The IOP Market... today.
Low Inventory. The number of new listings for sale on the Isle of Palms has been steadily rising since June 2018 and April was actually the first month to see a rise in Pending Sales since last Fall 2018.
Rising Prices. Prices have been steadily climbing since 2015 and today the median sale price on the Isle of Palms is up more than 53% over the past 6 years. Homes priced under $1MM are exceptionally hard to find and typically get scooped up rather quickly.
When is the right time? if you're like most Buyers, you may fee like you're chasing the market. We often hear people say that a listing appears to be 'overpriced' only to sit on the sidelines waiting on a better deal to come. Months later and that old place seemed like a great deal. Be ready to pounce on a fairly priced deal when you see one. If you're Seller, you can push the market a little BUT keep in mind that days on market is your best indicator to whether or not your price is legit. Price and condition are the two biggest determining factors in whether or not your home represents a good value.