June 14, 2023 In Market Updates, Videos

Discover What’s Happening in the Charleston Real Estate Market

Stay ahead of the game with this important June 2023 market update.

Today, we’re here to provide you with the latest insights on the real estate market. We’re diving into the residential real estate activity in your area during the month of June to help you stay informed and make smart decisions.

First, the number of active listings has decreased by 24.2% compared to the same period last year, and there has been a 15% decline from the previous month. This reduction in inventory means that buyers who were waiting to make a purchase may have experienced a more limited selection to choose from.

“Some changes could present an opportunity for buyers to negotiate more favorable terms.”

Turning our attention to pricing, the median list price for the month was $412,000. Also, the average number of days that units spent on the market before being sold has seen a significant increase of 123%. This extended time on the market may indicate a potential slowdown in the local turnover rate.

In addition, the median sales price was $631,000, and sales volume saw a 32% year-over-year decrease but a 6% increase from the previous month. This overall decline could present an opportunity for buyers to negotiate more favorable terms.

If you need more information or personalized assistance, please don’t hesitate to reach out to us. You can email us at AskDave@DaveFriedmanteam.com or call us at (843) 972-3833. We look forward to helping you navigate the real estate landscape.

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