Charleston Area Home Prices Skyrocketed Since Start of Pandemic
A perfect storm of events here in the Lowcountry — led by a low housing inventory, low interest rates and a high demand for single-family homes — have caused a spike in national and local housing prices during the COVID-19 pandemic. Since the pandemic began in March, the median price of homes has increased 6.6 percent nationally and 8.1 percent in the Charleston area, according to a report released by Redfin.
The national median home price has increased to $318,978 — the highest on record — with a 14% rise just from 2019 in the latest report released at the end of September, last month. The 14% year to year increase was the largest since August 2013.
Gracen Tilton | Marshall Walker Real Estate | 582 Rutledge Avenue | email@example.com | 803-549-6318