024, a 9.4% decrease from July.
  • Days on Market: Average of 101 days, indicating a slower turnover than typical high-demand areas.

Key Observations:

  1. Consistent Growth: Property prices on Sullivan's Island have been steadily climbing, with a notable acceleration in the summer months (June to August).
  2. High-Value Market: Even properties on the lower end are priced above $2 million, making it one of the most exclusive markets in the Charleston metro area.
  3. Slight Seasonal Slowdown: August and September show some stabilization, but the demand remains strong despite the seasonal cooling typically seen in other markets.

 

Days on Market Analysis

Homes are averaging 101 days on market, which is longer than in 2023. This may indicate that while prices are high, buyers are becoming more discerning, leading to more protracted negotiations.

Sales Volume and Price Per Square Foot Trends (2024)

The above chart provides insights into the sales volume and price per square foot for Sullivan's Island real estate in 2024. Key takeaways include:

  1. Sales Volume Trends:
    • Sales volume peaked in July at 32 homes, followed by a slight decline in August and September to 29 and 26 homes, respectively.
    • This decrease suggests a seasonal cooling, as well as potential buyer fatigue at elevated price points.
  2. Price Per Square Foot:
    • The price per square foot has shown a consistent upward trend, starting at $1,050 in January and rising to $1,225 by September.
    • This indicates that, despite fewer homes being sold, sellers are capturing higher values on a per-square-foot basis.