QUARTER 1 2018 CHARLESTON, SC MARKET UPDATE
West Ashley, James Island, Folly Beach, Johns Island, Kiawah Island Seabrook Island, Mount Pleasant, Sullivan’s Island, Isle of Palms Wild Dunes, Daniel Island, North Charleston, Dewees Island Summerville, Downtown Charleston, Ansonborough, Cannonborough French Quarter, Harleston Village, Hampton Park, Wagener Terrace Radcliffeborough, South of Broad, Wraggsborough
Quarter 1 Market Update Section 1: Charleston Area
Featured Properties
109 Flyway Drive Offered at $11,500,000 2619 Bayonne Street Offered at $8,250,000 13 Johnson Road Offered at $4,695,000 71 Anson Street Offered at $5,500,000
JOHNS IS LAND AND WADMALAW IS LAND Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales A stunning contrast to more developed areas of Charleston, 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.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 123
2017 $169.57
2017 80
2017 $337,447
2018 201
2018 $163.43
2018 60
2018 $355,548
OUR FIRM’S JOHNS ISLAND & WADMALAW LISTINGS
3940 Chisolm Road $2,950,000 3 Martins Point Road $1,195,000 4996 Maybank Hwy $799,000 2632 Colonel Harrison Drive $448,000
JAMES IS LAND AND FOLLY BEACH Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales A well established community, James Island is located 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.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 272
2017 $203.84
2017 65
2017 $370,082
2018 260
2018 $210.25
2018 53
2018 $373,908
OUR FIRM’S JAMES ISLAND AND FOLLY BEACH LISTINGS
672 Ellis Oak Drive $3,395,000 114 W Ashley Avenue B301 $755,000 2142 Golfview Drive $600,000 624 Harbor Creek Place 12 $449,000 1025 Riverland Woods Place 702 $248,000
WEST ASHLEY (INSIDE I-526) Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales West Ashley is located across the Ashley River, directly west of Downtown Charleston, and it is one of the earliest suburbs 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.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 124
2017 $185.76
2017 49
2017 $306,326
2018 123
2018 $192.77
2018 43
2018 $341,339
OUR FIRM’S WEST ASHLEY (INSIDE 1-526) LISTINGS
13 Johnson Road $4,695,000 8 Johnson Road
(Under Contract) $1,895,000
1505 Hurtes Island Drive $1,195,000 55 Shrewsbury Road $624,995
WEST ASHLEY (OUTSIDE I-526) Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 249
2017 $134.67
2017 44
2017 $256,013
2018 268
2018 $144.82
2018 49
2018 $279,761
OUR FIRM’S WEST ASHLEY (OUTSIDE 1-526) LISTINGS
1635 Bull Creek Lane $1,225,000 2108 Rookery Lane $634,000 2221 Egret Crest Lane $159,900
RURAL WEST ASHLEY Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 41
2017 $141.03
2017 101
2017 $356,791
2018 32
2018 $168.14
2018 118
2018 $429,204
OUR FIRM’S RURAL WEST ASHLEY LISTINGS
5031 Old York Course
(Under Contract) $1,695,000
NORTH CHARLESTON (INSIDE I-526) Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales North Charleston is an economic center of South Carolina, and houses some major players such as Boeing, Bosch and the Military complex including the Air Force Base. North Charleston is home to the newly renovated Charleston International Airport, the North Charleston Colliseum, which attracts major performers, and the Tanger Outlet shopping mall. With a flurry of economic activity, North Charleston offers affordable housing options throughout its large reach across the upper Peninsular area. With the intersection of the I-526 beltway and I-26, North Charleston enjoys easy access to all areas of Greater Charleston.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 80
2017 $140.01
2017 60
2017 $213,619
2018 91
2018 $145.64
2018 38
2018 $223,417
NORTH CHARLESTON/SUMMERVILLE (OUTSIDE I-526) Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 234
2017 $104.35
2017 40
2017 $172,680
2018 159
2018 $112.45
2018 43
2018 $170,267
OUR FIRM’S NORTH CHARLESTON/SUMMERVILLE LISTINGS 4628 Sunny Lane
(Under Contract) $275,000
KIAWAH IS LAND AND SEABROOK IS LAND Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales Kiawah Island is a privately owned beach and golf resort located on a barrier island 15 miles south of Charleston, South Carolina. The island is lined with 10 miles of pristine beaches and approximately 10,000 acres of natural woodlands. Seabrook Island, wholly owned by its residents, is also a gated island which offers lush maritime forests, a top rate tennis facility, two championship golf courses and a full service equestrian center. Seabrook also offers one of the widest beaches on the East Coast. *sales comparisons do not include properties listed and sold by Kiawah Island Real Estate, a non-MLS company
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 55
2017 $322.90
2017 273
2017 $714,705
2018 47
2018 $243.51
2018 236
2018 $557,213
OUR FIRM’S KIAWAH ISLAND AND SEABROOK ISLAND LISTINGS 109 Flyway Drive
$11,500,000
212 Ocean Marsh
$3,925,000
121 Halona Lane
$3,195,000
125 Halona Lane
$3,095,000
565 Bufflehead Drive
$2,495,000
119 Halona Lane
$2,295,000
123 Halona Lane
$1,950,000
5511 Cypress Cottage Lane
$1,775,000
1328 Pelican Watch
$345,000
1357 Pelican Watch
$305,900
4260 Mariners Watch
$268,000
1701 Live Oak Park
$175,000
174 High Hammock Road
(Under Contract) $127,500
SULLIVANS ISLAND Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales Just past the fabulous shopping and dining in Mount Pleasant sits 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.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 12
2017 $572.45
2017 146
2017 $1,842,750
2018 13
2018 $701.08
2018 141
2018 $2,107,904
OUR FIRM’S SULLIVANS ISLAND LISTINGS
2619 Bayonne Street $8,250,000 2102 Atlantic Avenue $2,950,000 1301 Cove Avenue $2,350,000
MT. PLEASANT (SOUTH OF ISLE OF PALMS CONNECTOR) Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales 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 Arthur 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. Mt. Pleasant is one of the fastest growing suburbs in the entire country.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 281
2017 $251.15
2017 71
2017 $499,955
2018 256
2018 $259.18
2018 63
2018 $533,569
OUR FIRM’S MT. PLEASANT (SOUTH OF IOP CONNECTOR) LISTINGS
269 Indigo Bay Circle $1,095,000 1114 Spyglass Point $975,000 220 Ponsbury Road
(Under Contract) $795,000
337 N Civitas $735,000
MT. PLEASANT (NORTH OF ISLE OF PALMS CONNECTOR) Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 307
2017 $186.08
2017 84
2017 $439,051
2018 276
2018 $192.87
2018 82
2018 $490,567
OUR FIRM’S MT. PLEASANT (NORTH OF IOP CONNECTOR) LISTINGS
3618 Coastal Crab Road $1,399,000 2073 Shell Ring Circle $1,150,000
WILD DUNES AND IS LE OF PALMS Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales Originally known as “Long Island,” the Isle of Palms is one of Charleston’s premier beach communities. From smaller beach bungalows to luxury beach retreats well over a million dollars, the Isle of Palms has it all. Originally developed in the early 20th century as a beachfront with one hotel, and built up in the mid 20th Century, the Isle of Palms has blossomed into a full resort destination. Wild Dunes is a renowned community situated at the north end of the island and offers its residents innumerable amenities including tennis, clubhouses, and several world renowned golf courses right on the Intracoastal Waterway.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 82
2017 $413.36
2017 162
2017 $782,566
2018 87
2018 $456.22
2018 153
2018 $985,034
OUR FIRM’S WILD DUNES AND ISLE OF PALMS LISTINGS
2602 Palm Boulevard
(Under Contract) $4,500,000
11 Morgan Place Drive $1,475,000 3 39th Avenue $682,000 103 D Port O Call Drive $415,000
DEWEES ISLAND Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales Dewees Island is a secluded barrier island tucked away off the Intracoastal Waterway just north of the Isle of Palms. This private residential community is dedicated to preserving natural resources, and was founded on deep respect and harmony with nature. Dewees Island is a private island paradise that is only accessible to property owners, their guests, and potential buyers. This community was designed to preserve the island’s natural state, so many of the homes are almost imperceptible behind the trees when viewed from the inlet. Even when Dewees Island is fully developed, over 95% of the island will remain in its natural state. Only 150 homes sites will ever be available, and only a handful remain.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 3
2017 $344.51
2017 454
2017 $1,178,333
2018 0
2018 $0
2018 0
2018 $0
OUR FIRM’S DEWEES ISLAND LISTINGS
171 Dewees Inlet Drive $2,495,000
DANIEL IS LAND Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales Daniel Island is located to the northwest of Mount Pleasant, and is accessed via 526. Separated from Mount Pleasant by the Wando River, Daniel Island is one of the newest areas of Charleston. A fully self contained area of Charleston, Daniel Island is home to shops, restaurants, and sports complexes such as the MUSC Health Stadium where the Charleston Battery Soccer Team plays and the Family Circle Tennis Stadium, where the Volvo Car Open is held. Daniel Island is bustling with economic growth and increasing home sales.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 59
2017 $253.12
2017 59
2017 $700,831
2018 81
2018 $251.80
2018 134
2018 $713,303
WANDO AND CAINHOY Greater Charleston Area | Q1 2017 vs Q1 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 52
2017 $163.51
2017 51
2017 $344,930
2018 52
2018 $160.37
2018 46
2018 $329,033
OUR FIRM’S WANDO AND CAINHOY LISTINGS 1200 Palm Cove Drive $259,000
Quarter 1 Market Update Section 2: Downtown Charleston
DOWNTOWN CHARLESTON (INSIDE CROSSTOWN) Downtown Charleston Neighborhoods | Q1 2017 vs Q1 2018 | Single Family Home Sales Located on the 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 crepe myrtles and oaks lead to winding alleys full of colorful architecture and historical significance. The famous mansions and gardens hide behind walls and iron gates, and magnificent historical churches and landmarks attract visitors from all over the world.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 112
2017 $453.49
2017 109
2017 $933,866
2018 106
2018 $461.96
2018 113
2018 $939,673
DOWNTOWN CHARLESTON (OUTSIDE CROSSTOWN) Downtown Charleston Neighborhoods | Q1 2017 vs Q1 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 45
2017 $283.15
2017 81
2017 $459,775
2018 54
2018 $298.13
2018 61
2018 $467,473
OUR FIRM’S DOWNTOWN CHARLESTON LISTINGS
71 Anson Street $5,500,000 39 Society Street (Under Contract) $2,300,000 61 Barre Street A $1,995,000 176/178 Broad Street $1,995,000 68 King Street (Under Contract) $1,952,500 166 Wentworth Street $1,950,000 12 Tradd Street $1,750,000 59 Barre Street B (Under Contract) $1,605,000 165 Tradd Street $1,350,000 12 Ashley Avenue $949,500 109 E Bay Street 1-B $895,000 33 Calhoun Street 141 $755,000 180 Broad Street C $735,000 77 Bull Street $675,000 55 Ashley Avenue #16 $524,000 81 Bull Street $495,000 79 Bull Street $475,000 173 Rutledge Avenue S $429,000
SOUTH OF BROAD Downtown Charleston Neighborhoods | Q1 2017 vs Q1 2018 | Single Family Home Sales 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.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 22
2017 $576.19
2017 150
2017 $1,831,845
2018 30
2018 $604.06
2018 147
2018 $1,693,514
HARLESTON VILLAGE Downtown Charleston Neighborhoods | Q1 2017 vs Q1 2018 | Single Family Home Sales 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 husband’s 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.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 19
2017 $415.19
2017 158
2017 $870,474
2018 19
2018 $461.88
2018 102
2018 $757,986
FRENCH QUARTER Downtown Charleston Neighborhoods | Q1 2017 vs Q1 2018 | Single Family Home Sales 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 pre-Revolutionary buildings.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 7
2017 $739.21
2017 126
2017 $1,108,000
2018 4
2018 $562.15
2018 81
2018 $1,115,750
ANSONBOROUGH Downtown Charleston Neighborhoods | Q1 2017 vs Q1 2018 | Single Family Home Sales 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.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 7
2017 $436.06
2017 99
2017 $933,071
2018 6
2018 $532.33
2018 60
2018 $906,833
RADCLIFFEBOROUGH Downtown Charleston Neighborhoods | Q1 2017 vs Q1 2018 | Single Family Home Sales 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. This area of Charleston is experiencing a large construction and development surge with many new hotels opening and under construction. In addition to hotels, condo buildings are being built here at a rapid rate, increasing the number of rooms available on the Peninsula and demanding top dollar rents for the new construction residences.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 13
2017 $416.23
2017 35
2017 $696,908
2018 11
2018 $375.14
2018 149
2018 $694,148
CANNONBOROUGH - ELLIOTTBOROUGH Downtown Charleston Neighborhoods | Q1 2017 vs Q1 2018 | Single Family Home Sales 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.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 6
2017 $370.79
2017 66
2017 $577,750
2018 8
2018 $367.40
2018 83
2018 $505,125
WAGENER TERRACE AND HAMPTON PARK Downtown Charleston Neighborhoods | Q1 2017 vs Q1 2018 | Single Family Home Sales Wagener Terrace is a suburban area located on the upper Charleston peninsula, with numerous well located, moderately priced homes. Many young families are calling Wagener Terrace home due to the proximity to highways, downtown Charleston, and easy access to West Ashley, Mt. Pleasant, and North Charleston. Within the same footprint is Hampton Park which gains its name from the large green space in its center which was a world fair site in 1900.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 8
2017 $270.60
2017 64
2017 $497,925
2018 16
2018 $308.76
2018 47
2018 $518,409
MAZYCK-WRAGGBOROUGH Downtown Charleston Neighborhoods | Q1 2017 vs Q1 2018 | Single Family Home Sales 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.
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 3
2017 $307.67
2017 152
2017 $911,667
2018 0
2018 $0
2018 0
2018 $0
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