Charleston Market Keeps Going Strong!

Charleston Market Shows No Signs of Slowing Down

The Charleston real estate market has experienced record-breaking numbers in 2020 and made national news. The National Association of Realtors just named Charleston/ North Charleston as one of the top ten markets showing resiliency during the pandemic and one that is expected to continue to perform well into post-Covid times.

Statistically speaking, we are up 15.6% in transactions year-over-year and last year was previously our best year to date. Median sales are also up 8.4% during the same time period and the median sales price regionally is now $305,000. Paired with increased demand, we're also seeing record low inventory. Typically the Charleston market has between 5,000 and 5,500 homes for sale. We're now at only 2,300. New home builders cannot keep up with the strong demand.

Another interesting change we've experienced in 2020 is the increase in $1M+ home sales. During the summer months of 2019, we averaged 60 1M+ monthly home sales. That number has more than doubled in 2020.

If you've considered buying or selling in Charleston, contact me directly at margaretmarcoe@gmail.com.