Fripp Island Living
701 Bay Street , Beaufort, SC 29902 • 2 Harbor Drive, Harbor Island, SC 29920
Q&A From the desk of Ken Willis, Broker in Charge
Q: Why list with Berkshire Hathaway HomeServices? island location has been the #1 in sales on Fripp and Harbor since A: Our 2002. The majority of our agents are long time Fripp Island owners who
live on the island. Our island office is located less than 10 minutes from the gate of Fripp Island. This means we always have an agent within 10 minutes or less to show your property. Our agents are able to give you up-to-date information on what is happening in the marketplace including the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle. Our Fripp Island team not only has strong local market knowledge but is also well versed in the nuances of covenants, restrictions, POA dues, ARB dues and club structure. We spend more dollars marketing Fripp Island, through digital and traditional advertising, than any other firm in the area.
Q: How has 2020 changed the real estate climate? What does an inventory shortage mean?
A:
Q:
In 2020 we started to see a migration within the United States and an emphasis on the importance of personal lifestyle, community and home. As more and more people started working remotely, customers migrated to our beautiful Fripp Island. Due to the number of folks moving here, there are a significantly reduced number of properties on the market. In real estate this creates what is known as an inventory shortage. Are you wondering to yourself what an inventory shortage is? It occurs when there are more buyers than sellers. In turn, the asking price on properties increases and the days on market goes down considerably. Fripp Island is in need of new listings because of this, so we ask you to contact our office today to connect with an extraordinary agent.
We have had agents from outside the area ask to list our home, is this a disadvantage?
A:
Yes, it is important to work with an agent that knows the area they are selling. Our extraordinary agents not only live locally but they are local experts. They all live no more than 10 minutes away from any listing on Fripp Island and can easily be available at any time. Off island agents lack critical market knowledge needed and are not well versed in the nuances of covenants, restrictions, POA dues, ARB dues and club structure. Whereas, our local real estate rockstars are very familiar with all of these details.
FRIPP ISLAND HOMES 706 Red Drum Road 4 Bed | 3 Bath $1,115,000 Jared Romero (229) 347-1828
1 Snowy Egret Circle 5 Bed | 3 Bath $1,249,000 Mike Lewis (843) 271-4979
113 Capt John Fripp #113 3 bed | 2 bath $424,900 Todd McDaniel (843) 263-1906 Marjory Mitchell (843) 263-9893
708 Red Drum Road N 4 Bed | 3.5 Bath $1,300,000 Jennifer Helms (843) 263-5962
To view all available Fripp Island homes scan here:
Q4 MARKET REPORT TOTAL HOMES SOLD AVERAGE HOME SALES PRICE
TOTAL CONDOS SOLD AVERAGE CONDO SALES PRICE
A GLIMPSE AT Total Homes Available
22
2021: Total Condos Available
7
2019
2020
115
148
$456,089.67
$531,577.03
30
44
$197,913.76
$261,386.36
WE NEED INVENTORY!
*Current as of 1/26/21
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