June is National Homeownership month! This is where we reflect on what happened last month compared to June, 2021.... ready? Days on Market is still down, for the entire MLS area by over 18.8% compared to June 2021. New listings were slightly up in June, 2%, compared to this time last year. However, prices continue to rise, the median sales price was up 18.3% from this time last year, Mount Pleasant saw a significant price increase from this time last year at 39.5%. Charleston has 1.2 months’ supply of inventory, which is UP 20% from June 2021.
Nationwide, supply is on the rise and the housing market is “normalizing”. People continue to ask if we are in a housing market correction, the short answer is no. The housing market is, however, at turning point…. We are starting to see a new direction, but the ball is still in the sellers’ court in most housing markets, including Charleston.
Here are some details about how the month end looked:
Median Sales Price
Entire MLS $419,950 | +18.3%
77 - Daniel Island $1,500,000 | +15.8%
Mount Pleasant $823,000 | +39.5%
51 - Peninsula Charleston Inside of Crosstown $801,675 | +15.3%
Average Price Per Square Foot
Entire MLS $270 | +15.9%
77 - Daniel Island $486 | +26.2%
Mount Pleasant $385| +31.4%
51 - Peninsula Charleston Inside of Crosstown $624 | +23.6%
Dollar Volume Sold
Entire MLS $1,164,202,476 | -5.89%
77 - Daniel Island $43,991,525 | -32.3%
Mount Pleasant $251,334,027 | +6.3%
51 - Peninsula Charleston Inside of Crosstown $65,331,570| -24.5%
Closed Sales
Entire MLS 1,993| -19.8%
77 - Daniel Island 29 | -43.1%
Mount Pleasant 259 | -24.0%
51 - Peninsula Charleston Inside of Crosstown 54 | -37.9%%