October proved to be a very good month for real estate sales on Seabrook Island, especially for single family homes. In fact one home on Ocean Forest Lane sold for $2,675,000 which was the largest sale on Seabrook since February of 2007. Remember those days? In addition to that sale five other homes sold, one for $1 million on Seabrook Island Road, one on Privateer Creek for $925,000, one on Royal Pine Drive for $532,000, another on Seabrook Island Road for $527,000 and a Sea Loft Villa for $350,000. Compare that to last October when only one house sold and that was on Lobolly Lane and closed at $389,000. One Racquet Club Villa sold last month for $350,199 and it was a 3 Bedroom/3 Bath unit. Last year two units sold; a 2 Bedroom/ 2 Bath Courtside Villa sold for $160,000, and a 2 Bedroom/2 Bath Spinnaker Beach House sold for $375,000.
At the end of October the Multiple Listing Service showed that there were twelve properties in the process of closing/under contract, most waiting for approval of financing. Of the twelve eight were single family detached homes ranging in listing prices from $275,000 (a Tree Loft Villa) to a 3 Bedroom/3/1 Bath on Seabrook Island Road listing for $1,495,000. The four other units were Villas, listing prices ranging from a 1 Bedroom/1 Bath Courtside for $109,000 to a 2 Bedroom/2 Bath Atrium for $329,000.
Of the twelve units under contract, two Villas and two single family detached homes are Short Sales. The goods news here is that the more of these distressed properties move through the sales process the better for all those looking to sell.



