Here are some key current market trends for single-family detached homes (SFD) in the Charleston, SC Metro Area, which reveal a continued return to a more typical market.
3,370 SFD homes sold in Q3 in the Charleston MLS, 5.9% higher than the number sold in 2024 Q3.
???? Our market is still moving!
The median number of Days on Market (DOM) for listings was 33 days, 32% longer than in 2024 Q3.
???? Homes are taking longer to sell, although still selling reasonably fast.
Listings with no price reductions attracted a contract in a median duration of 7 days. Those that needed price reductions took 76 days.
???? Homes that needed a price reduction to attract an offer stayed on the market more than 10 times longer!
Out of 100 homes listed, only 73 sold. Of those that sold, 36 required a price reduction, took 10 times longer to sell and achieved a 7% lower sales price.
???? 63% of all listings were initially overpriced and had to "chase the market".
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