Ever see a headline about “months of supply” or “days on market” and wonder what it actually means for your Charleston home search or sale? You are not alone. Market stats can feel like a foreign language, especially when the data mixes condos, historic homes, new builds, and waterfront properties across the metro. In this guide, you will learn how to read the most important metrics, how Charleston’s micro-markets change the story, and which signals matter most when you are buying or selling. Let’s dive in.
The big three metrics in plain English
Months of supply explained
Months of supply shows how long it would take to sell today’s active listings at the current sales pace. The simple formula is Active Listings divided by Monthly Closed Sales. Pros often use a 3 or 12 month average to smooth the ups and downs.
Here is the quick rule of thumb:
- Less than 3 months suggests a seller’s market with tight inventory.
- Around 4 to 6 months suggests a balanced market.
- More than 6 months suggests a buyer’s market with more options.
Keep in mind that months of supply depends on price tiers and property types. A county-wide number can hide very tight segments for entry-level homes while luxury or new construction might sit much longer.
Days on market (DOM)
Days on market measures how long a home is on the market before going under contract. Shorter DOM often signals strong demand. Rising DOM can point to cooling conditions or buyers taking more time.
DOM quirks matter. Relisting, withdrawing and relisting, or switching brokerages can reset the counter. Median DOM is usually more reliable than the average when a few slow sales skew the results.
Sale-to-list ratio
Sale-to-list ratio is the final sale price divided by the last list price, expressed as a percentage. It helps you see where negotiation is landing.
General guideposts:
- Over 100 percent can indicate bidding competition and over-asking outcomes.
- Between 98 and 100 percent suggests sellers are getting close to asking.
- Below 95 percent can signal larger buyer discounts.
Just remember the ratio depends on the most recent list price. A home that had big price cuts might show a lower ratio even if it took months to sell.
Why Charleston averages can mislead
Charleston is a collection of distinct micro-markets. The peninsula, suburbs, barrier islands, and exurban corridors each have their own product mix, buyer pools, and seasonality. Reading any single county statistic without context can lead you off course.
Submarket snapshots
- Charleston Historic District (downtown peninsula): Mix of condos and historic homes, often small inventory, frequent seasonal listing patterns, and higher price per square foot for unique properties.
- Mount Pleasant: A large single-family market with both established neighborhoods and newer subdivisions, plus some waterfront communities.
- West Ashley: More options in older single-family homes and relatively more affordable choices than some coastal areas.
- James Island and Johns Island: Blend of resale and new construction, varied lot sizes, and different levels of flood exposure by area.
- North Charleston: Diverse housing stock from entry-level to mid-market with proximity to major employers.
- Summerville and Dorchester County: Suburban and exurban communities with newer subdivisions and often larger lots.
Price tiers and property types
Price matters. Entry-level single-family or condos typically move fastest. Luxury homes at 1 million dollars and above usually show higher months of supply and longer DOM. Condos that allow short-term rentals can trade on a different cycle than primary residences. New construction often sits in inventory longer as builders manage models, incentives, and release schedules.
Seasonality, tourism, and risk
Charleston sees more listings and buyer activity in spring and summer. A short-term dip in months of supply during peak season might be seasonal noise, not a long-term shift. Properties in flood zones or those requiring higher-cost flood insurance can take longer to sell or close at discounts. Short-term rental potential can also distort DOM and prices in certain buildings or blocks. Local road improvements and employment centers may push demand into specific corridors.
Read the signals like a pro
Composite checklists you can use
- Seller’s market signals: Months of supply under 3, DOM falling, sale-to-list ratio near or above 100 percent, and a high pending-to-new listings ratio. Expect multiple offers and faster timelines.
- Cooling market signals: Months of supply rising, DOM increasing, sale-to-list ratio slipping, and slower price growth. Buyers gain room to negotiate; sellers need sharper pricing and stronger presentation.
- Mixed market signals: County numbers look balanced, but entry-level is tight while luxury is loose. Strategy depends on your price band and property type.
- Seasonal noise: One month spikes in small neighborhoods are common. Lean on 3 month or 12 month trends before making a call.
Practical Charleston scenarios
- Downtown condos in summer: DOM hits lows and sale-to-list pushes over 100 percent for sub-500 thousand dollar condos. That pattern points to investor or second-home demand. Buyers should expect cash offers and move quickly. Sellers can time listings for high visibility.
- Johns Island luxury lots: Elevated months of supply and long DOM suggest a smaller buyer pool and longer marketing horizons. Sellers should focus on targeted outreach and clear pricing against relevant comps.
- Entry-level single-family in West Ashley: Low months of supply with frequent multiple offers. Buyers should walk in pre-approved with clear escalation limits. Sellers can price confidently when aligned with recent sales.
- New construction in suburban subdivisions: Inventory appears to sit, sale-to-list hovers below 98 percent, and builders offer incentives. Buyers can negotiate closing cost help or upgrades. Sellers of nearby resales should account for builder competition.
Finding stats you can trust
Primary local sources
Local MLS and association reports are the best view into current listings, pendings, closed sales, and DOM in the Charleston area. Public records at county offices confirm recorded sales but often lag. Local broker snapshots add useful neighborhood color.
Why numbers differ across sites
- Timing windows: Some dashboards report by close date, others by list date or contract date. Mixing these can skew months of supply or monthly sales comparisons.
- Active vs. active-under-contract: Certain systems keep active-under-contract in active counts, while others shift them to pending. That changes inventory totals.
- DOM resets and relists: Without cumulative DOM, relisted properties can look fresher than they are.
- New construction: Builder inventory may be reported differently and sometimes not fully shown on MLS.
- List price changes: Sale-to-list depends on whether you use original list or last list price.
Compare apples to apples
When you review a chart or talk with your agent, ask for:
- The time window used and whether results are rolling 3 or 12 month averages.
- Definitions for each metric, including how months of supply was calculated.
- A breakdown by price band and property type in your target ZIP or neighborhood.
- Notes on small sample sizes in micro-markets where a few sales can distort the trend.
What to watch in your neighborhood
Quick buyer checklist
- Track months of supply and the pending-to-new listings ratio for your target price tier and property type.
- Get pre-approved and keep recent closed comps in the last 90 days handy.
- Watch DOM trends and price cuts. Frequent reductions signal room to negotiate.
- Ask for cumulative DOM on any property that looks “new” after a relist.
Quick seller checklist
- Study active competition in your price band and neighborhood, not just county medians.
- Set an initial list price supported by nearby closed sales and current absorption.
- Monitor showing traffic and offer feedback. If DOM rises past local norms, adjust price or marketing.
- In higher months-of-supply segments, consider enhanced presentation and targeted outreach to the right buyer pool.
Simple visuals that make sense fast
- A months of supply trend line for Charleston County plus 3 to 4 major submarkets to reveal divergence.
- Months of supply by price band to see which tiers are tight or loose.
- A DOM distribution showing the share selling under 15 days, 15 to 60 days, and 60 plus days.
- Sale-to-list ratio by price tier to map negotiation power.
- Active, pending, and new listings over time to show absorption.
- A ZIP-level price map to understand micro-market differences at a glance.
Putting it together for your next move
You do not need to be a statistician to use Charleston housing data well. Focus on a few core metrics, segment by your price band and property type, and compare results over a 3 to 12 month window. From there, match your strategy to the composite signals you see. When the data says tight supply with falling DOM, you prepare for speed. When it points to rising months of supply and softening ratios, you lean into negotiation and positioning.
If you want a clear, local read on your neighborhood and price tier, reach out for a tailored breakdown and action plan. Contact PRL Consulting Group, LLC to Request a Market Valuation or Project Consultation.
FAQs
What does “months of supply” mean in Charleston?
- It estimates how long today’s active homes would take to sell at the current pace, and by price band it tells you whether to expect competition or negotiating room.
Why do downtown and suburban stats look so different?
- Product mix, seasonality, flood exposure, and investment demand vary by area, so one county number rarely captures what is happening on your street.
How can days on market reset after a relist?
- Withdrawing and relisting or switching brokerages can show a fresh DOM count, so ask for the property’s cumulative marketing time.
What is a “good” sale-to-list ratio in Charleston?
- Around 98 to 100 percent means sellers are landing near asking, while over 100 percent suggests competitive bidding in certain niches or price bands.
Which time window should I use to judge trends?
- Use 3 month rolling averages for near-term reads and 12 month averages to smooth seasonality, especially in small neighborhoods.
Should I trust national portals for pricing my home?
- They are helpful starting points, but methods differ and unique or historic properties can be mispriced, so rely on a local CMA for listing decisions.
