AUGUST 2020
R E AL E S TATE R E P O RT PRESENTED BY THE CASSINA GROUP
MARKET REPORTS In this report, you will find several charts broken down by geographic area which show monthly and year-to-date trends for specific locations; to provide a market analysis that illustrates real estate activity in Charleston. Information includes the number of new and closed listings, median and average sales price, percent of list price received, days on market until sale and more. If you are thinking of making a move or have questions about your home’s specific value, please don’t hesitate to reach out to your agent at The Cassina Group, 843.628.0008.
The Cassina Group: Our Story The Cassina Group was founded in 2006 with a vision of doing real estate differently. By balancing traditional real estate models with unique marketing and emerging technology, The Cassina Group has created a cutting edge and innovative company that serves as a leader in the Charleston market.
Our Philosophy Especially for today’s homebuyers and sellers, The Cassina Group is Charleston’s innovation-driven real estate firm, with a proven reputation for delivering stronger results through leading-edge technology and building lasting relationships. Our pioneering spirit generates a contagious energy enabling us to continually place new ideas into motion. Our strength lies on our people: knowledgeable, professional and committed. We are passionate about a great real estate event and promoting the well-being of our community.
Local Market Update – August 2020
Local Market Update – August 2020
A Research Tool Provided by the Charleston Trident Association of REALTORS®
A Research Tool Provided by the Charleston Trident Association of REALTORS®
Downtown Charleston
Upper Charleston Peninsula
Area 51
Area 52 August
Single-Family Detached
Year to Date
August
Single-Family Detached
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
29
37
+ 27.6%
322
326
+ 1.2%
New Listings
21
32
+ 52.4%
197
230
+ 16.8%
Closed Sales
17
23
+ 35.3%
125
139
+ 11.2%
Closed Sales
14
17
+ 21.4%
139
135
- 2.9%
Median Sales Price*
$946,700
$589,000
- 37.8%
$1,025,000
$765,000
- 25.4%
Median Sales Price*
$478,500
$450,000
- 6.0%
$450,000
$520,000
+ 15.6%
Average Sales Price*
$1,326,578
$875,765
- 34.0%
$1,404,380
$1,146,872
- 18.3%
Average Sales Price*
$484,470
$519,796
+ 7.3%
$479,682
$569,894
+ 18.8%
87.1%
94.4%
+ 8.4%
90.2%
90.1%
- 0.1%
Percent of Original List Price Received*
91.9%
95.8%
+ 4.2%
90.8%
92.9%
+ 2.3%
Days on Market Until Sale
78
94
+ 20.5%
89
114
+ 28.1%
Days on Market Until Sale
48
35
- 27.1%
66
57
- 13.6%
Inventory of Homes for Sale
214
214
0.0%
--
--
--
Inventory of Homes for Sale
84
85
+ 1.2%
--
--
--
Percent of Original List Price Received*
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Townhouse-Condo Attached
Townhouse-Condo Attached
August
Year to Date
August
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
22
30
+ 36.4%
299
293
- 2.0%
New Listings
4
7
+ 75.0%
26
29
+ 11.5%
Closed Sales
20
23
+ 15.0%
122
120
- 1.6%
Closed Sales
2
3
+ 50.0%
15
18
+ 20.0%
Median Sales Price*
$572,500
$513,000
- 10.4%
$595,000
$592,500
- 0.4%
Median Sales Price*
$285,000
$275,000
- 3.5%
$280,000
$289,000
+ 3.2%
Average Sales Price*
$741,075
$573,539
- 22.6%
$723,568
$820,665
+ 13.4%
Average Sales Price*
$285,000
$272,667
- 4.3%
$351,590
$386,306
+ 9.9%
89.2%
92.7%
+ 3.9%
91.9%
92.1%
+ 0.2%
Percent of Original List Price Received*
87.6%
97.1%
+ 10.8%
92.2%
94.9%
+ 2.9%
Days on Market Until Sale
95
128
+ 34.7%
91
126
+ 38.5%
Days on Market Until Sale
304
23
- 92.4%
103
75
- 27.2%
Inventory of Homes for Sale
189
180
- 4.8%
--
--
--
Inventory of Homes for Sale
13
14
+ 7.7%
--
--
--
Percent of Original List Price Received*
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Historical Median Sales Price Single-Family Detached $1,400,000
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Historical Median Sales Price
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Downtown Charleston —
$1,200,000
Single-Family Detached All MLS — Downtown Charleston —
$700,000
$600,000
$600,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —
$500,000
$500,000 $400,000
$1,000,000
$500,000 $400,000
$800,000 $400,000
$300,000
$600,000
$300,000 $300,000
$400,000
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
$200,000
$200,000
$200,000
$200,000 $0 1-2010
All MLS — Upper Charleston Peninsula —
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2020
Local Market Update – August 2020
A Research Tool Provided by the Charleston Trident Association of REALTORS®
A Research Tool Provided by the Charleston Trident Association of REALTORS®
Lower Mount Pleasant
Upper Mount Pleasant
Area 42
Area 41 August
Single-Family Detached
Year to Date
August
Single-Family Detached
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
95
94
- 1.1%
891
784
- 12.0%
New Listings
119
147
+ 23.5%
1,154
1,066
- 7.6%
Closed Sales
89
82
- 7.9%
585
602
+ 2.9%
Closed Sales
127
131
+ 3.1%
798
806
+ 1.0%
Median Sales Price*
$525,000
$653,125
+ 24.4%
$570,000
$600,000
+ 5.3%
Median Sales Price*
$538,000
$554,000
+ 3.0%
$514,520
$535,000
+ 4.0%
Average Sales Price*
$606,941
$791,633
+ 30.4%
$692,591
$719,606
+ 3.9%
Average Sales Price*
$604,460
$628,564
+ 4.0%
$570,006
$596,749
+ 4.7%
93.5%
96.5%
+ 3.2%
94.5%
95.5%
+ 1.1%
Percent of Original List Price Received*
96.2%
97.0%
+ 0.8%
96.5%
97.2%
+ 0.7%
Days on Market Until Sale
60
39
- 35.0%
61
57
- 6.6%
Days on Market Until Sale
79
50
- 36.7%
70
61
- 12.9%
Inventory of Homes for Sale
325
172
- 47.1%
--
--
--
Inventory of Homes for Sale
377
217
- 42.4%
--
--
--
Percent of Original List Price Received*
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Townhouse-Condo Attached
Townhouse-Condo Attached
August
Year to Date
August
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
30
31
+ 3.3%
299
348
+ 16.4%
New Listings
36
37
+ 2.8%
335
303
- 9.6%
Closed Sales
40
43
+ 7.5%
233
249
+ 6.9%
Closed Sales
43
48
+ 11.6%
244
229
- 6.1%
Median Sales Price*
$242,250
$255,000
+ 5.3%
$250,000
$245,500
- 1.8%
Median Sales Price*
$309,900
$319,500
+ 3.1%
$307,750
$310,000
+ 0.7%
Average Sales Price*
$355,164
$333,752
- 6.0%
$351,921
$302,872
- 13.9%
Average Sales Price*
$299,579
$317,889
+ 6.1%
$296,319
$308,173
+ 4.0%
100.1%
97.0%
- 3.1%
96.1%
96.2%
+ 0.1%
Percent of Original List Price Received*
96.1%
97.3%
+ 1.2%
96.4%
97.1%
+ 0.7%
Days on Market Until Sale
44
45
+ 2.3%
54
50
- 7.4%
Days on Market Until Sale
75
41
- 45.3%
61
57
- 6.6%
Inventory of Homes for Sale
98
63
- 35.7%
--
--
--
Inventory of Homes for Sale
108
44
- 59.3%
--
--
--
Percent of Original List Price Received*
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Historical Median Sales Price Single-Family Detached $700,000
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Historical Median Sales Price
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Lower Mount Pleasant —
Single-Family Detached All MLS — Lower Mount Pleasant —
$260,000
$600,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Upper Mount Pleasant —
All MLS — Upper Mount Pleasant —
$350,000
$240,000
$600,000
$500,000
$300,000
$400,000
$250,000
$300,000
$200,000
$200,000
$150,000
$220,000
$500,000
$200,000 $400,000 $180,000 $300,000 $160,000 $200,000
$100,000 1-2010
$140,000
1-2012
1-2014
1-2016
1-2018
1-2020
$120,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2020
Local Market Update – August 2020
A Research Tool Provided by the Charleston Trident Association of REALTORS®
A Research Tool Provided by the Charleston Trident Association of REALTORS®
Isle of Palms
Sullivan's Island
Areas 44 & 45
Area 43 August
Single-Family Detached
Year to Date
August
Single-Family Detached
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
24
39
+ 62.5%
233
211
- 9.4%
New Listings
5
3
- 40.0%
51
48
- 5.9%
Closed Sales
12
42
+ 250.0%
126
149
+ 18.3%
Closed Sales
3
4
+ 33.3%
33
30
- 9.1%
Median Sales Price*
$1,716,750
$1,287,500
- 25.0%
$1,078,750
$1,100,000
+ 2.0%
Median Sales Price*
$2,800,000
$1,692,500
- 39.6%
$2,000,000
$2,307,500
+ 15.4%
Average Sales Price*
$2,033,208
$1,439,962
- 29.2%
$1,421,768
$1,358,912
- 4.4%
Average Sales Price*
$2,873,333
$1,915,000
- 33.4%
$2,293,420
$2,383,083
+ 3.9%
89.8%
92.5%
+ 3.0%
91.8%
91.8%
0.0%
98.9%
87.7%
- 11.3%
88.6%
91.9%
+ 3.7%
Days on Market Until Sale
123
149
+ 21.1%
101
121
+ 19.8%
Days on Market Until Sale
16
143
+ 793.8%
99
80
- 19.2%
Inventory of Homes for Sale
160
57
- 64.4%
--
--
--
Inventory of Homes for Sale
29
16
- 44.8%
--
--
--
Percent of Original List Price Received*
Percent of Original List Price Received*
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Townhouse-Condo Attached
Townhouse-Condo Attached
August
Year to Date
August
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
14
13
- 7.1%
104
111
+ 6.7%
New Listings
0
0
--
2
3
+ 50.0%
Closed Sales
10
18
+ 80.0%
55
85
+ 54.5%
Closed Sales
0
0
--
3
3
0.0%
Median Sales Price*
$496,000
$569,000
+ 14.7%
$479,000
$585,000
+ 22.1%
Median Sales Price*
$0
$0
--
$1,735,000
$1,600,000
- 7.8%
Average Sales Price*
$557,560
$625,806
+ 12.2%
$528,274
$645,087
+ 22.1%
Average Sales Price*
$0
$0
--
$1,397,500
$1,264,077
- 9.5%
93.4%
93.7%
+ 0.3%
94.9%
93.7%
- 1.3%
Percent of Original List Price Received*
0.0%
0.0%
--
96.5%
89.5%
- 7.3%
Days on Market Until Sale
179
95
- 46.9%
102
104
+ 2.0%
Days on Market Until Sale
0
0
--
170
353
+ 107.6%
Inventory of Homes for Sale
77
55
- 28.6%
--
--
--
Inventory of Homes for Sale
2
1
- 50.0%
--
--
--
Percent of Original List Price Received*
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Historical Median Sales Price
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Historical Median Sales Price
Rolling 12-Month Calculation
Townhouse-Condo Attached
Single-Family Detached
All MLS — Isle of Palms —
$1,200,000
$700,000
$1,000,000
$600,000
$800,000
$500,000
Townhouse-Condo Attached
Single-Family Detached All MLS — Isle of Palms —
Rolling 12-Month Calculation All MLS — Sullivan's Island —
$2,500,000
All MLS — Sullivan's Island —
$4,000,000
$2,000,000 $3,000,000 $1,500,000
$600,000
$400,000
$2,000,000 $1,000,000
$400,000
$300,000
$200,000
$200,000
$0 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
$1,000,000
$500,000
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$0 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$0 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2020
Local Market Update – August 2020
A Research Tool Provided by the Charleston Trident Association of REALTORS®
A Research Tool Provided by the Charleston Trident Association of REALTORS®
James Island
West Ashley Area
Area 21
Areas 11 & 12 August
Single-Family Detached
Year to Date
August
Single-Family Detached
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
83
67
- 19.3%
736
600
- 18.5%
New Listings
162
149
- 8.0%
1,335
1,345
+ 0.7%
Closed Sales
65
62
- 4.6%
500
502
+ 0.4%
Closed Sales
117
150
+ 28.2%
908
1,073
+ 18.2%
Median Sales Price*
$356,000
$417,000
+ 17.1%
$360,000
$385,000
+ 6.9%
Median Sales Price*
$317,500
$331,250
+ 4.3%
$315,000
$322,000
+ 2.2%
Average Sales Price*
$412,795
$596,458
+ 44.5%
$444,845
$471,218
+ 5.9%
Average Sales Price*
$360,683
$375,980
+ 4.2%
$344,794
$365,966
+ 6.1%
97.1%
97.1%
0.0%
95.7%
96.2%
+ 0.5%
Percent of Original List Price Received*
94.3%
97.6%
+ 3.5%
95.5%
96.7%
+ 1.3%
Days on Market Until Sale
46
24
- 47.8%
50
44
- 12.0%
Days on Market Until Sale
53
27
- 49.1%
48
42
- 12.5%
Inventory of Homes for Sale
212
83
- 60.8%
--
--
--
Inventory of Homes for Sale
414
170
- 58.9%
--
--
--
Percent of Original List Price Received*
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Townhouse-Condo Attached
Townhouse-Condo Attached
August
Year to Date
August
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
22
21
- 4.5%
221
198
- 10.4%
New Listings
59
49
- 16.9%
454
380
- 16.3%
Closed Sales
14
22
+ 57.1%
174
149
- 14.4%
Closed Sales
64
41
- 35.9%
355
325
- 8.5%
Median Sales Price*
$212,000
$210,400
- 0.8%
$205,000
$207,000
+ 1.0%
Median Sales Price*
$211,995
$214,000
+ 0.9%
$210,000
$214,105
+ 2.0%
Average Sales Price*
$211,063
$239,623
+ 13.5%
$216,527
$205,495
- 5.1%
Average Sales Price*
$211,360
$218,187
+ 3.2%
$210,445
$215,183
+ 2.3%
100.1%
98.5%
- 1.6%
97.1%
96.7%
- 0.4%
Percent of Original List Price Received*
96.9%
98.7%
+ 1.9%
97.3%
97.1%
- 0.2%
Days on Market Until Sale
12
39
+ 225.0%
41
41
0.0%
Days on Market Until Sale
39
35
- 10.3%
43
50
+ 16.3%
Inventory of Homes for Sale
56
30
- 46.4%
--
--
--
Inventory of Homes for Sale
122
52
- 57.4%
--
--
--
Percent of Original List Price Received*
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Historical Median Sales Price
* Does not account for sale concessions and/or downpayment assistance. | Percent changes are calculated using rounded figures and can sometimes look extreme due to small sample size.
Historical Median Sales Price
Rolling 12-Month Calculation
Townhouse-Condo Attached
Single-Family Detached
All MLS — James Island —
$400,000
Townhouse-Condo Attached
Single-Family Detached All MLS — James Island —
$240,000
All MLS — West Ashley Area —
$350,000
$220,000
$325,000
$200,000
$300,000
$180,000
$275,000
$160,000
$250,000
$140,000
$225,000
$120,000
$200,000
Rolling 12-Month Calculation
$240,000
$220,000
$350,000
$300,000
All MLS — West Ashley Area —
$200,000
$180,000 $250,000
$160,000
$200,000
$150,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$175,000 1-2010
$140,000
1-2012
1-2014
1-2016
1-2018
1-2020
$120,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
132 East Bay Street, Charleston, SC 29401 309 Coleman Boulevard, Mount Pleasant, SC 29464
843.628.0008 | TheCassinaGroup.com
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