Charleston real estate market trends
Charts and statistics of sales activity and median and average prices in the Charleston real estate market. These statistics reflect all Charleston housing classifications and you can look for statistical breakdowns by price range and housing type in the next few days.
Statistics compiled by Howard Arnoff using the Charleston MLS as the source of data, information deemed reliable but not guaranteed.
Clearly, you can see sharply lower sales activity in the past 12 months compared to the previous 12 months. And as you all know, inventory is still at ridiculously high levels so how are Charleston home prices holding up.
For the first time, we are seeing a little decline in prices on both a median and average basis in the market. This is certainly not unexpected, what is unexpected is that it took so long for the Charleston real estate market to defy the laws of supply and demand. On a positive note for Charleston home owners, prices have not declined as dramatically as in other real estate markets around the country. And on a positive note for Charleston home buyers, there is a lot of available inventory to choose from, many motivated sellers and you have an opportunity to purchase at very advantageous prices.