E
xtraordinary Fripp Island Living
701 Bay Street , Beaufort, SC 29902 • 2 Harbor Drive, Beaufort, SC 29907
Q&A From the desk of Ken Willis, Broker in Charge
Q:
How has the Fripp Island market changed over the last year?
A:
We are seeing an increase in home sales on Fripp Island. During Q3 of 2019 the average sales price of a home was $453,000. This year through Q3 the average sales price was $518,326. That’s a 15% increase YOY. We have also seen a 54% increase in the sold price for condos on Fripp Island. During Q3 of 2019 the average sales price of a condo was $174,377. This year through Q3 the average sales price of a condo was $270,172.
Q: Now that we are all spending more time at home, what kinds of improvements are Fripp Island residents making around the house?
A:
Q:
We live in the perfect environment for year round outdoor living! Whether it's a new screened-in porch, an outdoor kitchen or a cozy fire pit, our residents are taking full advantage of time at home by enhancing their backyards. If 2020 has taught us anything, it's the appreciation of home and bringing the comfort of our homes outdoors.
How has technology changed how Fripp Island markets to new residents?
A:
In these unprecedented times, more and more people are working remotely and what better way to do that than a beautiful environment such as Fripp Island. With the low interest rates, we have seen increase in buyers from direct flight markets. With the market demand, we could certainly use even more listings as our inventory is saturated, much like the rest of our region. What a blessing to live in the most beautiful part of the world, and we are excited that others want the chance to be a part this amazing lifestyle.
FRIPP ISLAND HOMES 708 Red Drum Road N 4 Bed | 3.5 Bath $1,300,000 Jennifer Helms (843) 263-5962
601 Dolphin Annex 3 beds | 3.5 baths $779,000 Michelle Basso (843) 575-4687
501 Sunsuite 1 Bed | 1 Bath $115,000 Todd McDaniel (843)263-1906 Marjory Mitchell (843)263-9893
706 Red Drum Road S 4 Bed | 3 Bath $1,150,000 Jared Romero (229)347-1828
To view all available Fripp Island homes scan here:
Q3 MARKET REPORT Q3 2019
Q3 2020
YTD 2020
TOTAL HOMES SOLD
54
109
134
AVERAGE LIST PRICE
$487,003.69
$562,862
$557,711.86
AVERAGE SALES PRICE
$453,004.40
$518,326
$517,870.15
CURRENT ACTIVE LISTINGS: 51
Total Homes Available
51
Total Homes Sold
134
Average List Price (000)
$558k
Average Sale Price (000)
$518k *Current as of 11/20/20
Seller's Market
0-6 Months' Supply Demand exceeds supply which leads to increased home prices, leading to the seller having the upper hand during negotiations.
Buyer's Market
6 Months' Supply A balanced market with supply and demand.
6+ Months' Supply Supply exceeds demand which leads to decreased home prices, leading to the buyer having the upper hand during negotiations.
Interested in selling your home? Call us at (843) 838-3004 To view more listings, use our QR code or visit www.baystreetrealtygroup.com