Category Archives: Market Statistics

NEW SALES – Pending – There were 1,898 new written sales in March 2025, up 7.1% versus March of 2024. This is a good indicator of future closed sales.

CLOSED SALES – There were 1,520 closed sales in March of 2025, down 1.1% from March of 2024

SALES PRICE – The Median sales price closed out at $429,000 in March 2025, up +4.6% over March of 2024 and the average sales price for March 2024 was $666,861, up+11.3%.

INVENTORY – Approximately 2,463 new listings came online in March 2025, which is up +13.2% from March 2024 and the average Days on Market was at 52, up +40.5% from March of 2024 with 3.1 months of inventory (up 24%).

PRICE PER SQFT – The median price per sqft closed out a $240 for March of 2025, up 5.7 % from March of 2024. The average of $309, rose +5.5%.

By County:

Berkeley – Median Price per sqft =$203 | up +2.5%, Average price per sqft $232 | up +2.7%

Charleston – Median Price per sqft =$353 | up +8.3%, Average price per sqft $420 | up+4.7%

Dorchester – Median Price per sqft = $198 | up +7.6%, Average price per sqft $201 | up +5.2%

Gena Glaze

NEW SALES – Pending – There were 1,566 new written sales in February 2025, up 6.0% versus February of 2024.

CLOSED SALES – There were 1,250 closed sales in February of 2025, down 6.3 % from February of 2024

SALES PRICE – The Median sales price closed out at $419,839 in February 2025, up +4.2% over February of 2024 and the average sales price for January 2024 was $647,055, up+12.2%.

INVENTORY – Approximately 2,153 new listings came online in February 2025, which is up +5.2% from February 2024 and the average Days on Market was at 59, up +37.2% from February of 2024 with 3 months of inventory (up 25%)

PRICE PER SQFT – The median price per sqft closed out a $227 for February of 2025, up 6.6%

Closed sales were down year over year but new written sales were up about 6%, which is an indicator of future closed sales. Inventory is improving giving buyers more choice with just modest price gains.  Overall, we have positive indicators for the Spring Market!

Gena Glaze

NEW SALES – Pending (Ratified contracts) Down -6% in August of ’24 versus August of ’23. See Chart below – The orange line represents ratified contracts by week last year…the green line is this year…and the blue line is the 15 year average for each week. Follow the green line below.

*written sales (ratified contracts) reflect buyer sentiment and predict the number of closed sales in a month or two as ratified contracts typically close within 4-8 weeks.

CLOSED SALES 149I homes closed in August 2024 down -7.9% from August of 2023

MEDIAN SALES PRICE The Median sale price in the Charleston market $422,670, up 5.67% from August 2023 and has continued to stay in a tight band between $400k and $425k for most of the last 26+ months.

The Average sales price was $617,873, up 11.54% from August of 2024

AVERAGE SOLD PRICE PER SQFT  While the median sales price is remaining in a tight band, The Average Sold Dollar per sqft remains near an all-time high, at about $291 / SQFT. This means that homes are continuing to appreciate despite a stable median Sale Price

SEASONAL STATS The seasonal surge in median price that is typically experienced in the spring/summer market trended about 6% above last year’s seasonal surge, suggesting that the current pricing in our market has a solid base and given low inventory levels relative to sales, could mean that additional price gains lie ahead.

*Please note that all real estate is local; some local submarkets where there is a lot of new construction in close proximity and similarly priced are seeing prices advance more slowly.

INVENTORY Active Inventory was at approximately 4,000 listings in August, which is a significant increase over the 1,035 listing “floor” that we set in February of 2022. However, we need approximately 3,500 additional listings, market wide, to achieve a balanced market (5 months of inventory). The gap between the number of listings available for sale and the number of listings needed to maintain a balanced market is still substantial. see chart below

Approximately 1,928 new listings came online in August, well ahead of last year’s numbers, which should help drive sales later this year.

The Charleston market has about ten weeks of inventory as a whole, still leaning toward a seller’s market (this varies by price range and specific location). The most active areas have inventory levels are in the 4-6 week range.

NEW CONSTRUCTION New construction represents 45% of all pending contracts in the MLS and comprises about 36% of the closings

FORECLOSURES AND SHORT SALES Foreclosures and Short Sale combined are at 0.9% of all available listings. This is down from 1.8% of all available listings on 1/1/2020. This are very few “newly distressed” properties in the pipeline.

Record home equity is driving the historically low delinquency rate along with high levels of employment. Homeowners do not want to lose their equity.

MILLION DOLLAR PLUS MARKET We are at roughly double the monthly pre-pandemic sales levels of $1MM+ properties. This market segment remains robust.

If you would like more market information or have a real estate need, don’t hesitate to contact me!

Gena Glaze

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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.

Gena Glaze