Is Charleston, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Charleston is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Charleston has remained a Seller's Market.

Key Takeaway

Charleston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Charleston, SC

How much do homes in Charleston, SC cost?

Median Sold Price

$534,506

$306/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$45,375(+9.3%)

Key Takeaway

Homes in Charleston have sold for 9.3% more than they did a year ago.

Summary: The median home sold price in Charleston was $534,506 in February 2024, up 9.3% from last year, and the median price per square foot was $306.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $285K$280K
-1.8%
2 $340.8K$381.2K
+11.9%
3 $449.7K$476.3K
+5.9%
4 $607.6K$652.5K
+7.4%
5+ $981.5K$1.1M
+12.1%

Summary: Charleston housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.8%, 2 bedroom homes increased by 11.9%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 12.1%.

Median Sold Price Compared To Nearby Cities

Charleston
+9.3%
West Ashley
+8.2%
Charleston Central
+5.8%
James Island
+4.4%
Folly Beach
-4.8%

Housing Supply in Charleston, SC

How many homes are available in Charleston, SC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
9951,163+16.9%

Summary: The Charleston real estate market had 1,163 homes for sale in February 2024, a 16.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 2452
+116.7%
2 190222
+16.8%
3 379455
+20.1%
4 274290
+5.8%
5+ 128144
+12.5%

Summary: The Charleston housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 116.7%, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 20.1%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 12.5%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
189207+9.5%

Asking Price vs. Sold Price

132 Homes Were Sold
Under Asking

41 Homes Were Sold
At Asking

34 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Charleston, you may be able to get a good deal. 63.8% of homes here sold below asking price last month.

Summary: A total of 207 homes were sold or pending in Charleston in February 2024, up by 9.5% month-over-month. Of the 207 sold homes, 64% were sold under asking, 20% were sold at asking, and 16% were sold over asking.

Days on Market for Charleston, SC

We’re sorry, we don't have information for this market at the moment

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 27 Days Ago

Newest Listings in Charleston, SC

Nearby Markets to Charleston, SC

What housing markets are near Charleston, SC?