JULY 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 – July 2019
Local Market Update – July 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 July
Single-Family Detached
Year to Date
July
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
31
36
+ 16.1%
247
294
+ 19.0%
New Listings
19
24
+ 26.3%
166
176
+ 6.0%
Closed Sales
10
19
+ 90.0%
136
112
- 17.6%
Closed Sales
14
16
+ 14.3%
113
125
+ 10.6%
Median Sales Price*
$983,750
$1,025,000
+ 4.2%
$920,000
$1,032,518
+ 12.2%
Median Sales Price*
$552,500
$450,000
- 18.6%
$507,000
$449,000
- 11.4%
Average Sales Price*
$1,476,562
$1,255,054
- 15.0%
$1,258,184
$1,402,225
+ 11.4%
Average Sales Price*
$595,714
$461,969
- 22.5%
$520,571
$479,146
- 8.0%
91.3%
90.5%
- 0.9%
92.0%
90.7%
- 1.4%
Percent of Original List Price Received*
94.8%
86.6%
- 8.6%
93.8%
90.7%
- 3.3%
Days on Market Until Sale
78
130
+ 66.7%
96
91
- 5.2%
Days on Market Until Sale
58
60
+ 3.4%
56
68
+ 21.4%
Inventory of Homes for Sale
163
200
+ 22.7%
--
--
--
Inventory of Homes for Sale
68
73
+ 7.4%
--
--
--
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
July
Year to Date
July
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
24
25
+ 4.2%
264
277
+ 4.9%
New Listings
7
4
- 42.9%
37
22
- 40.5%
Closed Sales
6
14
+ 133.3%
110
102
- 7.3%
Closed Sales
3
3
0.0%
18
13
- 27.8%
Median Sales Price*
$610,000
$477,500
- 21.7%
$562,500
$603,750
+ 7.3%
Median Sales Price*
$550,000
$280,000
- 49.1%
$509,000
$280,000
- 45.0%
Average Sales Price*
$580,608
$523,821
- 9.8%
$704,116
$720,135
+ 2.3%
Average Sales Price*
$566,667
$330,000
- 41.8%
$506,531
$361,835
- 28.6%
95.3%
94.6%
- 0.7%
94.2%
92.5%
- 1.8%
Percent of Original List Price Received*
93.7%
98.1%
+ 4.7%
94.9%
93.0%
- 2.0%
Days on Market Until Sale
30
78
+ 160.0%
92
90
- 2.2%
Days on Market Until Sale
14
10
- 28.6%
50
72
+ 44.0%
Inventory of Homes for Sale
153
184
+ 20.3%
--
--
--
Inventory of Homes for Sale
16
12
- 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.
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 —
$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 August 9, 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 August 9, 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 – July 2019
Local Market Update – July 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 July
Single-Family Detached
Year to Date
July
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
73
96
+ 31.5%
724
796
+ 9.9%
New Listings
124
124
0.0%
967
1,033
+ 6.8%
Closed Sales
65
70
+ 7.7%
520
495
- 4.8%
Closed Sales
101
125
+ 23.8%
596
669
+ 12.2%
Median Sales Price*
$577,500
$565,000
- 2.2%
$573,000
$573,675
+ 0.1%
Median Sales Price*
$532,500
$507,465
- 4.7%
$520,000
$509,980
- 1.9%
Average Sales Price*
$659,600
$680,292
+ 3.1%
$674,697
$707,890
+ 4.9%
Average Sales Price*
$588,320
$551,731
- 6.2%
$567,665
$563,532
- 0.7%
95.7%
96.2%
+ 0.5%
95.7%
94.7%
- 1.0%
Percent of Original List Price Received*
96.7%
96.5%
- 0.2%
96.6%
96.6%
0.0%
Days on Market Until Sale
50
63
+ 26.0%
51
62
+ 21.6%
Days on Market Until Sale
66
72
+ 9.1%
76
69
- 9.2%
Inventory of Homes for Sale
242
304
+ 25.6%
--
--
--
Inventory of Homes for Sale
439
369
- 15.9%
--
--
--
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
July
Year to Date
July
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
33
- 28.3%
292
269
- 7.9%
New Listings
41
38
- 7.3%
298
299
+ 0.3%
Closed Sales
33
31
- 6.1%
223
193
- 13.5%
Closed Sales
34
32
- 5.9%
206
201
- 2.4%
Median Sales Price*
$243,000
$257,250
+ 5.9%
$240,000
$250,000
+ 4.2%
Median Sales Price*
$256,500
$318,500
+ 24.2%
$277,500
$307,500
+ 10.8%
Average Sales Price*
$306,967
$299,703
- 2.4%
$328,754
$351,249
+ 6.8%
Average Sales Price*
$268,997
$310,836
+ 15.6%
$288,737
$295,622
+ 2.4%
96.5%
95.2%
- 1.3%
96.8%
95.2%
- 1.7%
Percent of Original List Price Received*
95.5%
96.3%
+ 0.8%
97.4%
96.5%
- 0.9%
Days on Market Until Sale
49
52
+ 6.1%
45
56
+ 24.4%
Days on Market Until Sale
47
58
+ 23.4%
50
58
+ 16.0%
Inventory of Homes for Sale
80
90
+ 12.5%
--
--
--
Inventory of Homes for Sale
88
103
+ 17.0%
--
--
--
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 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 August 9, 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 August 9, 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 – July 2019
Local Market Update – July 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 July
Single-Family Detached
Year to Date
July
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
28
13
- 53.6%
182
209
+ 14.8%
New Listings
1
5
+ 400.0%
59
46
- 22.0%
Closed Sales
11
17
+ 54.5%
118
114
- 3.4%
Closed Sales
7
8
+ 14.3%
42
30
- 28.6%
Median Sales Price*
$827,500
$935,000
+ 13.0%
$948,000
$1,050,000
+ 10.8%
Median Sales Price*
$2,300,000
$1,475,000
- 35.9%
$1,938,050
$1,975,000
+ 1.9%
Average Sales Price*
$1,298,773
$1,100,047
- 15.3%
$1,297,897
$1,357,406
+ 4.6%
Average Sales Price*
$2,017,437
$2,537,375
+ 25.8%
$2,107,604
$2,235,429
+ 6.1%
95.0%
90.2%
- 5.1%
92.0%
92.0%
0.0%
90.9%
87.7%
- 3.5%
93.9%
87.5%
- 6.8%
Days on Market Until Sale
101
123
+ 21.8%
116
99
- 14.7%
Days on Market Until Sale
81
133
+ 64.2%
80
107
+ 33.8%
Inventory of Homes for Sale
133
139
+ 4.5%
--
--
--
Inventory of Homes for Sale
23
28
+ 21.7%
--
--
--
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
July
Year to Date
July
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
6
8
+ 33.3%
83
90
+ 8.4%
New Listings
0
1
--
6
2
- 66.7%
Closed Sales
7
6
- 14.3%
64
45
- 29.7%
Closed Sales
0
2
--
2
3
+ 50.0%
Median Sales Price*
$820,000
$390,000
- 52.4%
$490,000
$479,000
- 2.2%
Median Sales Price*
$0
$1,211,250
--
$487,500
$1,735,000
+ 255.9%
Average Sales Price*
$811,429
$497,033
- 38.7%
$573,597
$521,766
- 9.0%
Average Sales Price*
$0
$1,211,250
--
$487,500
$1,397,500
+ 186.7%
93.6%
94.3%
+ 0.7%
94.1%
95.2%
+ 1.2%
Percent of Original List Price Received*
0.0%
97.5%
--
97.5%
96.5%
- 1.0%
Days on Market Until Sale
73
147
+ 101.4%
94
85
- 9.6%
Days on Market Until Sale
0
158
--
13
170
+ 1,207.7%
Inventory of Homes for Sale
62
76
+ 22.6%
--
--
--
Inventory of Homes for Sale
4
2
- 50.0%
--
--
--
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
$1,000,000
Townhouse-Condo Attached
Single-Family Detached All MLS — Isle of Palms —
$1,000,000
$800,000
Rolling 12-Month Calculation All MLS — Sullivan's Island —
$2,500,000
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 August 9, 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 August 9, 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 – July 2019
Local Market Update – July 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 July
Single-Family Detached
Year to Date
July
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
61
81
+ 32.8%
602
653
+ 8.5%
New Listings
118
177
+ 50.0%
1,144
1,168
+ 2.1%
Closed Sales
72
54
- 25.0%
454
433
- 4.6%
Closed Sales
131
133
+ 1.5%
885
786
- 11.2%
Median Sales Price*
$374,450
$366,378
- 2.2%
$370,000
$361,325
- 2.3%
Median Sales Price*
$315,000
$315,000
0.0%
$310,835
$315,000
+ 1.3%
Average Sales Price*
$475,402
$431,295
- 9.3%
$435,424
$447,900
+ 2.9%
Average Sales Price*
$336,392
$324,025
- 3.7%
$347,659
$342,980
- 1.3%
96.0%
96.1%
+ 0.1%
97.2%
95.6%
- 1.6%
Percent of Original List Price Received*
96.4%
96.8%
+ 0.4%
96.7%
95.7%
- 1.0%
Days on Market Until Sale
41
42
+ 2.4%
38
50
+ 31.6%
Days on Market Until Sale
31
41
+ 32.3%
38
48
+ 26.3%
Inventory of Homes for Sale
204
183
- 10.3%
--
--
--
Inventory of Homes for Sale
349
353
+ 1.1%
--
--
--
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.
* 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
July
Year to Date
July
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
21
30
+ 42.9%
157
199
+ 26.8%
New Listings
32
61
+ 90.6%
317
394
+ 24.3%
Closed Sales
17
35
+ 105.9%
139
160
+ 15.1%
Closed Sales
47
57
+ 21.3%
278
291
+ 4.7%
Median Sales Price*
$188,000
$168,000
- 10.6%
$195,000
$204,250
+ 4.7%
Median Sales Price*
$175,000
$215,000
+ 22.9%
$181,500
$210,000
+ 15.7%
Average Sales Price*
$182,397
$213,041
+ 16.8%
$196,343
$217,005
+ 10.5%
Average Sales Price*
$178,289
$216,294
+ 21.3%
$184,276
$210,358
+ 14.2%
97.5%
96.4%
- 1.1%
96.6%
96.8%
+ 0.2%
Percent of Original List Price Received*
97.2%
97.9%
+ 0.7%
97.7%
97.4%
- 0.3%
Days on Market Until Sale
49
38
- 22.4%
50
43
- 14.0%
Days on Market Until Sale
47
42
- 10.6%
38
44
+ 15.8%
Inventory of Homes for Sale
48
46
- 4.2%
--
--
--
Inventory of Homes for Sale
71
92
+ 29.6%
--
--
--
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
* 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
$220,000
All MLS — West Ashley Area —
$320,000
All MLS — West Ashley Area —
$220,000
$300,000
$200,000
$350,000
Townhouse-Condo Attached
Single-Family Detached All MLS — James Island —
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 August 9, 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 August 9, 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