February 2023 Real Estate Report | The Cassina Group

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REAL ESTATE REPORT

PRESENTED BY THE CASSINA GROUP

FEBRUARY 2023

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.

Single-Family Detached

Local Market Update – February 2023

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 21 27 + 28.6%40 40 0.0% Closed Sales 28 14 - 50.0%45 20 - 55.6% Median Sales Price* $830,000 $2,169,500 + 161.4%$880,000 $2,105,500 + 139.3% Average Sales Price* $1,416,661 $2,391,357 + 68.8%$1,375,789 $2,289,000 + 66.4% Percent of Original List Price Received*96.7% 90.7% - 6.2%96.3% 92.4% - 4.0% Days on Market Until Sale 70 61 - 12.9%57 55 - 3.5% Inventory of Homes for Sale 34 54 + 58.8%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 43 20 - 53.5%62 32 - 48.4% Closed Sales 24 11 - 54.2%39 24 - 38.5% Median Sales Price* $710,000 $559,500 - 21.2%$650,000 $614,500 - 5.5% Average Sales Price* $929,146 $586,727 - 36.9%$884,269 $745,604 - 15.7% Percent of Original List Price Received*98.2% 93.0% - 5.3%96.6% 94.4% - 2.3% Days on Market Until Sale 66 67 + 1.5% 77 53 - 31.2% Inventory of Homes for Sale 46 50 + 8.7% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown
February 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 February 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 March 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. $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 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
Attached
Local Market Update – February 2023
Charleston
Townhouse-Condo
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 29 20 - 31.0%55 26 - 52.7% Closed Sales 16 10 - 37.5%36 20 - 44.4% Median Sales Price* $637,500 $715,000 + 12.2%$623,000 $687,500 + 10.4% Average Sales Price* $630,938 $728,700 + 15.5%$659,194 $712,475 + 8.1% Percent of Original List Price Received*97.0% 90.2% - 7.0%96.7% 92.7% - 4.1% Days on Market Until Sale 53 70 + 32.1%61 45 - 26.2% Inventory of Homes for Sale 24 16 - 33.3% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 0 3 2 5 + 150.0% Closed Sales 4 2 - 50.0% 7 3 - 57.1% Median Sales Price* $675,000 $382,750 - 43.3%$475,000 $450,000 - 5.3% Average Sales Price* $772,500 $382,750 - 50.5%$609,286 $405,167 - 33.5% Percent of Original List Price Received*100.6% 100.7% + 0.1%95.6% 100.4% + 5.0% Days on Market Until Sale 52 37 - 28.8%170 31 - 81.8% Inventory of Homes for Sale 7 4 - 42.9% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
Charleston
February 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 February 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 March 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. $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 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
Upper
Peninsula

Single-Family Detached

Local Market Update – February 2023

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 74 49 - 33.8%133 95 - 28.6% Closed Sales 49 22 - 55.1%87 50 - 42.5% Median Sales Price* $850,000 $863,250 + 1.6%$775,000 $878,000 + 13.3% Average Sales Price* $1,367,223 $1,209,205 - 11.6%$1,157,819 $1,146,304 - 1.0% Percent of Original List Price Received*99.5% 94.6% - 4.9%98.7% 95.8% - 2.9% Days on Market Until Sale 15 39 + 160.0%15 29 + 93.3% Inventory of Homes for Sale 30 70 + 133.3%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 39 18 - 53.8%72 35 - 51.4% Closed Sales 30 16 - 46.7%59 30 - 49.2% Median Sales Price* $365,000 $387,500 + 6.2%$375,000 $374,500 - 0.1% Average Sales Price* $429,232 $434,375 + 1.2%$470,987 $409,497 - 13.1% Percent of Original List Price Received*102.6% 95.2% - 7.2%101.7% 96.1% - 5.5% Days on Market Until Sale 6 31 + 416.7%11 28 + 154.5% Inventory of Homes for Sale 17 21 + 23.5%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
February 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 February 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 March 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. $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 85 66 - 22.4%143 122 - 14.7% Closed Sales 58 47 - 19.0%107 90 - 15.9% Median Sales Price* $745,931 $850,000 + 14.0%$755,000 $779,250 + 3.2% Average Sales Price* $831,812 $921,737 + 10.8%$835,561 $932,245 + 11.6% Percent of Original List Price Received*101.1% 94.8% - 6.2%100.7% 93.9% - 6.8% Days on Market Until Sale 22 52 + 136.4%20 50 + 150.0% Inventory of Homes for Sale 43 81 + 88.4%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 29 18 - 37.9%54 37 - 31.5% Closed Sales 20 20 0.0% 50 32 - 36.0% Median Sales Price* $320,500 $447,450 + 39.6%$306,000 $447,450 + 46.2% Average Sales Price* $354,685 $476,365 + 34.3%$349,257 $469,127 + 34.3% Percent of Original List Price Received*103.5% 97.4% - 5.9%102.9% 96.5% - 6.2% Days on Market Until Sale 14 37 + 164.3%21 40 + 90.5% Inventory of Homes for Sale 13 22 + 69.2%-All MLS — All MLS —
Local Market Update – February 2023
Lower Mount Pleasant
A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Mount Pleasant February 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 February 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 March 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. $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 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached

Local

Isle of Palms

Single-Family Detached

Local Market Update – February 2023

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 20 13 - 35.0%38 21 - 44.7% Closed Sales 17 7 - 58.8%31 13 - 58.1% Median Sales Price* $1,750,000 $1,300,000 - 25.7%$1,425,000 $1,775,000 + 24.6% Average Sales Price* $2,032,659 $1,636,000 - 19.5%$1,728,791 $2,110,923 + 22.1% Percent of Original List Price Received*98.7% 90.7% - 8.1%98.1% 91.0% - 7.2% Days on Market Until Sale 12 92 + 666.7%18 84 + 366.7% Inventory of Homes for Sale 19 35 + 84.2%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 7 11 + 57.1%13 14 + 7.7% Closed Sales 10 4 - 60.0%12 7 - 41.7% Median Sales Price* $677,500 $1,377,500 + 103.3%$677,500 $770,000 + 13.7% Average Sales Price* $846,600 $1,456,250 + 72.0%$911,750 $1,075,571 + 18.0% Percent of Original List Price Received*95.8% 93.6% - 2.3%95.7% 96.1% + 0.4% Days on Market Until Sale 48 27 - 43.8%45 16 - 64.4% Inventory of Homes for Sale 5 12 + 140.0%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
Market Update – February 2023
February 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 February 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 Isle of Palms — Isle of Palms — Current as of March 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 1-20131-20151-20171-20191-20211-2023 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 8 0 - 100.0%11 6 - 45.5% Closed Sales 4 2 - 50.0% 4 3 - 25.0% Median Sales Price* $2,831,500 $6,997,500 + 147.1%$2,831,500 $5,295,000 + 87.0% Average Sales Price* $2,697,000 $6,997,500 + 159.5%$2,697,000 $5,565,000 + 106.3% Percent of Original List Price Received*88.8% 88.2% - 0.7%88.8% 94.8% + 6.8% Days on Market Until Sale 43 169 + 293.0%43 114 + 165.1% Inventory of Homes for Sale 11 11 0.0% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 0 0 0 0 Closed Sales 1 0 - 100.0%2 1 - 50.0% Median Sales Price* $2,100,000 $0 - 100.0%$1,812,500 $1,375,000 - 24.1% Average Sales Price* $2,100,000 $0 - 100.0%$1,812,500 $1,375,000 - 24.1% Percent of Original List Price Received*95.7% 0.0% - 100.0%86.9% 98.2% + 13.0% Days on Market Until Sale 3 0 - 100.0%67 38 - 43.3% Inventory of Homes for Sale 0 0 All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Sullivan's
February 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 February 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 March 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 $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
Island

Local Market Update – February 2023

James Island

Single-Family Detached

Local Market Update – February 2023

West Ashley Area

Townhouse-Condo

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 38 41 + 7.9% 96 73 - 24.0% Closed Sales 42 24 - 42.9%86 50 - 41.9% Median Sales Price* $527,500 $527,500 0.0%$525,250 $545,000 + 3.8% Average Sales Price* $552,263 $671,417 + 21.6%$560,854 $625,227 + 11.5% Percent of Original List Price Received*99.7% 92.2% - 7.5%100.3% 94.1% - 6.2% Days on Market Until Sale 34 48 + 41.2%24 37 + 54.2% Inventory of Homes for Sale 21 45 + 114.3%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 25 13 - 48.0%43 24 - 44.2% Closed Sales 14 10 - 28.6%29 19 - 34.5% Median Sales Price* $228,250 $305,500 + 33.8%$250,000 $304,000 + 21.6% Average Sales Price* $236,679 $326,900 + 38.1%$255,121 $325,053 + 27.4% Percent of Original List Price Received*101.3% 96.5% - 4.7%100.1% 96.5% - 3.6% Days on Market Until Sale 13 25 + 92.3%23 25 + 8.7% Inventory of Homes for Sale 3 2 - 33.3% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
February 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 February 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 James Island — James Island — Current as of March 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. $200,000 $300,000 $400,000 $500,000 $600,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 129 92 - 28.7%257 190 - 26.1% Closed Sales 114 70 - 38.6%208 123 - 40.9% Median Sales Price* $397,238 $452,500 + 13.9%$393,500 $432,000 + 9.8% Average Sales Price* $439,836 $500,144 + 13.7%$433,727 $495,439 + 14.2% Percent of Original List Price Received*99.6% 96.8% - 2.8%98.8% 95.2% - 3.6% Days on Market Until Sale 18 32 + 77.8%20 39 + 95.0% Inventory of Homes for Sale 67 98 + 46.3%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 31 20 - 35.5%65 47 - 27.7% Closed Sales 32 17 - 46.9%66 33 - 50.0% Median Sales Price* $316,250 $355,000 + 12.3%$318,250 $328,500 + 3.2% Average Sales Price* $301,442 $339,420 + 12.6%$302,412 $345,913 + 14.4% Percent of Original List Price Received*101.4% 97.8% - 3.6%101.1% 96.4% - 4.6% Days on Market Until Sale 10 33 + 230.0%10 26 + 160.0% Inventory of Homes for Sale 14 16 + 14.3%-All MLS — All MLS —
Townhouse-Condo
A Research Tool Provided by the Charleston Trident Association of REALTORS®
February 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 February 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 March 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. $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 1-20131-20151-20171-20191-20211-2023
Attached
Townhouse-Condo
132 East Bay Street, Charleston, SC 29401 309 Coleman Boulevard, Mount Pleasant, SC 29464 843.628.0008 | CassinaGroup.com FOLLOW THE CASSINA GROUP

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