DECEMBER 2022
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 – December 2022
Upper Charleston Peninsula
Single-Family Detached
Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 21 14 - 33.3%407 302 - 25.8% Closed Sales 28 16 - 42.9%386 250 - 35.2% Median Sales Price* $1,275,000 $1,465,000 + 14.9%$1,052,500 $1,325,000 + 25.9% Average Sales Price* $1,683,036 $1,915,125 + 13.8%$1,449,697 $1,820,951 + 25.6% Percent of Original List Price Received*94.3% 91.7% - 2.8%94.1% 96.8% + 2.9% Days on Market Until Sale 47 28 - 40.4%83 43 - 48.2% Inventory of Homes for Sale 54 47 - 13.0% Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 14 14 0.0% 389 309 - 20.6% Closed Sales 22 8 - 63.6%332 252 - 24.1% Median Sales Price* $703,500 $1,057,500 + 50.3%$650,000 $667,500 + 2.7% Average Sales Price* $1,009,864 $1,315,625 + 30.3%$798,249 $909,624 + 14.0% Percent of Original List Price Received*95.1% 89.1% - 6.3%94.1% 96.9% + 3.0% Days on Market Until Sale 65 90 + 38.5%96 57 - 40.6% Inventory of Homes for Sale 77 49 - 36.4% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown
December 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 December 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 Downtown Charleston — Downtown Charleston — Current as of January 9, 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. $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 12 10 - 16.7%267 242 - 9.4% Closed Sales 20 6 - 70.0%252 194 - 23.0% Median Sales Price* $599,500 $692,000 + 15.4%$599,000 $650,000 + 8.5% Average Sales Price* $709,500 $678,167 - 4.4%$632,201 $753,114 + 19.1% Percent of Original List Price Received*96.4% 89.2% - 7.5%96.2% 97.3% + 1.1% Days on Market Until Sale 39 41 + 5.1% 54 33 - 38.9% Inventory of Homes for Sale 19 33 + 73.7%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 1 4 + 300.0%49 39 - 20.4% Closed Sales 2 0 - 100.0%34 29 - 14.7% Median Sales Price* $510,750 $0 - 100.0%$442,000 $425,000 - 3.8% Average Sales Price* $510,750 $0 - 100.0%$521,585 $475,925 - 8.8% Percent of Original List Price Received*100.9% 0.0% - 100.0%98.0% 96.3% - 1.7% Days on Market Until Sale 4 0 - 100.0%33 58 + 75.8% Inventory of Homes for Sale 10 9 - 10.0% All MLS — All MLS —
Local Market Update – December 2022
Charleston
A Research Tool Provided by the Charleston Trident Association of REALTORS®
December 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 December 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 Upper Charleston Peninsula — Upper Charleston Peninsula — Current as of January 9, 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. $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
Local Market Update – December 2022
Single-Family Detached
Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 39 23 - 41.0%973 826 - 15.1% Closed Sales 74 35 - 52.7%959 679 - 29.2% Median Sales Price* $788,750 $765,000 - 3.0%$748,000 $885,590 + 18.4% Average Sales Price* $1,117,812 $1,209,469 + 8.2%$940,608 $1,187,614 + 26.3% Percent of Original List Price Received*99.4% 94.1% - 5.3%98.6% 98.6% 0.0% Days on Market Until Sale 14 26 + 85.7%22 15 - 31.8% Inventory of Homes for Sale 43 67 + 55.8%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 21 11 - 47.6%553 357 - 35.4% Closed Sales 36 17 - 52.8%554 324 - 41.5% Median Sales Price* $400,000 $385,000 - 3.8%$315,000 $395,000 + 25.4% Average Sales Price* $524,385 $550,117 + 4.9%$425,231 $521,591 + 22.7% Percent of Original List Price Received*99.3% 96.5% - 2.8%99.8% 99.9% + 0.1% Days on Market Until Sale 30 26 - 13.3%21 14 - 33.3% Inventory of Homes for Sale 10 22 + 120.0%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
December 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 December 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 Lower Mount Pleasant — Lower Mount Pleasant — Current as of January 9, 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. $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 51 31 - 39.2%1,260 1,124 - 10.8% Closed Sales 71 69 - 2.8%1,236 922 - 25.4% Median Sales Price* $750,000 $766,591 + 2.2%$650,000 $800,000 + 23.1% Average Sales Price* $870,888 $910,470 + 4.5%$733,435 $911,090 + 24.2% Percent of Original List Price Received*100.4% 94.0% - 6.4%100.8% 99.3% - 1.5% Days on Market Until Sale 26 40 + 53.8%18 17 - 5.6% Inventory of Homes for Sale 51 112 + 119.6%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 16 14 - 12.5%370 329 - 11.1% Closed Sales 40 16 - 60.0%363 293 - 19.3% Median Sales Price* $416,952 $527,250 + 26.5%$350,000 $425,000 + 21.4% Average Sales Price* $394,175 $511,494 + 29.8%$360,508 $434,266 + 20.5% Percent of Original List Price Received*99.9% 96.3% - 3.6%100.6% 100.7% + 0.1% Days on Market Until Sale 20 26 + 30.0%13 14 + 7.7% Inventory of Homes for Sale 11 27 + 145.5%-All MLS — All MLS —
Local Market Update – December 2022
Lower Mount Pleasant
A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Mount Pleasant December 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 December 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 Upper Mount Pleasant — Upper Mount Pleasant — Current as of January 9, 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. $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
Local Market Update – December 2022
Isle of Palms
Single-Family Detached
Local Market Update – December 2022
Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 9 3 - 66.7%307 218 - 29.0% Closed Sales 20 9 - 55.0%270 161 - 40.4% Median Sales Price* $2,060,000 $2,275,000 + 10.4%$1,650,000 $2,000,000 + 21.2% Average Sales Price* $2,403,150 $2,372,778 - 1.3%$1,997,679 $2,358,988 + 18.1% Percent of Original List Price Received*98.0% 89.6% - 8.6%97.5% 96.2% - 1.3% Days on Market Until Sale 21 72 + 242.9%29 32 + 10.3% Inventory of Homes for Sale 20 38 + 90.0%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 4 5 + 25.0%109 115 + 5.5% Closed Sales 9 6 - 33.3%115 98 - 14.8% Median Sales Price* $699,900 $695,000 - 0.7%$725,000 $841,750 + 16.1% Average Sales Price* $953,767 $874,833 - 8.3%$782,567 $974,407 + 24.5% Percent of Original List Price Received*96.2% 94.2% - 2.1%97.6% 97.1% - 0.5% Days on Market Until Sale 179 50 - 72.1%77 38 - 50.6% Inventory of Homes for Sale 10 13 + 30.0%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
December 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 December 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
Attached Isle of Palms — Isle of Palms — Current as of January 9, 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. $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 4 3 - 25.0%64 56 - 12.5% Closed Sales 6 2 - 66.7%50 28 - 44.0% Median Sales Price* $3,150,000 $3,325,000 + 5.6%$3,100,000 $4,338,563 + 40.0% Average Sales Price* $2,821,167 $3,325,000 + 17.9%$3,369,515 $4,555,326 + 35.2% Percent of Original List Price Received*92.7% 94.1% + 1.5%96.5% 94.6% - 2.0% Days on Market Until Sale 25 33 + 32.0%64 32 - 50.0% Inventory of Homes for Sale 11 15 + 36.4%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 2 1 - 50.0% 8 3 - 62.5% Closed Sales 2 0 - 100.0%6 4 - 33.3% Median Sales Price* $1,575,000 $0 - 100.0%$690,000 $1,812,500 + 162.7% Average Sales Price* $1,575,000 $0 - 100.0%$1,072,500 $1,678,125 + 56.5% Percent of Original List Price Received*97.1% 0.0% - 100.0%90.1% 90.9% + 0.9% Days on Market Until Sale 10 0 - 100.0%40 49 + 22.5% Inventory of Homes for Sale 0 1 All MLS — All MLS —
Townhouse-Condo
A Research Tool Provided by the Charleston Trident Association of REALTORS® Sullivan's Island December 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 December 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 Sullivan's Island — Sullivan's Island — Current as of January 9, 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. $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
Local Market Update – December 2022
James Island
Single-Family Detached
Local Market Update – December 2022
West Ashley Area
Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 34 23 - 32.4%738 658 - 10.8% Closed Sales 42 26 - 38.1%700 552 - 21.1% Median Sales Price* $517,000 $527,500 + 2.0%$460,000 $562,250 + 22.2% Average Sales Price* $586,866 $542,071 - 7.6%$561,665 $637,910 + 13.6% Percent of Original List Price Received*99.3% 96.1% - 3.2%99.2% 99.7% + 0.5% Days on Market Until Sale 14 24 + 71.4%19 15 - 21.1% Inventory of Homes for Sale 30 56 + 86.7%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 11 6 - 45.5%295 236 - 20.0% Closed Sales 23 10 - 56.5%296 228 - 23.0% Median Sales Price* $280,000 $328,750 + 17.4%$236,000 $287,250 + 21.7% Average Sales Price* $312,343 $326,900 + 4.7%$256,283 $302,388 + 18.0% Percent of Original List Price Received*96.2% 97.8% + 1.7%99.3% 101.3% + 2.0% Days on Market Until Sale 31 19 - 38.7%20 10 - 50.0% Inventory of Homes for Sale 11 5 - 54.5% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
December 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 December 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 James Island — James Island — Current as of January 9, 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. $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 86 59 - 31.4%1,602 1,456 - 9.1% Closed Sales 115 76 - 33.9%1,409 1,307 - 7.2% Median Sales Price* $425,000 $498,500 + 17.3%$395,000 $450,000 + 13.9% Average Sales Price* $521,836 $610,949 + 17.1%$451,306 $514,540 + 14.0% Percent of Original List Price Received*99.6% 93.8% - 5.8%99.0% 99.6% + 0.6% Days on Market Until Sale 16 31 + 93.8%18 15 - 16.7% Inventory of Homes for Sale 83 115 + 38.6%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 24 14 - 41.7%539 417 - 22.6% Closed Sales 38 23 - 39.5%522 404 - 22.6% Median Sales Price* $280,000 $295,000 + 5.4%$247,500 $317,750 + 28.4% Average Sales Price* $268,806 $291,652 + 8.5%$247,921 $309,238 + 24.7% Percent of Original List Price Received*100.1% 96.4% - 3.7%99.9% 101.3% + 1.4% Days on Market Until Sale 21 22 + 4.8% 17 11 - 35.3% Inventory of Homes for Sale 23 27 + 17.4%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
December 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 December 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
Attached West Ashley Area — West Ashley Area — Current as of January 9, 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. $100,000 $200,000 $300,000 $400,000 $500,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
Townhouse-Condo
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