QUARTER 2 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 2 Market Update Section 1: Charleston Area
Featured Properties
2619 Bayonne Street Offered at $8,250,000 9 Tradd Street Offered at $7,280,000 3318 Jasper Street Offered at $5,350,000 9 Limehouse Street Offered at $5,200,000
JOHNS IS LAND AND WADMALAW IS LAND Greater Charleston Area | Q2 2017 vs Q2 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 208
2017 $165.83
2017 65
2017 $338,902
2018 254
2018 $163.83
2018 86
2018 $363,187
OUR FIRM’S JOHNS ISLAND & WADMALAW LISTINGS
0 River Road $1,995,000 3 Martins Point Road $1,195,000 4996 Maybank Hwy $799,000 2616 Bohicket Road
(Under Contract) $625,000
2632 Colonel Harrison Drive $448,000 1289 Martins Point Road $395,000 1604 Bernier Commons
(Under Contract) $125,000
JAMES IS LAND AND FOLLY BEACH Greater Charleston Area | Q2 2017 vs Q2 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 353
2017 $222.66
2017 60
2017 $396,575
2018 318
2018 $227.03
2018 50
2018 $418,062
OUR FIRM’S JAMES ISLAND AND FOLLY BEACH LISTINGS
672 Ellis Oak Drive $3,395,000 114 W Ashley Avenue B301 $755,000 1025 Riverland Woods Place 702
(Under Contract) $242,000
WEST ASHLEY (INSIDE I-526) Greater Charleston Area | Q2 2017 vs Q2 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 218
2017 $187.47
2017 43
2017 $316,986
2018 219
2018 $202.77
2018 56
2018 $370,425
OUR FIRM’S WEST ASHLEY (INSIDE 1-526) LISTINGS
13 Johnson Road $4,695,000 1505 Hurtes Island Drive $1,195,000 55 Shrewsbury Road $599,000
WEST ASHLEY (OUTSIDE I-526) Greater Charleston Area | Q2 2017 vs Q2 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 369
2017 $141.36
2017 40
2017 $269,965
2018 368
2018 $147.11
2018 42
2018 $288,794
OUR FIRM’S WEST ASHLEY (OUTSIDE 1-526) LISTINGS
1635 Bull Creek Lane $1,175,000
RURAL WEST ASHLEY Greater Charleston Area | Q2 2017 vs Q2 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 49
2017 $136.45
2017 102
2017 $304,342
2018 52
2018 $149.85
2018 123
2018 $356,807
OUR FIRM’S RURAL WEST ASHLEY LISTINGS
5720 Captain Kidd Road
$423,890
NORTH CHARLESTON (INSIDE I-526) Greater Charleston Area | Q2 2017 vs Q2 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 135
2017 $129.73
2017 52
2017 $199,392
2018 119
2018 $155.52
2018 44
2018 $251,000
NORTH CHARLESTON/SUMMERVILLE (OUTSIDE I-526) Greater Charleston Area | Q2 2017 vs Q2 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 292
2017 $106.27
2017 51
2017 $170,069
2018 260
2018 $111.11
2018 31
2018 $170,798
OUR FIRM’S NORTH CHARLESTON/SUMMERVILLE LISTINGS 8049 Kittery Avenue
$264,900
KIAWAH IS LAND AND SEABROOK IS LAND Greater Charleston Area | Q2 2017 vs Q2 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 86
2017 $580.00
2017 249
2017 $622,553
2018 107
2018 $316.03
2018 209
2018 $810,119
OUR FIRM’S KIAWAH ISLAND AND SEABROOK ISLAND LISTINGS
212 Ocean Marsh 121 Halona Lane 131 Halona Lane 125 Halona Lane 565 Bufflehead Drive 119 Halona Lane 123 Halona Lane 5511 Cypress Cottage Lane 1328 Pelican Watch 1357 Pelican Watch 1701 Live Oak Park 1637 Live Oak Park (Under Contract)
$3,595,000 $3,195,000 $3,095,000 $3,095,000 $2,395,000 $2,295,000 $1,950,000 $1,775,000 $345,000 $305,900 $170,000 $165,000
SULLIVANS ISLAND Greater Charleston Area | Q2 2017 vs Q2 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 21
2017 $647.84
2017 123
2017 $2,041,214
2018 24
2018 $680.54
2018 83
2018 $1,998,731
OUR FIRM’S SULLIVANS ISLAND LISTINGS
2619 Bayonne Street $8,250,000 3318 Jasper Boulevard $5,350,000 2102 Atlantic Avenue $2,950,000 1301 Cove Avenue $2,275,000
MT. PLEASANT (SOUTH OF ISLE OF PALMS CONNECTOR) Greater Charleston Area | Q2 2017 vs Q2 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 408
2017 $269.99
2017 74
2017 $555,982
2018 385
2018 $268.89
2018 56
2018 $598,537
OUR FIRM’S MT. PLEASANT (SOUTH OF IOP CONNECTOR) LISTINGS
269 Indigo Bay Circle $974,000 734 Milldenhall Road $799,000 747 Bradburn Drive $459,000 612 Speights Street (Under Contract) $580,000
MT. PLEASANT (NORTH OF ISLE OF PALMS CONNECTOR) Greater Charleston Area | Q2 2017 vs Q2 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 427
2017 $192.82
2017 93
2017 $487,098
2018 390
2018 $194.76
2018 92
2018 $495,348
OUR FIRM’S MT. PLEASANT (NORTH OF IOP CONNECTOR) LISTINGS
3618 Coastal Crab Road $1,399,000 2073 Shell Ring Circle $1,124,999
WILD DUNES AND IS LE OF PALMS Greater Charleston Area | Q2 2017 vs Q2 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 92
2017 $403.07
2017 172
2017 $973,058
2018 86
2018 $448.84
2018 145
2018 $981,158
OUR FIRM’S WILD DUNES AND ISLE OF PALMS LISTINGS
8 55th Avenue $2,495,000 11 Morgan Place Drive $1,395,000 3 39th Avenue $682,000 103 D Port O Call Drive $415,000
DEWEES ISLAND Greater Charleston Area | Q2 2017 vs Q2 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 1
2017 $475.83
2017 692
2017 $1,900,000
2018 1
2018 $301.40
2018 586
2018 $950,000
DANIEL IS LAND Greater Charleston Area | Q2 2017 vs Q2 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 106
2017 $251.74
2017 70
2017 $655,892
2018 109
2018 $261.81
2018 103
2018 $761,851
WANDO AND CAINHOY Greater Charleston Area | Q2 2017 vs Q2 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 66
2017 $617.32
2017 59
2017 $326,036
2018 76
2018 $179.51
2018 76
2018 $419,135
Quarter 2 Market Update Section 2: Downtown Charleston
DOWNTOWN CHARLESTON (INSIDE CROSSTOWN) Downtown Charleston Neighborhoods | Q2 2017 vs Q2 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 141
2017 $473.70
2017 152
2017 $1,038,020
2018 134
2018 $466.40
2018 160
2018 $970,719
DOWNTOWN CHARLESTON (OUTSIDE CROSSTOWN) Downtown Charleston Neighborhoods | Q2 2017 vs Q2 2018 | Single Family Home Sales
NUMBER OF SALES
AVERAGE SOLD PRICE PER SQUARE FOOT
AVERAGE DAYS ON MARKET
AVERAGE SALES PRICE
2017 51
2017 $300.21
2017 53
2017 $429,735
2018 59
2018 $315.57
2018 58
2018 $550,059
OUR FIRM’S DOWNTOWN CHARLESTON LISTINGS
9 Tradd Street $7,280,000 9 Limehouse Street $5,200,000 166 Wentworth Street (Under Contract) $1,950,000 16 King Street (Under Contract) $1,950,000 31 State Street $1,400,000 66 Anson Street (Under Contract) $1,395,000 165 Tradd Street $1,350,000 12 Tradd Street $1,550,000 9 Elizabeth Street $1,375,000 109 East Bay Street 1-B $895,000 12 Ashley Avenue $875,000 180 Broad Street $699,000 5 Talon Court $675,000 77 Bull Street $575,000 55 Ashley Avenue #16 $475,000 81 Bull Street $475,000 79 Bull Street $450,000 173 Rutledge Avenue S $414,000
SOUTH OF BROAD Downtown Charleston Neighborhoods | Q2 2017 vs Q2 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 38
2017 $634.25
2017 169
2017 $1,813,099
2018 29
2018 $629.48
2018 174
2018 $1,936,500
HARLESTON VILLAGE Downtown Charleston Neighborhoods | Q2 2017 vs Q2 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 21
2017 $401.74
2017 127
2017 $995,881
2018 26
2018 $455.10
2018 175
2018 $919,387
FRENCH QUARTER Downtown Charleston Neighborhoods | Q2 2017 vs Q2 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 6
2017 $750.86
2017 357
2017 $898,937
2018 8
2018 $688.62
2018 259
2018 $849,469
ANSONBOROUGH Downtown Charleston Neighborhoods | Q2 2017 vs Q2 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 10
2017 $542.15
2017 250
2017 $1,402,100
2018 10
2018 $556.18
2018 202
2018 $1,222,200
RADCLIFFEBOROUGH Downtown Charleston Neighborhoods | Q2 2017 vs Q2 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 14
2017 $377.96
2017 56
2017 $694,148
2018 7
2018 $415.99
2018 141
2018 $783,771
CANNONBOROUGH - ELLIOTTBOROUGH Downtown Charleston Neighborhoods | Q2 2017 vs Q2 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 18
2017 $357.07
2017 83
2017 $511,717
2018 15
2018 $340.23
2018 74
2018 $537,950
WAGENER TERRACE AND HAMPTON PARK Downtown Charleston Neighborhoods | Q2 2017 vs Q2 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 17
2017 $318.06
2017 39
2017 $529,456
2018 23
2018 $314.42
2018 43
2018 $564,514
MAZYCK-WRAGGBOROUGH Downtown Charleston Neighborhoods | Q2 2017 vs Q2 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 5
2017 $348.44
2017 75
2017 $720,500
2018 6
2018 $383.38
2018 119
2018 $746,683
33 Broad Street, Charleston SC 29401 | 843.723.7150 | DanielRavenelSIR.com | Open 7 Days A Week