FEBRUARY 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 – February 2019
Local Market Update – February 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 February
Single-Family Detached
Year to Date
February
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
35
49
+ 40.0%
69
88
+ 27.5%
New Listings
15
22
+ 46.7%
40
40
0.0%
Closed Sales
15
8
- 46.7%
27
18
- 33.3%
Closed Sales
15
13
- 13.3%
29
30
+ 3.4%
Median Sales Price*
$1,200,000
$757,500
- 36.9%
$1,200,000
$1,167,500
- 2.7%
Median Sales Price*
$480,000
$465,000
- 3.1%
$480,000
$438,500
- 8.6%
Average Sales Price*
$1,227,394
$820,313
- 33.2%
$1,396,756
$1,230,972
- 11.9%
Average Sales Price*
$483,133
$441,538
- 8.6%
$470,138
$414,133
- 11.9%
96.9%
92.6%
- 4.4%
95.1%
92.2%
- 3.0%
Percent of Original List Price Received*
95.7%
89.4%
- 6.6%
93.2%
89.4%
- 4.1%
Days on Market Until Sale
105
66
- 37.1%
81
75
- 7.4%
Days on Market Until Sale
31
127
+ 309.7%
46
96
+ 108.7%
Inventory of Homes for Sale
121
187
+ 54.5%
--
--
--
Inventory of Homes for Sale
52
65
+ 25.0%
--
--
--
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
February
Year to Date
February
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
34
- 26.1%
72
65
- 9.7%
New Listings
6
4
- 33.3%
12
7
- 41.7%
Closed Sales
13
7
- 46.2%
30
19
- 36.7%
Closed Sales
0
0
--
5
1
- 80.0%
Median Sales Price*
$759,000
$800,000
+ 5.4%
$734,500
$990,000
+ 34.8%
Median Sales Price*
$0
$0
--
$665,000
$264,500
- 60.2%
Average Sales Price*
$854,046
$1,153,286
+ 35.0%
$796,303
$1,098,974
+ 38.0%
Average Sales Price*
$0
$0
--
$661,110
$264,500
- 60.0%
94.0%
88.6%
- 5.7%
93.5%
91.3%
- 2.4%
0.0%
0.0%
--
103.4%
89.8%
- 13.2%
Days on Market Until Sale
98
132
+ 34.7%
88
111
+ 26.1%
Days on Market Until Sale
0
0
--
43
132
+ 207.0%
Inventory of Homes for Sale
147
157
+ 6.8%
--
--
--
Inventory of Homes for Sale
14
12
- 14.3%
--
--
--
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 $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 —
Percent of Original List Price Received*
$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 March 8, 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 March 8, 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 – February 2019
Local Market Update – February 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 February
Single-Family Detached
Year to Date
February
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
101
114
+ 12.9%
175
199
+ 13.7%
New Listings
138
149
+ 8.0%
244
290
+ 18.9%
Closed Sales
45
50
+ 11.1%
108
84
- 22.2%
Closed Sales
51
71
+ 39.2%
111
114
+ 2.7%
Median Sales Price*
$535,000
$690,000
+ 29.0%
$535,000
$640,000
+ 19.6%
Median Sales Price*
$531,238
$466,750
- 12.1%
$530,250
$489,462
- 7.7%
Average Sales Price*
$600,552
$768,560
+ 28.0%
$608,681
$720,440
+ 18.4%
Average Sales Price*
$581,466
$524,763
- 9.8%
$585,658
$551,318
- 5.9%
95.2%
91.5%
- 3.9%
94.0%
92.6%
- 1.5%
96.4%
96.0%
- 0.4%
96.3%
96.0%
- 0.3%
Days on Market Until Sale
69
92
+ 33.3%
64
79
+ 23.4%
Days on Market Until Sale
84
75
- 10.7%
91
69
- 24.2%
Inventory of Homes for Sale
225
239
+ 6.2%
--
--
--
Inventory of Homes for Sale
405
415
+ 2.5%
--
--
--
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
February
Year to Date
February
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
48
40
- 16.7%
84
72
- 14.3%
New Listings
40
43
+ 7.5%
72
82
+ 13.9%
Closed Sales
16
27
+ 68.8%
38
40
+ 5.3%
Closed Sales
15
27
+ 80.0%
33
45
+ 36.4%
Median Sales Price*
$258,500
$239,500
- 7.4%
$224,250
$255,000
+ 13.7%
Median Sales Price*
$352,000
$237,500
- 32.5%
$330,000
$310,000
- 6.1%
Average Sales Price*
$308,844
$381,794
+ 23.6%
$318,184
$401,266
+ 26.1%
Average Sales Price*
$323,487
$276,181
- 14.6%
$309,817
$300,293
- 3.1%
95.8%
95.5%
- 0.3%
96.1%
95.6%
- 0.5%
Percent of Original List Price Received*
98.0%
95.7%
- 2.3%
98.0%
95.1%
- 3.0%
Days on Market Until Sale
49
54
+ 10.2%
58
55
- 5.2%
Days on Market Until Sale
41
51
+ 24.4%
69
60
- 13.0%
Inventory of Homes for Sale
87
93
+ 6.9%
--
--
--
Inventory of Homes for Sale
81
99
+ 22.2%
--
--
--
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.
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 March 8, 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 March 8, 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 – February 2019
Local Market Update – February 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 February
Single-Family Detached
Year to Date
February
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
22
28
+ 27.3%
41
64
+ 56.1%
New Listings
8
2
- 75.0%
15
12
- 20.0%
Closed Sales
10
10
0.0%
27
17
- 37.0%
Closed Sales
4
4
0.0%
6
8
+ 33.3%
Median Sales Price*
$1,019,500
$920,000
- 9.8%
$1,064,000
$910,000
- 14.5%
Median Sales Price*
$2,800,000
$2,762,500
- 1.3%
$2,882,500
$1,988,438
- 31.0%
Average Sales Price*
$1,252,600
$1,178,250
- 5.9%
$1,357,481
$1,211,618
- 10.7%
Average Sales Price*
$2,676,250
$2,652,500
- 0.9%
$2,794,167
$2,129,234
- 23.8%
90.9%
92.9%
+ 2.2%
89.4%
93.1%
+ 4.1%
Percent of Original List Price Received*
99.1%
88.4%
- 10.8%
97.7%
88.0%
- 9.9%
Days on Market Until Sale
122
106
- 13.1%
159
91
- 42.8%
Days on Market Until Sale
71
42
- 40.8%
88
62
- 29.5%
Inventory of Homes for Sale
113
137
+ 21.2%
--
--
--
Inventory of Homes for Sale
26
24
- 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.
* 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
February
Year to Date
February
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
16
13
- 18.8%
28
27
- 3.6%
New Listings
0
1
--
1
1
0.0%
Closed Sales
6
4
- 33.3%
14
5
- 64.3%
Closed Sales
0
0
--
0
1
--
Median Sales Price*
$515,000
$766,500
+ 48.8%
$502,500
$754,000
+ 50.0%
Median Sales Price*
$0
$0
--
$0
$1,770,000
--
Average Sales Price*
$521,458
$666,375
+ 27.8%
$501,232
$617,500
+ 23.2%
Average Sales Price*
$0
$0
--
$0
$1,770,000
--
88.5%
91.1%
+ 2.9%
93.0%
92.1%
- 1.0%
Percent of Original List Price Received*
0.0%
0.0%
--
0.0%
94.4%
--
Days on Market Until Sale
228
103
- 54.8%
157
92
- 41.4%
Days on Market Until Sale
0
0
--
0
195
--
Inventory of Homes for Sale
61
73
+ 19.7%
--
--
--
Inventory of Homes for Sale
0
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
* 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
Single-Family Detached All MLS — Isle of Palms —
$1,000,000
$800,000
$2,500,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Sullivan's Island —
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 March 8, 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 March 8, 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 – February 2019
Local Market Update – February 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 February
Single-Family Detached
Year to Date
February
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
97
85
- 12.4%
171
165
- 3.5%
New Listings
156
135
- 13.5%
285
283
- 0.7%
Closed Sales
63
36
- 42.9%
105
71
- 32.4%
Closed Sales
94
99
+ 5.3%
167
162
- 3.0%
Median Sales Price*
$345,000
$355,750
+ 3.1%
$365,000
$361,325
- 1.0%
Median Sales Price*
$301,758
$312,000
+ 3.4%
$300,000
$311,500
+ 3.8%
Average Sales Price*
$372,805
$620,900
+ 66.5%
$392,957
$517,947
+ 31.8%
Average Sales Price*
$323,969
$345,554
+ 6.7%
$337,466
$350,252
+ 3.8%
98.9%
93.8%
- 5.2%
97.5%
94.7%
- 2.9%
96.5%
96.4%
- 0.1%
96.2%
95.4%
- 0.8%
Days on Market Until Sale
40
72
+ 80.0%
39
67
+ 71.8%
Days on Market Until Sale
45
46
+ 2.2%
47
52
+ 10.6%
Inventory of Homes for Sale
177
179
+ 1.1%
--
--
--
Inventory of Homes for Sale
316
298
- 5.7%
--
--
--
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
February
Year to Date
February
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
18
27
+ 50.0%
31
47
+ 51.6%
New Listings
37
54
+ 45.9%
77
95
+ 23.4%
Closed Sales
11
13
+ 18.2%
20
25
+ 25.0%
Closed Sales
24
34
+ 41.7%
49
59
+ 20.4%
Median Sales Price*
$178,000
$154,500
- 13.2%
$177,000
$190,000
+ 7.3%
Median Sales Price*
$156,000
$235,073
+ 50.7%
$165,900
$233,000
+ 40.4%
Average Sales Price*
$174,500
$182,988
+ 4.9%
$183,425
$213,245
+ 16.3%
Average Sales Price*
$180,703
$215,100
+ 19.0%
$178,124
$215,952
+ 21.2%
94.5%
95.3%
+ 0.8%
95.2%
95.4%
+ 0.2%
Percent of Original List Price Received*
97.2%
96.8%
- 0.4%
96.8%
96.5%
- 0.3%
Days on Market Until Sale
44
70
+ 59.1%
50
70
+ 40.0%
Days on Market Until Sale
29
44
+ 51.7%
34
46
+ 35.3%
Inventory of Homes for Sale
45
51
+ 13.3%
--
--
--
Inventory of Homes for Sale
72
85
+ 18.1%
--
--
--
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.
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
Single-Family Detached All MLS — James Island —
$220,000
Townhouse-Condo Attached All MLS — West Ashley Area —
All MLS — West Ashley Area —
$220,000
$300,000
$200,000
$350,000
$320,000
Rolling 12-Month Calculation
$200,000 $280,000
$180,000 $300,000
$180,000
$260,000 $160,000 $240,000
$250,000 $140,000 $200,000
$150,000 1-2009
$120,000
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
$160,000
$220,000 $140,000
$200,000
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of March 8, 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.
$180,000 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 March 8, 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
FOLLOW THE CASSINA GROUP