Buying or selling real estate in Charleston, SC? Wondering what the current state and future outlook of the real estate market looks like?
Get the answers you need below.
Market Forecast & Real Estate Stats
Here are the latest real estate statistics in Charleston, SC.
- The average home value in Charleston is $328,110, up 1% year-over-year
- Home values in Charleston are predicted to rise at a rate of 1.6% in the next year
- The median list price per square foot in Charleston is $214
- The average home in Charleston spends 106 days on the market
After a lot of growth, home values in Charleston are not increasing as quickly as they did in previous years.
However, homes in the area continue to maintain these high values, so the overall market outlook is strong.
Most & Least Expensive Areas
The most expensive areas around Charleston include:
- Downtown Charleston – Median home value of $2,793,539
- Daniel Island – Median home value of $889,529
- Mount Pleasant – Median home value of $790,165
The least expensive areas around Charleston include:
- Riverford Terrace – Median home value of $244,000
- South of Broad – Median home value of $269,400
- Wagener Terrace – Median home value of $269,400
Is It Time To Buy Or Sell?
The market in Charleston is cooling off somewhat, so it’s becoming better for buyers. Prices rose precipitously from 2012-2019, and have now leveled off.
Sellers are beginning to drop prices. The average time on the market has increased by nearly 20 days since May of 2019, and 13.4% of listings have had their prices cut in the past month.