Beaufort, SC real estate watchers have been waiting for years for something to happen at the end of Paris Avenue, in old Port Royal. That is where the state of South Carolina formerly operated a port along the banks of Battery Creek, which is considered some of the best deep-water property in the Southeast.
On Saturday, the Beaufort Gazetted reported that an almost $17 million sales contract has been signed on the property. Read more in the Beaufort Gazette.
Several years ago, South Carolina Gov. Mark Sanford signed a bill ordering the sale of the 50 +/- acre property, so that the prime waterfront property could be developed after years of being fenced off from the general public. After the signing of the bill, the excitement surrounding Port Royal's real estate scene reached fever pitch, as buyers lined up for the opportunity to become owners of what was considered to be prized real estate. Values in Port Royal went through the roof. Years have gone by, and real estate fever has cooled in Port Royal, the sister city to Beaufort, SC.
So, what will this sale do for the area's real estate market? It's hard to say. We'll let you know as things progress. For more information, visit www.ExploreBeaufortRealEstate.com, or email kstrawn@ExploreBeaufortRealEstate.com.
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