Mortgage Broker in Sullivan's Island, SC

There are expensive places to live in South Carolina.

Then there is Sullivan’s Island.

CashNetUSA recently ranked Sullivan’s Island as the most expensive neighborhood in South Carolina. The ranking is part of a list of most expensive neighborhoods in every U.S. state, based on Zillow data.

Home prices across South Carolina overall have skyrocketed the last two years. For instance, the median home sales price in the state was $311,032 in the first quarter of 2023, up 22% from the first quarter of 2021, according to South Carolina Realtors.

And yet, that is all chump change compared to home ownership in Sullivan’s Island. A home there costs an average of about $5.4 million, the ranking states.

The 2.5 mile-long barrier island and its charming little beach town is about 10 miles from downtown Charleston. The island has a strict preservation plan and so doesn’t have the usual accommodations that visitors would expect, like major hotels and motels. Instead, only vacation rental homes are available.

The island does feature a strong restaurant scene, with plenty of options for fine dining and family eating.

Sullivan’s Island also has a good bit of history. The island was settled in the late 17th Century by Capt. Florence O’Sullivan and was later the site of a major Revolutionary War battle.

To compile the rankings, CashNetUSA used real estate data from Zillow to group together neighborhoods of towns and cities in all 50 U.S. states. It then calculated the average price in each neighborhood by adding together the house prices in each area and dividing them by the number of properties.

Why Sullivan’s Island is pricey, it is still not among the top most expensive places to live in the U.S. Below is a list of the 10 most expensive neighborhoods in the U.S. and their average house prices, according to CashNetUSA.

To keep things more in perspective, here’s an interactive map that shows the latest median sales price for homes in each South Carolina county, using data from .

Multiple venomous Portuguese man-of-wars recently washed up on the shores of Sullivan’s Island. Town officials, who warned beach-goers to be cautious, said the jellyfish-like animals were swept toward the Charleston area by recent wind circulation from warm water near the Gulf Stream.

“Although the colder water near the beach may kill the Man-of-War, it still has the capacity to sting and cause pain,” said Town Administrator Andy Benke.

The animal, which is closely related to the jellyfish, has long venomous tentacles that can inflict a painful sting. If stung, the suggested remedy is to rinse immediately with salt water to wash away any microscopic nematocysts. Studies show fresh water is less effective as a treatment.

In other headlines:

CofC to unveil portrait of McConnell on anniversary of secession. The College of Charleston will unveil a portrait of former President Glenn McConnell in a private ceremony to be held Dec. 20, the 162nd anniversary of South Carolina’s secession from the union. McConnell, a former state senator and lieutenant governor, has been a Civil War reenactor.

Pop-up skating rinks a popular trend in Charleston. Charlestonians are flocking to pop-up ice skating rinks across the city to enjoy the winter season. Places such as Credit One Stadium, Charleston Harbor Resort and Marina and one coming to Folly Beach Dec. 23 use synthetic ice to replicate the ice skating in Charleston, where it rarely freezes in December..

Charleston Co. tables vote for I-526 expansion. Charleston County Council voted to wait until January to make any final decisions regarding the expansion of I-526. County officials identified $75 million available from the transportation sales tax that could be used to advance the interstate’s expansion.

Most S.C. workers could see less in taxes deducted in 2023. The state’s top income tax rate was reduced from 7% to 6.5% by legislators in 2022, according to the South Carolina Department of Revenue. The amount of change will depend on a number of factors for each individual, but many state workers should expect to see taxes go down.

S.C.’s Dominion given OK to raise electric rates. Dominion Energy was given permission Dec. 15 to raise the electric rates of South Carolina residents to help offset a spike in natural gas and coal expenses this year.

To get dozens of South Carolina news stories every business day, contact the folks at SC Clips.

SULLIVAN’S ISLAND — The home market continues to sizzle in this pricey seaside town, with real estate agents pointing to its community appeal, a longtime ban on short-term rentals and resilient, well-heeled cash buyers among the driving forces.

So far this year, three big-ticket residential transactions have closed on Sullivan’s Island, ranging from nearly $8 million to slightly more than $10 million.

Sullivan’s commands a premium partly because it offers limited inventory in a highly desirable location, according to agents familiar with the local market. Some also point to the lack of rentals.

“There is not a transient population out there,” said Lyles Geer, president and broker-in-charge of William Means Real Estate. “You don’t have an abundance of renters or people who don’t live out there. ... Buyers are paying for the exclusivity of living in a residential community.”

Michael Scarafile, president of Carolina One Real Estate, echoed his remarks.

“One reason is that Sullivan’s doesn’t allow short-term rentals,” he said. “Those are all residential sales.”

Scarafile pointed to the recent run of seven- and eight-figure purchases as an example of the age-old principle of supply and demand.

“There just aren’t that many houses on Sullivan’s, and the market for residential use on the islands continues to perform well,” he said. “The high-end market is holding up very well.”

Owen Tyler, managing broker of Cassina Real Estate Group, agreed prices on Sullivan’s are rising because of the dearth of inventory and continued interest among would-be buyers from outside the region or state.

“They aren’t building more of the island,” he said.

Tyler also pointed to a community-minded vibe on Sullivan’s as an attraction for buyers who can afford the lifestyle.

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“Sullivan’s Island has always been for a lot of people the epitome of where they want to live,” he said. “It has great beaches, it’s an island and it has a small-town atmosphere. Nothing feels out of place or unusual.”

But Tyler doesn’t buy the notion that the town’s 22-year-old rental policy of not allowing overnight stays of less than 28 days has an impact on home sales.

“Are people wanting to live there because of a lack of short-term rentals? Maybe, but I don’t ever hear that,” he said. “Most of the people who are buying recently are not full-time residents of Sullivan’s.”

To Tyler, the main factor driving up prices is an abundance of deep-pocketed buyers who are able to make quick and mostly cash offers for an extremely limited number of homes.

“We can’t find enough people to sell (homes), which is why you are seeing the price escalation,” he said.

The most recent transaction involved the five-bedroom oceanfront house with five bathrooms and two half baths at 3213 Middle St. It changed hands March 29 at the list price of $7.95 million, according to Charleston County land records.

The buyer is a limited liability company from Florence. The seller is a Charlotte firm that bought the property when it was a vacant lot for $2.5 million in 2020. The 4,160-square-foot house near Breach Inlet was completed the next year.

Ashley Haynes of East Islands Real Estate represented the seller, and Tommy Manous of Carolina One Real Estate represented the buyer.

The sale follows two other notable residential transactions on Sullivan’s.

A 4,350-square-foot oceanside house at 2411 Atlantic Ave. last month fetched $10.1 million, shy of the all-time record of $10.5 million a buyer paid for 1901 Thee St. in 2021.

Earlier this year, a 4,360-square-foot spread at 812 Conquest Ave. on the western end of Sullivan’s changed hands for $8.7 million.

SULLIVAN’S ISLAND, S.C. (WCBD) – The South Carolina Circuit Court has ruled to preserve the Sullivan’s Island Maritime Forest. This comes after the town’s previous council approved a settlement agreement that would allow development to take place where the forest currently sits.

The circuit court ruled in favor of the Town of Sullivan’s Island’s request to invalidate the settlement agreement that was agreed upon by the previous town council.

“I was thrilled,” Sullivan’s Island resident Cyndy Ewing said. “It’s a monumental ruling.”

Many Sullivan’s Island neighbors and elected officials are pleased with the ruling that will protect the island’s 200-acre maritime forest from development.

“The judge agreed that that agreement was not legal under state law,” Sullivan’s Island Mayor Patrick O’Neil said. “And one main issue there was that one sitting council for a municipality may not tie the hands of subsequent councils for a municipality.”

The ruling, which was handed down earlier this week, gives Sullivan’s Island Town Council complete authority over the forest.

“They can talk about how we can manage this land for the safety and enjoyment of all the residents,” Ewing said. “It’s thrilling.”

Ewing is thrilled because she says without the forest, the island would be nearly uninhabitable.

“It actually holds the land,” she said, “the plants out here, hold our land together. It also protects us from storm surge and hurricanes and flooding.”

In addition to keeping the island whole, and protecting residents from storms, O’Neil says the maritime forest is special for another reason.

“This is land which has been growing,” he said, “it’s been accreting. Whereas nearly every other barrier island along the East Coast is eroding. So, our island is getting bigger.”

Town residents say after years of dispute, they’re elated the court finally saw the forest for the trees.

“What we are looking forward to is being able to celebrate this incredible resource that we’ve been given instead of having to fight to protect it,” Ewing said.

SULLIVANS ISLAND, S.C. (WCIV) — Circuit Court Judge Jennifer McCoy sided with Sullivan's Island to allow Town Council members to reintroduce protective guidelines for the forest.

For years, neighbors have been concerned about others cutting down trees to get better views of the ocean. In 2020, previous Town Council members entered into an agreement that would allow selective trimming of the forest.

Read More: Judge sides with Town of Sullivan's Island in Maritime Forest cutting dispute

"In 2020, there was a divided Town Council agreement to settle a long standing lawsuit that started in 2010," Cyndy Ewing with Sullivan's Island for All said. "And it was four to three."

"The lawsuit agreement took away the governing rights of Town Council members, so they were not allowed to talk about the land, trees, or any kind of management," she continued. "It was taking away a personal freedom and the government's ability to govern."

This new ruling from McCoy means the town is no longer obligated to follow that previous decision.

Circuit Court Judge Jennifer McCoy sided with Sullivan's Island to allow Town Council members to reintroduce protective guidelines for the forest. (WCIV)

"This is huge," Ewing said. "It's put the power of government back into the elected officials hands where it should be."

It's considered a win for preservation groups, who say the lush landscape serves as a home for plants and wildlife, while providing a barrier against storms.

Read More: Illegal cutting of Maritime Forest under investigation; council hires attorney

"Our #1 threat on Sullivan's Island was hurricane storm surge," Ewing said. "And the #1 protection is the trees and shrubs that will stop the storm surge. It's incredibly valuable. And we found out it's even better than building a dune because the trees and shrubs will grow back and we don't have to pay millions of dollars to rebuild a dune."

Sullivan's Island Mayor Pat O'Neil stated he is very pleased the judge agreed the settlement wasn't consistent with the laws of South Carolina.

"We had heard from many, many, many islanders who were very unhappy with that agreement," O'Neil said. "Given that we had a belief that it was not legal, we felt we had an obligation to take it to court. And it turns out, the judge agreed with that contention, so we're quite pleased with that."