New data shows home values declining across much of the Southeast—including Charleston—even as the region avoids the sharper corrections seen elsewhere.
By Jennifer Jordan | Charleston Housing News
For years, Charleston seemed almost untouchable.
While housing markets across the country experienced periods of slowing demand, the Lowcountry consistently attracted new residents, strong job growth and a steady stream of buyers relocating from higher-cost states.
But new housing data suggests Charleston is no longer completely insulated from broader market forces.
According to the latest analysis of the Zillow Home Value Index by ResiClub, the Charleston-North Charleston metropolitan area recorded a 0.55% decline in home values between June 2025 and June 2026.
That isn’t a housing crash.
It’s also not appreciation.
Instead, it reflects something Charleston hasn’t experienced much over the past decade—a market that is becoming more balanced.
Charleston Isn’t Alone
Perhaps the biggest takeaway from the latest national data isn’t Charleston’s modest decline.
It’s the company Charleston now keeps.
Among the nation’s 300 largest housing markets, 68 metropolitan areas experienced year-over-year home price declines through June.
Many of those are in the Southeast.
Florida dominates the list.
Punta Gorda posted one of the nation’s steepest declines at more than 6 percent, followed closely by Cape Coral-Fort Myers. Other Florida markets showing annual price declines include Naples, Sarasota, Lakeland, Orlando, Tampa, Jacksonville, Miami, Panama City, Port St. Lucie, Palm Bay, Vero Beach, Ocala and several others.
Georgia also appears on the list.
Savannah recorded a 2.6 percent annual decline, while metro Atlanta posted a 1.71 percent decrease.
Charleston’s decline is considerably smaller.
But it places the Lowcountry within a regional trend that suggests many Southeastern housing markets are transitioning away from the rapid appreciation seen during the pandemic housing boom.
The Southeast Is Returning to Normal
The common thread connecting many of these markets is simple.
Most experienced extraordinary demand between 2020 and 2022.
Migration accelerated.
Inventory disappeared.
Prices climbed rapidly.
Builders responded by increasing construction.
Mortgage rates remained historically low.
That combination created one of the fastest periods of home appreciation in modern history.
Today’s market looks very different.
Mortgage rates remain elevated.
Affordability has become a growing challenge.
Inventory has increased across much of the Southeast.
Buyers now have more options and considerably more negotiating power than they did just a few years ago.
As supply improves and demand moderates, price growth naturally slows.
In some markets, it has begun moving slightly backward.
Charleston Remains More Resilient Than Many Markets
Although Charleston appears on the list of declining markets, context matters.
A 0.55 percent annual decline is relatively modest compared to many peer cities.
Florida communities that experienced some of the nation’s strongest pandemic appreciation are now correcting more noticeably.
Savannah, one of Charleston’s closest regional competitors, has also seen larger price declines.
Several factors continue supporting Charleston’s housing market.
Population growth remains healthy.
Employment remains diversified.
The region continues attracting retirees, military families, corporate relocations and remote workers.
Unlike some markets that experienced significant speculative buying during the pandemic, Charleston’s demand has generally been supported by long-term demographic trends.
That doesn’t mean prices will immediately resume rapid appreciation.
It does suggest the market may experience a more orderly adjustment than areas where prices rose faster than local economic fundamentals.
Buyers Are Regaining Leverage
Perhaps the biggest change isn’t declining prices.
It’s negotiating power.
As inventory has grown throughout the Charleston region, buyers are beginning to see opportunities that largely disappeared during the competitive markets of 2021 and 2022.
Price reductions have become more common.
Seller concessions are returning.
Inspection negotiations are once again part of many transactions.
Homes that are overpriced are spending longer on the market before selling.
For buyers who have spent several years waiting for conditions to improve, today’s market offers more choices and less urgency.
Sellers Must Adapt
The latest data also reinforces an important lesson for homeowners considering selling.
The market has changed.
Pricing strategies that worked three years ago no longer guarantee success.
Buyers have become more selective.
Competition among listings has increased.
Homes that enter the market priced according to yesterday’s values often require price reductions before attracting serious interest.
Properties that are well-priced, professionally marketed and move-in ready continue to sell.
Those that ignore today’s market conditions often remain available significantly longer.
A Healthy Reset—Not a Collapse
Charleston’s modest year-over-year decline should not be confused with the widespread housing collapse experienced during the Great Recession.
The underlying market dynamics are fundamentally different.
Employment remains strong.
Mortgage underwriting standards remain significantly healthier than they were before 2008.
Most homeowners continue to have substantial equity.
Instead, the Lowcountry appears to be experiencing what many economists have anticipated for months—a gradual normalization.
The era of double-digit annual appreciation has largely ended.
In its place is a housing market increasingly driven by realistic pricing, improved inventory and buyers who once again have meaningful choices.
For Charleston, that may ultimately prove healthier than another period of unsustainable price growth.
The market may no longer be racing ahead.
But compared to many of its Southeastern neighbors, it is still holding its ground remarkably well.
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