May 2026 Real Estate Market Report
The CTAR Market Reports for May 2026 have arrived. Stay Informed here each month.
Market Update: May 2026
The Charleston real estate market continued to show resilience through May, with conditions varying by neighborhood. While inventory has given buyers more opportunities in some areas, demand for well-priced homes remains strong, particularly in Charleston’s most desirable communities. Below is a snapshot of how several key markets are performing year to date compared to what we saw this time last year.
South Mount Pleasant
Lower Mount Pleasant continues to be one of the area’s strongest luxury markets, with home values trending upward despite a slight decline in closed sales.
- Median sales price increased 4.3% to $1,251,125.
- Average sales price rose 6.2% to $1,572,190.
- New listings increased 4.5%, giving buyers slightly more options.
- Closed sales dipped 1.5%, while homes averaged 39 days on market.
North Mount Pleasant
The Upper Mount Pleasant market has become more balanced, with pricing softening modestly while homes continue to sell relatively quickly.
- Median sales price declined 8.3% year over year to $967,500.
- Average sales price decreased 2.5%.
- Closed sales were down 6.0%.
- Average days on market improved to 40 days, down from 46 last year.
Isle of Palms
Isle of Palms has maintained strong buyer demand through the first five months of 2026.
- Closed sales increased 42.1%, rising from 38 to 54 transactions.
- New listings remained unchanged year over year at 107, reflecting steady inventory coming to market.
- Average sales price measured $3,005,531, down 9.9% from the same period last year.
- Homes spent an average of 67 days on the market, a 19.6% increase year over year, signaling a more balanced pace of sales.
Sullivan’s Island
Sullivan’s Island continues to demonstrate the strength of Charleston’s ultra-luxury waterfront market, with record pricing despite a limited number of transactions.
- Median sales price increased 28.8% to $5,025,000.
- Average sales price rose 16.3% to $5.84 million.
- Closed sales increased 6.7%.
- Inventory remains extremely limited, helping support continued appreciation.
Downtown Charleston
Demand across Downtown Charleston remains healthy, supported by increased inventory and continued appreciation in home values.
- Closed sales increased 21.6% year to date.
- Median sales price reached $2,550,000, up 43.5%.
- Average sales price surpassed $3 million.
- Buyers have more inventory to choose from, although luxury homes continue to command strong pricing.
Upper Charleston Peninsula
The Upper Charleston Peninsula continued to build momentum through the first five months of 2026, with stronger buyer activity and rising home values.
- Closed sales increased 23.3%, rising from 60 to 74 transactions
- Average sales price climbed 6.8% to $1,107,039, surpassing the $1 million mark.
- New listings declined 11.3%, with 110 homes coming to market compared to 124 last year.
- Homes spent an average of 50 days on the market, up 13.6% year over year, reflecting a more measured pace while demand remained healthy.
West Ashley
West Ashley remains one of Charleston’s most active markets, offering buyers a wide range of housing options with improving affordability.
- Median sales price declined 4.3% to $550,000.
- Average sales price decreased 10.1%.
- Closed sales were down 3.4%.
- Homes averaged 40 days on market, reflecting a more balanced pace than recent years.
Market Takeaway
Charleston’s luxury markets continue to lead the region, with South of Broad, Downtown Charleston, and Sullivan’s Island posting some of the strongest price appreciation in the Lowcountry. Lower Mount Pleasant remains highly competitive, while Upper Mount Pleasant and West Ashley are showing signs of a healthier, more balanced market. As inventory gradually improves across many neighborhoods, buyers have more choices than they have had in recent years, while sellers continue to benefit from historically strong home values in many of Charleston’s most desirable communities.
