June Charleston Real Estate Update: Summer Momentum Accelerates
The Charleston market experienced a massive burst of activity as we crossed into summer, posting incredibly strong gains in closed sales. Despite global headlines and fluctuating interest rates, buyer demand remains highly resilient, home values are creeping upward, and inventory gaps continue to define the landscape.The Charleston market carried its spring momentum into May, posting strong gains in both contract activity and closed sales. Despite fluctuating mortgage rates and mixed national headlines, buyer demand remains healthy, home values continue to show resilience, and inventory levels are still below what would be considered a balanced market. Here’s a look at what the latest data is telling us about the Charleston real estate market.
Strong Surge in Contract Activity
June closed out with a remarkable and unexpectedly strong 18% increase in closed sales compared to June 2025. Because closed sales reflect contracts that were ratified 5 to 8 weeks prior, they represent historical buyer sentiment. To understand real-time demand, we look at current contract activity:
Weekly Contract Velocity: Last week, 262 properties went under contract marketwide, marking a 4% increaseover the exact same week last year.
Monthly Written Sales: Total written sales finished up 3% in June 2026 compared to June 2025.
Looking Ahead: Historically, activity peaks in late spring, and we expect contract velocity to remain strong through roughly Week 36 (late August) before our annual seasonal slowdown gently sets in for the fall.
Mortgage Rates: Volatile but Favorable Year-Over-Year
Mortgage rates have steadily dropped over the last 12 months, though they have experienced some short-term volatility and bounced around recently following the start of the Iran conflict. Despite this current “up” leg of the bounce, the broader picture remains favorable: overall rates sit modestly below where they were this time last year.
The Strategy of Waiting: If you have buyers trying to “wait out the rates,” the numbers suggest that may not be a winning strategy. Home prices are highly unlikely to decline in any meaningful way. If home values stay steady or appreciate, waiting only costs equity.
The Buyer’s Advantage: If rates go down after you close, you can refinance. If rates stay the same, you’ve successfully secured a home at today’s prices. If rates rise, you’ll be incredibly glad you didn’t wait.
Home Prices Creep Upward Under the Surface
The median sale price in the Charleston market remained elevated in June at $450,000. Because the median reflects the exact middle value of all transactions, it indicates a broad-based upward trend over the last two months rather than a figure skewed by a few luxury outlier sales.
The Price Per Square Foot Story: While the overall median sale price is moving within a relatively tight band, the Average Sold Price per Square Foot continues to creep near record levels, finishing June at $322/sqft.
What This Means for Consumers: Market experts interpret this divergence—a stable median price but a rising dollar-per-square-foot—as a sign that buyers are reaching their absolute budget ceilings. Buyers are willing to accept slightly smaller homes to stay within their financial comfort zones while still purchasing the Charleston lifestyle. Under the surface, homes are continuing to slowly appreciate.
Active Inventory Constraints and the Balanced Market Gap
Active inventory stood at approximately 5,500 listings in mid-June, supported by 2,350 new listings hitting the market (a pace almost identical to last June).
While 5,500 listings is a massive, healthy leap from the record-low floor of 1,035 listings we established back in February 2022, we are still far from equilibrium:
The Inventory Deficit: The gap between available inventory and the inventory required for a balanced market is substantial. We need roughly 5,600 additional listings marketwide to achieve 5 months of supply and bring the market into balance.
Seller’s Market Rules: Charleston currently averages about 12 weeks of inventory (3 months), indicating a mild seller’s market. In our most highly active sub-markets, supply is even tighter, sitting at a thin 2.5 to 4-month range. Expect this inventory gap to widen slightly through the summer as seasonal sales outpace new listings.
New Listings and Inventory Levels: A Mild Seller’s Market
We saw healthy activity on the supply side this month, with roughly 2,350 new listings hitting the market in June—a pace nearly identical to what we saw last June. This steady flow of fresh inventory is keeping the market active, but it isn’t quite enough to satisfy overall demand.
Weeks of Inventory: Currently, the broader Charleston market holds about 12 weeks of inventory (3 months of supply), signaling a mild seller’s market.
Hyper-Local Activity: As always, real estate is hyper-local. In our most highly sought-after neighborhoods and active price points, inventory remains exceptionally tight, sitting in the 2.5 to 4-month range.
What this means for you: While buyers have slightly more options to choose from compared to the extreme inventory droughts of recent years, sellers still maintain a slight upper hand in negotiations—especially in the most active areas.
New Construction Remains a Critical Outflow Valve
New construction remains a significant part of Charleston’s housing market, accounting for 35% of all pending contracts and approximately 34% of all closings. While new homes represent just 23% of active inventory, they continue to attract a disproportionate share of buyer interest.
The impact varies by county:
Berkeley County: 51% of all closings are new construction.
Dorchester County: 43% of all closings are new construction.
Charleston County: 15% of all closings are new construction.
For buyers considering new construction, these numbers highlight just how important newly built homes remain in meeting housing demand across the Charleston region.
The Bottom Line
If you are waiting on the sidelines for a massive real estate correction or a sudden flood of cheap inventory to hit Charleston, the structural data simply doesn’t support that reality. Buyer velocity is remarkably strong, home equity is secure, and well-positioned properties are continuing to slowly build value.
If you want to know how these city-wide numbers translate to your specific neighborhood, reach out to our team today!
Thanks to Dave Sansom for gathering real estate information to always keep us informed.