Market stats are out for April! What’s catching our eye?
Prices are still on the rise! Historically, a healthy market appreciates around 3.5% a year. But in 2024, sales prices in Charleston County are up a whopping 10% from last year. The median sales price has soared to $658,000. Wow, right? In Mount Pleasant, the story is even more astonishing with prices up 19%. The average price point is now $1.138 million, and the median sale price has hit $1 million, up 18%. If you’re waiting for prices to drop, you might be waiting a while.
For buyers, now is the time to start looking. Days on Market have stretched a bit—27 days in Mount Pleasant and 30 in Charleston County, giving you a bit more breathing room. Interest rates remain high, but hopefully, we’ll see some relief in the coming months. In the meantime, consider getting into a property now to take advantage of ongoing appreciation.
Sellers, expect around 10 showings before getting an offer. The inventory supply is still low, with 2.3 months in Charleston County and 1.6 months in Mount Pleasant, keeping it a strong seller’s market. Sellers, pricing strategy is crucial. You might need to come down about 2% from your list price if you’re aiming high. But many homes are still selling at list price, so it’s not all bad news.
If you have any questions or just want to chat about the market, please call, email, or text us. We’re here to help, even if you’re not planning to move. We love meeting new people and are always here to be of service.
Warmly,
Lauren & Cambron | Lauren Zurilla & Associates
P.S. – For a full market update, watch Lauren’s video on YouTube! Charleston County Market Update: April 2024