A Look Back – Through The Pandemic Years- Charleston SC MLS –

In January 2020, the median sales price in the Charleston MLS was $284,900. By May 2022, it had risen to $420,000. For most of the last three years, the median sales price has remained in a tight band between $400,000 and $425,000. The Charleston median sales price has now reached $430,000 and surpassed this trend.

Mortgage Rates
The 30-year fixed mortgage interest rate was 3.5% in January 2020, making the median price of $284,900 very affordable.  Mortgage rates went as low as 2.65% in January of 2021 and eventually peaked at approximately 7.79% in October 2023. These low rates spurred a frenzy of buying activity throughout the Pandemic years. Today, rates are hovering around 6.58% per Freddie Mac. Future rate predictions are mixed – only time can truly tell the trajectory. View rates at Freddie Mac

Gena Glaze