MARCH 2020
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 – March 2020
Local Market Update – March 2020
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 March
Single-Family Detached
Year to Date
March
Single-Family Detached
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
50
34
- 32.0%
138
107
- 22.5%
New Listings
26
30
+ 15.4%
67
76
+ 13.4%
Closed Sales
19
22
+ 15.8%
37
49
+ 32.4%
Closed Sales
23
16
- 30.4%
53
43
- 18.9%
Median Sales Price*
$1,750,000
$1,130,000
- 35.4%
$1,300,000
$765,000
- 41.2%
Median Sales Price*
$502,500
$605,000
+ 20.4%
$450,000
$510,000
+ 13.3%
Average Sales Price*
$2,599,868
$1,166,227
- 55.1%
$1,933,919
$997,659
- 48.4%
Average Sales Price*
$560,239
$717,875
+ 28.1%
$477,538
$616,731
+ 29.1%
91.7%
88.4%
- 3.6%
91.9%
88.5%
- 3.7%
Percent of Original List Price Received*
91.8%
92.3%
+ 0.5%
90.4%
91.8%
+ 1.5%
Days on Market Until Sale
118
132
+ 11.9%
97
128
+ 32.0%
Days on Market Until Sale
77
84
+ 9.1%
88
79
- 10.2%
Inventory of Homes for Sale
227
165
- 27.3%
--
--
--
Inventory of Homes for Sale
65
74
+ 13.8%
--
--
--
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
March
Year to Date
March
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
59
44
- 25.4%
125
115
- 8.0%
New Listings
2
1
- 50.0%
8
9
+ 12.5%
Closed Sales
19
15
- 21.1%
40
45
+ 12.5%
Closed Sales
2
2
0.0%
3
5
+ 66.7%
Median Sales Price*
$575,000
$610,000
+ 6.1%
$799,500
$600,000
- 25.0%
Median Sales Price*
$314,000
$629,750
+ 100.6%
$264,500
$265,000
+ 0.2%
Average Sales Price*
$676,579
$1,426,953
+ 110.9%
$900,888
$1,054,118
+ 17.0%
Average Sales Price*
$314,000
$629,750
+ 100.6%
$297,500
$402,100
+ 35.2%
92.5%
95.6%
+ 3.4%
92.1%
90.8%
- 1.4%
90.4%
96.2%
+ 6.4%
90.2%
97.6%
+ 8.2%
Days on Market Until Sale
75
107
+ 42.7%
93
142
+ 52.7%
Days on Market Until Sale
97
69
- 28.9%
109
66
- 39.4%
Inventory of Homes for Sale
193
178
- 7.8%
--
--
--
Inventory of Homes for Sale
10
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 $1,400,000
* 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 —
$1,200,000
Percent of Original List Price Received*
Single-Family Detached All MLS — Downtown Charleston —
$700,000
$600,000
$600,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —
$500,000
$500,000 $400,000
$1,000,000
$500,000 $400,000
$800,000 $400,000
$300,000
$600,000
$300,000 $300,000
$400,000
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
$200,000
$200,000
$200,000
$200,000 $0 1-2010
All MLS — Upper Charleston Peninsula —
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of April 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of April 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – March 2020
Local Market Update – March 2020
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 March
Single-Family Detached
Year to Date
March
Single-Family Detached
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
139
104
- 25.2%
337
269
- 20.2%
New Listings
149
140
- 6.0%
441
369
- 16.3%
Closed Sales
73
70
- 4.1%
157
174
+ 10.8%
Closed Sales
79
100
+ 26.6%
192
246
+ 28.1%
Median Sales Price*
$540,000
$592,500
+ 9.7%
$590,000
$586,495
- 0.6%
Median Sales Price*
$509,640
$545,000
+ 6.9%
$499,950
$536,500
+ 7.3%
Average Sales Price*
$748,895
$661,991
- 11.6%
$733,671
$679,582
- 7.4%
Average Sales Price*
$540,643
$592,184
+ 9.5%
$546,317
$589,060
+ 7.8%
94.3%
95.4%
+ 1.2%
93.4%
94.2%
+ 0.9%
Percent of Original List Price Received*
96.7%
97.3%
+ 0.6%
96.3%
96.7%
+ 0.4%
Days on Market Until Sale
59
75
+ 27.1%
70
78
+ 11.4%
Days on Market Until Sale
75
69
- 8.0%
72
76
+ 5.6%
Inventory of Homes for Sale
285
225
- 21.1%
--
--
--
Inventory of Homes for Sale
483
295
- 38.9%
--
--
--
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
March
Year to Date
March
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
42
49
+ 16.7%
114
140
+ 22.8%
New Listings
60
37
- 38.3%
142
115
- 19.0%
Closed Sales
28
37
+ 32.1%
68
73
+ 7.4%
Closed Sales
25
32
+ 28.0%
71
64
- 9.9%
Median Sales Price*
$268,500
$250,000
- 6.9%
$266,000
$245,000
- 7.9%
Median Sales Price*
$322,000
$260,000
- 19.3%
$311,670
$286,000
- 8.2%
Average Sales Price*
$379,221
$311,186
- 17.9%
$392,188
$278,664
- 28.9%
Average Sales Price*
$296,477
$283,762
- 4.3%
$298,086
$298,458
+ 0.1%
94.8%
95.5%
+ 0.7%
95.3%
96.1%
+ 0.8%
Percent of Original List Price Received*
97.9%
97.4%
- 0.5%
96.1%
97.2%
+ 1.1%
Days on Market Until Sale
62
66
+ 6.5%
58
62
+ 6.9%
Days on Market Until Sale
49
67
+ 36.7%
55
67
+ 21.8%
Inventory of Homes for Sale
108
95
- 12.0%
--
--
--
Inventory of Homes for Sale
128
94
- 26.6%
--
--
--
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 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$120,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of April 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of April 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – March 2020
Local Market Update – March 2020
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 March
Single-Family Detached
Year to Date
March
Single-Family Detached
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
32
24
- 25.0%
98
81
- 17.3%
New Listings
3
4
+ 33.3%
15
18
+ 20.0%
Closed Sales
22
13
- 40.9%
39
36
- 7.7%
Closed Sales
2
3
+ 50.0%
10
11
+ 10.0%
Median Sales Price*
$1,166,250
$1,050,000
- 10.0%
$1,062,500
$1,067,500
+ 0.5%
Median Sales Price*
$2,030,000
$3,050,000
+ 50.2%
$1,988,438
$2,195,000
+ 10.4%
Average Sales Price*
$1,312,447
$1,152,846
- 12.2%
$1,268,496
$1,268,000
- 0.0%
Average Sales Price*
$2,030,000
$2,545,500
+ 25.4%
$2,109,388
$2,257,045
+ 7.0%
91.8%
91.2%
- 0.7%
92.4%
90.4%
- 2.2%
Percent of Original List Price Received*
77.2%
91.1%
+ 18.0%
85.8%
92.5%
+ 7.8%
Days on Market Until Sale
101
114
+ 12.9%
97
110
+ 13.4%
Days on Market Until Sale
105
66
- 37.1%
71
67
- 5.6%
Inventory of Homes for Sale
152
121
- 20.4%
--
--
--
Inventory of Homes for Sale
28
18
- 35.7%
--
--
--
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
March
Year to Date
March
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
17
20
+ 17.6%
44
46
+ 4.5%
New Listings
0
1
--
1
1
0.0%
Closed Sales
6
5
- 16.7%
12
19
+ 58.3%
Closed Sales
0
1
--
1
2
+ 100.0%
Median Sales Price*
$442,000
$691,100
+ 56.4%
$455,500
$667,000
+ 46.4%
Median Sales Price*
$0
$1,650,000
--
$1,770,000
$1,625,000
- 8.2%
Average Sales Price*
$508,792
$711,620
+ 39.9%
$545,021
$680,128
+ 24.8%
Average Sales Price*
$0
$1,650,000
--
$1,770,000
$1,625,000
- 8.2%
95.8%
90.7%
- 5.3%
93.7%
92.6%
- 1.2%
0.0%
90.4%
--
94.4%
89.0%
- 5.7%
Days on Market Until Sale
55
168
+ 205.5%
82
119
+ 45.1%
Days on Market Until Sale
0
537
--
195
527
+ 170.3%
Inventory of Homes for Sale
81
81
0.0%
--
--
--
Inventory of Homes for Sale
3
2
- 33.3%
--
--
--
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
Percent of Original List Price Received*
Single-Family Detached All MLS — Isle of Palms —
$700,000
$1,000,000
$600,000
$800,000
$500,000
$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 $1,500,000
$600,000
$400,000
$2,000,000 $1,000,000
$400,000
$300,000
$200,000
$200,000
$0 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
$1,000,000
$500,000
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of April 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$0 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$0 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of April 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – March 2020
Local Market Update – March 2020
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 March
Single-Family Detached
Year to Date
March
Single-Family Detached
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
96
76
- 20.8%
264
241
- 8.7%
New Listings
191
180
- 5.8%
479
507
+ 5.8%
Closed Sales
69
75
+ 8.7%
141
176
+ 24.8%
Closed Sales
116
122
+ 5.2%
278
318
+ 14.4%
Median Sales Price*
$375,000
$385,000
+ 2.7%
$366,000
$375,500
+ 2.6%
Median Sales Price*
$289,500
$327,000
+ 13.0%
$305,000
$319,500
+ 4.8%
Average Sales Price*
$441,047
$481,287
+ 9.1%
$480,046
$450,733
- 6.1%
Average Sales Price*
$336,690
$377,315
+ 12.1%
$344,593
$348,699
+ 1.2%
95.9%
96.3%
+ 0.4%
95.3%
95.6%
+ 0.3%
Percent of Original List Price Received*
95.0%
96.3%
+ 1.4%
95.2%
95.8%
+ 0.6%
Days on Market Until Sale
57
47
- 17.5%
62
52
- 16.1%
Days on Market Until Sale
57
55
- 3.5%
54
54
0.0%
Inventory of Homes for Sale
202
140
- 30.7%
--
--
--
Inventory of Homes for Sale
382
274
- 28.3%
--
--
--
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
March
Year to Date
March
Year to Date
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
Key Metrics
2019
2020
Percent Change
2019
2020
Percent Change
New Listings
37
30
- 18.9%
84
77
- 8.3%
New Listings
64
56
- 12.5%
159
149
- 6.3%
Closed Sales
21
14
- 33.3%
46
39
- 15.2%
Closed Sales
40
46
+ 15.0%
99
118
+ 19.2%
Median Sales Price*
$158,000
$220,000
+ 39.2%
$180,500
$217,000
+ 20.2%
Median Sales Price*
$230,000
$217,648
- 5.4%
$233,000
$222,500
- 4.5%
Average Sales Price*
$186,454
$225,857
+ 21.1%
$201,015
$210,662
+ 4.8%
Average Sales Price*
$217,388
$210,974
- 3.0%
$216,532
$215,487
- 0.5%
96.4%
94.6%
- 1.9%
95.9%
94.8%
- 1.1%
Percent of Original List Price Received*
97.0%
96.7%
- 0.3%
96.7%
96.3%
- 0.4%
Days on Market Until Sale
25
48
+ 92.0%
49
45
- 8.2%
Days on Market Until Sale
49
66
+ 34.7%
47
65
+ 38.3%
Inventory of Homes for Sale
67
45
- 32.8%
--
--
--
Inventory of Homes for Sale
108
77
- 28.7%
--
--
--
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 —
$240,000 $220,000
Townhouse-Condo Attached All MLS — West Ashley Area —
$300,000
$350,000 $200,000 $300,000
$325,000
Rolling 12-Month Calculation All MLS — West Ashley Area —
$220,000
$200,000
$275,000 $180,000
$180,000 $250,000 $160,000
$250,000
$160,000 $225,000
$140,000 $200,000
$150,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$100,000 1-2010
$140,000
$200,000
$120,000
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of April 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$175,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
$120,000 1-2010
1-2012
1-2014
1-2016
1-2018
1-2020
Current as of April 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
132 East Bay Street, Charleston, SC 29401 309 Coleman Boulevard, Mount Pleasant, SC 29464
843.628.0008 | TheCassinaGroup.com
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