The numbers don’t lie, so when it comes to buying or selling property in the South Carolina Lowcountry, let Charleston’s real estate market statistics guide you. By studying market trends, you can feel confident in making an informed decision. While the statistics below are helpful for forecasting Charleston’s market, keep in mind that the numbers fluctuate daily and are sometimes unpredictable. For the most current information on today’s real estate trends, contact our team at Pam Harrington Exclusives. Connect with one of our real estate agents today for access to the Charleston MLS, where you’ll find concise monthly data on housing inventory, median home prices, closings, and more.
A Guide to Charleston Real Estate Market Statistics
Overview of the Cost of Housing
When it comes to assessing the typical cost of housing in the Tri-County area, it is more helpful to take into account the median sales price vs. the average. In recent years, increases in luxury property sales have been significant outliers in the overall data set. Thus far in 2019, the median sales price for a home in Charleston County is approximately $385,000, a 1.9% increase compared with 2018. For historical comparison, the median sales price for a home was about $320,000.
Historic Median Sales Price Statistics
View historic trends for sales prices in some of Charleston’s most desired communities below. You can also navigate to active listings by clicking on your desired community.
2015 Annual Median Sales Prices
- Seabrook Island | Homes: $525,000 | Villages & Cottages: $196,050
- Kiawah Island | Homes: $906,500 | Villas & Cottages: $385,125
- Sullivan’s Island | Homes: $1,350,000 | Villas & Cottages: $500,000
- Upper Charleston Peninsula | Homes: $347,500 | Townhouses & Condos: $290,000
- Lower Mount Pleasant | Homes: $475,000 | Townhouses & Condos: $203,500
- Johns Island | Homes: $268,014 | Townhouses & Condos: $200,000
- James Island | Homes: $305,000 | Townhouses & Condos: $170,000
2018 Annual Median Sales Prices & 2015 Comparisons
- Seabrook Island | Homes: $599,900 (+14.2%) | Villages & Cottages: $267,500 (+36.4%)
- Kiawah Island | Homes: $1,230,000 (+35.7%) | Villas & Cottages: $362,500 (-5.9%)
- Sullivan’s Island | Homes: $1,981,800 (+46.8%) | Villas & Cottages: $487,500 (-2.5%)
- Upper Charleston Peninsula | Homes: $481,000 (+38.41%) | Townhouses & Condos: $375,000 (%)
- Lower Mount Pleasant | Homes: $564,000 (+18.7%) | Townhouses & Condos: $240,000 (+17.9%)
- Johns Island | Homes: $329,995 (+23.1%) | Townhouses & Condos: $208,000 (+4.0%)
- James Island | Homes: $370,620 (+21.5%) | Townhouses & Condos: $195,000 (+14.7%)
Note: Percentages above are rounded to the nearest tenth.
What Is the Charleston Housing Market Forecast for 2019 & 2020?
Before we provide you with a market forecast for the Charleston area, we’d like to note again that the real estate market fluctuates daily and is often unpredictable. However, by looking at historical data from 2015 to August 2019, we can say that the overall market has been competitive and will continue to be throughout the remainder of 2019 and also entering 2020.
Year after year, the median sales price of homes, condos, villas, and cottages has steadily risen in all areas of Charleston, and there is no sign of that trend changing. Demand is higher than the current supply, so whether you are searching for a retirement villa, investment home, or a new place to raise a family, it’s safe to say that the sooner you buy, the better.
Get Charleston’s Newest Listings Delivered to Your Inbox
Now that you know the basics of Charleston’s real estate market statistics, it’s time to explore the housing market! For access to the most up-to-date listings and real estate trends, remember to contact our agents for local guidance and access to the Charleston MLS database. If you aren’t quite ready to connect with an agent, you can still stay in the know with our Charleston real estate listing alerts. Submit your criteria, including desired location, budget, and community amenities, and we will notify you when we find a listing that matches your needs.
If you have any additional questions, don’t hesitate. We welcome your phone call, email, or visit. Most of all, we welcome you and your family to Kiawah and Seabrook Island!