Charleston Real Estate: Defying Expectations in a Changing World
The Charleston market is proving once again that it doesn’t always follow the national script. Despite global headlines and a recent spike in mortgage rates, local buyer activity hasn’t just remained steady—it has surged.
As we look at the data from February 2026, it’s clear that the “spring thaw” in real estate has arrived with more heat than anticipated. Here is the breakdown of what’s happening in the Lowcountry right now.
A Surprising Spike in Activity
Last week, 338 properties went under contract marketwide. To put that in perspective, that is a 30% increase over the same week last year.
What’s most interesting is the timing. Typically, global conflict and fluctuating mortgage rates cause buyers to pause. However, since the onset of the Iran conflict three weeks ago, we’ve seen a sharp upward climb in ratified contracts (the “Green Line”). Buyers aren’t pulling back; they are locking in.
The Rate Reality Check
Mortgage rates have seen a recent spike following a year of steady decline. While some buyers are tempted to “wait out” the rates, history suggests that may be a losing game.
Price Resilience: The median sale price remains firm at $415,000, staying within the $400k–$425k band we’ve seen for three years.
The Refi Safety Net: If you buy now and rates drop, you can refinance. If they stay high or climb further, you’ve protected yourself against future increase
Prices & Value
The median sale price in the Charleston market remains within a tick of its highest level ever, right at $415k. Generally, the median sale price has been in a tight band between $400k and $425k where it has been for most of the last 3 years, so the small upward move over the last 10 months seems to indicate continued staying power for pricing.
Buying “Less” for More?
The average sold price per square foot is holding strong at $300/sqft, near all-time highs. Because the median sale price is stable but the price-per-foot is creeping up, it tells us that consumers are opting for smaller homes to keep their monthly payments manageable. Even with a stable “sticker price,” homes in Charleston are continuing to appreciate.
Inventory: Still a Seller’s Market
We currently have roughly 4,800 active listings. While that is a healthy increase from the “floor” of 2022, we still need 1,300 additional listings to reach a balanced market. With demand peaking between now and late April, expect the competition for well-priced homes to remain stiff.
New Construction Leads the Way
New builds continue to be the engine of the Charleston market, representing 38% of all pending contracts.
Berkeley County: 53% of all closings are new construction.
Dorchester County: 42% of all closings are new construction.
Charleston County: 14% of all closings are new construction.
The Bottom Line
Despite some national talk of delinquencies, the local “distressed” market is effectively nonexistent at 1.2%. With record-high home equity and strong employment, Charleston homeowners are in a position of strength. We are nowhere near the “Great Recession” territory; we are in a market driven by high equity and high demand.
We are entering the most active time of the year (Weeks 18 through 36). If the current trend holds, we are looking at a very strong summer for Charleston real estate.
Thanks to Dave Sansom for gathering real estate information to always keep us informed.