AUGUST 2019
R E AL E STATE 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 2019
Local Market Update – August 2019
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
27
29
+ 7.4%
274
324
+ 18.2%
New Listings
25
19
- 24.0%
191
195
+ 2.1%
Closed Sales
24
17
- 29.2%
160
129
- 19.4%
Closed Sales
9
14
+ 55.6%
122
139
+ 13.9%
Median Sales Price*
$1,429,720
$946,700
- 33.8%
$980,000
$1,025,000
+ 4.6%
Median Sales Price*
$470,000
$478,500
+ 1.8%
$507,000
$450,000
- 11.2%
Average Sales Price*
$1,687,043
$1,326,578
- 21.4%
$1,322,513
$1,392,256
+ 5.3%
Average Sales Price*
$497,222
$484,470
- 2.6%
$518,848
$479,682
- 7.5%
89.3%
87.1%
- 2.5%
91.6%
90.3%
- 1.4%
Percent of Original List Price Received*
94.0%
91.9%
- 2.2%
93.8%
90.8%
- 3.2%
Days on Market Until Sale
71
78
+ 9.9%
92
90
- 2.2%
Days on Market Until Sale
28
48
+ 71.4%
54
66
+ 22.2%
Inventory of Homes for Sale
164
190
+ 15.9%
--
--
--
Inventory of Homes for Sale
80
70
- 12.5%
--
--
--
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
40
22
- 45.0%
304
298
- 2.0%
New Listings
5
4
- 20.0%
42
26
- 38.1%
Closed Sales
13
21
+ 61.5%
123
123
0.0%
Closed Sales
2
2
0.0%
20
15
- 25.0%
Median Sales Price*
$1,250,000
$585,000
- 53.2%
$588,000
$600,000
+ 2.0%
Median Sales Price*
$314,500
$285,000
- 9.4%
$461,500
$280,000
- 39.3%
Average Sales Price*
$1,225,395
$760,548
- 37.9%
$759,211
$727,035
- 4.2%
Average Sales Price*
$314,500
$285,000
- 9.4%
$487,328
$351,590
- 27.9%
94.9%
88.9%
- 6.3%
94.3%
91.9%
- 2.5%
Percent of Original List Price Received*
95.5%
87.6%
- 8.3%
95.0%
92.2%
- 2.9%
Days on Market Until Sale
70
102
+ 45.7%
89
92
+ 3.4%
Days on Market Until Sale
6
304
+ 4,966.7%
45
103
+ 128.9%
Inventory of Homes for Sale
162
173
+ 6.8%
--
--
--
Inventory of Homes for Sale
18
13
- 27.8%
--
--
--
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 $1,200,000
* 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 —
$700,000
$1,000,000
$600,000
$800,000
$500,000
$600,000
$400,000
$400,000
$300,000
$200,000
$200,000
Single-Family Detached All MLS — Downtown Charleston —
$600,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —
All MLS — Upper Charleston Peninsula —
$500,000
$500,000 $400,000 $400,000 $300,000 $300,000
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
$200,000
$200,000
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2019
Local Market Update – August 2019
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
102
95
- 6.9%
826
892
+ 8.0%
New Listings
132
117
- 11.4%
1,099
1,150
+ 4.6%
Closed Sales
72
89
+ 23.6%
592
585
- 1.2%
Closed Sales
98
123
+ 25.5%
694
793
+ 14.3%
Median Sales Price*
$520,000
$525,000
+ 1.0%
$570,000
$570,000
0.0%
Median Sales Price*
$528,000
$538,357
+ 2.0%
$520,020
$514,040
- 1.1%
Average Sales Price*
$654,369
$606,941
- 7.2%
$672,255
$692,586
+ 3.0%
Average Sales Price*
$611,542
$606,913
- 0.8%
$573,870
$570,210
- 0.6%
94.2%
93.5%
- 0.7%
95.5%
94.5%
- 1.0%
Percent of Original List Price Received*
96.2%
96.1%
- 0.1%
96.5%
96.5%
0.0%
Days on Market Until Sale
52
60
+ 15.4%
51
61
+ 19.6%
Days on Market Until Sale
77
80
+ 3.9%
76
71
- 6.6%
Inventory of Homes for Sale
265
290
+ 9.4%
--
--
--
Inventory of Homes for Sale
425
322
- 24.2%
--
--
--
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
46
30
- 34.8%
338
299
- 11.5%
New Listings
48
36
- 25.0%
346
335
- 3.2%
Closed Sales
39
38
- 2.6%
262
231
- 11.8%
Closed Sales
34
42
+ 23.5%
240
243
+ 1.3%
Median Sales Price*
$250,000
$260,500
+ 4.2%
$241,000
$250,000
+ 3.7%
Median Sales Price*
$302,300
$312,450
+ 3.4%
$281,250
$308,000
+ 9.5%
Average Sales Price*
$314,980
$363,357
+ 15.4%
$326,704
$353,241
+ 8.1%
Average Sales Price*
$299,076
$300,759
+ 0.6%
$290,201
$296,510
+ 2.2%
97.1%
100.7%
+ 3.7%
96.9%
96.1%
- 0.8%
Percent of Original List Price Received*
97.1%
96.1%
- 1.0%
97.3%
96.4%
- 0.9%
Days on Market Until Sale
51
43
- 15.7%
46
54
+ 17.4%
Days on Market Until Sale
46
75
+ 63.0%
49
61
+ 24.5%
Inventory of Homes for Sale
88
81
- 8.0%
--
--
--
Inventory of Homes for Sale
100
99
- 1.0%
--
--
--
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 Single-Family Detached $600,000
* 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 $500,000
$500,000
$300,000
$400,000
$250,000
$300,000
$200,000
$200,000
$150,000
$220,000 $400,000
$200,000 $180,000
$300,000
$160,000 $200,000 $140,000 $100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$120,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2019
Local Market Update – August 2019
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
21
24
+ 14.3%
203
233
+ 14.8%
New Listings
7
5
- 28.6%
66
51
- 22.7%
Closed Sales
17
12
- 29.4%
135
126
- 6.7%
Closed Sales
7
3
- 57.1%
49
33
- 32.7%
Median Sales Price*
$890,000
$1,716,750
+ 92.9%
$925,000
$1,078,750
+ 16.6%
Median Sales Price*
$2,675,000
$2,800,000
+ 4.7%
$1,963,600
$2,000,000
+ 1.9%
Average Sales Price*
$1,182,735
$2,033,208
+ 71.9%
$1,283,396
$1,421,768
+ 10.8%
Average Sales Price*
$2,774,429
$2,873,333
+ 3.6%
$2,202,864
$2,293,420
+ 4.1%
92.4%
89.8%
- 2.8%
92.1%
91.8%
- 0.3%
Percent of Original List Price Received*
93.5%
98.9%
+ 5.8%
93.9%
88.6%
- 5.6%
Days on Market Until Sale
85
123
+ 44.7%
112
101
- 9.8%
Days on Market Until Sale
105
16
- 84.8%
83
99
+ 19.3%
Inventory of Homes for Sale
123
140
+ 13.8%
--
--
--
Inventory of Homes for Sale
25
25
0.0%
--
--
--
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.
* 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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
12
14
+ 16.7%
95
104
+ 9.5%
New Listings
0
0
--
6
2
- 66.7%
Closed Sales
4
10
+ 150.0%
68
55
- 19.1%
Closed Sales
0
0
--
2
3
+ 50.0%
Median Sales Price*
$580,000
$496,000
- 14.5%
$507,500
$479,000
- 5.6%
Median Sales Price*
$0
$0
--
$487,500
$1,735,000
+ 255.9%
Average Sales Price*
$592,500
$557,560
- 5.9%
$574,709
$528,274
- 8.1%
Average Sales Price*
$0
$0
--
$487,500
$1,397,500
+ 186.7%
97.1%
93.4%
- 3.8%
94.3%
94.9%
+ 0.6%
Percent of Original List Price Received*
0.0%
0.0%
--
97.5%
96.5%
- 1.0%
Days on Market Until Sale
50
179
+ 258.0%
92
102
+ 10.9%
Days on Market Until Sale
0
0
--
13
170
+ 1,207.7%
Inventory of Homes for Sale
67
77
+ 14.9%
--
--
--
Inventory of Homes for Sale
4
2
- 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
$1,000,000
Townhouse-Condo Attached
Single-Family Detached All MLS — Isle of Palms —
$1,000,000
$800,000
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
$800,000 $1,500,000
$600,000 $600,000
$2,000,000 $400,000
$1,000,000
$200,000
$500,000
$400,000
$200,000
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$0 1-2009
$1,000,000
1-2011
1-2013
1-2015
1-2017
1-2019
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2019
Local Market Update – August 2019
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
85
82
- 3.5%
687
735
+ 7.0%
New Listings
158
161
+ 1.9%
1,302
1,330
+ 2.2%
Closed Sales
54
64
+ 18.5%
508
499
- 1.8%
Closed Sales
116
114
- 1.7%
1,002
902
- 10.0%
Median Sales Price*
$364,950
$350,500
- 4.0%
$369,900
$360,000
- 2.7%
Median Sales Price*
$310,632
$319,750
+ 2.9%
$310,873
$317,000
+ 2.0%
Average Sales Price*
$442,657
$411,995
- 6.9%
$436,195
$444,724
+ 2.0%
Average Sales Price*
$354,325
$363,267
+ 2.5%
$348,403
$345,356
- 0.9%
96.0%
97.2%
+ 1.3%
97.1%
95.7%
- 1.4%
Percent of Original List Price Received*
97.7%
94.2%
- 3.6%
96.8%
95.5%
- 1.3%
Days on Market Until Sale
44
47
+ 6.8%
38
50
+ 31.6%
Days on Market Until Sale
36
54
+ 50.0%
38
49
+ 28.9%
Inventory of Homes for Sale
220
173
- 21.4%
--
--
--
Inventory of Homes for Sale
340
364
+ 7.1%
--
--
--
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
27
22
- 18.5%
184
221
+ 20.1%
New Listings
61
59
- 3.3%
378
453
+ 19.8%
Closed Sales
15
14
- 6.7%
154
174
+ 13.0%
Closed Sales
40
61
+ 52.5%
318
352
+ 10.7%
Median Sales Price*
$219,500
$212,000
- 3.4%
$196,500
$205,000
+ 4.3%
Median Sales Price*
$181,950
$214,000
+ 17.6%
$181,500
$211,000
+ 16.3%
Average Sales Price*
$207,840
$211,063
+ 1.6%
$197,463
$216,527
+ 9.7%
Average Sales Price*
$184,699
$213,587
+ 15.6%
$184,329
$210,917
+ 14.4%
97.7%
100.1%
+ 2.5%
96.7%
97.1%
+ 0.4%
Percent of Original List Price Received*
96.7%
96.7%
0.0%
97.6%
97.3%
- 0.3%
Days on Market Until Sale
19
12
- 36.8%
47
41
- 12.8%
Days on Market Until Sale
39
41
+ 5.1%
38
43
+ 13.2%
Inventory of Homes for Sale
48
41
- 14.6%
--
--
--
Inventory of Homes for Sale
89
109
+ 22.5%
--
--
--
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
$350,000
Townhouse-Condo Attached
Single-Family Detached All MLS — James Island —
$220,000
All MLS — West Ashley Area —
$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
$220,000
$200,000
$300,000
$180,000
$250,000
$160,000
$200,000
$150,000 1-2009
All MLS — West Ashley Area —
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$175,000 1-2009
$140,000
1-2011
1-2013
1-2015
1-2017
1-2019
$120,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
132 East Bay Street, Charleston, SC 29401 69 Morris Street, Charleston, SC 29403 309 Coleman Boulevard, Mount Pleasant, SC 29464
843.628.0008 | TheCassinaGroup.com
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