The average home price is down in our market, but there is a big opportunity for investors right now. Here’s what you need to know.
I’m back with another real estate healthy habit for you. Today, I’m advising you to consider buying beach investment property in 2018.
Why do I think it’s such a good idea? Most of it is based on 2017. At the beginning of 2017, I thought we’d see a great year for home sales. That turned out to be the case in the end. In Isle of Palms alone, there were 169 closed home sales in 2017. That’s a 15% jump from the 147 sales they had in 2016. That number jumps to 31% when you’re looking at condo sales.
The average home price is down in our market, but the reason for the drop isn’t because prices are going down. The average is going down because there are so many homes selling in the lower price ranges.
I think this is going to be an excellent year to invest in Isle of Palms real estate. This area is seeing some big jumps and I believe that growth is going to continue for the foreseeable future.
With the economy doing so well, a lot of investors are going to turn to real estate as an investment vehicle. I’ve taken my own advice and already purchased an investment property in Isle of Palms. If you have any questions or want to take my advice as well, give me a call or send me an email. I look forward to hearing from you soon.