You might consider this blog post a demonstration of the dynamic of supply and demand. It is not, however, intended to be an accurate representation of the entire rental market on Isle of Palms. I only mention a few oceanfront properties in a small section of the island. Prices are approximate as of February 2012. Some properties are handled by a realtor - and there are many realtors on the island handling the rental market - and some properties are handled by the owner through VRBO or some other company. Note that condo prices are per month, house prices are per week.
Sea Cabins - 1 bedroom condo, $1,100 per month winter vs. $7,000 per month summer
Dunescape - 3 bedroom condo, $2,800 per month winter vs. $13,000 per month summer
1116 Ocean Blvd. - 3 bedroom condo, $2,000 per month winter vs. $14,000 per month summer
1140 Ocean Blvd. - 3 bedroom condo, $3,000 per month winter vs. $14,000 per month summer
Casa Banana - 6 bedroom house, $3,900 per week winter vs. $11,900 per week summer
Casa Margarita - 10 bedroom house, $4,800 per week winter vs. $14,800 per week summer
In winter, the supply is high but demand is low. In summer, the supply is scarce and demand is high. Some of the winter rates are negotiable even lower than listed above. Isle of Palms sure is a nice place to visit but it is pricey to live or stay right on the ocean. I suspect that Florida has the only "affordable" oceanfront living in today's U.S. real estate market. Hmmmm?
Casa Flamingo - 8 bedroom house, $4,800 per week winter vs. $14,800 per week summer.
Casa Margarita - 10 bedroom house, $4,800 per week winter vs. $14,800 per week summer
In winter, the supply is high but demand is low. In summer, the supply is scarce and demand is high. Some of the winter rates are negotiable even lower than listed above. Isle of Palms sure is a nice place to visit but it is pricey to live or stay right on the ocean. I suspect that Florida has the only "affordable" oceanfront living in today's U.S. real estate market. Hmmmm?
I have been down there for several vacations before with my family and it is a very nice area to be in. That's why we were motivated to look for some Isle of Palms real estate because we would like to go down there every summer. Can't wait until we find the right place for us!
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