What Do Recent Charleston Market Trends Mean for You?

Charleston Real Estate Podcast with Dave Friedman

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It's time again for another Charleston real estate market update! What trends have we seen lately and where is our market heading?

Right now, we've already surpassed the amount of homes sold last year, and we plan on clearing 15,000 closed homes! This is the busiest year we've had in 12 years and the third busiest year we've EVER had.

October was a bit slower than September, but that's to be expected. This typical of our market, as October is usually the cool down period after the hot summer months. Many markets in the area have seen median sales prices jump as high as 10%, but most markets are beginning to stabilize, which is great news for our market.

Rates are still fantastically low, as they're floating around 4.2%. This makes now a fantastic time to lock in a low rate on a new home if you're looking to buy! If you're looking to sell, now is a great time as we've seen a dip in inventory and the buyers who are out looking at this time are highly qualified and serious about purchasing soon. Many sellers are getting extraordinary values for their homes, but much of that is dependent on the condition and location.

If you would like a more detailed look at the Charleston market, or if you need real estate assistance of any kind, please don't hesitate to reach out to us. We would love to hear from you!