Charleston Housing Market Conditions
Even as the region experiences record job growth, a lack of affordable housing coupled with rising mortgage rates threatens the stability of the Charleston housing market. Although Charleston's economy has proven to be more resilient than other comparable markets, increased income requirements for home purchases are starting to take a toll. For those who can afford them, there remains a substantial inventory of new homes for sale in Charleston.
The first casualty of the current state of Charleston's housing market is the new home construction market, with area builders pulling back and new construction projects hitting incredible lows. One bright spot for Charleston continues to be economic growth as new job opportunities continue to manifest. Redwood Materials, a company that recycles lithium-ion batteries and produces battery materials for electrical storage systems and electromobility, is investing a record $3.5 billion into the region and creating 1,500 new jobs.
Old is gold and Charleston, SC has authoritatively stamped that. Its deep history characterized by many opportunities and successes has only elevated it higher on the global map. Those who have come to know about Charleston want to live here, and you too should consider, calling it your home.
Charleston is full of life, a cultural and business center due to its diverse opportunities, making it second to none. As a result, the city has not escaped the attention of some of the global leaders in business; for instance, you’ll find companies, which have made a name in the manufacturing, communication, and IT sectors, having their homage here. This includes CSS and Benefit focus among others. The economy here is flourishing and in 2013, the Milken Institute named Charleston as the 9th best performing city in America.
Do you know Charleston, SC old theatre culture has refused to take a back seat despite the emergence of many other amenities and activities for leisure and recreation? Yes, and apart from theaters, tourists and locals come here in dozens to learn from the world-class museums, historical sites, festivals, sports to name a few. One of the showstoppers is the Spoleto Festival USA which happens annually for 17 days. Over 100 performers participate, showcasing their rich talent in contemporary art and music.
Michelin Star Chefs found here are always ready to guide you through the menu, be it low country cuisine or deep intercontinental cuisine. Shopping places also go in numbers.
Popular Housing Developments in Charleston, SC
Market Overview: New Homes in Charleston, SC
Here is a quick overview of new housing developments in the Charleston area and the new construction market for new build homes in Charleston:
| Market Name | Charleston |
| State Name | South Carolina |
| Subdivisions | 114 |
| Homes Under Construction | 311 |
| Quick Move-in Homes | 389 |
| Floor Plans | 796 |
| Starting Price | $259,990 |
| Average Price | $469,716 |
| Price Per SqFt | $198 |
| New Home Builders | 30 |
| Leading Builders | - Lennar
- True Homes
- Pulte Homes
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