Market Review – Charleston Area MLS – MAY Update 2025

Review for Entire Charleston MLS (April Stats):

SALES PRICE – The median sales price closed out at $440,000 in April 2025, up +4% over April of 2024 and the average sales price for April 2024 was $664,971.

NEW WRITTEN SALES (Pending) – There were 1,876 new written sales in April 2025, up 10.5% versus April of 2024.

CLOSED SALES – There were 1,568 closed sales in April of 2025, down 6.7% from April of 2024.

INVENTORY – Approximately 2,622 new listings came online in April 2025, which is up +15.7% from April 2024 and the average Days on Market was at 48, up +23.1% with 3.3 months of inventory (up 26.9%).

PRICE PER SQFT – The median price per sqft closed out at $237 for April of 2025, up 4.9 % and an average of $307 sqft.

APRIL STATS BY COUNTY:

Berkeley – The median sales price was $395,000 | down -1.0%. The average sales price was $508,250 and the average days on market was 52 | up +20.9%

Charleston – The median sales price was $600,000 | down -5.5%. The average sales price was $913,859 and the average days on market was 39 | up +25.8%

Dorchester – The median sales price was $370,000 | 0.0% (no change year over year). The average sales price was $413,610 and the average days on market was 48 | up +29.7%

Gena Glaze

Leave a comment

Filed under Real Estate (Market info)

Market Review – Charleston Area MLS-APRIL Update 2025

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

Leave a comment

Filed under Market Statistics, Real Estate (Market info)

Lowcountry Lowline is Officially Launching It’s First Phase

The Lowline project envisions a central spine of parks and mobility systems connecting downtown to West Ashley, North Charleston and Mt Pleasant. The plan will transform an abandoned rail line and neglected highway corridor into a continuous green corridor that supports the surrounding communities and provides places for active and passive recreation.. 

Charleston City Council recently approved a $1.1 million design-build contract, officially launching the first phase of construction for this long-awaited project. A community open house is scheduled for Thursday, April 24th from 5:00 to 6:30 p.m. at Palmetto Brewing Company, located at 289 Huger Street in Charleston.

THE NORTH CENTRAL CORRIDOR:

  • The North Central Corridor runs from Romney Street to the planned transit hub on Mount Pleasant Street
  • The North Central Corridor provides areas for active and passive recreation in “The Columns” beneath the elevated highway
  • “The Columns” area also provide ample space to host a neighborhood market
  • This district will include pocket parks where neighborhood streets end into the Lowline property
  • The potential transit oriented redevelopment of the Parks Department building provides an opportunity to create a new pedestrian district at the North end of the Lowline

THE PARKS

  • The Parks District runs from Romney Street to Line Street
  • It is bookended by two new park spaces: New Market Creek Park to the North and Lowline Park to the South
  • Lowline Park is a large open space designed for events and gatherings
  • NewMarket Park is an enhanced Salt- and Fresh- water ecosystem
  • NewMarket Park provides a natural amenity for the public to enjoy while also enhancing stormwater management for the surrounding neighborhoods

THE URBAN CORE

  • The Urban Core District of the Lowline runs from Line Street to Marion Square
  • The District currently has the most diverse mix of uses and the highest density on the peninsula
  • The Lowline in the Urban Core is envisioned to be a series of alleys
  • Some portions of the Lowline already exist as alleys between Mary and Hutson Street
  • The side streets that connect King and Meeting streets will become important access points. Improvements to these connecting streets will be included in the Lowline
  • This Network of interconnected pedestrian walkways will enhance the entire district

Read More at Lowcountry Lowline

Gena Glaze

Leave a comment

Filed under Charleston Area Growth and Development, Places, Real Estate (Market info)

Market Review – Charleston Area MLS- MARCH Update 2025

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

Leave a comment

Filed under Market Statistics, Real Estate (Market info)

Switchyards, A Neighborhood Work Club Is Set To Open in Charleston.

Switchyards Charleston will open on Monday, April 28,2025.

The neighborhood work club is launching its first Charleston location on Rutledge Avenue, next to Hampton Park. The space will feature high ceilings, skylights, and a library. The 5,000-sqft building was once a supermarket back in the 1970s.

The space is designed for working, hanging out, reading a book, meetings or just to grab a coffee. Locally roasted coffee is free 24/7 for members.

Quick facts:

  • 250 memberships will be available.
  • Members will have 24/7 access to the space.
  • A membership will grant access to all work clubs across the country.
  • Phone booths and meeting rooms on-site will also be available.
  • Memberships are $100 a month + you can cancel at any time.

CEO and Founder Michael Tavani said “There’s a growing need for that ‘third place for work’ in this city and beyond — a space that’s not your home or office, but somewhere to mix it up. Charleston is one of our favorite cities in the world, chock full of iconic neighborhoods, so it was an obvious choice for us to plant a flag here.”

Memberships go live on Thursday, April 24, at 10 a.m.  Sign up for early access to memberships and sneak peek invites.

Gena Glaze

Leave a comment

Filed under Charleston Area Growth and Development

Approximately 6,000 Homes Scheduled For This 5-Mile Section of West Ashley

The Long Savanah development will be broken up into three main parts: a city park, a county park and a 1,200-acre residential area. The development agreement allows for 4,500 residential units, with 675 allocated to the workforce housing.

Other developments, within a five-mile radius of the development, along Bees Ferry Rd and Glen McConnel Parkway are being planned. The total housing units in this corridor will top 6,000 once completed

Other Developments include:

The Davis Development: 337

The Davis Development that is currently clearing the corner of Bees Ferry and Sanders roads for a 337-unit multifamily complex. The Plans call for eight buildings with a maximum height of 55 feet, with each containing 30 to 80 rental units.

Ashley Walk Townes: 57

Ashley Walk Townes, The new Beazer townhome community has already sold out phase one, but a second is now open with homes starting at $404,990. Two floorplans call for three- and four-bedroom options spanning 2,100 to 2,300 square feet. 

Affordable housing: 180

Charleston City Council approved rezoning a 17-acre property by Verdier Road to accommodate 180 affordable housing units . The project is still in the works and now includes a commercial aspect, including a potential daycare within the parcel. 

Verdier Pointe: 101

Pennsylvania-based builder Toll Brothers is in the midst of constructing 101 single-family attached homes in the Verdier Pointe. The neighborhood runs along Claret Cup Way and Verdier Boulevard, which intersect with Bees Ferry Road. Four floorplans range from 1,500 to 2,000 square feet with prices starting at $452,000.

WEM Apartments: 250

A North Carolina developer is in the approval process with the city to build a nine-acre parcel at 3950 William E. Murray Blvd. The site, near West Ashley High School and the Spinx convenience store on Glenn McConnell Parkway, would have 250 rental units. 

Gateway Apartments: 69

A senior housing complex is under construction at 2280 Henry Tecklenburg Drive.

Once completed, Gateway Apartments will offer 69 units for residents 55 and older on 4.4 acres just down the road from Bon Secours St. Francis Hospital.

More at Post and Courier

Gena Glaze

Leave a comment

Filed under Charleston Area Growth and Development

 Third Del Webb community of nearly 1,100 homes planned in The Low Country

Atlanta-based PulteGroup‘s Del Webb unit has broken ground on its 55-plus Cainhoy peninsula project. The neighborhood sits on a 502-acre parcel along Beech Hill Drive. It’s within the 9,000-acre master-planned Point Hope development.

Plans for the golf-cart friendly community, Del Webb Pointe Hope is aiming to open by early next year.

The new Del Webb community will be located in the Charleston area near the juncture of Clements Ferry and Cainhoy roads in the city of Charleston in Berkeley County.

Pointe Hope is Del Webb’s third 55-plus housing project in the Charleston region, all in Berkeley County. The first, in Cane Bay, has sold out. Another in the Nexton development in Summerville includes 1,400 homes. Del Webb has sold almost 900 homes in the last eight years.

Read More at Post and Courier

Leave a comment

Filed under Charleston Area Growth and Development

Market Review – Charleston Area MLS- February Update 2025

February 2024 Update for the entire Charleston MLS:

NEW SALES – Pending – There were 1379 new written sales in January 2025, down -6.1% versus January of 2024.

CLOSED SALES – There were 1045 closed sales in January of 2025, up 2.8% from January of 2024

SALES PRICE – The Median sales price closed out at $415,917, up 0.2% over January of 2024 and the average sales price for January 2024 was $631,715

INVENTORY – Approximately 1,907 new listings came online in January 2025, which is up +2.3% from January 2024 and the average Days on Market was at 50, up 28.2% from January of 2024 with 2.7 months of inventory.

Gena Glaze

Leave a comment

Filed under Market Statistics, Real Estate (Market info)

More Buyers May Qualify for Down Payment Assistance – New SC State Housing Rules.

SC State Housing offers a variety of mortgage financing options through a variety of Lending Partners to make owning a home more affordable and recent changes will allow more buyers to qualify.

One of the most substantial changes allows the applicant / buyer to use only his/her income for qualification purposes. This change will allow more buyers to fall under the income limits to help them qualify for the program. Previously, the total household income had to be under the income limit to qualify.

The current bond issue offers a lower than market rate and $10.000 down payment assistance. The rules for “targeted” areas allow buyers to purchase their primary residence but they cannot own another property at the time of closing. However, buyers can sell their current home prior to purchasing the new home and still use the program as long as they meet all other guidelines.

For “non-targeted areas, purchasers may not have owned a home within 3 years of closing the new home

There are a variety of affordable SC Housing programs with different criteria and the much-anticipated Palmetto Heroes Program will be available this spring (date and details have not been announced yet). Palmetto Heroes serves military, police, fire and medical personal and typically has a generous down payment assistance amount and a lower-than-market rate.

If you or someone you know could benefit from a State Housing program, please contact me, I would be happy to help connect you with the needed resources.

STATE HOUSING PRICE-INCOME LIMITS PDF

Gena Glaze

Leave a comment

Filed under Home Buying (For Buyers), Real Estate (Market info)

Global Defense Provider Establishing Operations in Berkeley County / Goose Creek

 HII (NYSE: HII), a global defense provider, announced it selects Berkeley County to establish the company’s first South Carolina operation through the acquisition of substantially all of the assets of W International SC, LLC and Vivid Empire SC, LLC (collectively, “W International”), a South Carolina-based complex metal fabricator specializing in the manufacture of shipbuilding structures, modules and assemblies. Through its investment, HII anticipates creating over 250 new jobs.

Headquartered in Virginia, HII manufactures naval ships and defense technology solutions for customers including the U.S. Navy. The company has over 135 years of experience and currently has 44,000 employees nationwide.

In connection with the transaction, which was completed on Jan. 22, 2025, HII will invest in new equipment as well as retrofit the acquired facility, located at 2040 Bushy Park Road in Goose Creek, to meet HII’s manufacturing requirements. The renovated facility will operate within HII’s Newport News Shipbuilding division and serve as a manufacturing center in support of Virginia-class, Columbia-class and aircraft carrier programs.

The Coordinating Council for Economic Development approved job development credits related to the project. The council also awarded a $750,000 Set-Aside grant to Berkeley County to assist with the costs of building improvements.

Gena Glaze

Leave a comment

Filed under Charleston Area Growth and Development