MARCH 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
Local Market Update – March 2023
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 44 22 - 50.0%84 62 - 26.2% Closed Sales 33 23 - 30.3%78 43 - 44.9% Median Sales Price* $1,200,000 $1,925,000 + 60.4%$1,062,500 $1,925,000 + 81.2% Average Sales Price* $1,859,394 $1,946,922 + 4.7%$1,580,391 $2,106,028 + 33.3% Percent of Original List Price Received*95.5% 91.7% - 4.0%96.0% 92.0% - 4.2% Days on Market Until Sale 61 53 - 13.1%59 54 - 8.5% Inventory of Homes for Sale 42 46 + 9.5% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 34 28 - 17.6%96 60 - 37.5% Closed Sales 39 13 - 66.7%78 37 - 52.6% Median Sales Price* $660,000 $865,000 + 31.1%$655,000 $682,000 + 4.1% Average Sales Price* $914,074 $787,923 - 13.8%$899,172 $760,473 - 15.4% Percent of Original List Price Received*96.6% 97.9% + 1.3%96.6% 95.7% - 0.9% Days on Market Until Sale 79 17 - 78.5%78 40 - 48.7% Inventory of Homes for Sale 38 56 + 47.4%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown Charleston March 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 March 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 April 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 Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 22 20 - 9.1% 77 46 - 40.3% Closed Sales 22 11 - 50.0%58 31 - 46.6% Median Sales Price* $645,000 $1,300,000 + 101.6%$625,000 $705,000 + 12.8% Average Sales Price* $763,999 $1,121,273 + 46.8%$698,948 $857,532 + 22.7% Percent of Original List Price Received*101.7% 93.5% - 8.1%98.6% 93.0% - 5.7% Days on Market Until Sale 40 50 + 25.0%53 47 - 11.3% Inventory of Homes for Sale 22 21 - 4.5% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 4 8 + 100.0%6 13 + 116.7% Closed Sales 0 4 7 7 0.0% Median Sales Price* $0 $531,000 --$475,000 $450,000 - 5.3% Average Sales Price* $0 $485,500 --$609,286 $451,071 - 26.0% Percent of Original List Price Received*0.0% 98.4% 95.6% 99.3% + 3.9% Days on Market Until Sale 0 43 170 38 - 77.6% Inventory of Homes for Sale 7 6 - 14.3% All MLS — All MLS —
Local Market Update – March 2023
A Research Tool Provided by the Charleston Trident Association of REALTORS®
March 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 March 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 April 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 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
Upper Charleston Peninsula
Single-Family Detached
Local Market Update – March 2023
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 81 62 - 23.5%214 159 - 25.7% Closed Sales 76 51 - 32.9%163 102 - 37.4% Median Sales Price* $900,000 $875,000 - 2.8%$825,000 $877,000 + 6.3% Average Sales Price* $1,145,287 $1,239,141 + 8.2%$1,151,976 $1,197,545 + 4.0% Percent of Original List Price Received*101.2% 94.4% - 6.7%99.9% 95.2% - 4.7% Days on Market Until Sale 9 40 + 344.4%12 34 + 183.3% Inventory of Homes for Sale 48 64 + 33.3%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 34 26 - 23.5%106 61 - 42.5% Closed Sales 35 18 - 48.6%94 48 - 48.9% Median Sales Price* $342,000 $382,500 + 11.8%$365,000 $375,000 + 2.7% Average Sales Price* $499,654 $420,389 - 15.9%$481,661 $413,581 - 14.1% Percent of Original List Price Received*101.5% 95.7% - 5.7%101.6% 96.0% - 5.5% Days on Market Until Sale 4 24 + 500.0%8 26 + 225.0% Inventory of Homes for Sale 14 16 + 14.3%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
March 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 March 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 April 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 115 114 - 0.9%258 236 - 8.5% Closed Sales 90 76 - 15.6%197 166 - 15.7% Median Sales Price* $782,500 $789,500 + 0.9%$758,176 $783,750 + 3.4% Average Sales Price* $861,345 $896,674 + 4.1%$847,341 $915,960 + 8.1% Percent of Original List Price Received*102.4% 95.8% - 6.4%101.5% 94.8% - 6.6% Days on Market Until Sale 15 48 + 220.0%17 49 + 188.2% Inventory of Homes for Sale 65 82 + 26.2%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 35 26 - 25.7%89 63 - 29.2% Closed Sales 26 16 - 38.5%76 48 - 36.8% Median Sales Price* $383,000 $505,000 + 31.9%$345,000 $492,450 + 42.7% Average Sales Price* $421,662 $482,221 + 14.4%$374,027 $473,491 + 26.6% Percent of Original List Price Received*103.8% 98.9% - 4.7%103.2% 97.3% - 5.7% Days on Market Until Sale 4 21 + 425.0%16 33 + 106.3% Inventory of Homes for Sale 16 20 + 25.0%-All MLS — All MLS —
Local Market Update – March 2023
Lower Mount Pleasant
A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Mount Pleasant March 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 March 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 Upper Mount Pleasant — Upper Mount Pleasant — Current as of April 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 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
Townhouse-Condo
Local Market Update – March 2023
Isle of Palms
Single-Family Detached
Local Market Update – March 2023
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 26 18 - 30.8%64 39 - 39.1% Closed Sales 15 10 - 33.3%46 23 - 50.0% Median Sales Price* $2,595,000 $2,450,000 - 5.6%$1,712,500 $1,890,000 + 10.4% Average Sales Price* $2,636,067 $2,802,000 + 6.3%$2,024,642 $2,411,391 + 19.1% Percent of Original List Price Received*97.2% 90.4% - 7.0%97.8% 90.7% - 7.3% Days on Market Until Sale 34 75 + 120.6%23 80 + 247.8% Inventory of Homes for Sale 28 34 + 21.4%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 20 14 - 30.0%33 28 - 15.2% Closed Sales 10 12 + 20.0%22 19 - 13.6% Median Sales Price* $925,500 $1,037,500 + 12.1%$803,000 $1,000,000 + 24.5% Average Sales Price* $936,490 $1,165,667 + 24.5%$922,995 $1,132,474 + 22.7% Percent of Original List Price Received*98.0% 96.1% - 1.9%96.7% 96.1% - 0.6% Days on Market Until Sale 89 46 - 48.3%65 35 - 46.2% Inventory of Homes for Sale 12 12 0.0% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
March 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 March 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 April 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 6 9 + 50.0%17 15 - 11.8% Closed Sales 7 8 + 14.3%11 11 0.0% Median Sales Price* $5,495,000 $5,050,000 - 8.1%$4,177,125 $5,295,000 + 26.8% Average Sales Price* $5,316,732 $5,898,125 + 10.9%$4,364,102 $5,807,273 + 33.1% Percent of Original List Price Received*98.4% 92.6% - 5.9%94.5% 93.2% - 1.4% Days on Market Until Sale 26 96 + 269.2%32 101 + 215.6% Inventory of Homes for Sale 8 15 + 87.5%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 0 0 0 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 March 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 March 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 April 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
Townhouse-Condo
Local Market Update – March 2023
James Island
Single-Family Detached
Local Market Update – March 2023
West Ashley Area
Townhouse-Condo
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 89 54 - 39.3%185 127 - 31.4% Closed Sales 63 47 - 25.4%149 97 - 34.9% Median Sales Price* $513,000 $600,000 + 17.0%$519,000 $553,500 + 6.6% Average Sales Price* $556,971 $783,953 + 40.8%$559,212 $702,136 + 25.6% Percent of Original List Price Received*101.8% 97.4% - 4.3%101.0% 95.7% - 5.2% Days on Market Until Sale 10 39 + 290.0%18 38 + 111.1% Inventory of Homes for Sale 35 38 + 8.6% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 23 15 - 34.8%66 39 - 40.9% Closed Sales 24 18 - 25.0%53 37 - 30.2% Median Sales Price* $284,950 $307,750 + 8.0%$265,000 $304,000 + 14.7% Average Sales Price* $314,684 $379,306 + 20.5%$282,093 $351,446 + 24.6% Percent of Original List Price Received*102.4% 103.9% + 1.5%101.1% 100.1% - 1.0% Days on Market Until Sale 9 3 - 66.7%17 14 - 17.6% Inventory of Homes for Sale 2 6 + 200.0%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
March 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 March 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 April 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
Attached Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 130 135 + 3.8%387 325 - 16.0% Closed Sales 133 94 - 29.3%341 218 - 36.1% Median Sales Price* $450,000 $487,000 + 8.2%$410,000 $462,500 + 12.8% Average Sales Price* $499,530 $541,053 + 8.3%$459,392 $513,816 + 11.8% Percent of Original List Price Received*101.7% 97.1% - 4.5%99.9% 96.1% - 3.8% Days on Market Until Sale 12 25 + 108.3%17 33 + 94.1% Inventory of Homes for Sale 71 84 + 18.3%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 45 42 - 6.7%110 89 - 19.1% Closed Sales 42 27 - 35.7%108 60 - 44.4% Median Sales Price* $340,501 $330,000 - 3.1%$323,658 $329,200 + 1.7% Average Sales Price* $313,662 $311,656 - 0.6%$306,787 $330,497 + 7.7% Percent of Original List Price Received*102.3% 97.0% - 5.2%101.6% 96.7% - 4.8% Days on Market Until Sale 18 37 + 105.6%13 31 + 138.5% Inventory of Homes for Sale 13 18 + 38.5%-All MLS — All MLS —
Townhouse-Condo
A Research Tool Provided by the Charleston Trident Association of REALTORS®
March 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 March 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 West Ashley Area — West Ashley Area — Current as of April 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