AUGUST 2023
REAL ESTATE REPORT
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 2023
Single-Family Detached
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 23 14 - 39.1%224 162 - 27.7% Closed Sales 17 13 - 23.5%197 120 - 39.1% Median Sales Price* $2,575,000 $1,600,000 - 37.9%$1,295,000 $1,625,000 + 25.5% Average Sales Price* $2,735,715 $1,802,685 - 34.1%$1,820,674 $2,108,996 + 15.8% Percent of Original List Price Received*96.7% 94.9% - 1.9%97.3% 93.5% - 3.9% Days on Market Until Sale 57 77 + 35.1%47 52 + 10.6% Inventory of Homes for Sale 52 39 - 25.0% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 32 31 - 3.1%244 178 - 27.0% Closed Sales 15 11 - 26.7%210 119 - 43.3% Median Sales Price* $635,900 $775,000 + 21.9%$650,000 $682,000 + 4.9% Average Sales Price* $635,493 $1,084,977 + 70.7%$894,770 $815,217 - 8.9% Percent of Original List Price Received*93.5% 93.5% 0.0%97.5% 95.6% - 1.9% Days on Market Until Sale 88 41 - 53.4%57 38 - 33.3% Inventory of Homes for Sale 58 67 + 15.5%-Downtown Charleston — Downtown Charleston — Current as of September 8, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown Charleston August Year to Date * 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. Area 51 August Year to Date * 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 $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 19 14 - 26.3%184 121 - 34.2% Closed Sales 17 8 - 52.9%147 91 - 38.1% Median Sales Price* $655,000 $786,000 + 20.0%$650,000 $787,000 + 21.1% Average Sales Price* $799,500 $768,375 - 3.9%$762,023 $859,837 + 12.8% Percent of Original List Price Received*95.8% 100.2% + 4.6%98.5% 97.1% - 1.4% Days on Market Until Sale 21 27 + 28.6%32 28 - 12.5% Inventory of Homes for Sale 29 16 - 44.8% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 4 3 - 25.0%29 22 - 24.1% Closed Sales 2 1 - 50.0%27 18 - 33.3% Median Sales Price* $575,000 $301,000 - 47.7%$423,000 $517,500 + 22.3% Average Sales Price* $575,000 $301,000 - 47.7%$469,883 $577,111 + 22.8% Percent of Original List Price Received*98.3% 105.6% + 7.4%96.5% 104.2% + 8.0% Days on Market Until Sale 22 2 - 90.9%61 26 - 57.4% Inventory of Homes for Sale 9 2 - 77.8% Upper Charleston Peninsula — Upper Charleston Peninsula — Current as of September 8, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Charleston Peninsula August Year to Date * 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. Area 52 August Year to Date * 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 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
Local Market Update – August 2023
Local Market Update – August 2023
Single-Family Detached
Local Market Update – August 2023
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 58 62 + 6.9%638 464 - 27.3% Closed Sales 56 51 - 8.9%519 341 - 34.3% Median Sales Price* $720,000 $1,035,000 + 43.8%$900,000 $923,000 + 2.6% Average Sales Price* $934,455 $1,326,582 + 42.0%$1,166,524 $1,309,100 + 12.2% Percent of Original List Price Received*96.9% 95.8% - 1.1%100.2% 96.2% - 4.0% Days on Market Until Sale 18 29 + 61.1%11 25 + 127.3% Inventory of Homes for Sale 91 66 - 27.5% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 22 16 - 27.3%271 204 - 24.7% Closed Sales 22 24 + 9.1%247 172 - 30.4% Median Sales Price* $410,000 $454,000 + 10.7%$387,500 $402,500 + 3.9% Average Sales Price* $492,250 $679,438 + 38.0%$513,872 $521,696 + 1.5% Percent of Original List Price Received*97.6% 99.2% + 1.6%101.1% 98.2% - 2.9% Days on Market Until Sale 19 22 + 15.8%10 20 + 100.0% Inventory of Homes for Sale 29 18 - 37.9% Lower Mount Pleasant — Lower Mount Pleasant — Current as of September 8, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
August Year to Date * 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. Area 42 August Year to Date * 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 $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 101 76 - 24.8%857 695 - 18.9% Closed Sales 73 69 - 5.5%657 565 - 14.0% Median Sales Price* $800,000 $885,000 + 10.6%$805,000 $900,000 + 11.8% Average Sales Price* $979,735 $997,310 + 1.8%$917,703 $992,428 + 8.1% Percent of Original List Price Received*97.2% 98.3% + 1.1%100.7% 97.7% - 3.0% Days on Market Until Sale 13 18 + 38.5%12 31 + 158.3% Inventory of Homes for Sale 168 112 - 33.3% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 32 31 - 3.1%260 199 - 23.5% Closed Sales 32 22 - 31.3%230 176 - 23.5% Median Sales Price* $491,250 $580,000 + 18.1%$418,943 $523,000 + 24.8% Average Sales Price* $463,650 $549,236 + 18.5%$427,004 $510,724 + 19.6% Percent of Original List Price Received*100.2% 98.8% - 1.4%101.8% 98.5% - 3.2% Days on Market Until Sale 11 15 + 36.4%11 25 + 127.3% Inventory of Homes for Sale 33 18 - 45.5% Upper Mount Pleasant — Upper Mount Pleasant — Current as of September 8, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS — All MLS —
Lower Mount Pleasant
A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Mount Pleasant August Year to Date * 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. Area 41 August Year to Date * 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 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
Local Market Update – August 2023
Single-Family Detached
Local Market Update – August 2023
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 18 33 + 83.3%174 139 - 20.1% Closed Sales 12 10 - 16.7%125 83 - 33.6% Median Sales Price* $2,097,500 $3,050,050 + 45.4%$2,000,000 $2,000,000 0.0% Average Sales Price* $2,128,333 $2,736,010 + 28.6%$2,301,232 $2,685,327 + 16.7% Percent of Original List Price Received*89.7% 91.4% + 1.9%97.0% 92.7% - 4.4% Days on Market Until Sale 25 134 + 436.0%25 72 + 188.0% Inventory of Homes for Sale 55 52 - 5.5% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 11 10 - 9.1% 98 82 - 16.3% Closed Sales 12 5 - 58.3%67 62 - 7.5% Median Sales Price* $1,004,500 $1,029,000 + 2.4%$880,000 $890,000 + 1.1% Average Sales Price* $959,917 $981,800 + 2.3%$979,640 $1,059,573 + 8.2% Percent of Original List Price Received*97.6% 97.4% - 0.2%98.8% 96.9% - 1.9% Days on Market Until Sale 7 7 0.0% 29 27 - 6.9% Inventory of Homes for Sale 28 18 - 35.7% Isle of Palms — Isle of Palms — Current as of September 8, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
August Year to Date * 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. Areas 44 & 45 August Year to Date * 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 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 5 6 + 20.0%40 38 - 5.0% Closed Sales 2 3 + 50.0%25 30 + 20.0% Median Sales Price* $6,500,000 $2,000,000 - 69.2%$4,500,000 $4,275,000 - 5.0% Average Sales Price* $6,500,000 $3,091,667 - 52.4%$4,640,965 $4,430,400 - 4.5% Percent of Original List Price Received*88.3% 90.6% + 2.6%94.4% 93.3% - 1.2% Days on Market Until Sale 54 92 + 70.4%33 82 + 148.5% Inventory of Homes for Sale 13 11 - 15.4% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 0 0 2 0 - 100.0% Closed Sales 0 0 4 1 - 75.0% Median Sales Price* $0 $0 --$1,812,500 $1,375,000 - 24.1% Average Sales Price* $0 $0 --$1,678,125 $1,375,000 - 18.1% Percent of Original List Price Received*0.0% 0.0% 90.9% 98.2% + 8.0% Days on Market Until Sale 0 0 49 38 - 22.4% Inventory of Homes for Sale 0 0 Sullivan's Island — Sullivan's Island — Current as of September 8, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS — All MLS —
Isle of Palms
Research
Association of REALTORS® Sullivan's Island August Year to Date * 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. Area 43 August Year to Date * 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 $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
A
Tool Provided by the Charleston Trident
Local Market Update – August 2023
James Island
Single-Family Detached
Local Market Update – August 2023
West Ashley Area
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 58 43 - 25.9%494 373 - 24.5% Closed Sales 48 33 - 31.3%416 316 - 24.0% Median Sales Price* $545,000 $630,000 + 15.6%$562,250 $606,500 + 7.9% Average Sales Price* $659,782 $867,700 + 31.5%$637,376 $726,630 + 14.0% Percent of Original List Price Received*96.4% 99.1% + 2.8%100.6% 97.2% - 3.4% Days on Market Until Sale 23 12 - 47.8%14 25 + 78.6% Inventory of Homes for Sale 74 47 - 36.5% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 19 13 - 31.6%192 131 - 31.8% Closed Sales 23 17 - 26.1%182 114 - 37.4% Median Sales Price* $260,000 $301,000 + 15.8%$281,200 $305,500 + 8.6% Average Sales Price* $274,235 $317,876 + 15.9%$301,156 $330,602 + 9.8% Percent of Original List Price Received*100.2% 99.6% - 0.6%102.1% 100.3% - 1.8% Days on Market Until Sale 8 21 + 162.5%9 10 + 11.1% Inventory of Homes for Sale 7 9 + 28.6%-James Island — James Island — Current as of September 8, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
August Year to Date * 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. Area 21 August Year to Date * 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 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 1-20131-20151-20171-20191-20211-2023
Attached Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 103 101 - 1.9%1,094 859 - 21.5% Closed Sales 109 103 - 5.5%975 734 - 24.7% Median Sales Price* $440,000 $506,500 + 15.1%$445,000 $487,750 + 9.6% Average Sales Price* $504,980 $593,780 + 17.6%$501,563 $544,026 + 8.5% Percent of Original List Price Received*98.3% 98.7% + 0.4%100.9% 98.1% - 2.8% Days on Market Until Sale 13 16 + 23.1%13 22 + 69.2% Inventory of Homes for Sale 127 83 - 34.6% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 30 35 + 16.7%325 260 - 20.0% Closed Sales 37 22 - 40.5%317 212 - 33.1% Median Sales Price* $299,000 $390,000 + 30.4%$319,000 $314,500 - 1.4% Average Sales Price* $305,797 $364,250 + 19.1%$308,043 $330,466 + 7.3% Percent of Original List Price Received*100.7% 99.0% - 1.7%102.3% 98.7% - 3.5% Days on Market Until Sale 7 6 - 14.3%11 17 + 54.5% Inventory of Homes for Sale 28 29 + 3.6% West Ashley Area — West Ashley Area — Current as of September 8, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS — All MLS —
Townhouse-Condo
A Research Tool Provided by the Charleston Trident Association of REALTORS®
August Year to Date * 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. Areas 11 & 12 August Year to Date * 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 $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
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