Lady's Island Waterfront Lots Once Again Affordable as Prices Fall

Posted by Todd Covington on Wednesday, November 2nd, 2011 at 1:11am.

ladys_island_deep_water_lot_400A few years ago, if you put the words "deep-water homesite" in the same sentence with "Lady's Island,"  you were generally talking about a property which would cost a minimum of $600,000, maybe more.

Not so, anymore.

Like every other segment of Beaufort's real estate market, the Lady's Island deep-water market has responded to the sluggish sales of recent years, and prices have been reduced. It's now possible to purchase a homesite with spectacular views of downtown Beaufort, with deep-water access, for under $200,000. Please note that this particular property comes with an asterisk, since this $175,000 property, overlooking Factory Creek and the Beaufort River, can possibly be purchased with a slip at the adjacent marina. Without the slip, which the owner has indicated would be available, the site just has a nice view.

However, there are an abundance of opportunities to purchase homesites where the water comes right into your back yard.

On Distant Island, where deep-water homesites once commanded more than $900,000, homesites have sold in the past year or so for under $400,000. The most affordable deep-water site offered on Distant Island has been reduced to $545,000, and can probably be had for less than that. This breathtaking homesite enjoys western exposure and has the largest dock float in the community. For more money, this is one of the best waterfront lots on Lady's Island.

On Vivians island, which sits right on the Intracoastal Waterway, a deep-water homesite, once listed for $489,000, is available for $289,000. Vivians Island is gorgeous, no doubt, but it has an asterisk of its own. It is located right across the water from Marine Corps Air Station Beaufort, and Marine and Naval aviators land right over the island. Yes, the jets are loud, although the noise is overrated, if you ask me. I lived in Habersham, another community in the AICUZ noise zone, for two years. While the noise is tremendous for short periods of time, you can go months without hearing a jet.

There are currently 39 deep-water homesites available on Lady's Island. The median asking price is $499,000. The median asking price would have easily been $100,000 to $200,000 more a few years ago.

Lady's Island is one of Beaufort's premier and most sought-after residential areas. Connected to downtown Beaufort by a charming old swing bridge, and to Port Royal by the newer, taller McTeer Bridge, Lady's Island has seen as much new construction as anywhere in the Beaufort in recent years. You can now purchase a home for under $100,000 on Lady's Island, all the way up to waterfront properties which are listed in excess of $2 million.

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