MAY 2019
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 2019
Local Market Update – May 2019
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
43
46
+ 7.0%
192
234
+ 21.9%
New Listings
25
28
+ 12.0%
123
121
- 1.6%
Closed Sales
19
16
- 15.8%
98
69
- 29.6%
Closed Sales
15
17
+ 13.3%
81
97
+ 19.8%
Median Sales Price*
$895,000
$667,500
- 25.4%
$888,750
$875,000
- 1.5%
Median Sales Price*
$555,000
$490,000
- 11.7%
$515,000
$450,000
- 12.6%
Average Sales Price*
$1,423,758
$1,149,492
- 19.3%
$1,158,728
$1,570,107
+ 35.5%
Average Sales Price*
$597,873
$526,200
- 12.0%
$520,878
$484,400
- 7.0%
93.7%
93.6%
- 0.1%
91.9%
91.7%
- 0.2%
Percent of Original List Price Received*
95.6%
95.0%
- 0.6%
94.2%
91.4%
- 3.0%
Days on Market Until Sale
44
92
+ 109.1%
104
86
- 17.3%
Days on Market Until Sale
55
24
- 56.4%
55
71
+ 29.1%
Inventory of Homes for Sale
154
221
+ 43.5%
--
--
--
Inventory of Homes for Sale
67
64
- 4.5%
--
--
--
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
38
52
+ 36.8%
216
221
+ 2.3%
New Listings
4
5
+ 25.0%
24
15
- 37.5%
Closed Sales
21
12
- 42.9%
85
66
- 22.4%
Closed Sales
2
3
+ 50.0%
11
8
- 27.3%
Median Sales Price*
$435,000
$685,500
+ 57.6%
$542,500
$690,000
+ 27.2%
Median Sales Price*
$327,500
$303,000
- 7.5%
$425,000
$285,675
- 32.8%
Average Sales Price*
$473,071
$721,529
+ 52.5%
$717,918
$807,534
+ 12.5%
Average Sales Price*
$327,500
$301,833
- 7.8%
$495,959
$305,481
- 38.4%
95.4%
88.0%
- 7.8%
94.4%
92.4%
- 2.1%
Percent of Original List Price Received*
90.6%
88.5%
- 2.3%
98.7%
91.1%
- 7.7%
Days on Market Until Sale
80
149
+ 86.3%
92
95
+ 3.3%
Days on Market Until Sale
24
173
+ 620.8%
50
109
+ 118.0%
Inventory of Homes for Sale
165
197
+ 19.4%
--
--
--
Inventory of Homes for Sale
13
11
- 15.4%
--
--
--
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.
Historical Median Sales Price Single-Family Detached $1,200,000
* 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 —
$700,000
$1,000,000
$600,000
$800,000
$500,000
Single-Family Detached All MLS — Downtown Charleston —
$600,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —
All MLS — Upper Charleston Peninsula —
$500,000
$500,000 $400,000 $400,000
$600,000
$400,000
$300,000 $300,000
$400,000
$300,000
$200,000
$200,000
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
$200,000
$200,000
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of June 7, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of June 7, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – May 2019
Local Market Update – May 2019
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
123
153
+ 24.4%
551
593
+ 7.6%
New Listings
152
168
+ 10.5%
699
767
+ 9.7%
Closed Sales
112
84
- 25.0%
363
324
- 10.7%
Closed Sales
89
135
+ 51.7%
382
413
+ 8.1%
Median Sales Price*
$577,000
$536,250
- 7.1%
$550,000
$570,000
+ 3.6%
Median Sales Price*
$549,000
$499,000
- 9.1%
$520,000
$510,265
- 1.9%
Average Sales Price*
$665,570
$673,849
+ 1.2%
$640,603
$702,969
+ 9.7%
Average Sales Price*
$581,650
$553,766
- 4.8%
$567,217
$568,355
+ 0.2%
97.0%
94.5%
- 2.6%
95.6%
94.1%
- 1.6%
Percent of Original List Price Received*
95.9%
96.9%
+ 1.0%
96.5%
96.7%
+ 0.2%
Days on Market Until Sale
41
57
+ 39.0%
51
67
+ 31.4%
Days on Market Until Sale
64
73
+ 14.1%
79
72
- 8.9%
Inventory of Homes for Sale
257
283
+ 10.1%
--
--
--
Inventory of Homes for Sale
446
414
- 7.2%
--
--
--
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
44
46
+ 4.5%
215
197
- 8.4%
New Listings
51
41
- 19.6%
218
224
+ 2.8%
Closed Sales
45
27
- 40.0%
149
124
- 16.8%
Closed Sales
26
26
0.0%
141
129
- 8.5%
Median Sales Price*
$230,000
$279,900
+ 21.7%
$237,000
$255,000
+ 7.6%
Median Sales Price*
$265,250
$258,000
- 2.7%
$309,500
$297,500
- 3.9%
Average Sales Price*
$261,264
$385,107
+ 47.4%
$321,956
$374,413
+ 16.3%
Average Sales Price*
$291,938
$286,175
- 2.0%
$300,181
$292,934
- 2.4%
96.9%
95.2%
- 1.8%
96.8%
95.5%
- 1.3%
98.0%
97.1%
- 0.9%
97.9%
96.6%
- 1.3%
Days on Market Until Sale
36
61
+ 69.4%
46
58
+ 26.1%
Days on Market Until Sale
26
60
+ 130.8%
52
51
- 1.9%
Inventory of Homes for Sale
80
93
+ 16.3%
--
--
--
Inventory of Homes for Sale
93
114
+ 22.6%
--
--
--
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 —
Percent of Original List Price Received*
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 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$120,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of June 7, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of June 7, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – May 2019
Local Market Update – May 2019
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
34
30
- 11.8%
134
163
+ 21.6%
New Listings
9
10
+ 11.1%
51
33
- 35.3%
Closed Sales
20
21
+ 5.0%
92
77
- 16.3%
Closed Sales
6
5
- 16.7%
25
17
- 32.0%
Median Sales Price*
$872,000
$1,050,000
+ 20.4%
$985,000
$1,170,000
+ 18.8%
Median Sales Price*
$1,787,500
$2,500,000
+ 39.9%
$2,000,000
$2,135,000
+ 6.7%
Average Sales Price*
$1,588,975
$1,266,595
- 20.3%
$1,332,442
$1,461,861
+ 9.7%
Average Sales Price*
$1,914,583
$2,567,000
+ 34.1%
$2,142,984
$2,236,110
+ 4.3%
93.7%
91.4%
- 2.5%
91.7%
92.1%
+ 0.4%
Percent of Original List Price Received*
93.9%
94.8%
+ 1.0%
94.1%
88.3%
- 6.2%
Days on Market Until Sale
96
98
+ 2.1%
117
99
- 15.4%
Days on Market Until Sale
24
54
+ 125.0%
96
83
- 13.5%
Inventory of Homes for Sale
129
152
+ 17.8%
--
--
--
Inventory of Homes for Sale
31
31
0.0%
--
--
--
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.
* 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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
14
15
+ 7.1%
69
72
+ 4.3%
New Listings
4
0
- 100.0%
6
1
- 83.3%
Closed Sales
8
9
+ 12.5%
48
34
- 29.2%
Closed Sales
0
0
--
2
1
- 50.0%
Median Sales Price*
$587,500
$475,000
- 19.1%
$473,000
$491,750
+ 4.0%
Median Sales Price*
$0
$0
--
$487,500
$1,770,000
+ 263.1%
Average Sales Price*
$611,339
$458,889
- 24.9%
$531,650
$537,007
+ 1.0%
Average Sales Price*
$0
$0
--
$487,500
$1,770,000
+ 263.1%
95.1%
96.5%
+ 1.5%
94.5%
95.3%
+ 0.8%
Percent of Original List Price Received*
0.0%
0.0%
--
97.5%
94.4%
- 3.2%
Days on Market Until Sale
125
95
- 24.0%
92
82
- 10.9%
Days on Market Until Sale
0
0
--
13
195
+ 1,400.0%
Inventory of Homes for Sale
66
84
+ 27.3%
--
--
--
Inventory of Homes for Sale
4
2
- 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
$1,000,000
Townhouse-Condo Attached
Single-Family Detached All MLS — Isle of Palms —
$1,000,000
$800,000
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
$800,000 $600,000
$1,500,000
$400,000
$1,000,000
$200,000
$500,000
$600,000
$2,000,000
$400,000
$200,000
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of June 7, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$0 1-2009
$1,000,000
1-2011
1-2013
1-2015
1-2017
1-2019
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of June 7, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – May 2019
Local Market Update – May 2019
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
88
120
+ 36.4%
457
491
+ 7.4%
New Listings
182
186
+ 2.2%
834
829
- 0.6%
Closed Sales
62
71
+ 14.5%
308
281
- 8.8%
Closed Sales
165
135
- 18.2%
598
528
- 11.7%
Median Sales Price*
$348,750
$385,000
+ 10.4%
$367,500
$364,900
- 0.7%
Median Sales Price*
$306,230
$315,000
+ 2.9%
$310,000
$312,500
+ 0.8%
Average Sales Price*
$447,313
$452,319
+ 1.1%
$410,522
$471,331
+ 14.8%
Average Sales Price*
$355,784
$340,152
- 4.4%
$342,776
$346,104
+ 1.0%
96.1%
96.6%
+ 0.5%
97.4%
95.3%
- 2.2%
98.0%
95.5%
- 2.6%
97.0%
95.5%
- 1.5%
Days on Market Until Sale
37
43
+ 16.2%
39
57
+ 46.2%
Days on Market Until Sale
32
41
+ 28.1%
41
50
+ 22.0%
Inventory of Homes for Sale
212
209
- 1.4%
--
--
--
Inventory of Homes for Sale
323
347
+ 7.4%
--
--
--
Percent of Original List Price Received*
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
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
31
35
+ 12.9%
112
152
+ 35.7%
New Listings
46
49
+ 6.5%
220
279
+ 26.8%
Closed Sales
24
29
+ 20.8%
95
95
0.0%
Closed Sales
42
60
+ 42.9%
181
194
+ 7.2%
Median Sales Price*
$200,000
$233,000
+ 16.5%
$195,000
$213,000
+ 9.2%
Median Sales Price*
$181,875
$195,000
+ 7.2%
$185,000
$214,500
+ 15.9%
Average Sales Price*
$185,823
$229,292
+ 23.4%
$196,517
$219,115
+ 11.5%
Average Sales Price*
$192,589
$201,920
+ 4.8%
$187,028
$208,844
+ 11.7%
96.6%
98.1%
+ 1.6%
95.9%
96.9%
+ 1.0%
Percent of Original List Price Received*
97.6%
98.1%
+ 0.5%
97.6%
97.3%
- 0.3%
Days on Market Until Sale
49
49
0.0%
53
46
- 13.2%
Days on Market Until Sale
32
41
+ 28.1%
39
45
+ 15.4%
Inventory of Homes for Sale
40
56
+ 40.0%
--
--
--
Inventory of Homes for Sale
65
107
+ 64.6%
--
--
--
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
* 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 —
$220,000
Townhouse-Condo Attached All MLS — West Ashley Area —
All MLS — West Ashley Area —
$220,000
$300,000
$200,000
$350,000
$320,000
Rolling 12-Month Calculation
$200,000 $280,000
$180,000 $300,000
$180,000
$260,000 $160,000 $240,000
$250,000 $140,000 $200,000
$150,000 1-2009
$120,000
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
$160,000
$220,000 $140,000
$200,000
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of June 7, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$180,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$120,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of June 7, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
132 East Bay Street, Charleston, SC 29401 69 Morris Street, Charleston, SC 29403 309 Coleman Boulevard, Mount Pleasant, SC 29464
843.628.0008 | TheCassinaGroup.com
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