What Does the Charleston Market Look Like?

The latest numbers are in for Charleston. We are excited to share them with you today.

Buying a Charleston home? Get a full home search
Selling your Charleston home? Get a free home value report

We’ve got the latest numbers for the Charleston real estate market and we wanted to share them with you today. So far in 2016, 19,000 homes have been listed on the market and 14,000 of those have sold. A large percentage have sold, but there will always be homes that don’t sell for a variety of reasons. Whether it’s because they are priced too high, they're unable to accommodate showings, or they simply go too long without an offer, not every home will sell.

This year, the median price in Charleston is $239,000, a 5.7% jump from last year’s median price. Our average sale price is also up by around 4.5% to $320,000.

Last year, we had about a five-month supply of inventory at this time. Right now, our supply is at 3.6 months. What we mean by this is that if no more new homes came on the market after now, it would take 3.6 months to sell all the homes on the market at the current rate homes are selling. Anything below five to six months is considered a seller’s market, so that’s what we are in right now in Charleston.

Buyers are more reluctant to pay full price.

I do want to caution you that in this fourth quarter, we have seen a growing trend of buyers becoming a little reluctant to pay full price. However, a lot of people are taking their homes off the market right now before the holidays, so you have a window of opportunity to sell high now.

If your home is eligible to be shown during the holidays, I recommend you get it on the market right now. You can get ahead of the January rush that will come and get your home under contract while there is less competition and more serious buyers.

We are in a tremendous market for home sellers. If you have any questions for us or you’re thinking or buying or selling, give us a call or send us an email. We would be happy to come out to your home and give you a complimentary home valuation to show you what you could really sell for this holiday season. We look forward to hearing from you soon.

Why hire the Jeff Cook Team to represent you?

As the #1 Residential resale agent in the Charleston area for 5 years in a row, Jeff Cook is more than capable of handling the sale of your home in a satisfactory manner. You will not find a more experienced, driven, and successful group than the Jeff Cook Real Estate Group. Whether you are looking to buy or sell, you will find a team that is willing to put your satisfaction at the forefront of the business.

Jeff hopes to provide you with a superior buying and selling process with free reports on Charleston homes for sale and local listings of all homes for sale in Charleston. With a deep knowledge of the local area and a decade of experience within the field of real estate, Jeff is sure to exceed all of your expectations. If you want someone who will work tirelessly to ensure your satisfaction, then you are looking in the right place.

Jeff Cook
Jeff Cook Real Estate
Offices in Summerville, Charleston,
West Ashley, and Mount Pleasant
(843)225-2002
Info@JeffCookRealEstate.com

Erich - "The Jeff Cook team was very helpful through the whole process. Everyone was incredibly pleasant and they really kept me calm during times I was worried that nothing was going to happen. They always gave me good information and were very willing to work with me."

Lee - "I was very impressed with how they kept in contact with me. There wasn’t a week that went by where I didn’t hear from them. Jeff has the most knowledge and we really felt that he would be able to take care of our needs and concerns."

Jeff - "When we found the home we wanted, we told our Realtor at Jeff Cook Real Estate and told her what we were looking for. She worked very hard to get us into the house quickly and really made sure things were moving along. She even made calls to the utility company and home inspectors that, to me, was above and beyond!"

See what our thrilled Charleston real estate clients have to say

"Our real estate agent, the divine Becca Hodges and the entire Jeff Cook team made buying a home in Charleston SC, while still living in Kodiak Alaska, 4500 miles away, anxiety free. Becca was able to take our long lists of wants and needs in a home and set up multiple search criteria. Essentially, the home of our dreams found us. She happily met with our parents, multiple times, as our stand-ins for showings and never wavered at the challenge of a 4 hour time zone difference for many phone conversations. Working with Becca Hodges and Jeff Cook Real Estate was a pleasant experience. We highly recommend them."

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We had to move to another city before our house was sold and we were scared to death of having to pay a mortgage and rent at the same time for too long. Luckily, Jeff Cook and his team quickly sold our house. We had multiple showings daily for two weeks with great feedback (painting allowance requested, power wash the house, etc.). Those few things were done and soon enough we had two offers. Within the month we were under contract, and closed not even two months later. It felt like a miracle honestly, and we even came out on top! The team works so seamlessly together, and is efficient in each of their roles, you never have to wonder if they've forgotten about your house. I really can't express my thanks enough, they were a dream team to work with! Its just too bad we weren't buying in the area again. Jeff Cook move to Atlanta!"

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What Does the Charleston Market Look Like?