QUARTER 3, 2016 REAL ESTATE REPORT
THE MARKET IN THE CHARLESTON AREA
Johns Island & Wadmalaw Market Facts
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 Days On Market
187
200
70
148 150
50
100 Q3 2015
Q3 2015
$250
$319,820
$320,000
Q3 2016
Sold Price Per SqFt
$344,218
$340,000
38
30
Q3 2016
Average Sale Price $360,000
58
$150 $154
$150
$300,000
$50 Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $400,000
$368,739 $354,979 $344,218
$300,000
$325,682 $324,302 $319,820
Original List Price Final List Price Sold Price
$200,000 Q3 2015 Q3 2016
featured property |
johns island 3031 Maritime Forest Drive
$695,000
selling the extraordinary 5
For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
James Island & Folly Beach Market Facts
A well established community, James Island is an 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.
Number of Sales 300
289
Average Days On Market 55
286
51 49
50 250 Q3 2015
45
Q3 2016
Q3 2015
Average Sale Price $400,000
Sold Price Per SqFt $300
$ 336,638 $311,844
$300,000
$250
$200,000
$200
$100,000
$150 Q3 2015
Q3 2016
Q3 2016
$199 $200
Q3 2015
Q3 2016
List Prices versus Sold Prices $370,000 $350,000 $330,000 $310,000
$329,184 $321,470 $311,844
$353,967 $345,457 $336,638
Original List Price Final List Price Sold Price
$290,000 $270,000 $250,000 Q3 2015 Q3 2016
brand news
“Houseguest” is the new custom video series presented by the Sotheby’s International Realty® brand. This series follows influential and inspirational people as they become a houseguest in a home represented by the Sotheby’s International Realty brand and meld their life with the unique lifestyle found with their extraordinary accommodations.
EPISODE 1: Kevin Red Star
As one of the most acclaimed artists of our time, Kevin Red Star, is a Native American Painter of American Indian Culture. Born and raised on the Crow Indian Nation in Lodge Grass, Montana, Kevin Red Star finds inspiration in his family, heritage and abundance of visual experience to compose a signature style and palette. In the first episode of Sotheby’s International Realty | Houseguest, Kevin Red Star visits a stunning home in Weehawken, New Jersey with almost touchable views of the New York City skyline. Watch how Kevin Red Star is inspired by his new and very different surroundings to create his latest masterpiece. WATCH NOW!
EPISODE 2: Underwater Photographer Duo Dives into Turks & Caicos
As an underwater photography team, Alicia and Jim Ward thrive cooperatively to capture beautiful images of the world’s oceans. Together they embrace challenging conditions to continuously push their creative capabilities to showcase the enchanting life beneath the surface. In this episode of Houseguest, Alicia and Jim visit Turtle Tail, a spectacular tropical compound in Turks & Caicos located on a private peninsula. Watch how this couple discovers the dynamic fusion of home and nature found at this breathtaking estate. selling the extraordinary WATCH NOW! 5
West Ashley (inside 526) Market Facts
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 Days On Market
144
177
150
50
40
50 Q3 2015
20
Q3 2016
Q3 2015
Average Sale Price $300,000
55
60
250
Sold Price Per SqFt
$285,058 $260,294
$250
$250,000 $200,000
$150
$150,000
$50 Q3 2015
Q3 2016
Q3 2016
$157 $172
Q3 2015
Q3 2016
List Prices versus Sold Prices $310,000
$300,901
$300,000
$292,912
$290,000 $280,000 $270,000 $260,000
$273,949 $266,950 $260,294
$285,058
Original List Price Final List Price Sold Price
$250,000 Q3 2015 Q3 2016
featured properties |
13 Johnson Road Dan Ravenel
1505 Hurtes Island Drive Dan Ravenel & Daniel Ravenel, Jr.
west ashley
$5,900,000 5B 6.5b 8,260 SqFt
$1,395,000 4B 6.5+b 4,869 SqFt
selling the extraordinary 5 For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
Charleston Peninsula (Below Crosstown) Market Facts
Located 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 architectyre 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 124
150 83
100
Average Days On Market 104 100
50 0 Q3 2015
0
Q3 2016
Average Sale Price
Q3 2015
Q3 2016
Sold Price Per SqFt $500
$900,000 $800,000
177
200
$797,584 $ 793,486
$700,000
$370
$400
$407
$300 Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $1,000,000 $912,199 $900,000 $800,000
Original List Price
$862,873 $797,584
$838,075 $823,867 $793,486
$700,000 Q3 2015 Q3 2016
Final List Price Sold Price
featured property| downtown charleston 3 King Street
$1,150,000
selling the extraordinary 5 For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
Kiawah Island & Seabrook Island
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.
Number of Sales 100
65
Average Days On Market 250
300 55
178
200
50
100 0 Q3 2015
0
Q3 2016
Q3 2015
Average Sale Price $612,500
Q3 2016
Sold Price Per SqFt
$607,871 $604,328
$288
$300
$603,750
$282
$250
$595,000
$200 Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $1,000,000 $800,000 $600,000
$841,633 $641,760 $604,328
$681,366 $653,235 $607,871
Original List Price Final List Price Sold Price
$400,000 $200,000 Q3 2015 Q3 2016
featured properties | kiawah & seabrook
141 Halona Lane
$2,450,000
3147 Marshgate Drive
$6,500,000
1161 Oyster Catcher Drive
$4,000,000
2731 Jenkins Point Road
$3,999,999
selling the extraordinary
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. Mt. Pleasant is one of the fastest growing suburbs in the country.
Number of Sales 356
400
Average Days On Market
381
56
60
45
300 40
200 100 Q3 2015
20
Q3 2016
Q3 2015
Average Sale Price $600,000
Q3 2016
Sold Price Per SqFt
$544,017 $496,541
$300
$223
$250 $400,000
$264
$200 $150
$200,000
$100 Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $600,000 $550,000
$574,117 $560,215 $525,219 $514,851
$544,017
$496,541
$500,000
Original List Price Final List Price Sold Price
$450,000 Q3 2015 Q3 2016
focus on: neighborhood videos The Crescent
Sullivan’s Island
selling the extraordinary 5 For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
Sullivans Island Market Facts
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 20 20
Average Days On Market 200
19
18
18
111 100
17 Q3 2015
$2,000,000 $1,500,000
0
Q3 2016
Average Sale Price $1,664,318 $1,487,837
153
Q3 2015
Q3 2016
Sold Price Per SqFt $544
$600
$526
$500 $400
$1,000,000
$300 Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $2,250,000 $1,750,000
$2,176,020 $1,790,713 $1,664,318
$1,699,000 $1,623,772 $1,487,837
$1,250,000
Original List Price Final List Price Sold Price
$750,000 Q3 2015 Q3 2016
featured property | sullivan’s island
1311 Cove Avenue
$2,599,000
selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
Wild Dunes & Isle of Palms Market Facts
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 Days On Market
57
60
200
131
50 50
100
40 Q3 2015
0
Q3 2016
Q3 2015
Average Sale Price $1,250,000
161
Sold Price Per SqFt $400
$400
$958,129 $757,258
$750,000
$350
$250,000
$300 Q3 2015
Q3 2016
Q3 2016
$343
Q3 2015
Q3 2016
List Prices versus Sold Prices $1,100,000 $1,000,000 $900,000 $800,000
$872,080
$1,037,359 $1,002,996 $958,129
$800,230 $757,258
Original List Price Final List Price Sold Price
$700,000 $600,000 $500,000 Q3 2015 Q3 2016
international exposure | wall street journal 2608 Ion Avenue
$2,187,500
Click to read more!
selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
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.
Number of Sales
Average Days On Market
20
20
441 200
12
111
10
100
0 Q3 2015
Average Sale Price $2,250,000
0
Q3 2016
$2,117,917
$1,456,492
$1,750,000
Q3 2015
Q3 2016
Sold Price Per SqFt $600
$527
$515
$500
$1,250,000 $750,000
$400 Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $3,000,000 $2,500,000
$2,641,250 $2,403,125
Original List Price
$2,117,917
Final List Price
$2,000,000 $1,558,550 $1,520,810 $1,456,492
$1,500,000 $1,000,000 Q3 2015
Q3 2016
Sold Price
brand news
The Sotheby’s International Realty® brand continues to expand globally, adding new distribution opportunities to showcase properties to affluent consumers in key growth markets. Now we are expanding our presence in China! Every qualified listing that is uploaded onto the Sotheby’s International Realty brand distribution platform is now also promoted on Juwai.com, one of the world’s most prominent real estate websites with over 2 million monthly visitors. Adding Juwai.com as a syndication partner further solidifies the Sotheby’s International Realty brand reach in China: At this moment, one out of every 10 visitors on sothebysrealty.com is located in China. EXCLUSIVE APPLE NEWS PARTNERSHIP
selling the extraordinary 5 For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
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.
Number of Sales 30
20
26
Average Days On Market 168
200
20
110 100
10 0 Q3 2015
Average Sale Price $1,250,000
0
Q3 2016
$997,583 $739,301
Q3 2015
Sold Price Per SqFt $500
$750,000
$400
$250,000
$300 Q3 2015
Q3 2016
Q3 2016
$433 $363
Q3 2015
Q3 2016
List Prices versus Sold Prices $1,200,000 $1,000,000 $800,000
$786,620 $771,015 $739,301
$1,048,381 $1,034,785 $997,583
Original List Price Final List Price Sold Price
$600,000 $400,000 Q3 2015 Q3 2016
local exposure | post & courier 272 Cedar Hall Road
$1,500,000
Click to read more!
selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
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 pre-Revolutionary buildings.
Number of Sales
Average Days On Market
6
6
363 200
5
5
3 Q3 2015
Q3 2016
Average Sale Price $1,100,000 $900,000
176
180
4
$979,417 $705,288
$700,000 $500,000
160 Q3 2015
Q3 2016
Sold Price Per SqFt $700
$619 $508
$500 $300
Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $1,150,000 $950,000 $750,000
$892,500
$1,028,667 $1,020,483 $979,417
$743,200 $705,288
Original List Price Final List Price Sold Price
$550,000 $350,000 Q3 2015 Q3 2016
Sotheby’s news | the latest from the auction house
Chinese Emperor’s Seal Leads $281 Million Sotheby’s Asia Auction
Sotheby’s sold HK$2.18 billion ($281 million) worth of Asian Art, watches, jewelry and wine at a five-day sale that ended in Hong Kong on Wednesday evening. The results were below the HK$2.7 billion the New York-based auction house sold a year ago at its Hong Kong autumn sales, and the HK$3.1 billion spent at Hong Kong’s other twice-yearly sale in April. “Sotheby’s Hong Kong sales demonstrated East Asia’s resistance to uncertainty and softness in some Western markets,” Sotheby’s Chief Executive Officer Tad Smith said in a statement. The top lot was an 18th century jade seal belonging to Chinese emperor Qianlong that sold to an anonymous Asian buyer for HK$91.5 million, exceeding its low estimate of HK$80 million.
Bloomberg.com
selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
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.
Number of Sales 5
410 200
4 3
2
1 Q3 2015
Q3 2016
Average Sale Price $1,375,000
$826,100
$1,000,000
175
180
2
$1,500,000
Average Days On Market
5
$500,000
160 Q3 2015
Q3 2016
Sold Price Per SqFt $500
$436
$462
$400 $300
Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $1,700,000 $1,500,000
$1,412,500 $ 1,512,000 $1,375,000
Original List Price
$1,300,000 $1,100,000
$926,600 $908,600 $826,100
$900,000 $700,000 $500,000 Q3 2015
Q3 2016
Final List Price Sold Price
featured property | ansonborough 71 Anson Street
$5,500,000
selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
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.
Number of Sales 20
16
Average Days On Market 200
137
15
101
8
10
100
5 Q3 2015
Average Sale Price $700,000 $600,000
0
Q3 2016
$615,875 $591,594
Q3 2015
Sold Price Per SqFt $400
$353 $293
$300
$500,000 $400,000
Q3 2016
$200 Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $680,000
$662,813 $645,438
$640,000
$615,875
$600,000
$618,259 $608,544 $591,594
$560,000 $520,000 Q3 2015 Q3 2016
Original List Price Final List Price Sold Price
featured development: indigo park, kiawah island
selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
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.
Number of Sales
Average Days On Market
20
15
40 26
10 10 5 Q3 2015
0
Q3 2016
Average Sale Price $473,595
$500,000 $400,000
14
20
Q3 2015
Q3 2016
Sold Price Per SqFt $400
$312
$307
$300
$387,200
$200 $100
$300,000
$-‐ Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $489,245 $486,495 $473,595
$500,000 $450,000 $400,000
Original List Price Final List Price
$397,600 $396,100
Sold Price
$387,200
$350,000 Q3 2015 Q3 2016
local exposure | post & courier
Click to read more!
selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
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.
Number of Sales
Average Days On Market
25
40 20
20
20 20
15 Q3 2015
0
Q3 2016
Q3 2015
Average Sale Price $550,000 $450,000
38
30
Q3 2016
Sold Price Per SqFt $300
$460,868 $402,925
$242
$261
$350,000 $250,000
$200 Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $489,085
$500,000
$475,840 $450,000 $400,000
$460,868
$424,490
Original List Price Final List Price
$409,675 $402,925
Sold Price
$350,000 Q3 2015 Q3 2016
global exposure | new york times
EXCLUSIVE VIDEO BLOCK
The Sotheby’s International Realty brand continues to run the Exclusive Video Block on the New York Times “Find a Home” landing page. As the exclusive “Find a Home” launch partner, the Sotheby’s International Realty brand owns the native video module, which is served on the #1 and #2 editorial slots in this section. No other brand has been able to utilize this custom video player found on the NYTimes.com homepage. The New York Times website has massive global reach, reaching over 80 million monthly visitors and a highly engaged audience who view over 482 million pages monthly. During September 2016, 71 Anson Street located in Ansonborough, Downtown Charleston, was featured in the Exclusive Video Block. In October 2016, 4257 Wild Turkey Way, the stunning home located at Briar’s Creek, was the featured content for the Lowcountry.
Click to view more!
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.
Number of Sales
200
3
4
Average Days On Market
2
1
0 Q3 2015
$600,000
$575,633
$400,000
$285,500
$200,000
62
0
Q3 2016
Average Sale Price
79
100
Q3 2015
Q3 2016
Sold Price Per SqFt $589
$600 $500
$365
$400 $300
$-‐
$200 Q3 2015
Q3 2016
Q3 2015
Q3 2016
List Prices versus Sold Prices $700,000 $600,000
$610,967 $602,633 $575,633
Original List Price
$500,000
Final List Price
$400,000 $299,000 $299,900 $285,500
$300,000 $200,000 Q3 2015
Q3 2016
Sold Price
quarter 3 signiďŹ cant sales 2608 Ion Avenue
$2,187,500
3561 Legareville Road
$1,820,000
76 Halsey Boulevard
$1,580,000
67 Bull Street
$1,310,000
126 Rutledge Avenue
$1,227,500
1577 E Ashley, listed by Highgarden
$1,217,000
selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com
Daniel Ravenel Sotheby’s International Realty 33 Broad Street Charleston, SC 29401 O: 843.723.7150 | F: 843.723.7494 www.DanielRavenelSIR.com