Charleston Real Estate: Still Writing It's Own Story
The Charleston market continues to chart its own course. While national headlines suggest a slower spring market, buyer activity here remained strong, making April the strongest April for ratified sales we’ve seen in four years. Inventory is growing as we head into peak season, but demand is still keeping much of our market moving. Here’s a quick look at what’s happening in the Charleston market this month. 📊🏡
Strongest April in Four Years
The last week of April, 390 properties went under contract marketwide, making it the strongest week of contract activity we’ve seen in 2025, 2024, or 2023. April finished as the strongest April for ratified contracts in four years, a clear sign that buyer activity in Charleston remains resilient despite national headlines.
The Mortgage Rate Reality Check
Mortgage rates have continued their gradual downward trend over the last 12 months, though recent weeks have brought a bit of volatility. Even with the recent ups and downs, rates remain meaningfully lower than they were this time last year.
Why Waiting May Not Pay Off: While some buyers are tempted to “wait for rates to drop,” home prices in Charleston have remained remarkably resilient. Waiting for the “perfect rate” could mean paying more for the same home later.
The Refinance Safety Net: If rates drop after you buy, refinancing is always an option. If rates stay the same, you’re no worse off. And if rates rise, you’ll likely be glad you locked something in sooner rather than later.
This feels closer to the tone and data story from your original piece without overstating a “spike.”
Prices & Value
After reaching a record $458k in March, the Charleston market settled back to a still-strong $432k median sale price in April, making it the third-highest monthly median price on record. While month-to-month fluctuations are normal, the bigger story remains the same: Charleston home values continue to show resilience, with pricing holding in a strong range over the last several years despite changing market conditions.
Buying “Less” for More?
After peaking at $334/sqft in March, the average sold price per square foot settled to a still-strong $308/sqft in April, remaining near historic highs. While the median sale price has stayed relatively stable, price per square foot continues to trend upward, suggesting buyers may be prioritizing smaller homes or more efficient spaces to stay within budget. The takeaway? Even when sticker prices level out, Charleston home values continue to show steady appreciation.
Inventory: Still Leaning Seller-Friendly
Active inventory climbed to roughly 5,300 listings in April, continuing the normal spring inventory surge. While that’s a meaningful improvement from the historic lows of 2022, the Charleston market still sits nearly 2,900 listings short of what’s needed for a fully balanced market. As buyer activity remains strong heading into summer, well-priced homes are likely to continue seeing healthy competition.
New Construction Continues to Drive the Market
New construction remains a major force in the Charleston market, accounting for 35% of all pending contracts and approximately 37% of all closings. While new homes currently make up just 23% of available inventory, they continue to play an outsized role in buyer demand.
Berkeley County: 56% of all closings are new construction.
Dorchester County: 45% of all closings are new construction.
Charleston County: 16% of all closings are new construction.
The Bottom Line
Despite mixed national headlines, the Charleston market continues to show remarkable resilience. Buyer activity remains strong, April posted the highest level of ratified contracts in four years, inventory is growing but still falls short of a balanced market, and home values continue to hold firm. Distressed properties remain a very small part of the market at just 1.2% of active listings, thanks in large part to strong homeowner equity and stable demand.
As we move into Charleston’s busiest selling season, all signs point toward a strong summer market, particularly for well-priced homes in desirable locations.
Thanks to Dave Sansom for gathering real estate information to always keep us informed.