Real estate in Old Mount Pleasant, SC. Find houses, condos, & luxury homes for sale with the agents & realtors at Katherine Cox + Co.
Mount Pleasant, SC Housing Market
In October 2024, the housing market in Mount Pleasant showed a 2.1% increase in home prices compared to the same period last year, with the median home price reaching $870K. However, the pace of sales has slowed, with homes now taking an average of 64 days to sell, up from 57 days in October 2023. This indicates a more deliberate market, potentially reflecting changing buyer behavior or economic conditions. Additionally, the number of homes sold decreased to 123 this year, down from 133 in the previous year, suggesting a tightening in supply or a slight cooling in demand.
Mount Pleasant maintains a moderately competitive real estate market. Homes typically sell within 60 days, with some properties receiving multiple offers. On average, homes sell for about 2% below their list price and tend to go pending within the 60-day timeframe. However, "hot homes"—those in high demand—can sell at or near their list price and go pending in as little as 41 days, reflecting strong buyer interest in select properties. This dynamic highlights the importance of pricing and presentation in attracting competitive offers.
As of October 2024, Mount Pleasant, SC, is experiencing a buyer's market, where the supply of homes exceeds the current demand. This market dynamic gives buyers more leverage in negotiations, often resulting in lower prices or additional concessions from sellers. For sellers, this environment highlights the importance of competitive pricing and strategic marketing to attract potential buyers. While favorable for buyers, this could signal a shift in the local economy or buyer preferences, making it essential to monitor trends closely.
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Looking to explore one of the most desirable neighborhoods in the Lowcountry? Dive into our comprehensive Old Mount Pleasant neighborhood guide! From picturesque streets to vibrant local amenities, find out what makes this area a favorite for homebuyers and residents alike. Start exploring now!
My roots are grounded in The Lowcountry and I am committed to educating future buyers on every aspect of life here in Charleston. I am passionate about my job and dedicated to helping buyers and sellers get the most value out of my services!
