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Buying a home isn’t easy right now. Rates are higher than you want. Prices feel like they’re stuck on fast-forward. And every headline seems to say something different. It’s no wonder so many people are waiting for a clearer picture before making a move.
Mortgage rates have fallen to around 6.3%, and buyer activity has spiked. That’s good news. The challenge is determining what this means for your plans in Charleston.
Ryan Serhant, star of Netflix’s Owning Manhattan, recently joined FOX Business to explain what’s going on in housing right now. What he said may surprise you.
As Serhant put it:
“This isn’t a buyer’s market or a seller’s market. It’s nobody’s market because no one knows what to do.”
If you’re thinking about making a move in Charleston, here’s what that means for you.
Charleston Local Market Quick Stats
Latest 2025 numbers in Charleston:
- Median home price: $422,295
- Active listings: 5,099
- Days on market: 52
What You Should Know About Mortgage Rates
Buyers feel uncertain about affordability. Sellers are nervous about their next move. Everyone is waiting for someone else to act first.
While rates have come down from their peak earlier this year, Realtor.com’s forecast shows they’ll remain close to current levels for a while (low 6s). If you’re waiting for a significant drop, that may not happen.
Serhant clarified this:
“New normal is not low rates. I think people are confused that we’re entering a new normal where we’re going to have lower rates. It’s not going to happen.”
Getting Creative Can Help You Win
Rather than waiting for rates to drop, today’s market rewards strategy instead of hesitation. Serhant gave a real example:
“I was talking to a client who would never do an adjustable rate mortgage, who now is because they can get it at just over 5%. And they’re (probably) not going to be in the house for 5 years anyway. And it makes sense for that monthly budget.”
Exploring all available options can help you move sooner. The key is ensuring they fit with your specific needs and future goals.
Tools that can help buyers in Charleston:
- Adjustable-rate mortgages that match how long you’ll stay
- Temporary rate buy-downs to lower monthly payments
- Seller credits to reduce upfront costs
- Expanding your search to include overlooked opportunities
There are more pathways to homeownership than ever.
Finding the Right Home in Charleston
If you’re hoping to buy, the most significant risk is waiting for a perfect time that never comes.
Serhant explained it clearly:
“I think affordability is definitely a crisis, but if you’re paying a lot in rent and you’re looking to build equity and you want to buy, now’s as good a time as any."
The right strategy can turn this “nobody’s market” into your market, especially when you have a strategy nerd in your corner who knows exactly how to help you win.
Have any questions?
We’ve got answers. Tell us what’s on your mind and what your goals are, and we’ll make a plan to help you meet them.
