Charleston, SC 29401 Real Estate Market Report

ZIP Code: 29401
Report Date: March 2026
Market Temperature: HOT
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

As of March 2026, the median sold price in Charleston, SC (ZIP: 29401) stands at $2,695,000, reflecting a robust market dynamic. The neighborhood has increased 15% since 2023, indicating strong demand and a competitive landscape. Despite elevated inventory levels, the market remains active, suggesting that buyers are still willing to engage at these price points, driven by favorable interest rates and a growing local economy.

Transaction activity shows moderate sales velocity, with properties spending a median of 341 days on the market. This extended duration may suggest a degree of pricing friction, particularly as the median listing price is significantly higher at $3,195,000. The current market temperature is classified as hot, indicating a strong buyer interest, although the flat year-over-year trend in rental prices suggests a more stable rental market, which could influence buyer sentiment moving forward.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Hot market indicates strong buyer demand with limited inventory, typically characterized by rising prices, quick sales (low days on market), and inventory levels below historical averages.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Charleston SC 29401 average around 5.875% to 6.14%, which is notably lower than the rates typical for loans originated in 2026, presenting a potential refinancing advantage for property owners.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. The median sold price of $2,695,000 indicates a strong market presence, with significant appreciation over the past few years.

2. Despite a median listing price of $3,195,000, the market remains competitive, suggesting that buyers are responding positively to the available inventory.

3. With a median days on market of 341, the extended time frames may indicate caution in pricing strategies among sellers.

4. The median market rent of $2,470 remains stable, which may influence buyer decisions as they weigh rental versus purchase options.

5. Current interest rates, averaging between 5.875% and 6.14%, present a potential refinancing advantage for property owners, further stimulating market activity.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.