MAY 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.
Local Market Update – May 2023
Single-Family Detached
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 31 22 - 29.0%145 108 - 25.5% Closed Sales 31 21 - 32.3%136 75 - 44.9% Median Sales Price* $1,400,000 $1,165,000 - 16.8%$1,200,000 $1,839,000 + 53.3% Average Sales Price* $1,876,219 $2,399,333 + 27.9%$1,695,627 $2,271,523 + 34.0% Percent of Original List Price Received*98.5% 95.4% - 3.1%96.8% 93.8% - 3.1% Days on Market Until Sale 64 46 - 28.1%55 48 - 12.7% Inventory of Homes for Sale 49 53 + 8.2% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 28 26 - 7.1%161 109 - 32.3% Closed Sales 36 24 - 33.3%152 77 - 49.3% Median Sales Price* $690,000 $870,000 + 26.1%$665,000 $740,000 + 11.3% Average Sales Price* $897,240 $945,238 + 5.3%$914,516 $817,827 - 10.6% Percent of Original List Price Received*99.4% 93.7% - 5.7%97.5% 95.7% - 1.8% Days on Market Until Sale 26 46 + 76.9%61 37 - 39.3% Inventory of Homes for Sale 41 57 + 39.0%-Downtown Charleston — Downtown Charleston — Current as of June 9, 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. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown Charleston May 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 May 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 $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 24 14 - 41.7%123 80 - 35.0% Closed Sales 22 21 - 4.5% 98 64 - 34.7% Median Sales Price* $662,916 $810,000 + 22.2%$650,000 $745,000 + 14.6% Average Sales Price* $839,606 $964,262 + 14.8%$748,340 $871,414 + 16.4% Percent of Original List Price Received*100.7% 98.0% - 2.7%99.4% 95.3% - 4.1% Days on Market Until Sale 13 26 + 100.0%37 34 - 8.1% Inventory of Homes for Sale 23 22 - 4.3% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 5 2 - 60.0%20 15 - 25.0% Closed Sales 6 0 - 100.0%17 12 - 29.4% Median Sales Price* $400,000 $0 - 100.0%$377,000 $477,500 + 26.7% Average Sales Price* $388,650 $0 - 100.0%$489,818 $500,167 + 2.1% Percent of Original List Price Received*98.2% 0.0% - 100.0%96.5% 98.6% + 2.2% Days on Market Until Sale 25 0 - 100.0%92 28 - 69.6% Inventory of Homes for Sale 6 1 - 83.3% Upper Charleston Peninsula — Upper Charleston Peninsula — Current as of June 9, 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. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Charleston Peninsula May 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 May 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 $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
Local Market Update – May 2023
Local Market Update – May 2023
Single-Family Detached
Local Market Update – May 2023
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 89 68 - 23.6%386 289 - 25.1% Closed Sales 80 62 - 22.5%313 200 - 36.1% Median Sales Price* $912,500 $915,000 + 0.3%$875,000 $888,000 + 1.5% Average Sales Price* $1,149,955 $1,354,779 + 17.8%$1,162,065 $1,275,109 + 9.7% Percent of Original List Price Received*101.4% 97.9% - 3.5%101.0% 96.1% - 4.9% Days on Market Until Sale 9 17 + 88.9%11 26 + 136.4% Inventory of Homes for Sale 58 75 + 29.3%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 48 35 - 27.1%184 129 - 29.9% Closed Sales 38 25 - 34.2%163 96 - 41.1% Median Sales Price* $442,500 $449,000 + 1.5%$379,000 $399,500 + 5.4% Average Sales Price* $527,289 $582,948 + 10.6%$500,611 $506,151 + 1.1% Percent of Original List Price Received*101.3% 100.5% - 0.8%102.0% 97.6% - 4.3% Days on Market Until Sale 11 16 + 45.5% 9 24 + 166.7% Inventory of Homes for Sale 25 24 - 4.0% Lower Mount Pleasant — Lower Mount Pleasant — Current as of June 9, 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. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
May 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 May 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 $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 141 101 - 28.4%504 435 - 13.7% Closed Sales 100 79 - 21.0%387 315 - 18.6% Median Sales Price* $816,750 $860,000 + 5.3%$786,585 $850,000 + 8.1% Average Sales Price* $903,331 $961,628 + 6.5%$883,584 $954,930 + 8.1% Percent of Original List Price Received*101.5% 99.1% - 2.4%101.6% 96.9% - 4.6% Days on Market Until Sale 10 30 + 200.0%13 40 + 207.7% Inventory of Homes for Sale 101 95 - 5.9% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 30 19 - 36.7%152 111 - 27.0% Closed Sales 34 19 - 44.1%141 99 - 29.8% Median Sales Price* $483,808 $561,000 + 16.0%$400,000 $500,000 + 25.0% Average Sales Price* $468,524 $523,077 + 11.6%$415,943 $486,453 + 17.0% Percent of Original List Price Received*102.5% 98.3% - 4.1%102.7% 97.8% - 4.8% Days on Market Until Sale 12 23 + 91.7%12 30 + 150.0% Inventory of Homes for Sale 15 9 - 40.0% Upper Mount Pleasant — Upper Mount Pleasant — Current as of June 9, 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. All MLS — All MLS —
Lower Mount Pleasant
A Research Tool Provided by the Charleston Trident Association of REALTORS®
May 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 May 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 $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
Upper Mount Pleasant
Local Market Update – May 2023
Single-Family Detached
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 22 26 + 18.2%109 80 - 26.6% Closed Sales 21 10 - 52.4%88 48 - 45.5% Median Sales Price* $2,000,000 $2,735,000 + 36.8%$1,887,500 $2,300,000 + 21.9% Average Sales Price* $2,260,810 $3,652,000 + 61.5%$2,153,553 $2,883,167 + 33.9% Percent of Original List Price Received*99.0% 90.1% - 9.0%98.5% 91.5% - 7.1% Days on Market Until Sale 22 95 + 331.8%22 75 + 240.9% Inventory of Homes for Sale 35 37 + 5.7% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 15 10 - 33.3%60 54 - 10.0% Closed Sales 9 15 + 66.7%40 41 + 2.5% Median Sales Price* $880,000 $735,000 - 16.5%$865,500 $880,000 + 1.7% Average Sales Price* $1,053,444 $857,767 - 18.6%$971,960 $1,024,695 + 5.4% Percent of Original List Price Received*99.1% 94.8% - 4.3%98.9% 96.2% - 2.7% Days on Market Until Sale 6 43 + 616.7%41 35 - 14.6% Inventory of Homes for Sale 21 8 - 61.9% Isle of Palms — Isle of Palms — Current as of June 9, 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. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
May 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 May 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 $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 5 6 + 20.0%26 28 + 7.7% Closed Sales 1 7 + 600.0%19 21 + 10.5% Median Sales Price* $2,785,000 $2,886,000 + 3.6%$3,700,000 $4,775,000 + 29.1% Average Sales Price* $2,785,000 $3,395,571 + 21.9%$3,977,586 $4,971,381 + 25.0% Percent of Original List Price Received*87.7% 95.3% + 8.7%94.1% 95.2% + 1.2% Days on Market Until Sale 108 60 - 44.4%36 73 + 102.8% Inventory of Homes for Sale 7 13 + 85.7%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 1 0 - 100.0%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 2 0 - 100.0%-Sullivan's Island — Sullivan's Island — Current as of June 9, 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. All MLS — All MLS —
Isle of Palms
A Research Tool Provided by the Charleston Trident Association of REALTORS® Sullivan's Island May 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 May 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 $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
Local Market Update – May 2023
Local Market Update – May 2023
James Island
Single-Family Detached
Local Market Update – May 2023
West Ashley Area
Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 73 56 - 23.3%323 232 - 28.2% Closed Sales 66 46 - 30.3%276 191 - 30.8% Median Sales Price* $577,500 $610,000 + 5.6%$560,000 $580,000 + 3.6% Average Sales Price* $676,516 $660,685 - 2.3%$623,835 $680,980 + 9.2% Percent of Original List Price Received*103.0% 98.5% - 4.4%101.6% 96.7% - 4.8% Days on Market Until Sale 8 16 + 100.0%14 31 + 121.4% Inventory of Homes for Sale 45 27 - 40.0% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 25 18 - 28.0%124 73 - 41.1% Closed Sales 33 14 - 57.6%118 62 - 47.5% Median Sales Price* $265,000 $316,500 + 19.4%$267,500 $307,500 + 15.0% Average Sales Price* $298,334 $349,886 + 17.3%$299,636 $344,216 + 14.9% Percent of Original List Price Received*103.3% 99.3% - 3.9%102.3% 100.1% - 2.2% Days on Market Until Sale 4 5 + 25.0%10 10 0.0% Inventory of Homes for Sale 8 5 - 37.5% James Island — James Island — Current as of June 9, 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. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
May 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 May 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 $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 158 109 - 31.0%701 541 - 22.8% Closed Sales 146 110 - 24.7%609 449 - 26.3% Median Sales Price* $452,700 $472,540 + 4.4%$435,000 $470,000 + 8.0% Average Sales Price* $522,089 $528,572 + 1.2%$496,212 $523,580 + 5.5% Percent of Original List Price Received*103.2% 98.6% - 4.5%101.3% 97.2% - 4.0% Days on Market Until Sale 9 21 + 133.3%15 28 + 86.7% Inventory of Homes for Sale 103 70 - 32.0% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 52 39 - 25.0%206 162 - 21.4% Closed Sales 50 30 - 40.0%204 118 - 42.2% Median Sales Price* $333,000 $305,250 - 8.3%$325,000 $314,500 - 3.2% Average Sales Price* $309,290 $317,430 + 2.6%$311,048 $325,867 + 4.8% Percent of Original List Price Received*102.8% 99.9% - 2.8%102.3% 98.3% - 3.9% Days on Market Until Sale 20 9 - 55.0%14 21 + 50.0% Inventory of Homes for Sale 14 22 + 57.1%-West Ashley Area — West Ashley Area — Current as of June 9, 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. All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
May 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 May 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 $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 Townhouse-Condo Attached
132 East Bay Street, Charleston, SC 29401 309 Coleman Boulevard, Mount Pleasant, SC 29464 843.628.0008 | CassinaGroup.com FOLLOW THE CASSINA GROUP