We are taking a look at what May’s real estate market brought not only for Charleston County, but for the state of South Carolina as a whole. Inventory and prices were up, but the number of sold homes was down. Interesting, right? Let’s get down to it!
📊 South Carolina: 50% more real estate on the market compared to last year. Still a seller’s market with only 3.5 months of inventory (6 months is balanced). Closed sales are down, but prices are up. More on the market, higher prices, fewer closed sales – go figure! Average days on market: 63 days.
📊 Charleston County: 15% more houses on the market than last year. Closed sales are down 1.6%, but median sales prices are up 12.6%. Days on market is down 8.6% compared to last year, which means it took slightly less time to sell a house in May than it did the previous year.
📊 North Mount Pleasant: 20% more on the market than last year. Closed sales are down 6%, but sales prices are up 18.8%. Average days on market: 25 days. South Carolina is doing great, Charleston is doing better, and North Mount Pleasant is doing even better!
Understanding these numbers is crucial, whether you’re buying or selling. Your agent needs to know not just what your house can sell for, but also what’s going on in the market and how that may impact your sale.
It’s still a great time to sell. Rates are higher than we expected, but houses are still selling. If you have any questions or want to dive into specifics about your house or neighborhood, give us a call. Even if you’re not thinking about selling right now but are curious, we are happy to chat.
Choosing an agent is an important decision, one that directly impacts your experience. Who you choose to work with truly matters. Put our experience, proven track record and commitment to your goals to work for you. Reach out, and let’s start the conversation!
Warmly,
Lauren & Cambron | Lauren Zurilla & Associates
P.S. – For a full market update, watch Lauren’s video on YouTube!