Charleston Market Update, Are We Really Heading Into a Buyer Market?
Many people across the Charleston Tri County area are asking the same question, are we in a buyer market. The market has shifted from a frenzy to balance. It is not the sprint you remember from a few years ago, yet it is not a crash either. Here is what is actually happening and how to move with confidence.
What Changed?
For a stretch, homes were selling in hours, often over asking, with multiple offers, few or no repairs, and closings on the seller’s timeline. Today, homes sit longer, and buyers negotiate again. Average days on market now land around 40 to 60. Well priced homes with strong marketing still sell in 7 to 10 days.
Months of Inventory, The Simple Guide
Months of inventory measures supply and demand. Take the number of homes for sale today, then divide by the number of homes that sell each month.
- Five to six months is neutral.
- Below five months favors sellers.
- Above six months favors buyers.
As homes take longer to sell, listings accumulate, which pushes months of inventory higher. That is why conditions feel more buyer friendly.
Prices, Reductions, and Reality
Price reductions do not always mean falling values. Many sellers start too high, then cut to reach the real market. Year over year, most Charleston areas still show appreciation in the range of about 3%to 10%, which lines up with a healthy, neutral to slightly seller leaning market. In neutral markets, 3% to 4% appreciation is normal.
Why Charleston Stays Resilient
Charleston benefits from strong population growth and a diverse economy. Ports, tourism, technology, manufacturing, major universities, major hospital systems, and several military installations all contribute. This diversity helps cushion national slowdowns. In the last major downturn, many markets saw sharp value drops, Charleston’s decline was far smaller, which shows the strength of local demand and employment.
What This Means for Buyers
- More room to negotiate price and terms.
- More time to make decisions.
- Opportunity to secure seller paid repairs or
concessions. - Access to creative financing options, including our
Guaranteed 4% Rate for qualified buyers.
What This Means for Sellers
- You can still sell quickly and for top dollar with the
right plan. - Accurate pricing, professional presentation, and a full
funnel marketing strategy are non- negotiable. - When your home is positioned and promoted correctly,
you can compress days on market and protect your net.
Programs That Unlock Your Move
- Sell Your Home, Keep Your Rate, designed for homeowners who want to move without
giving up a great rate. - Guaranteed 4% Rate,
available to qualified buyers, subject to terms and conditions.
A Real Story from Mount Pleasant
John and Michelle needed more space but did not want to leave their school zone or trade a 3.25% rate for a 6% rate. We showed them how to lock a rate in the 4’s, how to market their home for top dollar to unlock equity, and how to negotiate the next home’s price. They moved into a larger home, stayed in the same schools, and kept their payment comfortable.
Bottom Line
We are not crashing. We have shifted into a balanced, patient market that rewards strategy. Buyers can negotiate real savings. Sellers can still sell fast and net more with the right pricing and marketing. If you want a clear plan for your situation, we will build it with data, not headlines.
Want local, data driven guidance for your move? Visit davefriedmanteam.com, click the links below or call (843) 972 3833.