Real Estate Market Update: May 2024 Charleston, SC
Charleston Market Update 🌴☀️
A Note from Smith Spencer Real Estate:
“If the last several months have taught us anything, it’s that election season is where happiness goes to die we don’t need to be in the thick of hurricane season to flood ‘round these parts. But with 11 days until the official start date, it’s time to get shopping for supplies. We won’t get into what comprises the supply list here, there’s other places to find that info - mainly because Stacy and I don’t have children and don’t know what it takes to keep them alive or entertained, especially if the internet is down. However, we do know what it takes to keep adults sane during unsettled times and that is tequila and snacks. A word of advice to the men reading this: if you’d like to still be her husband at the end of hurricane season, and not her wasband, you need to make sure the backup supply has a backup supply. Capiche?
We could also discuss the countdown to the election but I don’t want to be a menace to our little newsletter society so we’ll give an honorable mention instead to the many good things coming up: graduations, holidays, beach days, vacations, weddings, and tomato sammiches - the compensating factors to the heat and humid that plagues Charleston summers. Elections, interest rates, and market sentiment will be what they will be three months from now anyway so in the meantime: bon voyage, bon appetit, and amuse-toi bien!”
Year to date, median sales price is up 4.8% to almost $425k
Many mls areas have increased over 7%:
West Ashley (outside of 526), James Island, North Charleston, Downtown (inside crosstown), and Mt. Pleasant!
Transactions in April are up 8.8% over the same period
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* data from Chas MLS