JANUARY 2019
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 – January 2019
Local Market Update – January 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 January
Single-Family Detached
Year to Date
January
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
34
39
+ 14.7%
34
39
+ 14.7%
New Listings
25
18
- 28.0%
25
18
- 28.0%
Closed Sales
12
10
- 16.7%
12
10
- 16.7%
Closed Sales
14
16
+ 14.3%
14
16
+ 14.3%
Median Sales Price*
$1,150,000
$1,588,750
+ 38.2%
$1,150,000
$1,588,750
+ 38.2%
Median Sales Price*
$469,250
$397,750
- 15.2%
$469,250
$397,750
- 15.2%
Average Sales Price*
$1,608,458
$1,559,500
- 3.0%
$1,608,458
$1,559,500
- 3.0%
Average Sales Price*
$456,214
$390,250
- 14.5%
$456,214
$390,250
- 14.5%
92.9%
91.9%
- 1.1%
92.9%
91.9%
- 1.1%
Percent of Original List Price Received*
90.4%
89.1%
- 1.4%
90.4%
89.1%
- 1.4%
Days on Market Until Sale
50
82
+ 64.0%
50
82
+ 64.0%
Days on Market Until Sale
62
74
+ 19.4%
62
74
+ 19.4%
Inventory of Homes for Sale
116
161
+ 38.8%
--
--
--
Inventory of Homes for Sale
53
67
+ 26.4%
--
--
--
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
January
Year to Date
January
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
26
30
+ 15.4%
26
30
+ 15.4%
New Listings
6
3
- 50.0%
6
3
- 50.0%
Closed Sales
17
12
- 29.4%
17
12
- 29.4%
Closed Sales
5
1
- 80.0%
5
1
- 80.0%
Median Sales Price*
$710,000
$994,500
+ 40.1%
$710,000
$994,500
+ 40.1%
Median Sales Price*
$665,000
$264,500
- 60.2%
$665,000
$264,500
- 60.2%
Average Sales Price*
$752,147
$1,067,292
+ 41.9%
$752,147
$1,067,292
+ 41.9%
Average Sales Price*
$661,110
$264,500
- 60.0%
$661,110
$264,500
- 60.0%
93.2%
92.8%
- 0.4%
93.2%
92.8%
- 0.4%
103.4%
89.8%
- 13.2%
103.4%
89.8%
- 13.2%
Days on Market Until Sale
80
99
+ 23.8%
80
99
+ 23.8%
Days on Market Until Sale
43
132
+ 207.0%
43
132
+ 207.0%
Inventory of Homes for Sale
125
155
+ 24.0%
--
--
--
Inventory of Homes for Sale
9
10
+ 11.1%
--
--
--
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 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
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
$600,000
$400,000
$300,000 $300,000
$400,000
$300,000
$200,000
$200,000
$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 February 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 February 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 – January 2019
Local Market Update – January 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 January
Single-Family Detached
Year to Date
January
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
74
86
+ 16.2%
74
86
+ 16.2%
New Listings
106
141
+ 33.0%
106
141
+ 33.0%
Closed Sales
63
34
- 46.0%
63
34
- 46.0%
Closed Sales
60
43
- 28.3%
60
43
- 28.3%
Median Sales Price*
$535,000
$542,500
+ 1.4%
$535,000
$542,500
+ 1.4%
Median Sales Price*
$525,260
$594,440
+ 13.2%
$525,260
$594,440
+ 13.2%
Average Sales Price*
$614,487
$649,676
+ 5.7%
$614,487
$649,676
+ 5.7%
Average Sales Price*
$589,151
$595,164
+ 1.0%
$589,151
$595,164
+ 1.0%
93.2%
94.1%
+ 1.0%
93.2%
94.1%
+ 1.0%
Percent of Original List Price Received*
96.2%
96.1%
- 0.1%
96.2%
96.1%
- 0.1%
Days on Market Until Sale
61
60
- 1.6%
61
60
- 1.6%
Days on Market Until Sale
97
60
- 38.1%
97
60
- 38.1%
Inventory of Homes for Sale
206
230
+ 11.7%
--
--
--
Inventory of Homes for Sale
400
380
- 5.0%
--
--
--
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
January
Year to Date
January
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
36
32
- 11.1%
36
32
- 11.1%
New Listings
32
39
+ 21.9%
32
39
+ 21.9%
Closed Sales
22
13
- 40.9%
22
13
- 40.9%
Closed Sales
18
18
0.0%
18
18
0.0%
Median Sales Price*
$215,750
$287,500
+ 33.3%
$215,750
$287,500
+ 33.3%
Median Sales Price*
$316,190
$339,500
+ 7.4%
$316,190
$339,500
+ 7.4%
Average Sales Price*
$324,977
$441,708
+ 35.9%
$324,977
$441,708
+ 35.9%
Average Sales Price*
$298,426
$336,461
+ 12.7%
$298,426
$336,461
+ 12.7%
96.3%
95.8%
- 0.5%
96.3%
95.8%
- 0.5%
Percent of Original List Price Received*
97.9%
94.1%
- 3.9%
97.9%
94.1%
- 3.9%
Days on Market Until Sale
65
55
- 15.4%
65
55
- 15.4%
Days on Market Until Sale
93
73
- 21.5%
93
73
- 21.5%
Inventory of Homes for Sale
75
88
+ 17.3%
--
--
--
Inventory of Homes for Sale
82
94
+ 14.6%
--
--
--
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 February 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 February 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 – January 2019
Local Market Update – January 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 January
Single-Family Detached
Year to Date
January
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
19
36
+ 89.5%
19
36
+ 89.5%
New Listings
7
10
+ 42.9%
7
10
+ 42.9%
Closed Sales
17
7
- 58.8%
17
7
- 58.8%
Closed Sales
2
4
+ 100.0%
2
4
+ 100.0%
Median Sales Price*
$1,180,000
$910,000
- 22.9%
$1,180,000
$910,000
- 22.9%
Median Sales Price*
$3,030,000
$1,663,438
- 45.1%
$3,030,000
$1,663,438
- 45.1%
Average Sales Price*
$1,419,176
$1,259,286
- 11.3%
$1,419,176
$1,259,286
- 11.3%
Average Sales Price*
$3,030,000
$1,605,969
- 47.0%
$3,030,000
$1,605,969
- 47.0%
88.5%
93.3%
+ 5.4%
88.5%
93.3%
+ 5.4%
Percent of Original List Price Received*
94.7%
87.5%
- 7.6%
94.7%
87.5%
- 7.6%
Days on Market Until Sale
181
69
- 61.9%
181
69
- 61.9%
Days on Market Until Sale
122
82
- 32.8%
122
82
- 32.8%
Inventory of Homes for Sale
122
133
+ 9.0%
--
--
--
Inventory of Homes for Sale
23
27
+ 17.4%
--
--
--
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
January
Year to Date
January
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
13
+ 8.3%
12
13
+ 8.3%
New Listings
1
0
- 100.0%
1
0
- 100.0%
Closed Sales
8
1
- 87.5%
8
1
- 87.5%
Closed Sales
0
1
--
0
1
--
Median Sales Price*
$465,000
$422,000
- 9.2%
$465,000
$422,000
- 9.2%
Median Sales Price*
$0
$1,770,000
--
$0
$1,770,000
--
Average Sales Price*
$486,063
$422,000
- 13.2%
$486,063
$422,000
- 13.2%
Average Sales Price*
$0
$1,770,000
--
$0
$1,770,000
--
96.3%
95.9%
- 0.4%
96.3%
95.9%
- 0.4%
Percent of Original List Price Received*
0.0%
94.4%
--
0.0%
94.4%
--
Days on Market Until Sale
104
49
- 52.9%
104
49
- 52.9%
Days on Market Until Sale
0
195
--
0
195
--
Inventory of Homes for Sale
61
69
+ 13.1%
--
--
--
Inventory of Homes for Sale
1
3
+ 200.0%
--
--
--
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
Single-Family Detached All MLS — Isle of Palms —
$1,000,000
$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 $600,000
$1,500,000
$400,000
$1,000,000
$200,000
$500,000
$600,000
$2,000,000
$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 February 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 February 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 – January 2019
Local Market Update – January 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 January
Single-Family Detached
Year to Date
January
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
74
80
+ 8.1%
74
80
+ 8.1%
New Listings
129
150
+ 16.3%
129
150
+ 16.3%
Closed Sales
42
35
- 16.7%
42
35
- 16.7%
Closed Sales
73
63
- 13.7%
73
63
- 13.7%
Median Sales Price*
$393,500
$370,000
- 6.0%
$393,500
$370,000
- 6.0%
Median Sales Price*
$300,000
$311,000
+ 3.7%
$300,000
$311,000
+ 3.7%
Average Sales Price*
$423,185
$412,052
- 2.6%
$423,185
$412,052
- 2.6%
Average Sales Price*
$354,847
$362,316
+ 2.1%
$354,847
$362,316
+ 2.1%
95.4%
95.5%
+ 0.1%
95.4%
95.5%
+ 0.1%
Percent of Original List Price Received*
95.8%
93.7%
- 2.2%
95.8%
93.7%
- 2.2%
Days on Market Until Sale
37
63
+ 70.3%
37
63
+ 70.3%
Days on Market Until Sale
50
61
+ 22.0%
50
61
+ 22.0%
Inventory of Homes for Sale
162
172
+ 6.2%
--
--
--
Inventory of Homes for Sale
288
308
+ 6.9%
--
--
--
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.
* 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
January
Year to Date
January
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
13
20
+ 53.8%
13
20
+ 53.8%
New Listings
40
41
+ 2.5%
40
41
+ 2.5%
Closed Sales
9
11
+ 22.2%
9
11
+ 22.2%
Closed Sales
25
25
0.0%
25
25
0.0%
Median Sales Price*
$176,000
$190,000
+ 8.0%
$176,000
$190,000
+ 8.0%
Median Sales Price*
$166,500
$232,500
+ 39.6%
$166,500
$232,500
+ 39.6%
Average Sales Price*
$194,333
$236,542
+ 21.7%
$194,333
$236,542
+ 21.7%
Average Sales Price*
$175,648
$217,109
+ 23.6%
$175,648
$217,109
+ 23.6%
96.1%
95.5%
- 0.6%
96.1%
95.5%
- 0.6%
Percent of Original List Price Received*
96.5%
96.2%
- 0.3%
96.5%
96.2%
- 0.3%
Days on Market Until Sale
56
60
+ 7.1%
56
60
+ 7.1%
Days on Market Until Sale
39
49
+ 25.6%
39
49
+ 25.6%
Inventory of Homes for Sale
52
41
- 21.2%
--
--
--
Inventory of Homes for Sale
70
79
+ 12.9%
--
--
--
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
* 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 February 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 February 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