Isle of Palms Home Prices & Values

$677,400 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 0.9% 1-year change
  • -0.7% 1-year forecast

The median home value in Isle of Palms is $677,400. Isle of Palms home values have gone up 0.9% over the past year and Zillow predicts they will fall -0.7% within the next year. The median list price per square foot in Isle of Palms is $411, which is higher than the Charleston Metro average of $143. The median price of homes currently listed in Isle of Palms is $799,000 while the median price of homes that sold is $519,615. The median rent price in Isle of Palms is $2,800, which is higher than the Charleston Metro median of $1,300.

Foreclosures will be a factor impacting home values in the next several years. In Isle of Palms 3.0 homes are foreclosed (per 10,000). This is lower than the Charleston Metro value of 6.0 and also lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Isle of Palms is 6.4%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Isle of Palms homeowners underwater on their mortgage is 8.5%, which is lower than Charleston Metro at 18.7%.

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Relative ZHVI
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Isle of Palms Market Overview

Data through Aug 31, 2014
  • $677,400 ZHVI
  • -0.7% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Aug 31, 2015)
  • $799,000 Median listing price
  • $519,615 Median sale price
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Isle of Palms Market Health

Data through Aug 31, 2014
  • 3.4/10 Less healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average days on Zillow
  • 8.5% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 6.4% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)

Homes foreclosed (per 10,000)

3 homes Isle of Palms
6 homes Charleston Metro
4.3 homes United States
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Sullivans Island $1,211,600 Folly Beach $520,700 Mount Pleasant $341,600
Awendaw $306,100 Charleston $224,300 Hanahan $174,500
Huger $166,900 Goose Creek $141,700 North Charleston $119,800

Listings & Sales

Data through Aug 31, 2014
  • $411 Median list price / sq ft
  • $353 Median sale price / sq ft
  • 29.1% Listings with price cut
25.4%
Sold below listing
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Isle of Palms Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$3,016 Isle of Palms
$1,373 Charleston Metro
$1,328 United States
  • 4.8 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2014)
  • $2,800 Rent list price
  • $1.60 Rent list price / sq ft
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