The summer market is off to a sizzling start! We saw a surge in activity in the month of May, with new listings, pending sales, and closed sales all increasing. Notably, the days on market have decreased compared to the previous months and prices saw an increase. We are still grappling with low inventory levels, which continues to present challenges in meeting demand.
May's month end data:
Average Sales Price
Entire MLS $612,050| +6.9%
77 - Daniel Island $1,516,888|-1.2%
Mount Pleasant $998,064| +15.2%
51 - Peninsula Charleston Inside of Crosstown $1,589,820|+19.4%
Average Price Per Square Foot
Entire MLS $290|+5.8%
77 - Daniel Island $490| +1%
Mount Pleasant $396| +10.6%
51 - Peninsula Charleston Inside of Crosstown $702| +12.3%
Dollar Volume Sold
Entire MLS $1,024,571,253| -12.4%
77 - Daniel Island $54,607,975| +4.6%
Mount Pleasant $184,641,855| -15.4%
51 - Peninsula Charleston Inside of Crosstown $73,131,713|-19.2%
Average Days on Market
Entire MLS 35| +150%
77 - Daniel Island 28| +250%
Mount Pleasant 22| +120%
51 - Peninsula Charleston Inside of Crosstown 52|+20.9%
Closed Sales
Entire MLS 1,674| -18.1%
77 - Daniel Island 36| +5.9%
Mount Pleasant 185| -26.6%
51 - Peninsula Charleston Inside of Crosstown 46| -32.4%
If you are considering selling your home, reach out to us to see what your home is worth. With the current market conditions, appropriately priced homes continue to attract multiple offers, making it an opportune time to capitalize on your investment!