2018 Year in Review | Charleston, SC Market Update

The statistics are in for 2018! It was another great year for Charleston Real Estate and our firm, with strong sales numbers across the board. In the attached Market Report, you will find statistical analysis of our overall market and your neighborhood in detail. We have seen another strong year with price per square foot slightly up market-wide. 

While some rural areas continue to lag behind, Downtown Charleston has shown real strength with a 6% increase in price per square foot across the entire lower peninsula, and 4% increase in overall sale price. We have also seen number of transactions and days on market mostly flat or down slightly, an indicator of limited inventory. This winter we have also had some top dollar listings go under contract with 3 homes listed over $7M currently pending sales. By our next update we should have sale prices for these homes to share. 

With uncertainty in global financial markets making headlines everyday, our team at Daniel Ravenel Sotheby’s remains optimistic about investing in real estate at any price point. Steady and manageable appreciation year over year continues to characterize our market, and our office is buzzing with activity as our professional team of agents are busy bringing on new listings and servicing motivated buyers. 

Our firm continuse to be at your service each day to help you realize your real estate aspirations. Please reach out anytime that we may be helpful. Enjoy the E-book and here’s to a happy and healthy New Year!