Key Takeaways
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The "Great Reset": We aren't in a crash or a boom. We are in a "Normal Market" (finally), with median prices holding steady at $715k in Charleston County.
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Inventory Spike: Active listings have jumped 14% year-over-year. Buyers finally have a "Selection Market" rather than a "Scarcity Market."
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The Rate Reality: With rates settling in the low-6% range, the "wait for 4%" crowd is realizing that current rates are the new baseline, sparking early activity.
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Days on Market: Homes are sitting for an average of 54 days—up 25% from last year. This is your leverage point to negotiate repairs.
If January was the "hangover" month where everyone watched the weather and the Fed, February is shaping up to be the month of action.
We are seeing a trend that experts are calling "The Great Reset." For the first time since 2019, the Charleston real estate market feels… sane. It’s not the frenzy of 2022, but it’s certainly not the "crash" the doom-scrollers predicted.
According to the latest data released this week, Charleston County median prices are actually up 3.6% year-over-year, despite higher rates. But the real story is inventory.
The "Selection Market" is Here For three years, buyers had to compromise. You took the house with the bad roof because it was the only house. Today, with inventory up 14%, you have choices.
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Buyers: You can now view a home a second time before writing an offer. You can ask for a CL-100 (termite letter) without being laughed at.
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Sellers: The "aspirational pricing" window has closed. If your neighbor sold for $600k in 2022, you might need to list at $585k today to move it, especially if you haven’t updated the kitchen.
Why Start Now? Traditionally, the "Spring Market" starts in March. But we are seeing pending sales tick up now. Why? Because savvy buyers know that once the azaleas bloom, the competition doubles. Buying in February allows you to negotiate with a seller who has been sitting on the market through the winter holidays and is ready to make a deal.
Neighborhood Watch: The Micro-Markets
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Mount Pleasant: The "Bubble" Continues. Prices here are up 5-7% year-over-year. Demand for "turnkey" homes in the $1M–$1.5M range is insatiable. If you want a deal here, you have to look at homes that need cosmetic work (paint/carpet).
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North Charleston: The "First-Time" Battleground. This is where the volume is. We are seeing multiple offers return on homes priced under $350k, specifically in neighborhoods near Park Circle and Wescott.
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West Ashley: The "Sweet Spot." Inventory here is rising faster than anywhere else. Buyers looking for 1960s brick ranches "Inside the Loop" are finding sellers willing to offer $10k+ in closing costs to buy down rates.
FAQ
Q: Will home prices drop in 2026? A: Unlikely. With inventory still historically low (despite recent gains) and strong migration to SC, prices are stabilizing, not dropping.
Q: Is it better to buy a new build right now? A: It depends. Builders in Summerville are offering aggressive rate buy-downs (some as low as 5.5% for the first year), which resale sellers often can't match.
By Dustin Guthrie Realtor, Carolina One Real Estate
📞 Call/Text (843) 697-7757
📧 [email protected]
📸 Instagram @dustin_guthrie_realtor
