Q1 Real Estate Market Update

The Charleston, South Carolina real estate market is experiencing notable shifts in 2025, influenced by factors such as population growth, economic conditions, and evolving buyer preferences. Here's an overview of the current trends affecting home sales in the area.​

Home Prices and Sales Activity

As of February 2025, Charleston's median home price has risen to $630,000, marking a 17.1% increase compared to the previous year. During the same period, 224 homes were sold, up from 199 sales in February 2024, indicating sustained buyer interest despite rising prices. Homes are spending an average of 69 days on the market, a slight increase from 66 days last year, suggesting a modest shift toward a more balanced market. ​

Market Dynamics and Inventory Levels

The Charleston housing market continues to favor sellers, though the advantage is less pronounced than in previous years. Increased inventory is providing buyers with more options, leading to a more balanced environment. Pending sales have seen a 2.4% uptick, and closed sales have risen by 1.1% in 2024, reflecting ongoing market activity. ​

Economic Factors and Mortgage Rates

The local economy remains robust, with South Carolina experiencing historically low unemployment rates. Mortgage rates are projected to remain above 6%, which may temper some buyer enthusiasm. However, Charleston's strong population growth and economic vitality continue to fuel housing demand.

Looking Ahead

Experts anticipate a slight decrease in mortgage rates and a modest increase in home prices throughout 2025. An uptick in available properties is expected, offering opportunities for both buyers and sellers. Sellers can anticipate continued appreciation in home values, while buyers may benefit from increased inventory and potentially more favorable financing conditions. ​

In summary, Charleston's real estate market in 2025 reflects a dynamic interplay of rising home prices, increased inventory, and strong economic fundamentals. Both buyers and sellers should stay informed and work with experienced professionals to navigate this evolving landscape effectively.

This blog is presented by South Carolina Real Estate Marketplace, the real estate analytic partner to The JAGER Group. 

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