Summer in Charleston is in full swing and so is baseball at the Joe! There is August Acoustic Nights on the Green at Freshfields every Thursday night too. If you’re in the area, don’t miss live music, food trucks, and fun at the Firefly Distillery every Saturday. Here is your full August calendar of events:
29: 3rd Annual Puerto Rican Dinner Series, Wild Common
The Charleston housing market continues its incredible run. While 2020 was a record year for Charleston, we are up 31.6% in transactions year to date over the same period last year! Our median sales price is up almost 18% over the same period too. This is true for most places around the country. We are beginning to see a slight shift back towards normal though. Housing inventory in Charleston had gone down from around 5,000 active listings a couple of years ago to below 1,300 recently. We are now back up to 1,800. We are still a long way from normal, but the shift has begun. It is possible that this is due to the unsustainable increase in prices. This has priced some buyers out of the market. Affordable housing is becoming even harder to find around Charleston. We don’t expect this to be a bubble though and real estate doesn’t usually work that way (2008 was an exception). It’s much more likely that we will see prices stabilize. It is our predication that real estate price in Charleston will continue to rise but it will be much more modest over the next few years.
This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.
