Charleston Real Estate News

Charleston real estate sales are about the same as 2023. Higher mortgage rates are still having a big impact on the market, but the Fed cut rates by half a percentage point in September and then another quarter point early in November and then another quarter point in December.

However, so far, these cuts have not had a huge impact on mortgage rates. They had predicted 3 cuts for 2025, but have now reduced that to 2. Through November 2024, we are down 0.1% in transactions versus the same 2023 period. And median sales price is still strong with a 4% increase over the same 2023 period. Median sales price for the area is now at $430k.