Charleston Flat Fee Real Estate - Behren Kittrell

Greater Charleston, South Carolina

 January 2023-


Charleston home sales sink to lowest level since 2015

The runaway home market during the pandemic couldn't last forever, and in January sales plummeted to their lowest level in 8 years across the four counties in the Lowcountry market.

Residential transactions fell below 1,000 for the first time since January 2019 and dipped to a level not seen since January 2015.

January is usually a slower month for home sales, but inflation, the higher cost of borrowing and a paucity of available housing stock contributed to the plunge in the Charleston-area housing market.


Interesting facts about our area population and more according to

  • With 27 active breweries in the Lowcountry, this area accounts for over half of all beer produced in the state of South Carolina
  • The tri-county population is 775,831 according to the 2017 year end census (401,438 – Charleston County, 217,937 – Berekeley County, 156,456 – Dorchester County) – 7 year growth rate of 16.24% increase in 7 years
  • In 2010, the tri-county population was 667,456 (351,023 – Charleston County, 178,967 – Berekely County, 137,466 – Dorchester County)
  • There are 5.084 million residents in South Carolina – The Lowcounty tri-county area accounts for 15.3% of the entire state of South Carolina
  • There are 8,550,405 residents of New York City – That means, NYC is 68% larger than the entire state of South Carolina
  • The largest cities in the Southeast are: Houston – 2.4 Million, San Antonio – 1.4 Million, Dallas – 1.3 Million, Jacksonville – 868,000, Charlotte – 826,000, Memphis – 656,000, Nashville – 654,000, Virginia Beach – 575,000, Atlanta – 479,000, Miami – 458,000: If we combine the tri-county, we have the 5th largest city in the Southeast
  • The city of Charleston is 18% more densely populated than Columbia according to a 2019 report by
  • In 2017, the median household income of Charleston County residents was $57,882. Charleston County households made slightly more than Berkeley County households ($56,697) and Lexington County households ($57,482). However, 15.3% of Charleston County residents live in poverty.
  • The largest Charleston County racial/ethnic groups are White (63.9%) followed by Black (27.6%) and Hispanic (5.0%).
  • In a report USA Today released in 2018, Myrtle Beach/Conway/North Myrtle Beach was the 2nd fast growing area in the United States, Charleston, SC 12th and Hilton Head/Bluffton/Beaufort 23nd

There are many exciting and fun things awaiting you in Charleston, SC including the Charleston Aquarium, antebellum mansions, eclectic art galleries, theater, festivals and outdoor concerts.  The more popular outdoor activities include things like golf, tennis, horseback riding, water sports, as well as guided tours through Blackwater Swamps and historic plantations like the Magnolia and Boone Hall plantations, saltmarshes and barrier islands – and much, much more. Charleston Wine + Food just wrapped up its 10th year as one of the more popular outdoor events.

The boundaries of metropolitan Charleston, SC lie within three counties, Berkeley, Charleston and Dorchester.  The city has 90 miles of coastline, and stretches inward from the Atlantic coast some 50 miles.  Public education for Charleston pre-K through 12 is provided primarily by three school districts:  Berkeley County Schools, Charleston County School District, and District 2 and District 4 of Dorchester County School District. 

Charleston History 

Charleston is rich in historic charm, but enjoys cultural sophistication which is evident throughout the city.  Things like the great fires of 1740, and 1861, the fall of Fort Sumter and consequent destruction of the city during the Civil War, plus a major earthquake in 1886 could not keep Charleston down. 

The economy of Charleston once was centered around merchandise and trade dating back to the earliest days of the town when the settlers of “Charles Towne” would trade and barter such things as deer skins, indigo, hemp, and cotton with the Indians.  Merchants who dealt in luxuries from England also added to the economy of the port city.  The Charlestonians eventually became great planters, thus transforming the area to a more agricultural society.  In spite of the Yellow Fever epidemic during the mid-1700s, prosperity soon returned and business began to grow again with rice as the cash crop.

As the 20th century dawned, Charleston found itself emerging from the crises of the past into the economic prosperity of its golden future; but this time the economic drivers which rose to prominence included manufacturing, military, and the railroad.  Later in the 20th century, international container cargo shipping, the medical industry, and tourism also became highly important to the economy of Charleston.

Charleston Real Estate

Residential Real Estate Sales Stay Strong in Charleston Region
Charleston-area home sales plunged in 2022 after setting records during the blistering sales pace of the pandemic-induced rush to buy the previous two years. The outlook for 2023 calls for sales to return to pre-pandemic levels amid the prospect of a mild recession. 

In an effort to attract buyers amid slowing traffic and declining home sales, U.S. homebuilders have been increasingly reducing prices and offering sales incentives this year. According to the National Association of Home Builders, 36% of single-family homebuilders reported cutting prices as of last measure, with an average price reduction of 6%. Meanwhile, 59% of builders reported offering sales incentives, including price discounts, paying closing costs or fees, and offering free upgrades or price discounts, among others. For the 12-month period spanning January 2022 through December 2022, Pending Sales in the CharlestonTrident region were down 20.4 percent overall. The price range with the smallest decline in sales was the $300,001 and Above range, where they decreased 1.7 percent. The overall Median Sales Price were up 13.9 percent to $398,615. The property type with the largest price gain was the Condos segment, where prices increased 22.2 percent to $330,000. The price range that tended to sell the quickest was the $200,001 to $300,000 range at 16 days; the price range that tended to sell the slowest was the $100,000 and Below range at 53 days. Market-wide, inventory levels were up 62.2 percent. The property type that gained the most inventory was the Single Family segment, where it increased 64.7 percent. That amounts to 1.8 months supply for SingleFamily homes and 1.4 months supply for Condos.

Berkeley County Jan 31 2023
305 homes sold at a median price of $332,220 in Berkeley County in January, 274 single-family homes and 31 condos/townhomes.

There are currently 851 residential properties for sale in Berkeley County; 771 single-family homes and 80 condos/townhomes.

Charleston County Jan 31 2023

368 homes sold at a median price of $481,500 in Charleston County in January, 277 single-family homes and 91 condos/townhomes.

There are currently 933 residential properties for sale in Charleston County; 736 single-family homes and 197 condos/townhomes.

Colleton County Jan 31 2023

21 homes sold at a median price of $244,000 in Colleton County in January, 16 single-family homes and 5 condos/townhomes.

There are currently 83 residential properties for sale in Colleton County, 77 single-family homes and 6 condos/townhomes.

Dorchester County Jan 31 2023

162 homes sold at a median price of $305,963 in Dorchester County in January, 144 single-family homes and 18 condos/townhomes.

There are currently 471 residential properties for sale in Dorchester County; 444 single-family homes and 27 condos/townhomes.