Barefoot Real Estate Year End Report for 2023

# of
Days on
Sale price
Sale price
Sale price
Arbor Trace 11 72 285k 238k 259k
Blackwater 5 58 432k 499k 469k
Clearwater Bay 9 122 550k 362k 435k
Cypress Bend 14 79 349k 200k 262k
Dye Townhomes 19 166 600k 469k 527k
Edgewater 28 93 620k 225k 377k
Egret Run 2 83 440k 365k 402k
Greenbrier 1 105 375k
Harbour Cove 9 75 384k 295k 349k
Havens 28 84 475k 230k 320k
Heron Bay 3 77 399k 365k 378k
Ironwood 21 65 340k 220k 273k
River Crossing 18 97 300k 205k 246k
Tanglewood 6 151 415k 340k 378k
Townes @ Barefoot 49 114 520k 387k NEW
Wedgewood 10 65 280k 181k 248k
Willow Bend 28 74 330k 223k 264k
Woodlands 1 114 335k
Single Family 21 89 645k 402k 503k
Leatherleaf 3 120 722k 670k 689k
Dye Estates 2 63 1.8m 1.1m

Higher mortgage rates aren’t just affecting buyers. Many current homeowners purchased or refinanced their homes in 2020 or 2021, when mortgage rates were several percentage points lower than today’s rates. And while those pandemic-era mortgages have been a blessing for many homeowners, they’ve also kept others from moving. Rather than give up their current mortgage rate for a higher rate and a more expensive monthly payment, some would-be sellers have chosen to put their moving plans on hold, further limiting the number of homes for sale and driving up home prices in the process.

Sales: Closed sales for Single-Family homes were down 7.9 percent to end the year. Condo homes closed sales were down 18.3 percent to end the year.

Listings: Comparing 2023 to the prior year, the number of homes available for sale for Single-Family homes was down by 2.4 percent, while Condo homes were up 48.7 percent.

Prices: Home prices were up compared to last year. Single Family home prices were up 1.4 percent compared to last year, and Condo home prices were up 8.7 percent.

Mortgage rates have been dropping in recent months, which should help bring buyers and sellers back to the market and could lead to an uptick in both home sales and housing supply. Affordability will still prove challenging for many homebuyers, however, and economists predict U.S. home sales will remain down compared to 2019 – 2022.

These statistics courtesy of Coastal Carolina Association of Realtors.