MAY 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 – May 2020
Local Market Update – May 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 May
Single-Family Detached
Year to Date
May
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
48
47
- 2.1%
233
177
- 24.0%
New Listings
28
35
+ 25.0%
121
131
+ 8.3%
Closed Sales
16
5
- 68.8%
69
74
+ 7.2%
Closed Sales
17
11
- 35.3%
97
69
- 28.9%
Median Sales Price*
$667,500
$865,000
+ 29.6%
$875,000
$930,000
+ 6.3%
Median Sales Price*
$490,000
$509,900
+ 4.1%
$450,000
$550,000
+ 22.2%
Average Sales Price*
$1,149,492
$1,173,068
+ 2.1%
$1,570,143
$1,141,324
- 27.3%
Average Sales Price*
$526,200
$533,466
+ 1.4%
$484,400
$601,334
+ 24.1%
93.6%
94.2%
+ 0.6%
91.7%
89.5%
- 2.4%
Percent of Original List Price Received*
95.0%
96.8%
+ 1.9%
91.4%
93.2%
+ 2.0%
Days on Market Until Sale
92
102
+ 10.9%
86
118
+ 37.2%
Days on Market Until Sale
24
40
+ 66.7%
71
65
- 8.5%
Inventory of Homes for Sale
242
184
- 24.0%
--
--
--
Inventory of Homes for Sale
77
83
+ 7.8%
--
--
--
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
May
Year to Date
May
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
44
- 12.0%
220
184
- 16.4%
New Listings
5
1
- 80.0%
15
12
- 20.0%
Closed Sales
12
10
- 16.7%
66
69
+ 4.5%
Closed Sales
3
2
- 33.3%
8
10
+ 25.0%
Median Sales Price*
$685,500
$508,750
- 25.8%
$690,000
$598,000
- 13.3%
Median Sales Price*
$303,000
$423,750
+ 39.9%
$285,675
$283,500
- 0.8%
Average Sales Price*
$721,529
$548,800
- 23.9%
$807,534
$927,771
+ 14.9%
Average Sales Price*
$301,833
$423,750
+ 40.4%
$305,481
$385,050
+ 26.0%
88.0%
93.7%
+ 6.5%
92.4%
91.2%
- 1.3%
88.5%
93.4%
+ 5.5%
91.1%
95.7%
+ 5.0%
Days on Market Until Sale
149
161
+ 8.1%
95
146
+ 53.7%
Days on Market Until Sale
173
90
- 48.0%
109
62
- 43.1%
Inventory of Homes for Sale
214
193
- 9.8%
--
--
--
Inventory of Homes for Sale
12
11
- 8.3%
--
--
--
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 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 June 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 June 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 – May 2020
Local Market Update – May 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 May
Single-Family Detached
Year to Date
May
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
153
99
- 35.3%
593
467
- 21.2%
New Listings
170
132
- 22.4%
770
591
- 23.2%
Closed Sales
85
73
- 14.1%
325
310
- 4.6%
Closed Sales
135
95
- 29.6%
414
426
+ 2.9%
Median Sales Price*
$535,000
$565,000
+ 5.6%
$570,000
$585,000
+ 2.6%
Median Sales Price*
$499,000
$536,790
+ 7.6%
$510,988
$532,453
+ 4.2%
Average Sales Price*
$670,510
$656,238
- 2.1%
$702,006
$673,544
- 4.1%
Average Sales Price*
$553,766
$610,588
+ 10.3%
$568,287
$584,552
+ 2.9%
94.5%
96.2%
+ 1.8%
94.0%
95.0%
+ 1.1%
Percent of Original List Price Received*
96.9%
97.6%
+ 0.7%
96.7%
97.0%
+ 0.3%
Days on Market Until Sale
57
44
- 22.8%
67
63
- 6.0%
Days on Market Until Sale
73
49
- 32.9%
72
67
- 6.9%
Inventory of Homes for Sale
306
231
- 24.5%
--
--
--
Inventory of Homes for Sale
457
273
- 40.3%
--
--
--
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
May
Year to Date
May
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
46
40
- 13.0%
197
203
+ 3.0%
New Listings
41
46
+ 12.2%
224
193
- 13.8%
Closed Sales
27
23
- 14.8%
124
119
- 4.0%
Closed Sales
27
19
- 29.6%
130
109
- 16.2%
Median Sales Price*
$279,900
$228,000
- 18.5%
$255,000
$245,000
- 3.9%
Median Sales Price*
$258,000
$327,000
+ 26.7%
$301,250
$310,000
+ 2.9%
Average Sales Price*
$385,107
$298,409
- 22.5%
$374,413
$298,368
- 20.3%
Average Sales Price*
$290,946
$321,040
+ 10.3%
$293,873
$310,349
+ 5.6%
95.2%
95.8%
+ 0.6%
95.5%
95.9%
+ 0.4%
Percent of Original List Price Received*
97.2%
96.3%
- 0.9%
96.6%
97.0%
+ 0.4%
Days on Market Until Sale
61
40
- 34.4%
58
57
- 1.7%
Days on Market Until Sale
58
69
+ 19.0%
51
74
+ 45.1%
Inventory of Homes for Sale
101
83
- 17.8%
--
--
--
Inventory of Homes for Sale
122
94
- 23.0%
--
--
--
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 1-2010
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 June 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 June 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 – May 2020
Local Market Update – May 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 May
Single-Family Detached
Year to Date
May
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
31
37
+ 19.4%
164
125
- 23.8%
New Listings
11
5
- 54.5%
34
25
- 26.5%
Closed Sales
22
11
- 50.0%
78
56
- 28.2%
Closed Sales
5
6
+ 20.0%
17
17
0.0%
Median Sales Price*
$1,015,500
$865,000
- 14.8%
$1,160,000
$1,030,000
- 11.2%
Median Sales Price*
$2,500,000
$2,625,000
+ 5.0%
$2,135,000
$2,600,000
+ 21.8%
Average Sales Price*
$1,239,705
$1,168,136
- 5.8%
$1,451,773
$1,242,813
- 14.4%
Average Sales Price*
$2,567,000
$2,400,000
- 6.5%
$2,236,110
$2,307,500
+ 3.2%
91.1%
90.7%
- 0.4%
92.1%
90.9%
- 1.3%
Percent of Original List Price Received*
94.8%
84.7%
- 10.7%
88.3%
89.7%
+ 1.6%
Days on Market Until Sale
93
195
+ 109.7%
98
128
+ 30.6%
Days on Market Until Sale
54
142
+ 163.0%
83
93
+ 12.0%
Inventory of Homes for Sale
160
116
- 27.5%
--
--
--
Inventory of Homes for Sale
35
17
- 51.4%
--
--
--
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
May
Year to Date
May
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
15
13
- 13.3%
72
64
- 11.1%
New Listings
0
1
--
1
2
+ 100.0%
Closed Sales
9
6
- 33.3%
34
35
+ 2.9%
Closed Sales
0
0
--
1
2
+ 100.0%
Median Sales Price*
$475,000
$521,250
+ 9.7%
$491,750
$612,000
+ 24.5%
Median Sales Price*
$0
$0
--
$1,770,000
$1,625,000
- 8.2%
Average Sales Price*
$458,889
$546,750
+ 19.1%
$537,007
$669,484
+ 24.7%
Average Sales Price*
$0
$0
--
$1,770,000
$1,625,000
- 8.2%
96.5%
93.2%
- 3.4%
95.3%
92.9%
- 2.5%
0.0%
0.0%
--
94.4%
89.0%
- 5.7%
Days on Market Until Sale
95
102
+ 7.4%
82
108
+ 31.7%
Days on Market Until Sale
0
0
--
195
527
+ 170.3%
Inventory of Homes for Sale
84
76
- 9.5%
--
--
--
Inventory of Homes for Sale
2
1
- 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
Percent of Original List Price Received*
$700,000
$1,000,000
$600,000
$800,000
$500,000
Townhouse-Condo Attached
Single-Family Detached All MLS — Isle of Palms —
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 $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 June 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 June 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 – May 2020
Local Market Update – May 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 May
Single-Family Detached
Year to Date
May
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
120
68
- 43.3%
491
380
- 22.6%
New Listings
187
199
+ 6.4%
835
846
+ 1.3%
Closed Sales
73
46
- 37.0%
283
280
- 1.1%
Closed Sales
140
134
- 4.3%
534
576
+ 7.9%
Median Sales Price*
$385,000
$350,000
- 9.1%
$364,900
$369,700
+ 1.3%
Median Sales Price*
$311,250
$297,940
- 4.3%
$312,115
$313,450
+ 0.4%
Average Sales Price*
$461,473
$425,605
- 7.8%
$473,704
$438,313
- 7.5%
Average Sales Price*
$336,868
$335,818
- 0.3%
$344,970
$345,974
+ 0.3%
96.5%
95.2%
- 1.3%
95.3%
95.6%
+ 0.3%
Percent of Original List Price Received*
95.4%
97.1%
+ 1.8%
95.5%
96.3%
+ 0.8%
Days on Market Until Sale
45
58
+ 28.9%
57
49
- 14.0%
Days on Market Until Sale
42
36
- 14.3%
50
47
- 6.0%
Inventory of Homes for Sale
231
115
- 50.2%
--
--
--
Inventory of Homes for Sale
392
231
- 41.1%
--
--
--
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
May
Year to Date
May
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
35
22
- 37.1%
152
118
- 22.4%
New Listings
50
48
- 4.0%
279
234
- 16.1%
Closed Sales
30
18
- 40.0%
96
77
- 19.8%
Closed Sales
60
29
- 51.7%
194
184
- 5.2%
Median Sales Price*
$231,500
$202,500
- 12.5%
$209,000
$207,500
- 0.7%
Median Sales Price*
$195,000
$263,000
+ 34.9%
$214,500
$226,000
+ 5.4%
Average Sales Price*
$226,749
$196,361
- 13.4%
$218,426
$201,591
- 7.7%
Average Sales Price*
$201,368
$244,333
+ 21.3%
$208,674
$221,216
+ 6.0%
98.1%
96.7%
- 1.4%
96.9%
96.1%
- 0.8%
Percent of Original List Price Received*
97.8%
98.0%
+ 0.2%
97.2%
96.6%
- 0.6%
Days on Market Until Sale
48
62
+ 29.2%
46
45
- 2.2%
Days on Market Until Sale
41
40
- 2.4%
45
57
+ 26.7%
Inventory of Homes for Sale
62
42
- 32.3%
--
--
--
Inventory of Homes for Sale
123
63
- 48.8%
--
--
--
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.
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
$350,000 $200,000 $300,000
$325,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — West Ashley Area —
$240,000
$300,000
$220,000
$275,000
$200,000
$250,000
$180,000
$225,000
$160,000
$200,000
$140,000
$180,000 $160,000
$250,000
$140,000 $200,000 $120,000 $150,000 1-2010
All MLS — West Ashley Area —
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 June 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 June 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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