Charleston Real Estate Report

QUARTER 3, 2016 REAL ESTATE REPORT

THE MARKET IN THE CHARLESTON AREA

Johns Island & Wadmalaw Market Facts

A stunning contrast to more developed areas of Charleston, Johns Island is truly a diamond in the rough. One only needs to drive the lovely scenic roads to discover the charm of its maritime forests and unspoiled natural beauty. The second largest island on the East Coast (second only to Long Island NY), Johns Island was traditionally a planting community for early settlers of Charlestowne.

Number of Sales

Average Days On Market

187

200

70

148 150

50

100 Q3 2015

Q3 2015

$250

$319,820

$320,000

Q3 2016

Sold Price Per SqFt

$344,218

$340,000

38

30

Q3 2016

Average Sale Price $360,000

58

$150 $154

$150

$300,000

$50 Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $400,000

$368,739 $354,979 $344,218

$300,000

$325,682 $324,302 $319,820

Original List Price Final List Price Sold Price

$200,000 Q3 2015 Q3 2016

featured property |

johns island 3031 Maritime Forest Drive

$695,000

selling the extraordinary 5

For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

James Island & Folly Beach Market Facts

A well established community, James Island is an island west of downtown Charleston, separated from West Ashley by the Stono River. This area offers a large selection of moderately priced single family homes, as well as apartments and condominiums. In exploring James Island, one will find numerous gems with deep water docks, along with moderately sized homes framed by ancient oaks and magnolia trees.

Number of Sales 300

289

Average Days On Market 55

286

51 49

50 250 Q3 2015

45

Q3 2016

Q3 2015

Average Sale Price $400,000

Sold Price Per SqFt $300

$ 336,638 $311,844

$300,000

$250

$200,000

$200

$100,000

$150 Q3 2015

Q3 2016

Q3 2016

$199 $200

Q3 2015

Q3 2016

List Prices versus Sold Prices $370,000 $350,000 $330,000 $310,000

$329,184 $321,470 $311,844

$353,967 $345,457 $336,638

Original List Price Final List Price Sold Price

$290,000 $270,000 $250,000 Q3 2015 Q3 2016

brand news

“Houseguest” is the new custom video series presented by the Sotheby’s International Realty® brand. This series follows influential and inspirational people as they become a houseguest in a home represented by the Sotheby’s International Realty brand and meld their life with the unique lifestyle found with their extraordinary accommodations.

EPISODE 1: Kevin Red Star

As one of the most acclaimed artists of our time, Kevin Red Star, is a Native American Painter of American Indian Culture. Born and raised on the Crow Indian Nation in Lodge Grass, Montana, Kevin Red Star finds inspiration in his family, heritage and abundance of visual experience to compose a signature style and palette.

In the first episode of Sotheby’s International Realty | Houseguest, Kevin Red Star visits a stunning home in Weehawken, New Jersey with almost touchable views of the New York City skyline. Watch how Kevin Red Star is inspired by his new and very different surroundings to create his latest masterpiece.

WATCH NOW!

EPISODE 2: Underwater Photographer Duo Dives into Turks & Caicos

As an underwater photography team, Alicia and Jim Ward thrive cooperatively to capture beautiful images of the world’s oceans. Together they embrace challenging conditions to continuously push their creative capabilities to showcase the enchanting life beneath the surface.

In this episode of Houseguest, Alicia and Jim visit Turtle Tail, a spectacular tropical compound in Turks & Caicos located on a private peninsula. Watch how this couple discovers the dynamic fusion of home and nature found at this breathtaking estate. selling the extraordinary WATCH NOW! 5

West Ashley (inside 526) Market Facts

West Ashley is located across the Ashley River, directly west of Downtown Charleston, and it is one of the earliest suburbs in the area, West Ashley offers a number of historic neighborhoods built in the mid 20th century. Well located, being just minutes from downtown, West Ashley offers an array of moderately priced, often brick homes on ample sized lots, some on the water with marsh views.

Number of Sales

Average Days On Market

144

177

150

50

40

50 Q3 2015

20

Q3 2016

Q3 2015

Average Sale Price $300,000

55

60

250

Sold Price Per SqFt

$285,058 $260,294

$250

$250,000 $200,000

$150

$150,000

$50 Q3 2015

Q3 2016

Q3 2016

$157 $172

Q3 2015

Q3 2016

List Prices versus Sold Prices $310,000

$300,901

$300,000

$292,912

$290,000 $280,000 $270,000 $260,000

$273,949 $266,950 $260,294

$285,058

Original List Price Final List Price Sold Price

$250,000 Q3 2015 Q3 2016

featured properties |

13 Johnson Road Dan Ravenel

1505 Hurtes Island Drive Dan Ravenel & Daniel Ravenel, Jr.

west ashley

$5,900,000 5B 6.5b 8,260 SqFt

$1,395,000 4B 6.5+b 4,869 SqFt

selling the extraordinary 5 For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

Charleston Peninsula (Below Crosstown) Market Facts

Located the peninsula between the Ashley and Cooper Rivers, Downtown Charleston is a bustling pedestrian city full of artists, businesspeople, students, and families. Cobblestone streets lined with crepe myrtles and oaks lead to winding alleys full of colorful architectyre and historical significance. The famous mansions and gardens hide behind walls and iron gates, and magnificent historical churches and landmarks attract visitors from all over the world.

Number of Sales 124

150 83

100

Average Days On Market 104 100

50 0 Q3 2015

0

Q3 2016

Average Sale Price

Q3 2015

Q3 2016

Sold Price Per SqFt $500

$900,000 $800,000

177

200

$797,584 $ 793,486

$700,000

$370

$400

$407

$300 Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $1,000,000 $912,199 $900,000 $800,000

Original List Price

$862,873 $797,584

$838,075 $823,867 $793,486

$700,000 Q3 2015 Q3 2016

Final List Price Sold Price

featured property| downtown charleston 3 King Street

$1,150,000

selling the extraordinary 5 For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

Kiawah Island & Seabrook Island

Kiawah Island is a privately owned beach and golf resort located on a barrier island 15 miles south of Charleston, South Carolina. The island is lined with 10 miles of pristine beaches and approximately 10,000 acres of natural woodlands. Seabrook Island, wholly owned by its residents, is also a gated island which offers lush maritime forests, a top rate tennis facility, two championship golf courses and a full service equestrian center. Seabrook also offers one of the widest beaches on the East Coast.

Number of Sales 100

65

Average Days On Market 250

300 55

178

200

50

100 0 Q3 2015

0

Q3 2016

Q3 2015

Average Sale Price $612,500

Q3 2016

Sold Price Per SqFt

$607,871 $604,328

$288

$300

$603,750

$282

$250

$595,000

$200 Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $1,000,000 $800,000 $600,000

$841,633 $641,760 $604,328

$681,366 $653,235 $607,871

Original List Price Final List Price Sold Price

$400,000 $200,000 Q3 2015 Q3 2016

featured properties | kiawah & seabrook

141 Halona Lane

$2,450,000

3147 Marshgate Drive

$6,500,000

1161 Oyster Catcher Drive

$4,000,000

2731 Jenkins Point Road

$3,999,999

selling the extraordinary

Mt. Pleasant (South of IOP Connector) Market Facts

Mt. Pleasant is located just north of downtown Charleston, and has many lovely homes in varied price ranges. Originally accessed via ferry and later two bridges, Mt. Pleasant is now a quick zip over the new Ravenel Bridge, completed in 2006. With this ease of access, Mt. Pleasant is quickly becoming the most popular spot for new residents in the Charleston area. Mt. Pleasant is one of the fastest growing suburbs in the country.

Number of Sales 356

400

Average Days On Market

381

56

60

45

300 40

200 100 Q3 2015

20

Q3 2016

Q3 2015

Average Sale Price $600,000

Q3 2016

Sold Price Per SqFt

$544,017 $496,541

$300

$223

$250 $400,000

$264

$200 $150

$200,000

$100 Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $600,000 $550,000

$574,117 $560,215 $525,219 $514,851

$544,017

$496,541

$500,000

Original List Price Final List Price Sold Price

$450,000 Q3 2015 Q3 2016

focus on: neighborhood videos The Crescent

Sullivan’s Island

selling the extraordinary 5 For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

Sullivans Island Market Facts

Just past the fabulous shopping and dining in Mount Pleasant sits historic Sullivan’s Island. This beachfront community is steeped in tradition, and has a deep respect for nature. Homes range in price and run from large beach front mansions to smaller deep water homes accessing the Intracoastal Waterway.

Number of Sales 20 20

Average Days On Market 200

19

18

18

111 100

17 Q3 2015

$2,000,000 $1,500,000

0

Q3 2016

Average Sale Price

$1,664,318 $1,487,837

153

Q3 2015

Q3 2016

Sold Price Per SqFt $544

$600

$526

$500 $400

$1,000,000

$300 Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $2,250,000 $1,750,000

$2,176,020 $1,790,713 $1,664,318

$1,699,000 $1,623,772 $1,487,837

$1,250,000

Original List Price Final List Price Sold Price

$750,000 Q3 2015 Q3 2016

featured property | sullivan’s island

1311 Cove Avenue

$2,599,000

selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

Wild Dunes & Isle of Palms Market Facts

Originally known as “Long Island,” the Isle of Palms is one of Charleston’s premier beach communities. From smaller beach bungalows to luxury beach retreats well over a million dollars, the Isle of Palms has it all. Originally developed in the early 20th century as a beachfront with one hotel, and built up in the mid 20th Century, the Isle of Palms has blossomed into a full resort destination. Wild Dunes is a renowned community situated at the north end of the island and offers its residents innumerable amenities including tennis, clubhouses, and several world renowned golf courses right on the Intracoastal Waterway.

Number of Sales

Average Days On Market

57

60

200

131

50 50

100

40 Q3 2015

0

Q3 2016

Q3 2015

Average Sale Price $1,250,000

161

Sold Price Per SqFt $400

$400

$958,129 $757,258

$750,000

$350

$250,000

$300 Q3 2015

Q3 2016

Q3 2016

$343

Q3 2015

Q3 2016

List Prices versus Sold Prices $1,100,000 $1,000,000 $900,000 $800,000

$872,080

$1,037,359 $1,002,996 $958,129

$800,230 $757,258

Original List Price Final List Price Sold Price

$700,000 $600,000 $500,000 Q3 2015 Q3 2016

international exposure | wall street journal 2608 Ion Avenue

$2,187,500

Click to read more!

selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

THE MARKET IN DOWNTOWN CHARLESTON

South of Broad Market Facts

This area is defined as the lower section of the peninsula located to the south of Broad Street, a main thoroughfare bisecting the oldest part of the city. Broad Street houses many businesses including banks and real estate offices, as well as a large collection of art galleries. Just past Broad Street heading south are some of the stateliest historical mansions in South Carolina.

Number of Sales

Average Days On Market

20

20

441 200

12

111

10

100

0 Q3 2015

Average Sale Price $2,250,000

0

Q3 2016

$2,117,917

$1,456,492

$1,750,000

Q3 2015

Q3 2016

Sold Price Per SqFt $600

$527

$515

$500

$1,250,000 $750,000

$400 Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $3,000,000 $2,500,000

$2,641,250 $2,403,125

Original List Price

$2,117,917

Final List Price

$2,000,000 $1,558,550 $1,520,810 $1,456,492

$1,500,000 $1,000,000 Q3 2015

Q3 2016

Sold Price

brand news

The Sotheby’s International Realty® brand continues to expand globally, adding new distribution opportunities to showcase properties to affluent consumers in key growth markets. Now we are expanding our presence in China!

Every qualified listing that is uploaded onto the Sotheby’s International Realty brand distribution platform is now also promoted on Juwai.com, one of the world’s most prominent real estate websites with over 2 million monthly visitors. Adding Juwai.com as a syndication partner further solidifies the Sotheby’s International Realty brand reach in China: At this moment, one out of every 10 visitors on sothebysrealty.com is located in China.

EXCLUSIVE APPLE NEWS PARTNERSHIP

selling the extraordinary 5 For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

Harleston Village Market Facts

Located to the southwest of downtown, Harleston Village is a diverse and vibrant area of Charleston. Originally owned by the widow Harleston, who created today’s neighborhoods and streets from her husbands farm land. One of the larger downtown neighborhoods, Harleston Village is minutes from The Battery and home to Colonial Lake, Cannon Park, Moultrie Park, and the City Marina.

Number of Sales 30

20

26

Average Days On Market 168

200

20

110 100

10 0 Q3 2015

Average Sale Price $1,250,000

0

Q3 2016

$997,583 $739,301

Q3 2015

Sold Price Per SqFt $500

$750,000

$400

$250,000

$300 Q3 2015

Q3 2016

Q3 2016

$433 $363

Q3 2015

Q3 2016

List Prices versus Sold Prices $1,200,000 $1,000,000 $800,000

$786,620 $771,015 $739,301

$1,048,381 $1,034,785 $997,583

Original List Price Final List Price Sold Price

$600,000 $400,000 Q3 2015 Q3 2016

local exposure | post & courier 272 Cedar Hall Road

$1,500,000

Click to read more!

selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

French Quarter Market Facts

The French Quarter is well known in downtown Charleston for its cobblestone streets, lovely alleys and unique historical homes. Originally named for the large concentration of French Huguenots living here, the French Quarter has no lack of charms with the famous Church Street, Queen Street and fabulous renovated warehouses and pre-Revolutionary buildings.

Number of Sales

Average Days On Market

6

6

363 200

5

5

3 Q3 2015

Q3 2016

Average Sale Price $1,100,000 $900,000

176

180

4

$979,417 $705,288

$700,000 $500,000

160 Q3 2015

Q3 2016

Sold Price Per SqFt $700

$619 $508

$500 $300

Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $1,150,000 $950,000 $750,000

$892,500

$1,028,667 $1,020,483 $979,417

$743,200 $705,288

Original List Price Final List Price Sold Price

$550,000 $350,000 Q3 2015 Q3 2016

Sotheby’s news | the latest from the auction house

Chinese Emperor’s Seal Leads $281 Million Sotheby’s Asia Auction

Sotheby’s sold HK$2.18 billion ($281 million) worth of Asian Art, watches, jewelry and wine at a five-day sale that ended in Hong Kong on Wednesday evening.

The results were below the HK$2.7 billion the New York-based auction house sold a year ago at its Hong Kong autumn sales, and the HK$3.1 billion spent at Hong Kong’s other twice-yearly sale in April.

“Sotheby’s Hong Kong sales demonstrated East Asia’s resistance to uncertainty and softness in some Western markets,” Sotheby’s Chief Executive Officer Tad Smith said in a statement.

The top lot was an 18th century jade seal belonging to Chinese emperor Qianlong that sold to an anonymous Asian buyer for HK$91.5 million, exceeding its low estimate of HK$80 million.

Bloomberg.com

selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

Ansonborough Market Facts

Ansonborough is defined as the area between King and East Bay and George and Pinckney Streets just north of the historic market and Custom House. Rebuilt after the great fire of 1836, Ansonborough was the city’s first suburb and boasts some impressive historic homes which have undergone extensive restorations thanks to the work of the Historic Charleston Foundation.

Number of Sales 5

410 200

4 3

2

1 Q3 2015

Q3 2016

Average Sale Price

$1,375,000

$826,100

$1,000,000

175

180

2

$1,500,000

Average Days On Market

5

$500,000

160 Q3 2015

Q3 2016

Sold Price Per SqFt $500

$436

$462

$400 $300

Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $1,700,000 $1,500,000

$1,412,500 $ 1,512,000 $1,375,000

Original List Price

$1,300,000 $1,100,000

$926,600 $908,600 $826,100

$900,000 $700,000 $500,000 Q3 2015

Q3 2016

Final List Price Sold Price

featured property | ansonborough 71 Anson Street

$5,500,000

selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

Radcliffeborough Market Facts

Radcliffeborough is an area north of Harleston Village and offers some of the hippest new restaurants and bars located on Upper King Street. St Phillip Street is the main hub of the College of Charleston, with its 10,000 undergrad students.

Number of Sales 20

16

Average Days On Market 200

137

15

101

8

10

100

5 Q3 2015

Average Sale Price $700,000 $600,000

0

Q3 2016

$615,875 $591,594

Q3 2015

Sold Price Per SqFt $400

$353 $293

$300

$500,000 $400,000

Q3 2016

$200 Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $680,000

$662,813 $645,438

$640,000

$615,875

$600,000

$618,259 $608,544 $591,594

$560,000 $520,000 Q3 2015 Q3 2016

Original List Price Final List Price Sold Price

featured development: indigo park, kiawah island

selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

Canonborough & Elliotborough Market Facts

Cannonborough and Elliotborough are located above Morris and Bee Streets on the Peninsula and house a large portion of Charleston’s student population. Well located for walking access to the College of Charleston, Medical University and also to Upper King Street’s restaurants and bars, this area is a lively urban mix of age groups.

Number of Sales

Average Days On Market

20

15

40 26

10 10 5 Q3 2015

0

Q3 2016

Average Sale Price $473,595

$500,000 $400,000

14

20

Q3 2015

Q3 2016

Sold Price Per SqFt $400

$312

$307

$300

$387,200

$200 $100

$300,000

$-­‐ Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $489,245 $486,495 $473,595

$500,000 $450,000 $400,000

Original List Price Final List Price

$397,600 $396,100

Sold Price

$387,200

$350,000 Q3 2015 Q3 2016

local exposure | post & courier

Click to read more!

selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

Wagener Terrace & Hampton Park Market Facts

Wagener Terrace is a suburban area with marsh views and numerous well located, moderately priced homes. Hampton Park gains its name from the large green space in its center which was a world fair site in 1900.

Number of Sales

Average Days On Market

25

40 20

20

20 20

15 Q3 2015

0

Q3 2016

Q3 2015

Average Sale Price $550,000 $450,000

38

30

Q3 2016

Sold Price Per SqFt $300

$460,868 $402,925

$242

$261

$350,000 $250,000

$200 Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $489,085

$500,000

$475,840 $450,000 $400,000

$460,868

$424,490

Original List Price Final List Price

$409,675 $402,925

Sold Price

$350,000 Q3 2015 Q3 2016

global exposure | new york times

EXCLUSIVE VIDEO BLOCK

The Sotheby’s International Realty brand continues to run the Exclusive Video Block on the New York Times “Find a Home” landing page. As the exclusive “Find a Home” launch partner, the Sotheby’s International Realty brand owns the native video module, which is served on the #1 and #2 editorial slots in this section. No other brand has been able to utilize this custom video player found on the NYTimes.com homepage.

The New York Times website has massive global reach, reaching over 80 million monthly visitors and a highly engaged audience who view over 482 million pages monthly. During September 2016, 71 Anson Street located in Ansonborough, Downtown Charleston, was featured in the Exclusive Video Block. In October 2016, 4257 Wild Turkey Way, the stunning home located at Briar’s Creek, was the featured content for the Lowcountry.

Click to view more!

Wraggborough Market Facts

Wraggborough is an area north of Ansonborough which features lovely ancient oaks and parks alongside well constructed, historic homes in a variety of price ranges. Originally owned by the Wragg family and divided among the descendents, it is home to the Charleston Museum which is the oldest museum in America.

Number of Sales

200

3

4

Average Days On Market

2

1

0 Q3 2015

$600,000

$575,633

$400,000

$285,500

$200,000

62

0

Q3 2016

Average Sale Price

79

100

Q3 2015

Q3 2016

Sold Price Per SqFt $589

$600 $500

$365

$400 $300

$-­‐

$200 Q3 2015

Q3 2016

Q3 2015

Q3 2016

List Prices versus Sold Prices $700,000 $600,000

$610,967 $602,633 $575,633

Original List Price

$500,000

Final List Price

$400,000 $299,000 $299,900 $285,500

$300,000 $200,000 Q3 2015

Q3 2016

Sold Price

quarter 3 signiďŹ cant sales 2608 Ion Avenue

$2,187,500

3561 Legareville Road

$1,820,000

76 Halsey Boulevard

$1,580,000

67 Bull Street

$1,310,000

126 Rutledge Avenue

$1,227,500

1577 E Ashley, listed by Highgarden

$1,217,000

selling the extraordinary For more information or to explore our collection of extraordinary properties in the Charleston area, visit DanielRavenelSIR.com

Daniel Ravenel Sotheby’s International Realty 33 Broad Street Charleston, SC 29401 O: 843.723.7150 | F: 843.723.7494 www.DanielRavenelSIR.com