Charleston’s housing market closed 2025 in a fundamentally different position than it occupied just two years ago. Home values grew just 1%, the slowest annual gain in more than a decade. Active listings tripled from pandemic lows. The fever broke.

The numbers tell a story of normalization. Inventory that bottomed at 1,170 active listings in 2022 has climbed to nearly 3,700. Homes that once sold in days now average 45 on market. More than a third of listings saw price reductions, the highest rate in five years.

For buyers who spent years on the sidelines, outbid on every offer or priced out entirely, the shift provides opportunity. Multiple offers are rare. Inspections happen. Negotiations are possible. The market behaves like a market rather than an auction.

Sellers must adjust expectations calibrated to a different era. Properties priced at pandemic valuations sit. The urgency that once let sellers name their terms has evaporated. Pricing strategy matters again.

The median price in October hit $647,000, actually down slightly from the previous year. While not a crash, the pause in appreciation changes the calculus for everyone from first-time buyers to investors to builders planning new projects.

Mortgage rates deserve much of the credit, or blame, depending on perspective. With rates touching 7% and higher, the math simply broke for many would-be buyers. Monthly payments on median-priced homes soared beyond reach.

Looking ahead, most forecasters predict continued moderation. The factors that overheated the market—pandemic relocations, work-from-home migration, historically low rates—have diminished. What remains is a fundamentally desirable region whose housing costs have risen faster than local wages can support.

The question for 2026: Does the market stabilize at current levels, or does cooling continue toward a more significant correction?