FEBRUARY 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 – February 2020
Local Market Update – February 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 February
Single-Family Detached
Year to Date
February
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
49
33
- 32.7%
88
73
- 17.0%
New Listings
23
25
+ 8.7%
41
46
+ 12.2%
Closed Sales
8
15
+ 87.5%
18
26
+ 44.4%
Closed Sales
13
18
+ 38.5%
30
27
- 10.0%
Median Sales Price*
$757,500
$568,900
- 24.9%
$1,167,500
$680,000
- 41.8%
Median Sales Price*
$465,000
$465,000
0.0%
$438,500
$465,000
+ 6.0%
Average Sales Price*
$820,313
$832,887
+ 1.5%
$1,230,972
$855,704
- 30.5%
Average Sales Price*
$441,538
$556,914
+ 26.1%
$414,133
$556,794
+ 34.4%
92.6%
89.9%
- 2.9%
92.2%
88.8%
- 3.7%
Percent of Original List Price Received*
89.4%
91.5%
+ 2.3%
89.4%
91.6%
+ 2.5%
Days on Market Until Sale
66
114
+ 72.7%
75
123
+ 64.0%
Days on Market Until Sale
127
88
- 30.7%
96
75
- 21.9%
Inventory of Homes for Sale
210
160
- 23.8%
--
--
--
Inventory of Homes for Sale
72
60
- 16.7%
--
--
--
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
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
35
37
+ 5.7%
66
71
+ 7.6%
New Listings
3
3
0.0%
6
8
+ 33.3%
Closed Sales
9
18
+ 100.0%
21
30
+ 42.9%
Closed Sales
0
0
--
1
3
+ 200.0%
Median Sales Price*
$800,000
$592,500
- 25.9%
$990,000
$598,500
- 39.5%
Median Sales Price*
$0
$0
--
$264,500
$255,000
- 3.6%
Average Sales Price*
$1,152,556
$954,889
- 17.2%
$1,103,833
$867,700
- 21.4%
Average Sales Price*
$0
$0
--
$264,500
$250,333
- 5.4%
90.4%
89.8%
- 0.7%
91.8%
88.4%
- 3.7%
Percent of Original List Price Received*
0.0%
0.0%
--
89.8%
98.6%
+ 9.8%
Days on Market Until Sale
122
126
+ 3.3%
109
160
+ 46.8%
Days on Market Until Sale
0
0
--
132
65
- 50.8%
Inventory of Homes for Sale
171
158
- 7.6%
--
--
--
Inventory of Homes for Sale
13
17
+ 30.8%
--
--
--
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 $1,400,000
* 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 March 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 March 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 – February 2020
Local Market Update – February 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 February
Single-Family Detached
Year to Date
February
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
113
84
- 25.7%
198
165
- 16.7%
New Listings
150
105
- 30.0%
292
228
- 21.9%
Closed Sales
50
56
+ 12.0%
84
104
+ 23.8%
Closed Sales
70
61
- 12.9%
113
142
+ 25.7%
Median Sales Price*
$690,000
$612,495
- 11.2%
$640,000
$567,500
- 11.3%
Median Sales Price*
$461,654
$570,000
+ 23.5%
$488,924
$540,663
+ 10.6%
Average Sales Price*
$768,560
$716,288
- 6.8%
$720,440
$691,421
- 4.0%
Average Sales Price*
$521,578
$636,999
+ 22.1%
$550,284
$589,730
+ 7.2%
91.5%
92.5%
+ 1.1%
92.6%
93.4%
+ 0.9%
Percent of Original List Price Received*
95.9%
95.4%
- 0.5%
95.9%
96.2%
+ 0.3%
Days on Market Until Sale
92
96
+ 4.3%
79
81
+ 2.5%
Days on Market Until Sale
76
98
+ 28.9%
70
81
+ 15.7%
Inventory of Homes for Sale
260
199
- 23.5%
--
--
--
Inventory of Homes for Sale
452
279
- 38.3%
--
--
--
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.
* 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
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
40
48
+ 20.0%
72
91
+ 26.4%
New Listings
43
43
0.0%
82
78
- 4.9%
Closed Sales
27
22
- 18.5%
40
36
- 10.0%
Closed Sales
28
19
- 32.1%
46
32
- 30.4%
Median Sales Price*
$239,500
$253,000
+ 5.6%
$255,000
$232,725
- 8.7%
Median Sales Price*
$238,250
$319,500
+ 34.1%
$291,000
$305,750
+ 5.1%
Average Sales Price*
$381,794
$249,761
- 34.6%
$401,266
$245,239
- 38.9%
Average Sales Price*
$274,854
$326,261
+ 18.7%
$298,961
$313,154
+ 4.7%
95.5%
96.6%
+ 1.2%
95.6%
96.7%
+ 1.2%
Percent of Original List Price Received*
95.9%
96.9%
+ 1.0%
95.2%
97.0%
+ 1.9%
Days on Market Until Sale
54
64
+ 18.5%
55
58
+ 5.5%
Days on Market Until Sale
49
56
+ 14.3%
59
68
+ 15.3%
Inventory of Homes for Sale
102
93
- 8.8%
--
--
--
Inventory of Homes for Sale
111
90
- 18.9%
--
--
--
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.
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 1-2010
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 March 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 March 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 – February 2020
Local Market Update – February 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 February
Single-Family Detached
Year to Date
February
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
34
+ 17.2%
66
56
- 15.2%
New Listings
3
10
+ 233.3%
12
14
+ 16.7%
Closed Sales
10
13
+ 30.0%
17
23
+ 35.3%
Closed Sales
4
5
+ 25.0%
8
8
0.0%
Median Sales Price*
$920,000
$1,499,000
+ 62.9%
$910,000
$1,070,000
+ 17.6%
Median Sales Price*
$2,762,500
$1,225,000
- 55.7%
$1,988,438
$2,147,500
+ 8.0%
Average Sales Price*
$1,178,250
$1,569,654
+ 33.2%
$1,211,618
$1,333,087
+ 10.0%
Average Sales Price*
$2,652,500
$1,738,200
- 34.5%
$2,129,234
$2,148,875
+ 0.9%
92.9%
89.5%
- 3.7%
93.1%
89.9%
- 3.4%
88.4%
92.6%
+ 4.8%
88.0%
93.0%
+ 5.7%
Days on Market Until Sale
106
94
- 11.3%
91
107
+ 17.6%
Days on Market Until Sale
42
63
+ 50.0%
62
67
+ 8.1%
Inventory of Homes for Sale
148
125
- 15.5%
--
--
--
Inventory of Homes for Sale
30
20
- 33.3%
--
--
--
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
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
13
15
+ 15.4%
27
26
- 3.7%
New Listings
1
0
- 100.0%
1
0
- 100.0%
Closed Sales
5
8
+ 60.0%
6
14
+ 133.3%
Closed Sales
0
0
--
1
1
0.0%
Median Sales Price*
$754,000
$459,250
- 39.1%
$588,000
$626,000
+ 6.5%
Median Sales Price*
$0
$0
--
$1,770,000
$1,600,000
- 9.6%
Average Sales Price*
$613,100
$535,750
- 12.6%
$581,250
$668,881
+ 15.1%
Average Sales Price*
$0
$0
--
$1,770,000
$1,600,000
- 9.6%
90.7%
93.9%
+ 3.5%
91.5%
93.4%
+ 2.1%
Percent of Original List Price Received*
0.0%
0.0%
--
94.4%
87.7%
- 7.1%
Days on Market Until Sale
121
65
- 46.3%
109
101
- 7.3%
Days on Market Until Sale
0
0
--
195
516
+ 164.6%
Inventory of Homes for Sale
74
69
- 6.8%
--
--
--
Inventory of Homes for Sale
3
1
- 66.7%
--
--
--
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
* 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
Single-Family Detached All MLS — Isle of Palms —
$700,000
$1,000,000
$600,000
$800,000
$500,000
$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 $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 March 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 March 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 – February 2020
Local Market Update – February 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 February
Single-Family Detached
Year to Date
February
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
86
89
+ 3.5%
168
165
- 1.8%
New Listings
140
139
- 0.7%
288
326
+ 13.2%
Closed Sales
37
51
+ 37.8%
72
101
+ 40.3%
Closed Sales
99
118
+ 19.2%
162
195
+ 20.4%
Median Sales Price*
$360,000
$368,000
+ 2.2%
$363,113
$361,000
- 0.6%
Median Sales Price*
$312,000
$325,500
+ 4.3%
$311,500
$315,000
+ 1.1%
Average Sales Price*
$617,092
$425,164
- 31.1%
$517,420
$428,045
- 17.3%
Average Sales Price*
$345,554
$338,215
- 2.1%
$350,252
$331,276
- 5.4%
93.9%
95.4%
+ 1.6%
94.7%
95.0%
+ 0.3%
Percent of Original List Price Received*
96.4%
95.4%
- 1.0%
95.4%
95.4%
0.0%
Days on Market Until Sale
70
57
- 18.6%
66
56
- 15.2%
Days on Market Until Sale
46
57
+ 23.9%
52
54
+ 3.8%
Inventory of Homes for Sale
201
143
- 28.9%
--
--
--
Inventory of Homes for Sale
341
250
- 26.7%
--
--
--
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
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
27
23
- 14.8%
47
47
0.0%
New Listings
54
51
- 5.6%
95
93
- 2.1%
Closed Sales
13
15
+ 15.4%
25
25
0.0%
Closed Sales
34
47
+ 38.2%
59
72
+ 22.0%
Median Sales Price*
$154,500
$216,500
+ 40.1%
$190,000
$217,000
+ 14.2%
Median Sales Price*
$235,073
$229,900
- 2.2%
$233,000
$231,137
- 0.8%
Average Sales Price*
$182,988
$201,427
+ 10.1%
$213,245
$202,152
- 5.2%
Average Sales Price*
$215,100
$213,183
- 0.9%
$215,952
$218,369
+ 1.1%
95.3%
94.9%
- 0.4%
95.4%
95.0%
- 0.4%
Percent of Original List Price Received*
96.8%
95.7%
- 1.1%
96.5%
96.0%
- 0.5%
Days on Market Until Sale
70
45
- 35.7%
70
44
- 37.1%
Days on Market Until Sale
44
67
+ 52.3%
46
64
+ 39.1%
Inventory of Homes for Sale
56
49
- 12.5%
--
--
--
Inventory of Homes for Sale
97
65
- 33.0%
--
--
--
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 — James Island —
$400,000
Single-Family Detached All MLS — James Island —
$240,000 $220,000
Townhouse-Condo Attached All MLS — West Ashley Area —
$300,000
$350,000 $200,000 $300,000
$325,000
Rolling 12-Month Calculation All MLS — West Ashley Area —
$220,000
$200,000
$275,000 $180,000
$180,000 $250,000 $160,000
$250,000
$160,000 $225,000
$140,000 $200,000
$150,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
$140,000
$200,000
$120,000
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of March 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
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 March 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
FOLLOW THE CASSINA GROUP