Charleston Real Estate Statistics
These charts and statistics are updated monthly based on data from the MLS and the Charleston Trident Association of Realtors. We’ve included all stats for the tri-county including median sales price, days on market, current inventories, area overviews, and historic trends!
May 2017
Inventory of listings: 4,099 (currently decreasing with a 3.3% drop in time spent on market)
Average sales price: $360,655
Properties sold so far this year: 5,326 closed; 2,774 homes currently under contract
2016 Overview by Area
In 2016 there were 17,720 closed sales on the MLS, making it the 3rd busiest year recorded in Charleston real estate's history.
| Community | Total Closed Sales | Change from 2015 | % New Construction | % Condos | Days on Market | % of List Price Received |
|
|---|
| Entire Charleston Area |
17,720 |
+9.3% |
21.8% |
17.9% |
58 |
96.4% |
| Daniel Island |
312 |
-13.1% |
17.9% |
36.5% |
54 |
97.2% |
| Downtown Charleston |
438 |
+14.7% |
3.9% |
48.6% |
101 |
93.4% |
| Folly Beach |
152 |
-6.7% |
2.6% |
38.2% |
103 |
93.2% |
| Goose Creek and Moncks Corner |
3,085 |
+26.2 |
38.8% |
9.8% |
49 |
98.3% |
| Isle of Palms |
250 |
+3.3% |
2.8% |
30.4% |
141 |
91.5% |
| James Island |
903 |
-0.9% |
6.8% |
23.6% |
44 |
96.3% |
| Johns Island |
649 |
+21.3% |
45.8% |
11.4% |
51 |
98.1% |
| Kiawah and Seabrook Islands |
200 |
-5.8% |
3.3% |
43.0% |
165 |
90.2% |
| Mount Pleasant |
2,862 |
+9.3% |
25.5% |
29.5% |
59 |
96.7% |
| North Charleston |
1,330 |
+0.2% |
20.5% |
16.8% |
41 |
96.1% |
| Sullivan's Island |
62 |
+10.7% |
3.2% |
6.5% |
125 |
90.0% |
| Summerville |
2,195 |
+13.1% |
22.0% |
7.0% |
54 |
97.1% |
| West Ashley |
1,909 |
+13.8% |
16.8% |
22.5% |
39 |
96.7% |
Keep in mind that for the Days on Market and the % of List Price Received, these averages are balanced by overpriced properties that sit on the market and also those best new listings that go under contract within a week of getting listed for full price (often in multiple offer situations). The newer the listing and the better the condition, the less likely a seller is willing to negotiate price in Charleston's strong sellers' market.
Historic Trends in Charleston's Market
The median sales price in Charleston for 2016 was $240,000 (a 4.8% increase from 2015). The average sales price in 2016 was $321,102, which is pulled upwards because of the many higher end properties that sell each year.
Total there were 17,720 properties closed in Charleston last year (an increase of 9.3% from the previous year). When looking further back in Charleston's historic trends, 2016 was the third highest grossing year ever recorded. The only years that superceded it were 2005 and 2006, which were the height of the housing market.
In most cases, the inventory of homes for sale corresponds to the number of closed sales. In other words, as real estate sales have increased over the past 5 years, the inventory/supply has decreased (which also pushes price up).
Median Price Trends in Charleston by Area
| Community | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | Change from 2015 |
|
|---|
| Entire Charleston Area |
$181,275 |
$190,025 |
$204,900 |
$215,000 |
$229,000 |
$240,000 |
+4.8% |
| Daniel Island |
$405,000 |
$455,000 |
$502,500 |
$560,000 |
$624,000 |
$650,575 |
+4.4% |
| Downtown Charleston |
$323,875 |
$351,250 |
$372,500 |
$462,000 |
$465,625 |
$508,750 |
+9.4% |
| Folly Beach |
$338,000 |
$417,500 |
$375,000 |
$450,000 |
$446,000 |
$499,950 |
+11.1% |
| Goose Creek and Moncks Corner |
$155,000 |
$160,000 |
$163,000 |
$172,500 |
$187,500 |
$205,000 |
+9.3% |
| Isle of Palms |
$600,000 |
$622,000 |
$649,500 |
$598,000 |
$650,000 |
$725,000 |
+11.5% |
| James Island |
$187,750 |
$207,000 |
$229,500 |
$258,500 |
$281,400 |
$275,500 |
-2.1% |
| Johns Island |
$189,082 |
$197,367 |
$218,018 |
$240,000 |
$256,500 |
$275,000 |
+7.2% |
| Kiawah and Seabrook Islands |
$560,000 |
$615,000 |
$685,500 |
$615,000 |
$511,750 |
$486,250 |
-12.4% |
| Mount Pleasant |
$310,672 |
$306,070 |
$338,000 |
$375,500 |
$400,418 |
$432,250 |
+8.0% |
| North Charleston |
$106,000 |
$105,000 |
$131,018 |
$139,900 |
$153,983 |
$168,000 |
+9.2% |
| Sullivan's Island |
$1,272,500 |
$1,330,000 |
$1,447,500 |
$1,217,500 |
$1,312,500 |
$1,350,000 |
+2.9% |
| Summerville |
$160,000 |
$167,250 |
$167,000 |
$183,993 |
$194,900 |
$206,088 |
+5.7% |
| West Ashley |
$175,050 |
$187,816 |
$198,602 |
$220,000 |
$232,000 |
$255,000 |
+9.9% |
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Need more information about Charleston Real Estate?
For the best assistance in buying or selling Charleston area homes, contact The Keadle Group online or call 800.804.2187.
