NOVEMBER 2018
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 – November 2018
Local Market Update – November 2018
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 November
Single-Family Detached
Year to Date
November
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
20
27
+ 35.0%
274
388
+ 41.6%
New Listings
15
19
+ 26.7%
213
257
+ 20.7%
Closed Sales
12
8
- 33.3%
212
187
- 11.8%
Closed Sales
6
5
- 16.7%
142
147
+ 3.5%
Median Sales Price*
$915,000
$671,250
- 26.6%
$895,000
$962,500
+ 7.5%
Median Sales Price*
$508,500
$392,000
- 22.9%
$472,250
$485,350
+ 2.8%
Average Sales Price*
$1,224,079
$1,485,063
+ 21.3%
$1,263,816
$1,323,391
+ 4.7%
Average Sales Price*
$485,333
$385,900
- 20.5%
$508,301
$504,213
- 0.8%
88.4%
89.0%
+ 0.7%
92.0%
91.8%
- 0.2%
Percent of Original List Price Received*
94.3%
92.5%
- 1.9%
95.2%
94.1%
- 1.2%
Days on Market Until Sale
137
93
- 32.1%
103
88
- 14.6%
Days on Market Until Sale
42
121
+ 188.1%
49
54
+ 10.2%
Inventory of Homes for Sale
112
179
+ 59.8%
--
--
--
Inventory of Homes for Sale
56
83
+ 48.2%
--
--
--
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
November
Year to Date
November
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
22
22
0.0%
304
386
+ 27.0%
New Listings
2
1
- 50.0%
44
49
+ 11.4%
Closed Sales
12
33
+ 175.0%
179
177
- 1.1%
Closed Sales
3
2
- 33.3%
25
27
+ 8.0%
Median Sales Price*
$660,000
$746,000
+ 13.0%
$572,000
$610,000
+ 6.6%
Median Sales Price*
$242,500
$252,500
+ 4.1%
$346,000
$375,000
+ 8.4%
Average Sales Price*
$983,229
$726,364
- 26.1%
$704,824
$753,649
+ 6.9%
Average Sales Price*
$301,667
$252,500
- 16.3%
$371,036
$443,817
+ 19.6%
94.4%
97.4%
+ 3.2%
93.8%
94.6%
+ 0.9%
Percent of Original List Price Received*
95.2%
87.5%
- 8.1%
94.7%
94.9%
+ 0.2%
Days on Market Until Sale
64
37
- 42.2%
91
76
- 16.5%
Days on Market Until Sale
34
15
- 55.9%
58
37
- 36.2%
Inventory of Homes for Sale
120
153
+ 27.5%
--
--
--
Inventory of Homes for Sale
14
15
+ 7.1%
--
--
--
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.
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 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$100,000 1-2008
$200,000
$200,000
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of December 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of December 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – November 2018
Local Market Update – November 2018
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 November
Single-Family Detached
Year to Date
November
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
63
88
+ 39.7%
1,118
1,075
- 3.8%
New Listings
104
77
- 26.0%
1,497
1,424
- 4.9%
Closed Sales
70
50
- 28.6%
778
751
- 3.5%
Closed Sales
89
64
- 28.1%
972
890
- 8.4%
Median Sales Price*
$539,250
$579,480
+ 7.5%
$525,000
$569,271
+ 8.4%
Median Sales Price*
$494,000
$516,750
+ 4.6%
$482,763
$520,000
+ 7.7%
Average Sales Price*
$603,604
$758,347
+ 25.6%
$638,718
$676,684
+ 5.9%
Average Sales Price*
$541,879
$565,256
+ 4.3%
$527,994
$573,192
+ 8.6%
94.2%
93.6%
- 0.6%
95.3%
95.3%
0.0%
95.4%
95.0%
- 0.4%
96.8%
96.3%
- 0.5%
Days on Market Until Sale
59
58
- 1.7%
55
51
- 7.3%
Days on Market Until Sale
76
75
- 1.3%
76
74
- 2.6%
Inventory of Homes for Sale
260
248
- 4.6%
--
--
--
Inventory of Homes for Sale
438
396
- 9.6%
--
--
--
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
November
Year to Date
November
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
17
29
+ 70.6%
426
440
+ 3.3%
New Listings
31
28
- 9.7%
405
456
+ 12.6%
Closed Sales
24
25
+ 4.2%
404
328
- 18.8%
Closed Sales
19
26
+ 36.8%
321
331
+ 3.1%
Median Sales Price*
$221,000
$255,000
+ 15.4%
$232,250
$242,500
+ 4.4%
Median Sales Price*
$323,000
$368,428
+ 14.1%
$308,000
$317,630
+ 3.1%
Average Sales Price*
$291,499
$517,186
+ 77.4%
$343,375
$341,853
- 0.4%
Average Sales Price*
$298,708
$324,341
+ 8.6%
$299,285
$300,731
+ 0.5%
95.4%
96.3%
+ 0.9%
96.3%
96.7%
+ 0.4%
Percent of Original List Price Received*
96.9%
95.7%
- 1.2%
97.3%
97.4%
+ 0.1%
Days on Market Until Sale
41
97
+ 136.6%
53
48
- 9.4%
Days on Market Until Sale
47
63
+ 34.0%
45
49
+ 8.9%
Inventory of Homes for Sale
73
86
+ 17.8%
--
--
--
Inventory of Homes for Sale
79
94
+ 19.0%
--
--
--
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 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$120,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of December 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of December 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – November 2018
Local Market Update – November 2018
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 November
Single-Family Detached
Year to Date
November
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
12
21
+ 75.0%
259
275
+ 6.2%
New Listings
7
7
0.0%
78
87
+ 11.5%
Closed Sales
11
6
- 45.5%
180
168
- 6.7%
Closed Sales
2
5
+ 150.0%
50
59
+ 18.0%
Median Sales Price*
$1,550,000
$995,000
- 35.8%
$842,000
$927,500
+ 10.2%
Median Sales Price*
$2,907,500
$2,770,000
- 4.7%
$1,700,000
$2,050,000
+ 20.6%
Average Sales Price*
$1,879,054
$1,194,167
- 36.4%
$1,110,247
$1,253,768
+ 12.9%
Average Sales Price*
$2,907,500
$2,379,000
- 18.2%
$2,062,765
$2,198,807
+ 6.6%
91.0%
91.7%
+ 0.8%
92.0%
91.9%
- 0.1%
Percent of Original List Price Received*
95.8%
90.3%
- 5.7%
90.7%
93.4%
+ 3.0%
Days on Market Until Sale
112
54
- 51.8%
128
114
- 10.9%
Days on Market Until Sale
88
81
- 8.0%
140
81
- 42.1%
Inventory of Homes for Sale
133
129
- 3.0%
--
--
--
Inventory of Homes for Sale
28
21
- 25.0%
--
--
--
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
November
Year to Date
November
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
14
7
- 50.0%
127
121
- 4.7%
New Listings
0
0
--
2
6
+ 200.0%
Closed Sales
6
6
0.0%
86
88
+ 2.3%
Closed Sales
0
0
--
3
2
- 33.3%
Median Sales Price*
$519,500
$737,500
+ 42.0%
$512,500
$582,500
+ 13.7%
Median Sales Price*
$0
$0
--
$512,500
$487,500
- 4.9%
Average Sales Price*
$504,167
$725,833
+ 44.0%
$535,824
$599,542
+ 11.9%
Average Sales Price*
$0
$0
--
$475,500
$487,500
+ 2.5%
96.1%
90.7%
- 5.6%
94.2%
94.0%
- 0.2%
Percent of Original List Price Received*
0.0%
0.0%
--
90.4%
97.5%
+ 7.9%
Days on Market Until Sale
129
220
+ 70.5%
154
103
- 33.1%
Days on Market Until Sale
0
0
--
216
13
- 94.0%
Inventory of Homes for Sale
64
67
+ 4.7%
--
--
--
Inventory of Homes for Sale
0
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
* 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 —
$1,500,000
$1,250,000
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
$1,000,000 $600,000
$1,500,000
$400,000
$1,000,000
$200,000
$500,000
$750,000
$2,000,000
$500,000
$250,000
$0 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$0 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of December 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$0 1-2008
$1,000,000
1-2010
1-2012
1-2014
1-2016
1-2018
$0 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of December 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – November 2018
Local Market Update – November 2018
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 November
Single-Family Detached
Year to Date
November
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
66
64
- 3.0%
939
878
- 6.5%
New Listings
133
105
- 21.1%
1,670
1,685
+ 0.9%
Closed Sales
57
47
- 17.5%
673
666
- 1.0%
Closed Sales
97
90
- 7.2%
1,289
1,265
- 1.9%
Median Sales Price*
$398,000
$363,000
- 8.8%
$359,900
$371,000
+ 3.1%
Median Sales Price*
$285,000
$299,500
+ 5.1%
$290,778
$309,000
+ 6.3%
Average Sales Price*
$441,285
$423,433
- 4.0%
$417,439
$435,489
+ 4.3%
Average Sales Price*
$298,770
$335,202
+ 12.2%
$314,938
$343,949
+ 9.2%
94.6%
97.2%
+ 2.7%
96.0%
96.9%
+ 0.9%
Percent of Original List Price Received*
96.8%
95.7%
- 1.1%
96.6%
96.5%
- 0.1%
Days on Market Until Sale
50
33
- 34.0%
43
39
- 9.3%
Days on Market Until Sale
42
39
- 7.1%
35
39
+ 11.4%
Inventory of Homes for Sale
182
189
+ 3.8%
--
--
--
Inventory of Homes for Sale
327
332
+ 1.5%
--
--
--
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
November
Year to Date
November
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
17
13
- 23.5%
249
233
- 6.4%
New Listings
38
24
- 36.8%
492
490
- 0.4%
Closed Sales
19
10
- 47.4%
214
189
- 11.7%
Closed Sales
35
26
- 25.7%
435
405
- 6.9%
Median Sales Price*
$199,500
$164,450
- 17.6%
$190,000
$195,000
+ 2.6%
Median Sales Price*
$199,000
$187,500
- 5.8%
$181,500
$185,000
+ 1.9%
Average Sales Price*
$215,539
$239,330
+ 11.0%
$195,513
$197,848
+ 1.2%
Average Sales Price*
$207,334
$172,140
- 17.0%
$183,666
$184,681
+ 0.6%
97.4%
96.4%
- 1.0%
96.7%
96.6%
- 0.1%
Percent of Original List Price Received*
97.0%
97.0%
0.0%
97.7%
97.4%
- 0.3%
Days on Market Until Sale
28
79
+ 182.1%
42
48
+ 14.3%
Days on Market Until Sale
35
25
- 28.6%
34
37
+ 8.8%
Inventory of Homes for Sale
53
49
- 7.5%
--
--
--
Inventory of Homes for Sale
71
87
+ 22.5%
--
--
--
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.
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
$220,000
All MLS — West Ashley Area —
$320,000
All MLS — West Ashley Area —
$220,000
$300,000
$200,000
$350,000
Townhouse-Condo Attached
Single-Family Detached All MLS — James Island —
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 1-2008
$120,000
1-2010
1-2012
1-2014
1-2016
1-2018
$100,000 1-2008
$160,000
$220,000 $140,000
$200,000
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of December 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$180,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$120,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of December 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 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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