If you’ve been reading headlines (or listening to friends who swear they “heard the market is crashing”), it’s easy to feel whiplash about Charleston. One week you hear prices are dropping, the next you see a home in Mount Pleasant go under contract in three days.
Here’s the truth from the ground: Charleston isn’t one market. It’s a collection of micro-markets that behave differently based on neighborhood, elevation, school zones, proximity to water, and even the type of buyer competing in that segment.
The simplest way to explain Charleston right now
The market has shifted from “anything sells instantly” to “the right homes still sell quickly.” That sounds like a cliché, but it’s a real change you can feel in day-to-day showing activity. The homes that are clean, updated (or honestly priced for needed updates), and positioned correctly are still moving. The homes that are overpriced “just to see what happens” are sitting—and sitting longer than sellers have been used to.
Why you’ll see “prices down” and “prices up” at the same time
Depending on where you pull the data, you can get two very different stories:
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In the City of Charleston, recent reporting showed a median sale price around $622K with a year-over-year decrease and longer average days on market.
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But in the broader Charleston Trident MLS (which reflects the region more widely), the most recent monthly snapshot showed the median sales price essentially flat/slightly up (about $422,295, up 0.7% year-over-year), with inventory rising and months supply around 3.4.
That gap is not an error—it’s geography and price points. The “City of Charleston” dataset includes pockets where pricing can swing more dramatically because the mix of homes sold changes month to month (more luxury closings one month, more mid-range closings the next). Meanwhile, the broader tri-county view tends to smooth those swings.
The most Charleston thing I can tell you: ZIP codes tell different stories
You can see this even inside Charleston itself. One ZIP may show down trends tied to luxury or waterfront demand fluctuations, while another shows gains tied to limited inventory and consistent buyer demand.
For example, recent data showed 29401 (downtown) with a noticeable year-over-year decline and longer marketing times, while 29407 (West Ashley) showed an increase year-over-year—two completely different realities in the same metro conversation.
This is why broad statements like “Charleston prices are dropping” are only half-truths. The more accurate sentence is:
“Some Charleston segments are softening while others are holding steady or growing.”
What’s driving the current trend (in plain English)
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More inventory = more choice. The tri-county market has recently shown inventory growth and rising months supply. When buyers have options, they stop panic-bidding.
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Days on market are up. In the same report, days on market increased—another sign of normalization, not collapse.
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Affordability is the referee. Mortgage rates and monthly payments are still the biggest “yes/no” factor for many households heading into 2026.
What this means if you’re buying
If you’re relocating or buying locally, you have more leverage than you did in 2021–2023. That leverage shows up in: negotiating repairs, asking for credits, not waiving every protection, and taking time to compare neighborhoods instead of rushing.
But don’t confuse “more leverage” with “easy steals.” In Charleston, the best homes—especially in the most walkable, school-driven, or lifestyle-driven pockets—still attract strong interest when priced correctly.
What this means if you’re selling
Charleston is no longer forgiving of “hope pricing.” The fastest path to the best net is usually: clean presentation + honest condition strategy + pricing that reflects today (not 2022). If your home needs cosmetic updates, that’s fine—buyers will buy projects here. The mistake is trying to price like it’s turnkey while hoping the buyer “won’t mind.”
The takeaway
Are prices dropping? In some areas and segments, yes. In other pockets, they’re flat or rising, especially where demand consistently outpaces supply. The Charleston market is moving toward balance—and that’s healthy.
By: Dustin Guthrie, Realtor
📞 Call/Text (843) 697-7757
📧 [email protected]
📸 Instagram @dustin_guthrie_realtor
