For many years now, Daniel Island has been one of the "darling" sub-markets in the Charleston, SC area. As a planned "affluent" and predictable community, Daniel Island has enjoyed strong appreciation (parallel to, and sometimes ahead of) Mount Pleasant.
However, prices have risen to the point where demand is starting to pull back, and right now Daniel Island is poised to become an "oversupplied" or "Buyer's Market" once again (see graph).
In the first quarter of 2017, there were 59 sales closed on Daniel Island, and the current inventory is 158 active listings (includes single family detached, townhomes and condos). This equates to 8 months' inventory. So the trend is definitely accelerating.! (See chart of absorption rates by MLS Area provided by Charleston Real Estate Stats).
Homes are still selling on Daniel Island, but the market appears to not longer be supporting such "bullish" prices any longer. Strategic market pricing is KEY to be able to sell your Daniel island home in this changing marketplace.
Call us on 843-900-0155 to get a free, no-obligation pricing and marketing consultation.
