Summer Market Update 2013

MARKET UPDATE

The Market in Downtown Charleston

South of Broad Market Facts

This area is defined as the lower section of the peninsula located to the south of Broad Street, a main thoroughfare bisecting the oldest part of the city. Broad Street houses many businesses including banks and real estate offices, as well as a large collection of art galleries. Just past Broad Street heading south are some of the stateliest historical mansions in South Carolina.

On the Market

Featured Property

The Sword Gate House rests behind one of the most recognized gates in all of Charleston. This very fine Federal style home is grand with Adam detailed beautiful wood and plaster work. It is positioned well back from Legare and Tradd Streets and is surrounded on all sides by a magnificent collection of Charleston gardens and patios. This important property boasts an unsurpassed level of detail and technology; the product of a painstakingly thorough renovation project spanning years.

32 Legare Street 9BR/13+B | 17,142 SqFt $18,800,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

New York, New York 5BR/5.5B 4,799 SqFt $18,900,000 Sotheby’s International Realty East Side Manhattan Brokerage

Moscow, Russia 5B 26,038 SqFt $18,500,000 Moscow Sotheby’s International Realty 4

Costa del Sol, Spain 7BR/8.5B 26,081 SqFt $19,912,386 Kristina Szekely Sotheby’s International Realty

Harleston Village Market Facts

Located to the southwest of downtown, Harleston Village is a diverse and vibrant area of Charleston. Originally owned by the widow Harleston, who created today’s neighborhoods and streets from her husbands farm land. One of the larger downtown neighborhoods, Harleston Village is minutes from The Battery and home to Colonial Lake, Cannon Park, Moultrie Park, and the City Marina.

On the Market

Featured Property

As stunning as it is rich in history, the Bennett-Hayne House, circa 1800 was completely restored in 2009 with great sensitivity to preservation and modern comfort. The home was built by Thomas Bennett, mayor of Charleston and governor of South Carolina. It served as the childhood home of Paul Hamilton Hayne, the "Poet Laureate of the South." The ornate molding and detail in this home is considered among the finest examples of Adamesque woodwork in Charleston. The roof is fully restored with Royal Purple Slate taken from the same quarry in Wales as the original.

Expansive two-tiered piazzas with impressive Tuscan columns overlook the gardens below.

113 Ashley Avenue 5BR/3.5B | 5,669 SqFt $2,190,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

Honolulu, Hawaii 4BR/4.5B 3,769 SqFt $2,199,000 Mary Worrall Associates Sotheby’s International Realty

Key Largo, Florida 5BR/5+B 5,169 SqFt $1,945,000 Russell Post Sotheby’s International Realty 6

Siena, Italy 5BR/4B 4,036 SqFt $2,588,610 Tuscany Sotheby’s International Realty

French Quarter Market Facts

The French Quarter is well known in downtown Charleston for its cobblestone streets, lovely alleys and unique historical homes. Originally named for the large concentration of French Huguenots living here, the French Quarter has no lack of charms with the famous Church Street, Queen Street and fabulous renovated warehouses and preRevolutionary buildings.

On the Market

Featured Property

Enjoy the most spectacular views available in historic Charleston. This property commands panoramic views of Fort Sumter, the Charleston Harbor, the Ashley and Cooper rivers, the Atlantic Ocean, Sullivan's Island, the Ravenel Bridge, and the city's many beautiful rooftops and steeples. Watch the abundant activity on the water, from ships heading out to sea to sailing regattas. The building entry has an elegant lobby with a coded elevator and secure private parking.

Walk into the spacious open living area, with gas fireplace, wet bar, and wall of windows overlooking the water, seating areas, and a large dining area. Enjoy a master suite with master bath and two additional bedrooms with baths ensuite.

18 Broad Street, #602 3BR/3.5B | 2,869 SqFt $1,999,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

Cape Town, South Africa 6BR/6.5B 43,755 SqFt $1,954,471 Lew Geffen Sotheby’s International Realty

Queenstown, New Zealand 4BR/3B 3,907 SqFt $1,974,373 New Zealand Sotheby’s International Realty 8

San Jose, Costa Rica 5BR/5.5B 8,611 SqFt $1,800,000 Costa Rica Sotheby’s International Realty

Ansonborough Market Facts

Ansonborough is defined as the area between King and East Bay and George and Pinckney Streets just north of the historic market and Custom House. Rebuilt after the great fire of 1836, Ansonborough was the city’s first suburb and boasts some impressive historic homes which have undergone extensive restorations thanks to the work of the Historic Charleston Foundation.

On the Market

Featured Property

This extra-sized lot offers a quiet oasis back behind the beautiful wrought-iron automated gates. There is a two level Loutrel Briggs garden to the side and rear of the house that can be enjoyed from the garden room addition to the main house. On the first floor, as you enter from the piazza, there is a front sitting room to your right and a formal dining room to your left that leads into a butler's pantry and then into the main kitchen. To the rear is the garden room addition. On the second floor, there is a front library/office with a built-in wet bar. Ansonborough is the center of town; you can find almost every single service or amenity that you might want within a short walking distance.

42 Society Street 3BR/2+B | 3,500 SqFt $1,949,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

Stockholm, Sweden 3BR/2B 2,702 SqFt $1,931,725 Sweden Sotheby’s International Realty

Saint James, Barbados 4BR/4B 55,694 SqFt $2,000,000 West Coast Villas Sotheby’s International Realty 10

Tucson, Arizona 4BR/4B 6,400 SqFt $2,000,000 Russ Lyon Sotheby’s International Realty

Radcliffeborough Market Facts

Radcliffeborough is an area north of Harleston Village and offers some of the hippest new restaurants and bars located on Upper King Street.

St Phillip Street is the main hub of the College of Charleston, with its 10,000 undergrad students.

Recently Sold

Featured Property

Located in trendy Radcliffeborough in Historic Charleston, this classic Charleston Single House is bright, sunny, and full of charm. With its high ceilings, hardwood floors, side and back porches, and the ample rear yard, this is a house with a personality. A great location, well designed interiors, and fabulous outdoor living combine to make 42 Warren a very sophisticated address. Sold recently for $325 per square foot, well over the average of $300 per square foot for Quarter 2 of this year.

42 Warren Street 3BR/2.5B | 2,182 SqFt Sold for $725,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

North Falmouth, Massachusetts 5BR/3.5B 3,466 SqFt $695,000 Sotheby’s International Realty Falmouth Brokerage

Eleuthra, Bahamas 3BR/2B 1,500 SqFt $750,000 Damianos Sotheby’s International Realty 12

Tucson, Arizona 5BR/4B 4,640 SqFt $750,000 Russ Lyon Sotheby’s International Realty

Canonborough & Elliotborough Market Facts

Cannonborough and Elliotborough are located above Morris and Bee Streets on the Peninsula and house a large portion of Charleston’s student population. Well located for walking access to the College of Charleston, Medical University and also to Upper King Street’s restaurants and bars, this area is a lively urban mix of age groups.

On the Market

Featured Property

Wonderful corner property with ample parking and is currently divided into four apartments. Each apartment has a stove and refrigerator, washer and dryer. In an ideal location, just a short walking distance to either C of C or MUSC, this area is brimming with a students and young professionals. With the high population of student residents, this area has many well priced homes and is a prime location to invest in a rental property. Many homes have been converted into multiple units, making it an ideal mix of history and practicality.

132 Spring Street 8BR/4B | 2,870 SqFt $849,000 Daniel Ravenel Sotheby’s International Realty

Recently Sold At Auction Modern and Post-War British Art Dame Elisabeth Frank, R.A. From the Collection of Milton Ginsburg Horse and Rider Sold for $859,381

14

Wagener Terrace & Hampton Park Market Facts

Wagener Terrace is a suburban area with marsh views and numerous well located, moderately priced homes. Hampton Park gains its name from the large green space in its center which was a world fair site in 1900.

On the Market

Featured Property

Located in the heart of Wagener Terrace, this charming, move-in ready home has a lovely open floor plan and an abundance of windows to allow for a lot of natural light throughout. The owners have updated the kitchen with new appliances (2007), resealed the metal roof (2007), remodeled the bathroom (2009), and painted the entire house in 2012. In addition to the full bath there is a working sink/vanity in the master to give it a 1.5 bath feel. There is ample storage for this size home as well. The backyard has a wonderful workshop/storage room that is wired for electricity and a deck to sit and enjoy the Charleston evenings. Stroll a few blocks to Hampton Park or to watch the sunset over the Ashley River.

14 Gordon Street 3BR/1B | 1,269 SqFt $314,900 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

British Columbia, Canada 2BR/2.5B 1,278 SqFt $395,284 Sotheby’s International Realty Canada

Western Cape, South Africa 4BR/4B 3,369 SqFt $325,743 Lew Geffen Sotheby’s International Realty 16

Minneapolis, Minnesota 4BR/2B 2,482 SqFt $339,900 Lakes Sotheby’s International Realty

Wraggborough Market Facts

Wraggborough is an area north of Ansonborough which features lovely ancient oaks and parks alongside well constructed, historic homes in a variety of price ranges. Originally owned by the Wragg family and divided among the descendents, it is home to the Charleston Museum which is the oldest museum in America.

On the Market

Featured Property

Victorian home with a Key West flair overlooking a fountain and charming park. Within walking distance to Upper King Street restaurants, the Charleston museum, and library. The property is currently a single family home with two meters and an upstairs kitchen that could be a potential duplex. The main floor has a large living room with french doors that open onto the piazza; adjacent is a separate dining room with pocket doors, office/den area with storage, a full bath and renovated kitchen with top of the line appliances.

57 Chapel Streel 4BR/3B | 2,460 SqFt $825,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

La Barra, Uruguay 4BR/4.5B 11,593 SqFt $900,000 Perazzo Inmobiliaria Sotheby’s International Realty

Las Vegas, Nevada 2BR/2.5B 2,055 SqFt $899,900 Synergy Sotheby’s International Realty 18

Fort Lauderdale, Florida 2BR/2.5B 2,170 SqFt $899,000 ONE Sotheby’s International Realty

Destination: Charleston Video

The Market in the Charleston Area

Johns Island Market Facts

A stunning contrast to more developed areas of Charletson, Johns Island is truly a diamond in the rough. One only needs to drive the lovely scenic roads to discover the charm of its maritime forests and unspoiled natural beauty. The second largest island on the East Coast (second only to Long Island NY), Johns Island was traditionally a planting community for early settlers of Charlestowne.

Recently Sold

Featured Property

This charming 1920's cottage located on Adams Creek in historic Rockville boasts a sprawling 3.5 acre property with beautiful oaks, azaleas and palmettos. Fantastic sunset views from the gardens and lawn overlooking the marsh. The deep water dock offers great access to fishing, shrimping, boating and any activities on the water. The short dock with a floater has plenty of water at low tide. Daniel Ravenel Sotheby’s International Realty had agents on the listing and selling side of this transaction.

6992 Maybank Highway 4BR/2B | 2,709 SqFt Sold for $820,000 Daniel Ravenel Sotheby’s International Realty

Recently Sold At Auction Large KPM Rectangular Plaque Late 19th Century Painted and Signed by Otto Wustlich Carved giltwood frame Sold for $22,500

24

James Island Market Facts

A well established community, James Island is a large island west of downtown Charleston, separated from West Ashley by the Stono River.

This area offers a large selection of moderately priced single family homes, as well as apartments and condominiums. In exploring James Island, one will find numerous gems with deep water docks, along with moderately sized homes framed by ancient oaks and magnolia trees.

Recently Sold

Featured Property

This deep water property located on a high bluff overlooking the Intercoastal Waterway (Wappoo Creek) is only five minutes from the center of downtown Historic Charleston. The 1926 home is delightful and takes full advantage of the tremendous view. The deck and porch give great access to the outside and of course the dock is a great place for a large sailboat and to entertain the young and old four seasons a year.

1838 Maybank Highway 5BR/2.5B | 4,011 SqFt Sold for $1,473,500 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

Quang Nam, Vietnam 3BR/3B 6,566 SqFt $1,500,000 Vietnam Sotheby’s International Realty

Grants Pass, Oregon 6BR/4+B 9,704 SqFt $1,500,000 Cascade Sotheby’s International Realty 26

Guanajuato, Mexico 6BR/6.5B 5,113 SqFt $1,295,000 Agave Sotheby’s International Realty

West Ashley (inside 526) Market Facts

West Ashley is located across the Ashley River, to the west of Downtown Charleston. One of the early suburban developments in the area, West Ashley offers a number of historic neighborhoods built in the mid 20th century. Well located, being just minutes from downtown, West Ashley offers an array of moderately priced, often brick homes on ample sized lots, some on the water with marsh views.

On the Market

Featured Property

Deep water property with dock, boat lift, and built-in storage locker. Situated at the quiet end of Ashley Harbor this elegant brick home, built on a high bluff, has outstanding uninterrupted water and marsh views from all of the main rooms. Sliding glass doors access brick patios from the dining room, family room, master bedroom and kitchen. A light and bright home with 12ft ceilings on the first floor complete with rich moldings and wainscoting.

1564 Spinnaker Lane 4BR/3+B | 4,659 SqFt $1,345,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

Aquitaine, France 9BR/2B 3,983 SqFt $1,282,051 Biarritz Sotheby’s International Realty

Johannesburg, South Africa 4BR/4.5B 7,500 SqFt $1,288,765 Lew Geffen Sotheby’s International Realty 28

Orion Township, Michigan 4BR/4+B 5,630 SqFt $1,370,000 SKBK Sotheby’s International Realty

Charleston Peninsula (Below Crosstown) Market Facts

Located on a peninsula between the Ashley and Cooper Rivers, Downtown Charleston is a bustling pedestrian city full of artists, businesspeople, students, and families. Cobblestone streets lined with live oaks lead to winding alleys full of charm. The famous Charleston gardens hide behind walls and iron gates, and magnificent parks such as White Point Gardens attract visitors from all over the world.

On the Market

Featured Property

11 Church, circa 1790, is located on one of Charleston's most sought-after addresses, below the bend on lower Church Street. South of Broad and just steps from the Battery. this exquisite four story residence has been completely restored and redesigned. Eric Cohler, award winning designer, creates interior designs that infuse traditional forms with the unexpected. At 11 Church, he has married the history of this grand home with updates for 21st century living.

Cohler's thoughtful design and carefully selected finishes have created a sense of elegance, comfort and warmth. The floor plan of this gracious 6.000 square foot home includes six bedrooms, and five full baths.

11 Church Street 6BR/5+B | 6,000 SqFt $3,475,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

Colima, Mexico 6BR/15B 31,730 SqFt $3,900,000 Guadalajara Sotheby’s International Realty

Park City, Utah 5BR/4+B 8,694 SqFt $3,500,000 Summit Sotheby’s International Realty 30

Moscow, Russia 4+BR/4.5B 5,005 SqFt $3,400,000 Moscow Sotheby’s International Realty

Mt. Pleasant (South of IOP Connector) Market Facts

Mt. Pleasant is located just north of downtown Charleston, and has many lovely homes in varied price ranges. Originally accessed via ferry and later two bridges, Mt. Pleasant is now a quick zip over the new Ravenel Bridge, completed in 2006. With this ease of access, Mt. Pleasant is quickly becoming the most popular spot for new residents in the Charleston area.

On the Market

Featured Property

Unique and fabulous, this penthouse is unlike any other in Charleston. Spectacular views of the Cooper River, Charleston Harbor, and more surround you in this spacious light filled penthouse with over 4,000 square feet of luxury living. 11 ft. ceilings, stunning river views, and a sunny open floor plan welcome you home the moment the door of your semi-private elevator opens. Spacious and luxurious living room and dining room, with access to balconies offering views of the river, the Yorktown, Charleston Peninsula and Arthur Ravenel Bridge. Beautiful and functional eat-in kitchen with plenty of space, built-ins and track lighting, flows into the family room area, complete with a gas log fireplace.

181 North Plaza Court, Penthouse 1 3BR/3.5B | 4,116 SqFt $2,675,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

Genoa, Italy 3BR/2B 1,615 SqFt $2,657,101 Milan Sotheby’s International Realty

Seattle, Washington 3BR/3.5B 3,205 SqFt $2,500,000 Realogics Sotheby’s International Realty 32

Gros-Inlet, St. Lucia 4BR/4.5B 4,984 SqFt $2,100,000 St. Lucia Sotheby’s International Realty

Waterways and marsh views are a common thread throughout Mount Mt. Pleasant Pleasant, and life moves in the rhythm with those tidal creeks. One has only to search for homes in the Mount Pleasant area to notice the num(North of IOP Connector) ber of water views and lots looking out on open marsh. Enjoy the South Carolina’s pristine Lowcountry waters and wildlife, while remaining Market Facts within only minutes of Downtown Charleston in Mount Pleasant.

Days Da ys on on Market Market (listings (listings over over $1M) $1M)

Total T otal Sales Sales over over $1M! $1M! 1000

10 !

5!

500

2!

630 341

190

Days Da ys on on Market Market

354

Cumulative Cumulative Days Days on on Market Mark rket et

0

0!

Q1 Q1 2013!

2013!

Q1 Q1 2013

Q2 2013!

2013!

Q2

Q Q22 2013

Months Months of of Inventory(all)!

Inventory(all)!

N Number umber of of Listings(all)!

Listings(all)!

16!

16!

14!

14!

12!

12!

10!

10!

88!!

66!!

44!!

22!!

00!!

770 !

765 !

760 !

755 !

750 !

745 !

740 !

735 !

730 !

725 !

Jan! Jan!

Jan! Mar! Apr! M May! ay! JJun! un!

Ja n! Feb! Feb! M ar! Apr!

Average A verage Sale Sale Price Price (listings (listings over over $1M)! $1M)! $1,650,000 $1, 650,000 !

Apr!! M May! ay!

FFeb! eb! Mar! Mar! Apr

JJun! un!

Price P rice P Per er Sqft(over Sqft(over $1M)! $1M)! $400 !

$347 !

$1, 332,500 ! $1,332,500

$1, 225,000 ! $1,225,000

$262 !

$300 !

$1,150,000 $1, 150,000 ! $650,000 $650, 000 !

$200 !

$150, $150,000 000 !

$100 !

Q Q11 2013 2013!!

Q1 Q1 2013!

2013!

Q Q22 2013 2013!!

Q2 Q2 2013 2013!!

List List Prices Prices versus versus Sold Sold Prices Prices (listings (listings over over $1M)! $1M)! $2,000,000 $2, 000,000 ! $1,500,000 $1, 500,000 ! $1, $1,000,000 000,000 !

$1, $1,745,000 745,000 !

432,500 ! $1, $1,432,500 $1,225,000 000 !

$1, $1,543,799 543,799 ! $1, $1,398,799 398,799 ! $1,332,500 500 !

Price LList ist P rice !

$500,000 $500, 000 ! $- !

O Original riginal List List P Price! rice!

Sold Sold Price!

Price!

Q1 Q1 2013!

2013!

Q2 Q2 2013!

2013!

On the Market

Featured Property

It is all about lifestyle with this incredible property. Sit by the pool or take your boat for a cruise down the river.

Located on deep water with boat lift and floating dock. Enjoy beautiful sunset views. This Mediterranean Style stucco home has many custom features. There is a game room with built in bar, professional outfitted office, media room with large projection TV and surround sound. Elevated pool deck including heated and cooled infinity pool, spa, fire pit, koi pond, outdoor kitchen. Deep water dock with pier head, 30 ft floating dock and boat lift. For the car collector there is a 3 bay daily use garage plus 7 car storage garage/utility room. The house boasts an open floor plan with wonderful flow and views of the Wando River.

1982 Sandy Point Lane 5BR/5+B | 10,500 SqFt $4,750,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

La Jolla, California 4BR/3.5B 4,820 SqFt $5,000,000 Pacific Sotheby’s International Realty

Arden, England 7BR/8B 49,003 SqFt $4,577,192 United Kingdom Sotheby’s International Realty 34

Honolulu, Hawaii 3BR/3.5B 2,808 SqFt $4,995,000 Mary Worrall Associates Sotheby’s International Realty

Sullivans Island Market Facts

Just past the fabulous shopping and dining in Mount Pleasant sits the historic Sullivan’s Island. This beachfront community is steeped in tradition, and has a deep respect for nature. Homes range in price and run from large beach front mansions to smaller deep water homes accessing the Intracoastal Waterway.

Recently Sold

Featured Property

This beautiful marshfront property is nearly 3/4 acres and is situated at the end of a quiet street on the back side of the island. The home has excellent flow, and the floor plan takes advantage of the stunning views. Features include a high-end gourmet kitchen with large island, a spacious sunroom connecting to kitchen and living area, large deck, private gazebo with porch swing, expansive light-filled living room with vaulted ceiling, a large master with private balcony, separate closets, sitting area, and separate shower and antique footed bath.

1802 Back Street 5BR/3.5B | 5,669 SqFt Sold for $1,405,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

Paradise Island, Bahamas 1BR/2B 1,100 SqFt $1,395,000 Damianos Sotheby’s International Realty

Klaipeda, Lithuania 2BR/2B 2,185 SqFt $1,396,486 Baltic Sotheby’s International Realty 36

North Jackson Hole, Wyoming Land 32 Acres $1,395,000 Tomlinson Sotheby’s International Realty

Isle of Palms & Wild Dunes Market Facts

Isle of Palms is an enchanting beach community with grand mansionstyle, luxury dwellings. Homes on this island range from 5 to 8 or more bedrooms and average 5,000 to 7,000 square feet. Many of the island retreats for sale here sit on an average of 1 to 1.5 acres of land and sclaim their brilliance through subtle colors and grand structure.

Recently Sold

Featured Property

This four bedroom beachfront home provides an incredible opportunity to own a primary residence, family beach house or investment property on the beautiful coast of Isle of Palms. The open floor plan provides spectacular views, bright rooms and comfortable living. Sea Oats Club is private community consisting of twelve individually owned homes, a community pool and a community walkway to the beach.

12 Surf Lane 4BR/3.5B | 2,210 SqFt Sold for $1,585,000 Daniel Ravenel Sotheby’s International Realty

Listings Around the World in this Price Range

Marlborough, New Zealand 6BR/5B 4,402 SqFt $4,726,127 New Zealand Sotheby’s International Realty

North Kingstown, Rhode Island 4BR/4.5B 4,563 SqFt $4,975,000 Mott & Chace Sotheby’s International Realty 38

Vaud, Switzerland 6BR/3.5B 3,660 SqFt $4,525,374 de Rham Sotheby’s International Realty

Marketing Charleston Worldwide

33 Broad Street Charleston, SC 29401 O: 843.723.7150 | F: 843.723.7494

Daniel Ravenel Sotheby’s International Realty 33 Broad Street Charleston, SC 29401 O: 843.723.7150 | F: 843.723.7494 www.DanielRavenelSIR.com

Each Office is Independently Owned and Operated