Charleston Market Update

Charleston Market Update
Charleston Market Update - April 2024

Charleston Market Update - April 2024

Sales Activity

  • Closed Sales: 15 properties sold in April 2024, two more than March but below the monthly average and median. Year-to-date sales totaled 56, which is six more than the same period in 2023.
  • Sale Prices: The 12-month rolling average sale price decreased by 1.6% from March to $156,763, continuing a two-month decline. The median sale price remained unchanged at $129,950.

Inventory

  • New Listings: Only 15 new properties entered the market in April, significantly below the monthly average of 24.5. This is a decrease of seven listings from March and nine fewer than April 2023. Year-to-date, there have been 75 new listings, 11% below the average and 4% below the median.
  • Active Listings: Active inventory dropped by six units from March, leaving only 12 properties on the market at the end of April. The current inventory represents less than a three-week supply.

Market Demand

  • Pending Sales: April saw 21 new pending sales, one unit below both the average and median, and a decrease compared to both March and April 2023.
  • Days on Market (DOM): The 12-month rolling average DOM decreased by one day to 25 days, setting a new record low. The median DOM held steady at 5 days for the 15th consecutive month.
Graph showing Charleston Units in April 2024

Charleston's Market (Rolling 12-Months)

CategoryApril 2024April 2023% Change
Interest Rate7.00%6.10%14%
New Listings2372313%
New Pendings22920810%
Sold Units23020015%
Volume$36,055,446$31,803,48213%
Avg. Sale Price$156,763$159,017-1%
Med. Sale Price$129,950$125,0004%
Avg. DOM2529-15%
Med. DOM550%

Sold Units by Sale Price

Sale Price2024 YTDYTD Average% Change
< $50,000711.6-40%
$50,000-$74,99919.7-90%
$75,000-$99,99978.8-20%
$100,000-$124,999117.645%
$125,000-$149,99987.57%
$150,000-$174,99963.858%
$175,000-$199,99963.382%
$200,000-$249,99943.225%
$250,000-$299,99922.3-13%
$300,000-$349,99921.267%
$350,000-$399,99920.6233%
$400,000-$449,99900.6-100%
$450,000-$499,99900.3-100%
$500,00000.3-100%
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