Holden Beach Market Update: First Quarter 2024

The first quarter of 2024 highlighted the resilience and growth of the Holden Beach market. Despite slight declines in overall sales volume, the market experienced significant gains in average listing and sales prices, reflecting sustained demand and robust value appreciation. A reduction in average days on market further underscores the competitive nature of the current landscape, making Holden Beach an attractive area for both buyers and sellers.

Holden Beach Market Update Overview

The first quarter revealed an 11% increase in average sales prices compared to the same period in 2023, demonstrating that the Holden Beach market remains a desirable location for property investments. However, sales volume showed a slight 4% year-over-year decline. Nevertheless, the uptick in prices suggests strong buyer confidence and the enduring appeal of the Holden Beach area.

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Property Type Breakdown

The Holden Beach market consists of a variety of property types, each contributing uniquely to the overall market dynamics. Below is a detailed breakdown of key property types and their performance during the first quarter of 2024:

Oceanfront Properties

Oceanfront properties remain a staple of the Holden Beach market, offering unparalleled access to the Atlantic Ocean. During Q1, seven oceanfront properties were sold. The average list price for these homes was $2,049,286, while the average sales price was $1,852,649, resulting in a sales price-to-list price ratio of 90%. These homes spent an average of 82 days on the market, indicating steady demand despite their premium pricing.

Second Row Properties

Second row properties, which provide close proximity to the ocean without the premium pricing of oceanfront homes, saw four sales in the first quarter. The average list price for these homes was $1,107,000, and the average sales price was $1,068,750, achieving a strong 97% sales price-to-list price ratio. These properties sold relatively quickly, with an average of just 37 days on the market.

Canal Properties

Canal properties, offering waterway access and scenic views, recorded two sales during Q1. These properties had an average list price of $710,000 and an average sales price of $661,278, equating to a 93% sales price-to-list price ratio. On average, canal properties remained on the market for 68 days, reflecting a niche yet steady demand for this type of real estate.

Dune Properties

Dune properties, which typically offer a blend of natural beauty and beach access, performed well in the first quarter with nine recorded sales. The average list price for dune properties was $944,989, and the average sales price was $927,667, yielding an impressive 98% sales price-to-list price ratio. These homes averaged 44 days on the market, underscoring their appeal to buyers seeking a balance between proximity to the beach and affordability compared to oceanfront homes.

Intracoastal Waterway (ICW) Properties

Intracoastal Waterway properties, prized for their tranquil settings and easy access to boating activities, recorded two sales during the first quarter. The average list price for these homes was $1,537,000, while the average sales price was $1,407,500, resulting in a 92% sales price-to-list price ratio. These properties moved quickly, with an average of only 30 days on the market, highlighting their desirability among waterfront property buyers.

Conclusion

The first quarter of 2024 has proven that Holden Beach continues to thrive as a competitive and dynamic real estate market. Increasing property values and relatively short timeframes for sales reflect the area’s enduring appeal to a wide range of buyers, from vacation homeowners to full-time residents. While some buyers may face challenges from limited inventory and rising prices, sellers are benefiting from strong demand and favorable market conditions.

For prospective buyers, understanding the unique characteristics of each property type—whether oceanfront, second row, canal, dune, or ICW—is crucial to making an informed decision. Sellers, on the other hand, can take confidence in the market’s performance as they position their properties for sale.

The Holden Beach market remains a vibrant and rewarding space for real estate. Whether you’re planning to buy or sell, aligning with experienced local professionals who understand the nuances of the market will ensure the best outcomes in this ever-evolving environment.