The Charleston housing market is showing balanced conditions with stable prices and moderate inventory levels. Home prices have decreased 33.1% in the past month. With 4.3 months of supply, Charleston's inventory levels remain relatively tight. Transaction volume is up 133% compared to what's typically expected this time of year. A significant 26.7% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 14.3% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Charleston market with the affordability index at 20.9. Based on current market indicators, home prices in Charleston are projected to increase by approximately 16.7% over the next month.
Charleston, SC has a total population of 144,658 residents. The area is predominantly White (70.0%), African American residents comprise 19.7% of the community. The area shows moderate demographic diversity. As a large population center, Charleston, SC offers diverse community resources and amenities.
Crime analysis for Charleston, SC shows 1,727 total incidents across all categories. The most prevalent crime type is Property Crime (51.4% of all incidents). This is followed by Assault at 39.5%. The overall crime rate in Charleston, SC is relatively high, with violent crimes being more common than property crimes. Residents and visitors should remain aware of their surroundings and take appropriate safety precautions.
Market predictions for Charleston, SC show an upward trend in home prices, with values increasing by 14.0%. This represents a significant price movement in the market. The current median home price in Charleston, SC is approximately $664,868.594. Based on current trends, home prices in Charleston, SC are expected to continue appreciating, making it an attractive market for sellers and long-term investors.
Charleston, SC features 4 investment hotspots with varying levels of activity. With an average nightly rate of $162, the market offers mid-range pricing opportunities. Guest satisfaction is good with an average rating of 4.2/5. The high average hotspot score of 0.85 indicates excellent investment potential in these areas. With 97 hotels, the area has a moderate level of accommodation options.
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