The Real estate market is still active and the median sales price continues to remain steady – It has been roughly between 400k and 425K for over 24 months. Inventory is still below what is needed for a balanced market, but new listings are rising. Below are July 2024 calculations.
PRICE: The median sales price was $425,473, up about 5% from July 2023. The average sales price was $658,344. The median price per sqft was $228 and the average was $300 / sqft
NEW SALES: Pending sales for July were at 2,139 up 15.3 from July 2023
SUPPLY: There were 2139 New Listings in July 2024 – up 15.6%. The median days on market was 20, with approximately 2.9 months of inventory. Still under the 5 months of inventory recommended for a balanced market.
CLOSED SALES: 382 properties closed in July 2024 which is up 10 percent from July of 2023.
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Real Estate Matters in Charleston SC - Gena Glaze 