The latest monthly housing report from Realtor.com® reveals that the typical listed price per square foot grew by a whopping 52.7% from May 2019 to May 2024.
The price per square foot is a crucial metric in real estate because it allows for easy comparison between different properties, regardless of their size. And while this is valuable information, it’s only one data point of many that buyers and sellers should consider.
Examining the markets with the steepest rises in price per square foot reveals substantial growth in popular metropolitan areas. Based on listing price, properties in the New York City metro area (+84.7%), Boston (+72.9%), and Nashville, TN (+68.6%), have seen the great increases in price per square foot since May 2019.
LOCAL – CHARLESTON MLS
Locally, our median price per sqft has increased about 65% from May of 2019 to May of 2024. Our median price per/sqft in May of 2019 was $150 / sqft and in May of 2024 it was $229 / sqft .
Our median sales price has increased about 67% from May of 2019 to May of 2024. Our median sales price in May of 2019 was $285,000 and in May of 2024 it was $425,000
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Real Estate Matters in Charleston SC - Gena Glaze 