Thursday, October 17, 2013
A historic summer residence on Pawleys Island called “The Pawley House,” has sold for $2.45 million after only 77 days on the market.
It was listed at $2.89 million.
This is one of only three historic homes on the island that has sold in the last 20 years, according to The Lachicotte Company, an exclusive affiliate of Christie's International Real Estate, which represented both the seller and the buyer of the home.
Nancy Siau, a Realtor with The Lachicotte Company and a Christie's specialist, said although this house was never owned by the Pawley family, as the name would suggest, it was the setting of Dorothea Benton Frank's novel “Pawleys Island.”
And it was owned by two former South Carolina governors, one of which was Joseph Blythe Allston.
She said that the sale of this house is a good sign for the housing market, especially on Pawleys Island.
The number of houses sold on the island has increased from seven last year to 13 this year, according to data from The Lachicotte Company.
The highest list price also increased from $1.7 million to $2.9 million, according to the data.
Siau pointed out that while The Lachicotte Company and Pawleys Island Realty had the majority of the sales, there were listings from other companies as well.
“I take it as a positive sign for the island,” Siau said. “There was quite a bit of showing for this property and there were many qualified buyers.”
Steeped in history
According to a press release by The Lachicotte Company, the Pawley House is steeped in local and state history and is considered to be one of the first, if not the first, summer residence on Pawleys Island.
The sale of the property “represents our locally grown and globally known network of resources, well qualified clientele and superior properties.”
The release also states, “Christie's International Real Estate works with Affiliates that are hand selected for their expertise and their extraordinary level of service. The Lachicotte Company, along with Christie's International Real Estate, allows us to bring the world's most desired luxury homes to the world's most discerning buyers.”
The Pawley House received global exposure through the Christie's network of real estate affiliates and is featured in the current issue of Christie's Real Estate magazine.
According to Katherine Richardson, author of “Pawleys Island, Historically Speaking,” the house dates back to the late 18th or early 19th century, but it doesn't show up on plats until the mid-1860's.
The recent successful sale of the Pawley House, a coveted historic island icon, represents The Lachicotte Company's locally grown and globally known network of resources.
“We were able to draw from our local relationships both from the listing side and the selling side in this transaction,” said BIC Lou Lachicotte.
According to the buyer's representative, Chuck Cooper, “qualified clientele combined with superior properties to offer, afforded us the opportunity to move swiftly and secure a buyer in a timely manner.”
“The challenge was to expose the property to buyers that would appreciate the historic aspect,” Saui said.
“The fact that the buyers are residents of our community confirms the understanding that this is a rare treasure.”
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