REAL ESTATE REPORT
PRESENTED BY THE CASSINA GROUP
JULY 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.
Local Market Update – July 2023
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 25 21 - 16.0%201 148 - 26.4% Closed Sales 20 16 - 20.0%180 107 - 40.6% Median Sales Price* $1,437,500 $2,262,500 + 57.4%$1,272,500 $1,675,000 + 31.6% Average Sales Price* $1,976,100 $2,338,838 + 18.4%$1,734,254 $2,146,211 + 23.8% Percent of Original List Price Received*102.9% 88.7% - 13.8%97.4% 93.4% - 4.1% Days on Market Until Sale 11 52 + 372.7%46 49 + 6.5% Inventory of Homes for Sale 60 45 - 25.0% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 18 21 + 16.7%212 147 - 30.7% Closed Sales 18 17 - 5.6%195 108 - 44.6% Median Sales Price* $662,500 $600,000 - 9.4%$655,000 $671,000 + 2.4% Average Sales Price* $1,052,472 $788,824 - 25.1%$914,714 $787,742 - 13.9% Percent of Original List Price Received*97.1% 97.7% + 0.6%97.9% 95.8% - 2.1% Days on Market Until Sale 7 33 + 371.4%55 38 - 30.9% Inventory of Homes for Sale 48 52 + 8.3% All MLS — All MLS —
Single-Family Detached
A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown Charleston July 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 July 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 August 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 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 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 Townhouse-Condo Attached
Local Market Update – July 2023
Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 11 9 - 18.2%165 107 - 35.2% Closed Sales 12 9 - 25.0%130 83 - 36.2% Median Sales Price* $705,000 $815,000 + 15.6%$650,000 $787,000 + 21.1% Average Sales Price* $821,083 $969,744 + 18.1%$757,122 $868,653 + 14.7% Percent of Original List Price Received*99.5% 98.7% - 0.8%98.9% 96.8% - 2.1% Days on Market Until Sale 12 5 - 58.3%33 28 - 15.2% Inventory of Homes for Sale 26 17 - 34.6% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 4 2 - 50.0%25 19 - 24.0% Closed Sales 4 0 - 100.0%25 17 - 32.0% Median Sales Price* $437,500 $0 - 100.0%$415,000 $530,000 + 27.7% Average Sales Price* $432,234 $0 - 100.0%$461,473 $593,353 + 28.6% Percent of Original List Price Received*96.4% 0.0% - 100.0%96.4% 104.1% + 8.0% Days on Market Until Sale 5 0 - 100.0%64 28 - 56.3% Inventory of Homes for Sale 5 1 - 80.0% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
Charleston Peninsula July 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 July 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 August 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 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
Upper
Local Market Update – July 2023
Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 87 53 - 39.1%580 402 - 30.7% Closed Sales 68 42 - 38.2%463 290 - 37.4% Median Sales Price* $955,000 $885,000 - 7.3%$910,000 $900,000 - 1.1% Average Sales Price* $1,259,408 $1,402,015 + 11.3%$1,194,592 $1,306,009 + 9.3% Percent of Original List Price Received*98.7% 96.9% - 1.8%100.6% 96.2% - 4.4% Days on Market Until Sale 13 12 - 7.7% 11 24 + 118.2% Inventory of Homes for Sale 101 73 - 27.7% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 22 27 + 22.7%249 187 - 24.9% Closed Sales 27 18 - 33.3%225 147 - 34.7% Median Sales Price* $361,000 $380,000 + 5.3%$380,000 $398,550 + 4.9% Average Sales Price* $490,713 $506,306 + 3.2%$515,986 $496,872 - 3.7% Percent of Original List Price Received*98.4% 98.1% - 0.3%101.4% 98.0% - 3.4% Days on Market Until Sale 10 18 + 80.0% 9 19 + 111.1% Inventory of Homes for Sale 31 19 - 38.7% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
July 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 July 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 August 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
Lower Mount Pleasant
Local Market Update – July 2023
Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 114 58 - 49.1%756 619 - 18.1% Closed Sales 79 71 - 10.1%584 493 - 15.6% Median Sales Price* $775,000 $1,040,000 + 34.2%$808,000 $899,000 + 11.3% Average Sales Price* $892,849 $1,085,644 + 21.6%$909,950 $991,293 + 8.9% Percent of Original List Price Received*99.6% 98.8% - 0.8%101.2% 97.5% - 3.7% Days on Market Until Sale 9 18 + 100.0%12 33 + 175.0% Inventory of Homes for Sale 164 112 - 31.7% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 28 29 + 3.6%228 168 - 26.3% Closed Sales 29 19 - 34.5%198 152 - 23.2% Median Sales Price* $367,000 $420,000 + 14.4%$416,443 $517,500 + 24.3% Average Sales Price* $412,513 $492,874 + 19.5%$421,081 $504,542 + 19.8% Percent of Original List Price Received*100.2% 99.8% - 0.4%102.0% 98.4% - 3.5% Days on Market Until Sale 6 27 + 350.0%11 26 + 136.4% Inventory of Homes for Sale 29 15 - 48.3% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Mount Pleasant July 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 July 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 August 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 $600,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
Local Market Update – July 2023
Isle of Palms
Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 22 8 - 63.6%156 106 - 32.1% Closed Sales 11 10 - 9.1%113 73 - 35.4% Median Sales Price* $2,580,000 $1,705,000 - 33.9%$2,000,000 $1,950,000 - 2.5% Average Sales Price* $2,899,070 $2,083,500 - 28.1%$2,319,593 $2,678,384 + 15.5% Percent of Original List Price Received*93.6% 94.6% + 1.1%97.8% 92.8% - 5.1% Days on Market Until Sale 29 54 + 86.2%26 63 + 142.3% Inventory of Homes for Sale 53 50 - 5.7% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 11 10 - 9.1% 87 72 - 17.2% Closed Sales 5 5 0.0% 55 57 + 3.6% Median Sales Price* $1,090,000 $1,312,000 + 20.4%$875,000 $880,000 + 0.6% Average Sales Price* $1,055,000 $1,669,400 + 58.2%$983,944 $1,066,395 + 8.4% Percent of Original List Price Received*100.5% 101.0% + 0.5%99.1% 96.9% - 2.2% Days on Market Until Sale 16 17 + 6.3% 34 29 - 14.7% Inventory of Homes for Sale 32 16 - 50.0% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
July 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 July 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 August 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
Local Market Update – July 2023
Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 5 0 - 100.0%35 32 - 8.6% Closed Sales 2 2 0.0% 23 27 + 17.4% Median Sales Price* $7,450,000 $2,575,000 - 65.4%$4,177,125 $4,500,000 + 7.7% Average Sales Price* $7,450,000 $2,575,000 - 65.4%$4,479,310 $4,579,148 + 2.2% Percent of Original List Price Received*97.9% 73.3% - 25.1%95.0% 93.6% - 1.5% Days on Market Until Sale 10 292 + 2,820.0%32 81 + 153.1% Inventory of Homes for Sale 9 9 0.0% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 0 0 2 0 - 100.0% Closed Sales 2 0 - 100.0%4 1 - 75.0% Median Sales Price* $1,543,750 $0 - 100.0%$1,812,500 $1,375,000 - 24.1% Average Sales Price* $1,543,750 $0 - 100.0%$1,678,125 $1,375,000 - 18.1% Percent of Original List Price Received*94.8% 0.0% - 100.0%90.9% 98.2% + 8.0% Days on Market Until Sale 30 0 - 100.0%49 38 - 22.4% Inventory of Homes for Sale 0 0 All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Sullivan's
July 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 July 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 August 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 – July 2023
Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 49 50 + 2.0%436 329 - 24.5% Closed Sales 40 33 - 17.5%368 282 - 23.4% Median Sales Price* $600,000 $630,000 + 5.0%$565,000 $601,500 + 6.5% Average Sales Price* $709,713 $847,007 + 19.3%$634,453 $711,103 + 12.1% Percent of Original List Price Received*98.8% 98.3% - 0.5%101.1% 97.0% - 4.1% Days on Market Until Sale 10 13 + 30.0%13 26 + 100.0% Inventory of Homes for Sale 63 44 - 30.2% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 20 23 + 15.0%173 118 - 31.8% Closed Sales 21 16 - 23.8%159 97 - 39.0% Median Sales Price* $294,500 $322,500 + 9.5%$290,000 $307,000 + 5.9% Average Sales Price* $305,857 $321,303 + 5.1%$305,050 $332,832 + 9.1% Percent of Original List Price Received*101.0% 101.1% + 0.1%102.4% 100.4% - 2.0% Days on Market Until Sale 9 4 - 55.6% 9 8 - 11.1% Inventory of Homes for Sale 12 13 + 8.3% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
July 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 July 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 August 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 $400,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
James Island
Local Market Update – July 2023
West Ashley Area
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 130 111 - 14.6%991 759 - 23.4% Closed Sales 109 73 - 33.0%866 631 - 27.1% Median Sales Price* $485,000 $515,000 + 6.2%$445,469 $480,000 + 7.8% Average Sales Price* $529,477 $560,360 + 5.8%$501,133 $535,904 + 6.9% Percent of Original List Price Received*100.2% 100.3% + 0.1%101.2% 97.9% - 3.3% Days on Market Until Sale 10 9 - 10.0%13 23 + 76.9% Inventory of Homes for Sale 133 92 - 30.8% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 42 31 - 26.2%295 225 - 23.7% Closed Sales 31 31 0.0% 280 189 - 32.5% Median Sales Price* $292,000 $290,000 - 0.7%$321,500 $308,500 - 4.0% Average Sales Price* $298,911 $318,081 + 6.4%$308,340 $327,277 + 6.1% Percent of Original List Price Received*101.8% 98.6% - 3.1%102.5% 98.6% - 3.8% Days on Market Until Sale 5 18 + 260.0%11 18 + 63.6% Inventory of Homes for Sale 29 24 - 17.2% All MLS — All MLS —
Single-Family Detached
A Research Tool Provided by the Charleston Trident Association of REALTORS®
July 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 July 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 West Ashley Area — West Ashley Area — Current as of August 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 $400,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
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