Daniel Island experiences surge in home sales

BY JIM PARKER
Of The Post and Courier Staff

A struggling economy and the war with Iraq didn't faze the residential business on Daniel Island: Home sales more than tripled by dollar volume in the first quarter from a year ago.

The 4,000-acre community's sizzling start to 2003 comes after sales jumped 60 percent last year to $100 million. The typically slow month of December proved to be the best month in 2002, with $11.8 million in sales.

The home surge continued into the new year as sales hit $50.7 million in January through March, compared with $13.7 million in the same period a year earlier, according to developer The Daniel Island Co.

Surrounded by rivers and Charleston Harbor, Daniel Island has more than 2,500 residents and 50 businesses. The Berkeley County community, which is within the Charleston city limits, expects eventually to have 6,000 homes, town homes and apartment units. The first home was built in 1996.

First quarter figures included the lightning-quick sale of 49 home sites at the Ralston Point neighborhood. The lots, in the Daniel Island Park country club section, have views of the Wando River, creeks and marshes. With prices from $100,000 to $700,000, the sites sold in a few days.

"In addition to drawing new residents from as far away as California, a number of owners have become so enthusiastic about living in Daniel Island they are further investing in this community by buying additional properties," said Matt Sloan, chief operating officer of The Daniel Island Co.

A number of Ralston Point buyers already have submitted plans to the island's architectural review board.

The home sales surge is not the only bit of news on Daniel Island, host of the Family Circle Tennis Cup last month. Berkeley County schools said the district plans to build a $20 million elementary and middle school on Daniel Island by fall 2005. The private Bishop England High School moved to Daniel Island in 1998.

The planned community has expanded its commercial district as of late. It now includes a supermarket, bank, gas station, medical center office buildings, boutiques and restaurants. The island has parks and swimming pools and is home to Blackbaud Stadium for soccer, a Tom Fazio-designed private golf club and a second private course being designed by Rees Jones.

Jim Parker covers real estate and automotive news. Contact him at 937-5542 or jparker@postandcourier .com.