JUNE 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 – June 2019
Local Market Update – June 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 June
Single-Family Detached
Year to Date
June
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
24
24
0.0%
216
258
+ 19.4%
New Listings
24
31
+ 29.2%
147
152
+ 3.4%
Closed Sales
28
24
- 14.3%
126
93
- 26.2%
Closed Sales
18
11
- 38.9%
99
108
+ 9.1%
Median Sales Price*
$1,083,025
$1,104,000
+ 1.9%
$912,500
$1,043,000
+ 14.3%
Median Sales Price*
$449,950
$435,000
- 3.3%
$505,500
$449,500
- 11.1%
Average Sales Price*
$1,528,289
$1,036,073
- 32.2%
$1,240,852
$1,432,292
+ 15.4%
Average Sales Price*
$460,744
$467,273
+ 1.4%
$509,944
$482,655
- 5.4%
92.9%
88.3%
- 5.0%
92.1%
90.8%
- 1.4%
Percent of Original List Price Received*
91.4%
90.2%
- 1.3%
93.7%
91.2%
- 2.7%
Days on Market Until Sale
76
77
+ 1.3%
97
84
- 13.4%
Days on Market Until Sale
59
59
0.0%
56
70
+ 25.0%
Inventory of Homes for Sale
155
204
+ 31.6%
--
--
--
Inventory of Homes for Sale
74
64
- 13.5%
--
--
--
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
June
Year to Date
June
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
31
+ 29.2%
240
251
+ 4.6%
New Listings
6
3
- 50.0%
30
18
- 40.0%
Closed Sales
19
22
+ 15.8%
104
88
- 15.4%
Closed Sales
4
2
- 50.0%
15
10
- 33.3%
Median Sales Price*
$565,000
$533,250
- 5.6%
$555,000
$648,750
+ 16.9%
Median Sales Price*
$543,500
$635,000
+ 16.8%
$497,999
$285,675
- 42.6%
Average Sales Price*
$681,374
$582,864
- 14.5%
$711,242
$751,367
+ 5.6%
Average Sales Price*
$490,500
$635,000
+ 29.5%
$494,503
$371,385
- 24.9%
93.1%
91.3%
- 1.9%
94.2%
92.1%
- 2.2%
Percent of Original List Price Received*
85.5%
92.7%
+ 8.4%
95.2%
91.4%
- 4.0%
Days on Market Until Sale
108
85
- 21.3%
95
92
- 3.2%
Days on Market Until Sale
74
21
- 71.6%
57
91
+ 59.6%
Inventory of Homes for Sale
153
191
+ 24.8%
--
--
--
Inventory of Homes for Sale
15
12
- 20.0%
--
--
--
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 July 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 July 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 – June 2019
Local Market Update – June 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 June
Single-Family Detached
Year to Date
June
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
100
107
+ 7.0%
651
700
+ 7.5%
New Listings
144
141
- 2.1%
843
910
+ 7.9%
Closed Sales
92
100
+ 8.7%
455
425
- 6.6%
Closed Sales
113
131
+ 15.9%
495
544
+ 9.9%
Median Sales Price*
$701,000
$595,279
- 15.1%
$571,000
$575,000
+ 0.7%
Median Sales Price*
$515,000
$510,000
- 1.0%
$515,735
$510,133
- 1.1%
Average Sales Price*
$819,885
$746,331
- 9.0%
$676,854
$712,435
+ 5.3%
Average Sales Price*
$550,715
$559,611
+ 1.6%
$563,442
$566,249
+ 0.5%
95.9%
95.7%
- 0.2%
95.7%
94.4%
- 1.4%
Percent of Original List Price Received*
96.6%
96.6%
0.0%
96.5%
96.6%
+ 0.1%
Days on Market Until Sale
51
44
- 13.7%
51
61
+ 19.6%
Days on Market Until Sale
73
56
- 23.3%
78
68
- 12.8%
Inventory of Homes for Sale
272
304
+ 11.8%
--
--
--
Inventory of Homes for Sale
439
410
- 6.6%
--
--
--
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.
* 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
June
Year to Date
June
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
39
+ 25.8%
246
236
- 4.1%
New Listings
39
37
- 5.1%
257
261
+ 1.6%
Closed Sales
41
37
- 9.8%
190
161
- 15.3%
Closed Sales
31
39
+ 25.8%
172
169
- 1.7%
Median Sales Price*
$240,000
$240,000
0.0%
$239,600
$249,900
+ 4.3%
Median Sales Price*
$238,000
$305,000
+ 28.2%
$287,500
$305,000
+ 6.1%
Average Sales Price*
$370,995
$320,380
- 13.6%
$332,538
$361,996
+ 8.9%
Average Sales Price*
$258,332
$288,967
+ 11.9%
$292,639
$292,741
+ 0.0%
97.2%
94.5%
- 2.8%
96.9%
95.2%
- 1.8%
Percent of Original List Price Received*
96.9%
96.3%
- 0.6%
97.7%
96.5%
- 1.2%
Days on Market Until Sale
40
51
+ 27.5%
45
57
+ 26.7%
Days on Market Until Sale
44
83
+ 88.6%
51
58
+ 13.7%
Inventory of Homes for Sale
68
94
+ 38.2%
--
--
--
Inventory of Homes for Sale
91
113
+ 24.2%
--
--
--
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 July 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 July 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 – June 2019
Local Market Update – June 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 June
Single-Family Detached
Year to Date
June
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
20
33
+ 65.0%
154
197
+ 27.9%
New Listings
7
6
- 14.3%
58
40
- 31.0%
Closed Sales
15
19
+ 26.7%
107
97
- 9.3%
Closed Sales
10
5
- 50.0%
35
22
- 37.1%
Median Sales Price*
$832,200
$975,000
+ 17.2%
$975,000
$1,062,500
+ 9.0%
Median Sales Price*
$1,790,544
$1,575,000
- 12.0%
$1,912,500
$2,050,000
+ 7.2%
Average Sales Price*
$1,085,380
$1,200,272
+ 10.6%
$1,297,807
$1,402,510
+ 8.1%
Average Sales Price*
$2,082,269
$1,750,000
- 16.0%
$2,125,637
$2,125,631
- 0.0%
91.5%
93.4%
+ 2.1%
91.7%
92.3%
+ 0.7%
Percent of Original List Price Received*
95.5%
84.9%
- 11.1%
94.5%
87.5%
- 7.4%
Days on Market Until Sale
127
81
- 36.2%
118
95
- 19.5%
Days on Market Until Sale
37
151
+ 308.1%
80
98
+ 22.5%
Inventory of Homes for Sale
124
155
+ 25.0%
--
--
--
Inventory of Homes for Sale
29
30
+ 3.4%
--
--
--
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
June
Year to Date
June
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
8
9
+ 12.5%
77
81
+ 5.2%
New Listings
0
0
--
6
1
- 83.3%
Closed Sales
9
5
- 44.4%
57
39
- 31.6%
Closed Sales
0
0
--
2
1
- 50.0%
Median Sales Price*
$595,000
$364,000
- 38.8%
$480,000
$489,000
+ 1.9%
Median Sales Price*
$0
$0
--
$487,500
$1,770,000
+ 263.1%
Average Sales Price*
$612,333
$447,800
- 26.9%
$544,390
$525,571
- 3.5%
Average Sales Price*
$0
$0
--
$487,500
$1,770,000
+ 263.1%
92.4%
95.9%
+ 3.8%
94.1%
95.3%
+ 1.3%
Percent of Original List Price Received*
0.0%
0.0%
--
97.5%
94.4%
- 3.2%
Days on Market Until Sale
124
34
- 72.6%
97
76
- 21.6%
Days on Market Until Sale
0
0
--
13
195
+ 1,400.0%
Inventory of Homes for Sale
65
79
+ 21.5%
--
--
--
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 July 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 July 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 – June 2019
Local Market Update – June 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 June
Single-Family Detached
Year to Date
June
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
84
81
- 3.6%
541
572
+ 5.7%
New Listings
192
160
- 16.7%
1,026
992
- 3.3%
Closed Sales
74
97
+ 31.1%
382
378
- 1.0%
Closed Sales
156
120
- 23.1%
754
652
- 13.5%
Median Sales Price*
$388,250
$357,500
- 7.9%
$370,000
$360,663
- 2.5%
Median Sales Price*
$309,400
$331,429
+ 7.1%
$310,000
$317,000
+ 2.3%
Average Sales Price*
$499,839
$390,554
- 21.9%
$427,870
$450,603
+ 5.3%
Average Sales Price*
$375,836
$352,494
- 6.2%
$349,616
$346,639
- 0.9%
97.9%
96.0%
- 1.9%
97.5%
95.5%
- 2.1%
Percent of Original List Price Received*
96.1%
95.3%
- 0.8%
96.8%
95.5%
- 1.3%
Days on Market Until Sale
27
34
+ 25.9%
37
51
+ 37.8%
Days on Market Until Sale
33
45
+ 36.4%
39
49
+ 25.6%
Inventory of Homes for Sale
201
193
- 4.0%
--
--
--
Inventory of Homes for Sale
340
344
+ 1.2%
--
--
--
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
June
Year to Date
June
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
16
- 33.3%
136
168
+ 23.5%
New Listings
65
54
- 16.9%
285
332
+ 16.5%
Closed Sales
27
28
+ 3.7%
122
124
+ 1.6%
Closed Sales
50
40
- 20.0%
231
234
+ 1.3%
Median Sales Price*
$210,000
$209,950
- 0.0%
$195,000
$209,950
+ 7.7%
Median Sales Price*
$185,000
$206,250
+ 11.5%
$185,000
$209,500
+ 13.2%
Average Sales Price*
$204,512
$214,697
+ 5.0%
$198,287
$217,584
+ 9.7%
Average Sales Price*
$179,940
$209,239
+ 16.3%
$185,494
$208,912
+ 12.6%
98.1%
97.2%
- 0.9%
96.4%
97.0%
+ 0.6%
Percent of Original List Price Received*
98.4%
97.4%
- 1.0%
97.8%
97.3%
- 0.5%
Days on Market Until Sale
40
44
+ 10.0%
50
45
- 10.0%
Days on Market Until Sale
27
41
+ 51.9%
36
44
+ 22.2%
Inventory of Homes for Sale
46
46
0.0%
--
--
--
Inventory of Homes for Sale
72
99
+ 37.5%
--
--
--
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 July 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 July 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
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