2023 BROUGHT TO YOU BY: Lauren Fournier ANNUAL REAL ESTATE MARKET REVIEW 843.855.4799 • livecoastalsc.com THE RESERVE
LOCAL EXPERTISE WITH A GLOBAL PERSPECTIVE
In the picturesque expanse of Georgetown County, the real estate landscape is currently navigating the intriguing dynamics of a scarcity-driven market. Characterized by a notable shortage in available properties, our area has witnessed a surge in both average and median sales prices during 2023.
The prevailing scarcity of housing inventory in Georgetown County has become a defining feature of its real estate market. The limited availability of homes for sale has created a heightened sense of exclusivity, prompting increased competition among buyers seeking to secure their dream homes within this coastal haven.
This imbalance between supply and demand has had a pronounced impact on property values in 2023 compared t0 2022. The average and median prices in Georgetown County increased 16% and 11%, repectively. As prospective buyers navigate this landscape, they find themselves operating in a market where property values are not only influenced by intrinsic qualities but also by the rarity of the offerings.
For sellers, the limited inventory translates into an opportune moment to maximize returns on their properties. The heightened demand, coupled with a reduced supply, positions sellers in a favorable light, allowing them to leverage the current market conditions for strategic pricing and negotiations. As interest rates begin to fall, the attractiveness for buyers will only heighten.
In conclusion, Georgetown County’s real estate market, shaped by a lack of inventory, paints a captivating view where scarcity becomes a catalyst for increased values. As our area navigates these dynamics, both buyers and sellers are reminded to embrace the opportunities that arise in this distinctive and evolving real estate landscape.
Lauren Fournier Sales Associate
4 Currently Active Home Listings 12 Sold Home Listings 95 Average Days on the Market for Homes $1,055,000 Median Home Sales Price $1,150,416 Average Home Sales Price 97% Average Home List Price vs Sold Price Ratio $302.44 Average Price per Square Foot for Homes 2023 MARKET CONDITIONS FOR HOMES IN THE RESERVE
livecoastalsc.com
843.855.4799 lauren.fournier@peacesir.com
The Reserve | RESIDENTIAL PROPERTY ACTIVITY IN 2023 ADDRESS BED BATH SOLD PRICE STATUS 460 Reserve Dr. Sold 5 4 $1,037,500 116 Rose Laurel Ct. Sold 4 3.1 $1,050,000 231 Cottage Ct. Sold 4 3 $700,000 126 Cottage Ct. Sold 3 3.1 $722,500 136 Cottage Ct. Sold 3 3.1 $735,000 47 Vintage Dr. Sold 4 4.1 $1,000,000 353 Hunter Oak Ct. Sold 4 4.1 $1,060,000 527 Preservation Circle Sold 5 5.1 $1,485,000 53 Bald Cypress Ct. Sold 3 3.2 $1,300,000 120 Running Oak Ct. Sold 4 3.1 $1,085,000 ASKING PRICE $1,079,000 $1,095,000 $699,000 $749,900 $765,000 $1,100,000 $1,060,000 $1,500,000 $1,320,000 $1,085,000 CLOSE DATE 5/22/2023 4/5/2023 1/12/2023 6/5/2023 8/1/2023 8/24/2023 9/15/2023 12/12/2023 6/9/2023 5/4/2023 93 Grove Hill Ct. Sold 5 5.2 $1,980,000 321 Preservation Circle Sold 5 4.1 $1,650,000 $1,975,000 $1,750,000 4/3/2023 4/10/2023 309 Huntington Lake Circle Sold 3 3.1 $310,000 $585,000 1/23/2023 13 Golf Club Circle Sold 3 3.1 $760,000 152 Cottage Ct. Sold $195,000 99 Huntington Lake Circle Sold 3 3.1 $650,000 113 Huntington Lake Circle Sold 3 3.1 $650,000 35 Golf Club Circle Sold 3 3.1 $750,000 54 Hunters Oak Ct. Sold $230,000 19 Vintage Dr. Sold $272,000 83 Pipedown Landing Dr. Sold $265,000 Lot 41 Reserve Dr. Sold $250,000 $769,900 $188,500 $650,000 $680,000 $749,900 $230,000 $275,000 $289,900 $269,000 10/10/2023 5/30/2023 2/15/2023 9/13/2023 5/30/2023 6/1/2023 3/15/2023 3/6/2023 3/9/2023 155 Brickwell Ln. Sold $309,000 Lot 63 Preservation Circle Sold $302,000 $309,000 $309,995 8/28/2023 3/16/2023 140 Pipedown Landing Dr. Sold $310,000 $310,000 3/22/2023 0.19 Acres 0.59 Acres 0.38 Acres 1.72 Acres 0.52 Acres 0.49 Acres 1.87 Acres 2.28 Acres
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