Sullivan's Island Real Estate

The Sullivan’s Island housing market is not very competitive, reflecting a clear cooling trend. The median sale price dropped 14.5% year-over-year to $4.2M, while the median price per square foot fell sharply by 28.7% to $1.35K. These declines suggest softening demand at the high-end luxury level, giving buyers greater negotiating power and more opportunities to secure properties below peak market values. Sellers may need to adjust pricing expectations or offer incentives to attract serious buyers in this slower market.

Sullivan’s Island is not very competitive, with homes taking an average of 118 days to go pending and multiple offers being rare. Most properties sell for about 4% below the list price, giving buyers significant negotiating leverage in this luxury market. However, well-priced or highly desirable homes can still generate quicker interest, selling for about 1% below asking and going under contract in roughly 69 days. Overall, the market favors buyers, but standout properties can move faster when competitively priced.

Sullivan’s Island, SC is a buyer’s market in June 2025, meaning there are more homes available than there are buyers actively looking, creating favorable conditions for purchasers. With high inventory and reduced competition, buyers have more negotiating power on pricing, contingencies, and closing terms. Sellers, on the other hand, may need to adjust expectations, offering price reductions or incentives to attract interest. This environment allows buyers to take their time evaluating options and potentially secure luxury properties at more competitive prices.