The February 7, 2023 vote to cap short-term rental licenses on Folly Beach stands as a textbook example of how thoughtful, balanced policymaking can safeguard both the character of our community and the long-term value of our real estate. By setting clear limits that preserve neighborhood integrity and manage STR impacts, Folly Beach has fostered an environment in which property values have continued to appreciate.
Below is a side-by-side comparison of key single-family detached metrics on Folly Beach at the time of the short-term-rental-cap vote (February 2023) versus the most recent 2025 report:
| Metric | Feb 2023 | 2025 (as of June 9) | Change |
|---|---|---|---|
| Median Sales Price | $1,400,000 | $1,721,500 | +22.96% |
| Average Sales Price | $1,266,667 | $1,638,833 | +29.44% |
| % of Original List Price Received | 99.0% | 95.7% | –3.3 pts |
| Days on Market (DOM) | 16 days | 54 days | +238% |
| Inventory of Homes for Sale | 17 homes | 43 homes | +153% |
Source: CTAR Market Reports Feb 2023 | May 2025
Key takeaways:
- Prices are up sharply since the cap vote: median prices rose nearly 23% and averages almost 30%.
- Seller leverage has eased a bit: the average sale is now coming in at about 95.7% of list, down from 99%.
- Market pace has slowed (DOM up from 16 to 54 days) even as inventory more than doubled, indicating a shift toward a more balanced market.
This data illustrates that, since the vote for the STR Cap, Folly Beach home prices have continued to climb through mid-2025. This represents a huge win for Folly Beach, as we were able to balance the needs of investors with the needs of our resident community. Going forward, I pledge to protect the Cap and work to ensure that our resident community continues to thrive.
Historical Market Perspective
Folly Beach’s real estate market has demonstrated remarkable resilience and growth over the past six years. In 2019, the median sale price for a single-family home stood at $900,000; by mid-2025, that figure has surged to $1,721,500—a staggering 91.3% increase.
By comparison, a healthy coastal market typically sees annual appreciation in the 3–5% range, which would translate to roughly 25–30% growth over six years. This means Folly Beach has more than tripled the “normal” return, underscoring the exceptional appeal of our beachfront community.
| Market | 2019 Median Price | 2025 Median Price | % Change |
|---|---|---|---|
| Folly Beach | $900,000 | $1,721,500 | +91.3% |
