If you have ever considered buying raw land as an investment, or as a future homesite, the window of opportunity is wide open right now. Over the past 12 months, there have been 329 land sales via the Beaufort County MLS. Conversely, there are currently 1087 land parcels on the market in Beaufort, SC.
In recent months, I have been involved in sales in which homesites in the Beaufort area have sold for 15 to 40 percent of what the previous buyer had paid.
Another stark example of the opportunities in the Beaufort real estate market -- On Fripp Island, an ocean front community just east of downtown Beaufort, there are 118 homesites currently available, versus just 6 sales in the last 12 months.
Comparatively, there are currently 1089 homes on the market via the Beaufort MLS, versus 1657 sales in the last 12 months.
Yes, the homesite market is very much a buyer's market right now, even as the residential market strengthens in Beaufort. Beware of waiting too long for the prfect opportunity, because the land market always strengthens in the wake of the residential market. As a result, the window of opportunity will close at some point.
For more information about opportunities in the Beaufort real estate market, please don't hesitate to email me at firstname.lastname@example.org, or call me at 843.263.6886