Market Insights | First Quarter of 2022
Ken Willis SOUTH CAROLINA BROKER IN CHARGE 701 Bay Street | Beaufort, SC | 29902 2 Harbor Drive | Harbor Island, SC 29920
We couldn’t have asked for a better way to kick off 2022! We are so proud of the success of our company and our agents. We are now ranked number 46 worldwide in the Berkshire Hathaway HomeServices global network, one of the world’s fastest growing residential real estate brokerage franchise networks, with more than 50,000 real estate professionals and more than 1,500 offices throughout the United States, Canada, Mexico, The Bahamas, Europe and the Middle East. It’s easy to understand why the demand for real estate across the Lowcountry is so high. Beaufort was selected by Southern Living as The South’s Best Small Town of 2022 and we couldn’t agree more! We are still in a seller’s market, with more buyers than sellers, and nearly everything selling at full price. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream. We predict that home prices and rates will continue to rise throughout the year... So the longer you wait, the more it’ll cost you. With today’s real estate market moving as fast as it is, working with a trusted real estate professional is more essential than ever. That may be why the percentage of people who list their houses on their own has reached its lowest point since 1985. We are here to support you in selling, buying, looking for investment properties, considering renovations or connecting you to our network if you move across the country. Please enjoy this quarterly report on our market. We look forward to hearing from you.
By the Numbers
Q1 2022 compared to Q4 2021
13.8%
21%
DECREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Beaufort | 29902 Sellers MARKET
Buyers MARKET
Based on Q1 Supply
34
$574K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
91
2,017
$261
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Second oldest city in South Carolina • Historic Downtown • Restaurants, Art Galleries, and Retail Shops • Home to the Marine Corps Airstation
By the Numbers
Q1 2022 compared to Q4 2021
30%
1%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Fripp Island | 29902 Sellers MARKET
Buyers MARKET
Based on Q1 Supply
26
$768K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
131
2,018
$365
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Private Island • 18 Miles East of Beaufort • 1,474 privately owned homes and villas • Golf courses, Restaurants, Marina • Resort Activities and Events
By the Numbers
Q1 2022 compared to Q4 2021
4%
4%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Harbor Island | 29920 Sellers MARKET
Buyers MARKET
Based on Q1 Supply
21
$501K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
72
1,415
$331
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Private Island • 2.5 Miles of Pristine Beach • Swimming Pool • Fitness Center • Tennis Courts
By the Numbers
Q1 2022 compared to Q4 2021
3%
13%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Coosaw Point | 29907 Sellers MARKET
Buyers MARKET
Based on Q1 Supply
4
$729K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
75
2,578
$293
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • 400 Acre Community • 10 minutes from Historic Beaufort • 11,000 sq. ft. club house • Resort Style Pool • Boat Basin & Storage • Tennis Courts, Pickle Ball Courts • Walking Trails
By the Numbers
Q1 2022 compared to Q4 2021
9%
0%
INCREASE IN AVERAGE
INCREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Dataw Island | 29920 Sellers MARKET
Buyers MARKET
Based on Q1 Supply
16
$609K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
91
2,581
$235
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Resort style gated community of 1100 properties • Marina and boat storage • Two 18 hole golf courses • Tennis club, pickle ball, croquet, indoor and outdoor swimming pools, fitness center and grand clubhouse
By the Numbers
Q1 2022 compared to Q4 2021
9%
18%
DECREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Ladys Island Sellers MARKET
| 29907 Buyers MARKET
Based on Q1 Supply
97
$407K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
83
1,941
$209
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Located north of Beaufort and Port Royal • Miles of breathtaking waterfront • Restaurants and retail • Peace and privacy of rural living • Boat landing for easy water access
By the Numbers
Q1 2022 compared to Q4 2021
7%
10%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Saint Helena Island Sellers MARKET
| 29920 Buyers MARKET
Based on Q1 Supply
5
$552K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
82
1,724
$312
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • 5 miles east of Beaufort • Shops, art galleries, and restaurants • Rich in Gullah culture and history • Beautiful farm land and waterfront properties
By the Numbers
Q1 2022 compared to Q4 2021
3%
22%
INCREASE IN AVERAGE
INCREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
| 29906
Port Royal Sellers MARKET
Buyers MARKET
Based on Q1 Supply
45
$337K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
94
1,805
$192
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Located between Beaufort River and Battery Creek • Peaceful walking community • Community beach • Home to Parris Island, US Marine Corps Base
By the Numbers
Q1 2022 compared to Q4 2021
7%
28%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Habersham Sellers MARKET
| 29906 Buyers MARKET
Based on Q1 Supply
10
$699K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
63
1,936
$349
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Award winning coastal community • Awarded the “best neighborhood design” by the National Association of Home Builders • Homes, townhomes and apartments • Town marketplace with shops and restaurants
By the Numbers
Q1 2022 compared to Q4 2021
6%
1%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Mossy Oaks Sellers MARKET
| 29902 Buyers MARKET
Based on Q1 Supply
62 AVERAGE DAYS ON MARKET
34
$350K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
1,608
$210
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Short driving distance to Beaufort • Move in ready models • Main Street Business District • Shopping & Outdoor Activities • Recreational Water Access • Nature Trails, Boardwalks, and Parks • Farmers Market
By the Numbers
Q1 2022 compared to Q4 2021
56%
24%
INCREASE IN AVERAGE
DECREASE IN AVERAGE
SALES PRICE
DAYS ON MARKET
Callawassie Sellers MARKET
| 29909 Buyers MARKET
Based on Q1 Supply
10
$869K
TOTAL SOLD IN Q1
AVERAGE SOLD PRICE
116
2,990
$279
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • State of the art amenities • 880 acre development • 27 holes of championship golf with three courses • Pro shop & Club house • Deep water and marsh views
Old Point Sellers MARKET
| 29902 Buyers MARKET
Based on Q4 Supply
5
$1.4M
TOTAL SOLD IN Q4
AVERAGE SOLD PRICE
75
4.042
$326
AVERAGE DAYS ON MARKET
AVERAGE SQUARE FEET
AVERAGE SOLD PRICE PER SQ FT
Area & Features • Finest, most historic neighborhood • Conveniently located to historic downtown, bay/marina, shops, and restaurants • Dates back to Revolutionary War • Defined as the land between Carteret Street and the Beaufort River