Seabrook Island Real Estate
Second quarter 2011 single family home sales on Seabrook Island, SC practically mirror first quarter sales in that eight single family homes sold in the second quarter verses nine homes in the first quarter. For the same periods in 2010, second quarter sales of single family homes numbered nine houses sold, verses ten in the first quarter of the same year. The average price per square foot of the homes sold in the second quarter was $269.51 verses $218.95 in the first quarter, the difference in square foot price between the two quarters was the range in prices of homes sold last quarter—that range was between $150,000 and $650,000. This (second quarter) the prices range from a low of $275,000 to a high of $1,400,000.
Second quarter 2011 villa/condo sales showed eight units sold, verses six units sold last quarter where as in the second quarter of 2010 eight units sold. The average price per square foot of the units sold in this second quarter was $246.90 verses $240.15 last quarter. In 2010, second quarter average price per square foot was $300.49 and $262.69 in the first quarter.
The take away it appears is that sales are either flat or consistent quarter to quarter and from this year to last year depending on how you care to look at it. A conservative number to estimate the cost per square foot seems to be in the $240 to $260 range. On the whole buyers are not showing any sense of urgency preferring to watch, track prices and wait. Houses, and villas/condos that have sold are normally in excellent condition and priced below their competition.
Another factor to consider in this equation is that currently there are some twenty homes in some stage of construction on Seabrook Island. With the Seabrook Island Real Estate price to build competitive with the price to buy some are making the choice to build the home they want and are including the latest in energy efficiency.