October 2022 Real Estate Report | The Cassina Group

OCTOBER 2022

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

Key Metrics

Median Sales Price* $1,322,500 $1,452,500 + 9.8%$999,375 $1,295,000 + 29.6%

Average Sales Price* $1,421,389 $1,709,438 + 20.3%$1,394,437 $1,806,930 + 29.6%

Percent of Original List Price Received*91.8% 96.7% + 5.3%94.0% 97.2% + 3.4% Days on Market Until Sale 75 30 - 60.0%88 45 - 48.9% Inventory of Homes for Sale 73 54 - 26.0% Key Metrics

Average Sales Price* $780,220 $1,352,571 + 73.4%$781,838 $900,168 + 15.1%

Percent of Original List Price Received*91.7% 94.9% + 3.5%94.1%

Year to Date

New Listings 21 16 - 23.8%241 218 - 9.5%

Closed Sales 22 13 - 40.9%220 177 - 19.5%

Median Sales Price* $585,000 $815,000 + 39.3%$589,500 $655,000 + 11.1%

Average Sales Price* $625,677 $742,785 + 18.7%$616,020 $754,358 + 22.5%

Percent of Original List Price Received*96.2% 94.5% - 1.8%96.1% 97.5% + 1.5%

Days on Market Until Sale 20 37 + 85.0%58 32 - 44.8%

Inventory of Homes for Sale 39 36 - 7.7%

October Year to Date

Key Metrics 20212022 Percent Change 20212022 Percent Change

New Listings 4 3 - 25.0%42 32 - 23.8%

Closed Sales 2 0 - 100.0%30 27 - 10.0%

Median Sales Price* $466,841 $0 - 100.0%$442,000 $423,000 - 4.3%

Average Sales Price* $466,841 $0 - 100.0%$517,079 $469,883 - 9.1%

Percent of Original List Price Received*95.8% 0.0% - 100.0%97.7% 96.5% - 1.2% Days on Market Until Sale 14 0 - 100.0%36 61 + 69.4% Inventory of Homes for Sale 9 4 - 55.6%

New Listings 76 58 - 23.7%878 745 - 15.1% Closed Sales 78 42 - 46.2%831 601 - 27.7%

Median Sales Price* $789,250 $837,250 + 6.1%$740,000 $895,000 + 20.9%

Average Sales Price* $1,066,328 $1,199,488 + 12.5%$911,209 $1,174,670 + 28.9%

Percent of Original List Price Received*96.8% 94.2% - 2.7%98.6% 99.2% + 0.6% Days on Market Until Sale 22 20 - 9.1% 23 13 - 43.5% Inventory of Homes for Sale 59 78 + 32.2%-Key Metrics

New Listings 28 33 + 17.9%506 330 - 34.8% Closed Sales 42 25 - 40.5%478 291 - 39.1%

Median Sales Price* $365,000 $428,000 + 17.3%$310,000 $395,000 + 27.4%

Average Sales Price* $558,799 $501,112 - 10.3%$421,378 $521,233 + 23.7%

Percent of Original List Price Received*100.1% 95.7% - 4.4%99.9%

Upper Mount Pleasant October Year to Date

Single-Family Detached

Key Metrics 20212022

New Listings 86 79 - 8.1%1,151 1,031 - 10.4%

Closed Sales 104 76 - 26.9%1,087 794 - 27.0%

Median Sales Price* $699,183 $806,500 + 15.3%$635,226 $805,500 + 26.8%

Average Sales Price* $789,678 $911,390 + 15.4%$719,630 $914,803 + 27.1%

Percent of Original List Price Received*100.5% 99.0% - 1.5%100.8% 100.1% - 0.7%

Days on Market Until Sale 20 19 - 5.0% 17 13 - 23.5%

Inventory of Homes for Sale 77 164 + 113.0%--

Year to

Key

New Listings 34 20 - 41.2%328 297 - 9.5%

Closed Sales 30 13 - 56.7%294 263 - 10.5%

Median Sales Price* $398,946 $500,000 + 25.3%$341,500 $420,000 + 23.0%

Average Sales Price* $393,080 $472,269 + 20.1%$350,536 $429,000 + 22.4%

Percent of Original List Price Received*100.5% 96.3% - 4.2%100.7% 101.1% + 0.4% Days on Market Until Sale 16 29 + 81.3%13 13 0.0% Inventory of Homes for Sale 22 34 + 54.5%-- --

Sullivan's

New Listings 22 14 - 36.4%278 200 - 28.1% Closed Sales 15 12 - 20.0%231 142 - 38.5%

Median Sales Price* $1,300,000 $1,862,500 + 43.3%$1,630,000 $1,987,500 + 21.9%

Average Sales Price* $2,074,000 $2,873,750 + 38.6%$1,967,875 $2,336,317 + 18.7%

Percent of Original List Price Received*97.5% 99.0% + 1.5%97.4% 97.0% - 0.4% Days on Market Until Sale 40 21 - 47.5%30 26 - 13.3% Inventory of Homes for Sale 34 51 + 50.0%-Key Metrics

New Listings 4 6 + 50.0%100 107 + 7.0% Closed Sales 6 8 + 33.3%101 87 - 13.9%

Median Sales Price* $838,250 $687,000 - 18.0%$725,000 $849,000 + 17.1%

Average Sales Price* $994,417 $904,875 - 9.0%$774,369 $981,482 + 26.7%

Percent of Original List Price Received*97.4% 95.3% - 2.2%97.8% 97.6% - 0.2%

Single-Family Detached

October Year to Date

Key Metrics 20212022

New Listings 7 4 - 42.9%57 50 - 12.3%

Closed Sales 3 0 - 100.0%41 26 - 36.6%

Median Sales Price* $2,600,000 0 - 100.0%$3,000,000 $4,687,500 + 56.3%

Average Sales Price* $2,433,333 $0 - 100.0%$3,459,385 $4,649,966 + 34.4%

Percent of Original List Price Received*100.0% 0.0% - 100.0%96.4% 94.7% - 1.8%

Days on Market Until Sale 0 0 71 32 - 54.9%

Inventory of Homes for Sale 12 16 + 33.3%--

Year to Date

Key

New Listings 1 0 - 100.0%6 2 - 66.7%

Closed Sales 0 0 4 4 0.0%

Median Sales Price* $0 $0 --$580,000 $1,812,500 + 212.5%

Average Sales Price* $0 $0 --$821,250 $1,678,125 + 104.3%

Percent of Original List Price Received*0.0% 0.0% 86.6% 90.9%

Single-Family

Single-Family Detached

Key Metrics

20212022

New Listings 50 57 + 14.0%663 596 - 10.1% Closed Sales 60 36 - 40.0%607 480 - 20.9%

Median Sales Price* $550,000 $595,000 + 8.2%$460,000 $565,000 + 22.8%

Average Sales Price* $618,619 $677,316 + 9.5%$552,341 $640,517 + 16.0%

Percent of Original List Price Received*98.4% 94.4% - 4.1%99.1% 100.0% + 0.9% Days on Market Until Sale 25 23 - 8.0% 19 14 - 26.3% Inventory of Homes for Sale 46 73 + 58.7%-Key Metrics

New Listings 25 13 - 48.0%265 218 - 17.7% Closed Sales 20 8 - 60.0%249 208 - 16.5%

Median Sales Price* $263,450 $293,500 + 11.4%$230,000 $284,500 + 23.7%

Average Sales Price* $281,095 $282,413 + 0.5%$246,321 $300,623 + 22.0%

Percent of Original List Price Received*98.2% 97.8% - 0.4%99.5% 101.5% + 2.0% Days

New Listings 127 106 - 16.5%1,394 1,317 - 5.5%

Closed Sales 123 90 - 26.8%1,168 1,158 - 0.9%

Median Sales Price* $415,000 $457,500 + 10.2%$389,500 $449,500 + 15.4%

Average Sales Price* $490,660 $516,791 + 5.3%$446,714 $506,732 + 13.4%

Percent of Original List Price Received*97.9% 96.7% - 1.2%99.1% 100.2% + 1.1%

Days on Market Until Sale 18 19 + 5.6% 18 14 - 22.2%

Inventory of Homes for Sale 134 154 + 14.9%--

Key Metrics 20212022 Percent Change 20212022 Percent Change

New Listings 35 29 - 17.1%487 378 - 22.4%

Closed Sales 37 23 - 37.8%453 363 - 19.9%

Median Sales Price* $247,500 $300,000 + 21.2%$246,600 $317,500 + 28.8%

Average Sales Price* $261,614 $302,432 + 15.6%$245,077 $308,391 + 25.8%

Percent of Original List Price Received*99.7% 97.8% - 1.9%100.1% 101.8% + 1.7%