Are the headlines making the Charleston market feel confusing? You’re not alone. Prices, speed, and inventory can shift from one neighborhood to the next, and it’s hard to tell what actually matters for your home or search. This guide shows you how to read months of supply, days on market, and price per square foot like a pro, then apply it to Charleston’s micro-markets in a simple step-by-step way. Let’s dive in.
Core metrics you need to know
Months of supply
Months of supply is how long it would take to sell the current active listings at the recent sales pace. It’s your first clue on leverage.
- Formula:
- MOS = Active listings ÷ Average monthly closed sales
- Absorption rate = Closed sales over a period ÷ Average active inventory during that period
- Rule of thumb:
- Seller’s market: MOS under about 4 months
- Balanced market: roughly 4 to 6 months
- Buyer’s market: over about 6 months
Watchouts: One-month snapshots can be noisy. Use 3 to 12 month averages. Active listings can include stale or overpriced homes, and suburban new construction can temporarily inflate inventory counts without changing resale conditions.
Median days on market
Median days on market is the middle number of days from list date to contract date. It indicates market speed.
- Quick guide:
- Very hot: under 10 to 14 days
- Moderate: 15 to 45 days
- Slower: over 45 to 60 days
Watchouts: Relists and expired listings can reset the clock. Condos, townhomes, and single-family homes each have different typical timelines. DOM can also lag pricing shifts if sellers adjust later in the process.
Price per square foot
Price per square foot equals sale price divided by the home’s gross living area. It helps you compare similar properties quickly.
- Best use:
- Compare truly similar homes in the same area and time frame.
- Track 3 to 12 month rolling medians to smooth volatility.
- Watchouts:
- Square footage can be measured differently across sources.
- Lot size, outdoor living, garages, renovations, and age can skew value beyond the living area.
Better practice: Pair price per foot with median sale price and compare among tight peer sets like 3-bed, 2-bath single-family homes within one neighborhood or zip code.
Charleston micro-markets matter
Charleston County is a collection of micro-markets, each with its own inventory, buyer profiles, and pricing patterns. County-wide averages can hide opposite trends street to street.
Peninsula and Historic District
Expect smaller lots, historic homes, strict preservation rules, and limited new supply. Price per foot tends to be higher and months of supply lower. Well-priced historic properties often see short days on market.
Mount Pleasant
Large planned communities and newer construction sit alongside established neighborhoods. Demand is consistently strong, with broad appeal for a range of buyers and a deep resale market.
West Ashley and James Island
You’ll find a mix of mid-century homes, ranches, and newer infill. These areas offer varied price points, with pockets that can appreciate quickly as infrastructure and amenities improve.
Johns Island and Wadmalaw
Larger lots and a more rural feel define many areas here. New construction growth is active in certain corridors. Commutes to the Peninsula are longer, which can shape both DOM and MOS.
North Charleston and Park Circle
Inventory is diverse, and several revitalized pockets, including Park Circle, attract steady demand. Proximity to major employment centers can influence absorption.
Summerville and outer suburbs
Farther from the Peninsula, these areas often offer more affordability and larger lots. New-home communities can increase active inventory, which affects your reading of MOS versus resale conditions.
Read the data like a pro: 7-step workflow
Use this repeatable process to turn headlines into insights for your specific property or search.
- Define your micro-market
- Narrow by neighborhood or a 1 mile radius, property type, bed and bath count, size, and age range.
- Example: 2 to 3 bed, 1,200 to 1,800 square feet single-family homes in West Ashley 29407.
- Collect the last 3, 6, and 12 months
- Active listings now
- Closed sales by month
- Median days on market
- Median sale price and median price per square foot
- Price reductions and withdrawn listings
- Use local sources like the Charleston Trident MLS, CTAR market reports, and county property records. Third-party portals are fine for a quick scan, but verify with local MLS data.
- Calculate key metrics
- Months of supply = Active listings ÷ Average monthly closed sales
- Median DOM = Median days for closed sales during the period
- Price per foot = Median of sale price ÷ GLA among comparable homes
- Year over year change = Compare your current 3 or 12 month metric to the same period last year
- Interpret with context
- MOS under 4 suggests seller leverage; over 6 suggests buyer leverage.
- If DOM rises but MOS is flat, sellers may be reducing prices later to secure contracts.
- If price per foot rises while median price is flat, your sales mix may be skewing smaller or higher-end.
- Check pendings to see near-term direction.
- Scan for red flags
- Rising actives with flat sales raise MOS and hint at cooling.
- Many price reductions or expired listings suggest oversupply at current prices.
- A few high-end waterfront sales can lift county-level price per foot without changing typical values nearby.
- Watch for new construction permit surges in your submarket, which can add supply.
- Visual checks
- Plot MOS, median DOM, and price per foot as 12 month rolling lines to see trend direction.
- Create a scatter of DOM versus price per foot for recent closed sales to spot where homes attract quick bids versus sit.
- Decide your move
- Sellers: With MOS under 4 and short DOM, you can price competitively and prepare for multiple offers. With MOS over 6 and rising DOM, plan for longer timelines and negotiation.
- Buyers: In low MOS areas, move fast with strong terms and clear contingencies. In high MOS areas, negotiate more assertively and explore concessions or upgrades from sellers or builders.
What the patterns mean for you
You might read that Charleston County is balanced overall, while your neighborhood is heating up or cooling down. For example, the Peninsula can run hot with low MOS and very short DOM, even when certain suburban pockets slow. Or a handful of luxury waterfront sales can lift average price per foot county-wide without changing values for typical mid-market homes.
The takeaway is simple. Segment first, then run the numbers. Look at rolling 3 to 12 month measures to confirm a trend, and cross-check with pendings and price reductions. When you read MOS, DOM, and price per foot together, you get a clear picture of leverage, speed, and pricing power.
Local sources and smart caveats
- Local sources: Charleston Trident MLS and CTAR reports for timely neighborhood stats, Charleston County property records and GIS for parcel details, and city or county planning for zoning or development approvals.
- National context: NAR and Census data help frame big-picture trends, but local MLS tells the real story for your block.
- Tools: A simple spreadsheet handles rolling averages, YOY changes, and charts. MLS saved searches keep your micro-market updated.
- Data caveats: MLS entries can be inconsistent on square footage. Off-market or FSBO sales may not appear. New construction incentives can distort medians. List price is not the same as sale price.
Ready for a tailored read of your block?
If you want a precise, neighborhood-level analysis built on Charleston MLS data, request a custom report for your property or target area. You’ll get like-for-like comps, MOS, DOM, price per foot, and a clear action plan for pricing, timing, and negotiation. Connect with Nora Delyra for a concierge-level market read and next steps.
FAQs
What is months of supply in Charleston real estate?
- It’s the number of months to sell current active listings at the recent sales pace, and it shows buyer or seller leverage for your micro-market.
How often should I check neighborhood metrics?
- Review monthly and use 3 and 12 month rolling measures to confirm trends without chasing noise.
Why can county-wide averages be misleading?
- Charleston’s micro-markets move differently, so county stats can hide opposite conditions between the Peninsula and suburban areas.
How should I use price per square foot?
- Compare within tight peer groups in the same area and time frame, and pair it with median sale price to avoid mix-shift traps.
What if days on market climbs but MOS stays flat?
- Sellers may be adjusting later to meet the market, which lengthens DOM without a big change in inventory or sales pace.
Where can I get a custom micro-market report?
- Request a local MLS-based analysis with like-for-like comps and trend visuals from a Charleston agent who works your neighborhood.
