June 2023 Real Estate Report | The Cassina Group

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JUNE 2023 REAL ESTATE REPORT

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.

Single-Family Detached

Market Update – June 2023

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 31 16 - 48.4%176 124 - 29.5% Closed Sales 24 13 - 45.8%160 88 - 45.0% Median Sales Price* $1,477,500 $907,500 - 38.6%$1,250,000 $1,390,000 + 11.2% Average Sales Price* $1,751,598 $1,234,538 - 29.5%$1,704,023 $2,118,332 + 24.3% Percent of Original List Price Received*96.3% 95.3% - 1.0%96.7% 94.0% - 2.8% Days on Market Until Sale 28 65 + 132.1%51 50 - 2.0% Inventory of Homes for Sale 53 47 - 11.3% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 33 17 - 48.5%194 126 - 35.1% Closed Sales 25 14 - 44.0%177 91 - 48.6% Median Sales Price* $649,990 $538,250 - 17.2%$655,000 $715,000 + 9.2% Average Sales Price* $816,734 $620,957 - 24.0%$900,705 $787,540 - 12.6% Percent of Original List Price Received*100.5% 94.6% - 5.9%97.9% 95.5% - 2.5% Days on Market Until Sale 56 50 - 10.7%60 39 - 35.0% Inventory of Homes for Sale 48 46 - 4.2% All MLS — All MLS —
– June 2023 A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown Charleston June 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 June 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 Downtown Charleston — Downtown Charleston — Current as of July 7, 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
Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 31 18 - 41.9%154 98 - 36.4% Closed Sales 20 10 - 50.0%118 74 - 37.3% Median Sales Price* $659,500 $822,500 + 24.7%$650,000 $757,500 + 16.5% Average Sales Price* $761,778 $760,000 - 0.2%$750,618 $856,358 + 14.1% Percent of Original List Price Received*96.1% 104.7% + 8.9%98.8% 96.6% - 2.2% Days on Market Until Sale 23 11 - 52.2%35 31 - 11.4% Inventory of Homes for Sale 38 21 - 44.7% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 1 2 + 100.0%21 17 - 19.0% Closed Sales 4 5 + 25.0%21 17 - 19.0% Median Sales Price* $382,000 $825,000 + 116.0%$377,000 $530,000 + 40.6% Average Sales Price* $370,250 $817,000 + 120.7%$467,043 $593,353 + 27.0% Percent of Original List Price Received*95.6% 117.4% + 22.8%96.3% 104.1% + 8.1% Days on Market Until Sale 7 27 + 285.7%76 28 - 63.2% Inventory of Homes for Sale 4 0 - 100.0%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
Charleston
June 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 June 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 July 7, 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
Local Market Update
Townhouse-Condo
Single-Family
Local
Upper
Peninsula

Single-Family Detached

Local Market Update – June 2023

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 107 59 - 44.9%493 348 - 29.4% Closed Sales 82 47 - 42.7%395 247 - 37.5% Median Sales Price* $1,065,000 $929,000 - 12.8%$900,000 $900,000 0.0% Average Sales Price* $1,265,000 $1,353,319 + 7.0%$1,183,434 $1,289,991 + 9.0% Percent of Original List Price Received*100.7% 95.9% - 4.8%101.0% 96.1% - 4.9% Days on Market Until Sale 7 27 + 285.7%10 26 + 160.0% Inventory of Homes for Sale 88 74 - 15.9% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 43 31 - 27.9%227 160 - 29.5% Closed Sales 35 32 - 8.6%198 128 - 35.4% Median Sales Price* $435,000 $381,250 - 12.4%$386,250 $398,775 + 3.2% Average Sales Price* $607,086 $467,616 - 23.0%$519,433 $496,517 - 4.4% Percent of Original List Price Received*100.7% 99.4% - 1.3%101.8% 98.0% - 3.7% Days on Market Until Sale 11 8 - 27.3% 9 20 + 122.2% Inventory of Homes for Sale 33 21 - 36.4% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
June 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 June 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 July 7, 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 138 127 - 8.0%642 561 - 12.6% Closed Sales 118 105 - 11.0%505 421 - 16.6% Median Sales Price* $852,500 $935,000 + 9.7%$810,500 $872,631 + 7.7% Average Sales Price* $1,007,868 $1,038,667 + 3.1%$912,625 $976,171 + 7.0% Percent of Original List Price Received*100.9% 98.7% - 2.2%101.4% 97.3% - 4.0% Days on Market Until Sale 8 21 + 162.5%12 36 + 200.0% Inventory of Homes for Sale 147 124 - 15.6% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 48 28 - 41.7%200 139 - 30.5% Closed Sales 28 31 + 10.7%169 132 - 21.9% Median Sales Price* $457,500 $538,000 + 17.6%$420,000 $517,500 + 23.2% Average Sales Price* $455,829 $542,415 + 19.0%$422,551 $504,518 + 19.4% Percent of Original List Price Received*100.4% 99.1% - 1.3%102.3% 98.2% - 4.0% Days on Market Until Sale 8 18 + 125.0%12 26 + 116.7% Inventory of Homes for Sale 28 11 - 60.7% All MLS — All MLS —
Local Market Update – June 2023
Lower Mount Pleasant
A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Mount Pleasant June 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 June 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 July 7, 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 – June 2023

Isle of Palms

Single-Family Detached

Local Market Update – June 2023

Townhouse-Condo Attached

Townhouse-Condo

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 25 18 - 28.0%134 98 - 26.9% Closed Sales 14 15 + 7.1%102 63 - 38.2% Median Sales Price* $2,475,000 $1,625,000 - 34.3%$1,987,500 $2,150,000 + 8.2% Average Sales Price* $2,907,971 $2,419,667 - 16.8%$2,257,101 $2,772,810 + 22.8% Percent of Original List Price Received*97.2% 95.9% - 1.3%98.3% 92.6% - 5.8% Days on Market Until Sale 47 34 - 27.7%25 65 + 160.0% Inventory of Homes for Sale 47 49 + 4.3% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 16 8 - 50.0%76 62 - 18.4% Closed Sales 10 11 + 10.0%50 52 + 4.0% Median Sales Price* $859,250 $830,000 - 3.4%$863,000 $860,000 - 0.3% Average Sales Price* $996,350 $947,727 - 4.9%$976,838 $1,008,413 + 3.2% Percent of Original List Price Received*99.2% 97.8% - 1.4%99.0% 96.5% - 2.5% Days on Market Until Sale 16 9 - 43.8%36 30 - 16.7% Inventory of Homes for Sale 28 10 - 64.3% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
June 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 June 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
Isle of Palms — Isle of Palms — Current as of July 7, 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 4 4 0.0% 30 32 + 6.7% Closed Sales 2 4 + 100.0%21 25 + 19.0% Median Sales Price* $6,275,000 $3,541,500 - 43.6%$3,800,000 $4,700,000 + 23.7% Average Sales Price* $6,275,000 $3,522,000 - 43.9%$4,196,387 $4,739,480 + 12.9% Percent of Original List Price Received*100.0% 95.8% - 4.2%94.7% 95.3% + 0.6% Days on Market Until Sale 10 18 + 80.0%34 64 + 88.2% Inventory of Homes for Sale 8 12 + 50.0%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 0 0 2 0 - 100.0% Closed Sales 0 0 2 1 - 50.0% Median Sales Price* $0 $0 --$1,812,500 $1,375,000 - 24.1% Average Sales Price* $0 $0 --$1,812,500 $1,375,000 - 24.1% Percent of Original List Price Received*0.0% 0.0% 86.9% 98.2% + 13.0% Days on Market Until Sale 0 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 Island June 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 June 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 Sullivan's Island — Sullivan's Island — Current as of July 7, 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

James Island

Single-Family Detached

Local Market Update – June 2023

West Ashley Area

Townhouse-Condo Attached

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 64 46 - 28.1%387 278 - 28.2% Closed Sales 52 57 + 9.6%328 248 - 24.4% Median Sales Price* $617,500 $613,414 - 0.7%$563,750 $587,000 + 4.1% Average Sales Price* $632,922 $733,951 + 16.0%$625,275 $693,154 + 10.9% Percent of Original List Price Received*100.4% 96.9% - 3.5%101.4% 96.8% - 4.5% Days on Market Until Sale 7 18 + 157.1%13 28 + 115.4% Inventory of Homes for Sale 58 29 - 50.0% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 29 21 - 27.6%153 94 - 38.6% Closed Sales 20 18 - 10.0%138 81 - 41.3% Median Sales Price* $330,000 $275,000 - 16.7%$284,950 $304,000 + 6.7% Average Sales Price* $336,150 $308,194 - 8.3%$304,928 $335,110 + 9.9% Percent of Original List Price Received*104.4% 100.9% - 3.4%102.6% 100.3% - 2.2% Days on Market Until Sale 3 3 0.0% 9 9 0.0% Inventory of Homes for Sale 14 11 - 21.4% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
Local Market Update – June 2023
June 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 June 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 July 7, 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 160 105 - 34.4%861 647 - 24.9% Closed Sales 148 105 - 29.1%757 554 - 26.8% Median Sales Price* $462,000 $519,000 + 12.3%$439,500 $478,988 + 9.0% Average Sales Price* $500,507 $573,867 + 14.7%$497,052 $533,111 + 7.3% Percent of Original List Price Received*101.6% 99.5% - 2.1%101.3% 97.7% - 3.6% Days on Market Until Sale 9 16 + 77.8%14 25 + 78.6% Inventory of Homes for Sale 137 88 - 35.8% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 47 32 - 31.9%253 194 - 23.3% Closed Sales 45 40 - 11.1%249 158 - 36.5% Median Sales Price* $306,000 $300,500 - 1.8%$325,000 $311,000 - 4.3% Average Sales Price* $302,556 $338,563 + 11.9%$309,514 $329,081 + 6.3% Percent of Original List Price Received*103.8% 99.5% - 4.1%102.6% 98.6% - 3.9% Days on Market Until Sale 3 10 + 233.3%12 18 + 50.0% Inventory of Homes for Sale 25 22 - 12.0% All MLS — All MLS —
Townhouse-Condo
A Research Tool Provided by the Charleston Trident Association of REALTORS®
June 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 June 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
West Ashley Area — West Ashley Area — Current as of July 7, 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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