April 2022 Real Estate Report | The Cassina Group

Page 1

APRIL 2022

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 – April 2022

Local Market Update – April 2022

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 April

Single-Family Detached

Year to Date

April

Single-Family Detached

Year to Date

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

41

29

- 29.3%

155

112

- 27.7%

New Listings

27

22

- 18.5%

98

99

+ 1.0%

Closed Sales

47

27

- 42.6%

148

103

- 30.4%

Closed Sales

26

18

- 30.8%

92

76

- 17.4%

Median Sales Price*

$1,050,000

$1,425,000

+ 35.7%

$926,000

$1,180,000

+ 27.4%

Median Sales Price*

$632,500

$792,500

+ 25.3%

$588,000

$650,000

+ 10.5%

Average Sales Price*

$1,343,319

$1,821,185

+ 35.6%

$1,323,385

$1,632,597

+ 23.4%

Average Sales Price*

$613,833

$795,944

+ 29.7%

$604,988

$721,921

+ 19.3%

93.7%

97.2%

+ 3.7%

93.1%

96.2%

+ 3.3%

Percent of Original List Price Received*

97.4%

100.1%

+ 2.8%

95.3%

99.0%

+ 3.9%

Days on Market Until Sale

90

33

- 63.3%

112

53

- 52.7%

Days on Market Until Sale

69

18

- 73.9%

72

45

- 37.5%

Inventory of Homes for Sale

107

33

- 69.2%

--

--

--

Inventory of Homes for Sale

46

20

- 56.5%

--

--

--

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

April

Year to Date

April

Year to Date

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

41

37

- 9.8%

159

134

- 15.7%

New Listings

3

9

+ 200.0%

13

15

+ 15.4%

Closed Sales

34

39

+ 14.7%

101

117

+ 15.8%

Closed Sales

2

4

+ 100.0%

6

11

+ 83.3%

Median Sales Price*

$705,000

$700,000

- 0.7%

$649,000

$670,000

+ 3.2%

Median Sales Price*

$569,250

$325,000

- 42.9%

$530,500

$355,000

- 33.1%

Average Sales Price*

$947,834

$956,292

+ 0.9%

$834,052

$918,212

+ 10.1%

Average Sales Price*

$569,250

$432,500

- 24.0%

$472,250

$545,000

+ 15.4%

93.0%

97.2%

+ 4.5%

92.8%

96.8%

+ 4.3%

Percent of Original List Price Received*

97.7%

95.6%

- 2.1%

99.4%

95.6%

- 3.8%

Days on Market Until Sale

83

61

- 26.5%

109

72

- 33.9%

Days on Market Until Sale

58

54

- 6.9%

38

128

+ 236.8%

Inventory of Homes for Sale

123

32

- 74.0%

--

--

--

Inventory of Homes for Sale

7

5

- 28.6%

--

--

--

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 $1,400,000

* 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 —

$1,200,000

Single-Family Detached All MLS — Downtown Charleston —

$700,000

$700,000

$600,000

$600,000

$500,000

$500,000

$400,000

$400,000

$300,000

$300,000

$200,000

$200,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —

All MLS — Upper Charleston Peninsula —

$500,000

$400,000

$1,000,000 $800,000

$300,000

$600,000 $400,000

$200,000

$200,000 $0 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of May 9, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of May 9, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – April 2022

Local Market Update – April 2022

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 April

Single-Family Detached

Year to Date

April

Single-Family Detached

Year to Date

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

95

83

- 12.6%

353

296

- 16.1%

New Listings

130

103

- 20.8%

506

359

- 29.1%

Closed Sales

93

69

- 25.8%

324

229

- 29.3%

Closed Sales

119

84

- 29.4%

424

279

- 34.2%

Median Sales Price*

$775,000

$925,000

+ 19.4%

$681,500

$870,000

+ 27.7%

Median Sales Price*

$642,879

$808,625

+ 25.8%

$600,000

$770,575

+ 28.4%

Average Sales Price*

$942,393

$1,205,160

+ 27.9%

$826,202

$1,170,494

+ 41.7%

Average Sales Price*

$705,994

$936,897

+ 32.7%

$678,621

$875,392

+ 29.0%

98.8%

103.2%

+ 4.5%

97.7%

100.9%

+ 3.3%

Percent of Original List Price Received*

101.4%

102.0%

+ 0.6%

99.9%

101.6%

+ 1.7%

Days on Market Until Sale

31

11

- 64.5%

33

12

- 63.6%

Days on Market Until Sale

13

9

- 30.8%

22

15

- 31.8%

Inventory of Homes for Sale

65

41

- 36.9%

--

--

--

Inventory of Homes for Sale

73

50

- 31.5%

--

--

--

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

April

Year to Date

April

Year to Date

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

61

29

- 52.5%

219

135

- 38.4%

New Listings

33

33

0.0%

127

122

- 3.9%

Closed Sales

69

30

- 56.5%

193

124

- 35.8%

Closed Sales

28

31

+ 10.7%

112

107

- 4.5%

Median Sales Price*

$300,000

$373,000

+ 24.3%

$295,000

$370,500

+ 25.6%

Median Sales Price*

$331,000

$480,000

+ 45.0%

$324,450

$365,000

+ 12.5%

Average Sales Price*

$396,908

$531,050

+ 33.8%

$405,204

$493,610

+ 21.8%

Average Sales Price*

$330,227

$461,034

+ 39.6%

$317,749

$399,235

+ 25.6%

99.8%

104.1%

+ 4.3%

98.6%

102.2%

+ 3.7%

Percent of Original List Price Received*

101.3%

101.7%

+ 0.4%

99.5%

102.8%

+ 3.3%

Days on Market Until Sale

23

10

- 56.5%

34

9

- 73.5%

Days on Market Until Sale

11

5

- 54.5%

22

12

- 45.5%

Inventory of Homes for Sale

24

9

- 62.5%

--

--

--

Inventory of Homes for Sale

17

8

- 52.9%

--

--

--

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 $1,000,000

* 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 —

$350,000

$800,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Mount Pleasant —

$700,000 $800,000

$600,000 $250,000

$400,000

$350,000

$300,000

$600,000

All MLS — Upper Mount Pleasant —

$300,000

$500,000 $250,000

$400,000

$400,000

$200,000

$200,000

$300,000 $200,000

$0 1-2012

$150,000

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

$150,000

$200,000

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of May 9, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of May 9, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – April 2022

Local Market Update – April 2022

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 April

Single-Family Detached

Year to Date

April

Single-Family Detached

Year to Date

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

22

22

0.0%

108

86

- 20.4%

New Listings

10

4

- 60.0%

24

21

- 12.5%

Closed Sales

35

21

- 40.0%

100

67

- 33.0%

Closed Sales

6

7

+ 16.7%

17

18

+ 5.9%

Median Sales Price*

$1,550,000

$1,875,000

+ 21.0%

$1,550,000

$1,750,000

+ 12.9%

Median Sales Price*

$2,492,500

$3,025,000

+ 21.4%

$3,000,000

$3,750,000

+ 25.0%

Average Sales Price*

$1,947,968

$2,328,675

+ 19.5%

$1,772,454

$2,119,936

+ 19.6%

Average Sales Price*

$2,580,833

$3,540,571

+ 37.2%

$3,061,634

$4,043,840

+ 32.1%

96.5%

99.5%

+ 3.1%

96.0%

98.3%

+ 2.4%

Percent of Original List Price Received*

95.1%

94.4%

- 0.7%

96.2%

94.5%

- 1.8%

Days on Market Until Sale

42

18

- 57.1%

43

21

- 51.2%

Days on Market Until Sale

109

32

- 70.6%

121

32

- 73.6%

Inventory of Homes for Sale

24

24

0.0%

--

--

--

Inventory of Homes for Sale

15

6

- 60.0%

--

--

--

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

April

Year to Date

April

Year to Date

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

16

12

- 25.0%

49

45

- 8.2%

New Listings

1

1

0.0%

4

1

- 75.0%

Closed Sales

16

9

- 43.8%

53

31

- 41.5%

Closed Sales

2

0

- 100.0%

2

2

0.0%

Median Sales Price*

$692,500

$902,000

+ 30.3%

$725,000

$851,000

+ 17.4%

Median Sales Price*

$580,000

$0

- 100.0%

$580,000

$1,812,500

+ 212.5%

Average Sales Price*

$772,344

$1,010,167

+ 30.8%

$753,976

$948,303

+ 25.8%

Average Sales Price*

$580,000

$0

- 100.0%

$580,000

$1,812,500

+ 212.5%

98.1%

104.0%

+ 6.0%

96.6%

98.8%

+ 2.3%

Percent of Original List Price Received*

83.5%

0.0%

- 100.0%

83.5%

86.9%

+ 4.1%

Days on Market Until Sale

56

15

- 73.2%

96

47

- 51.0%

Days on Market Until Sale

0

0

--

0

67

--

Inventory of Homes for Sale

23

15

- 34.8%

--

--

--

Inventory of Homes for Sale

2

1

- 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 —

$2,000,000

Single-Family Detached All MLS — Isle of Palms —

$800,000

$4,000,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Sullivan's Island —

All MLS — Sullivan's Island —

$4,000,000

$700,000 $1,500,000

$600,000

$3,000,000

$3,000,000

$2,000,000

$2,000,000

$1,000,000

$1,000,000

$500,000 $1,000,000 $400,000 $300,000

$500,000

$200,000 $0 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of May 9, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$0 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$0 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of May 9, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – April 2022

Local Market Update – April 2022

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 April

Single-Family Detached

Year to Date

April

Single-Family Detached

Year to Date

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

80

64

- 20.0%

250

249

- 0.4%

New Listings

170

156

- 8.2%

505

542

+ 7.3%

Closed Sales

54

60

+ 11.1%

209

208

- 0.5%

Closed Sales

114

116

+ 1.8%

415

453

+ 9.2%

Median Sales Price*

$435,000

$582,500

+ 33.9%

$428,000

$535,500

+ 25.1%

Median Sales Price*

$398,000

$465,000

+ 16.8%

$360,000

$425,000

+ 18.1%

Average Sales Price*

$538,265

$723,428

+ 34.4%

$507,437

$606,987

+ 19.6%

Average Sales Price*

$439,248

$573,625

+ 30.6%

$403,366

$489,155

+ 21.3%

97.0%

101.8%

+ 4.9%

97.9%

101.2%

+ 3.4%

Percent of Original List Price Received*

100.3%

102.8%

+ 2.5%

98.4%

100.7%

+ 2.3%

Days on Market Until Sale

32

12

- 62.5%

28

17

- 39.3%

Days on Market Until Sale

22

17

- 22.7%

27

17

- 37.0%

Inventory of Homes for Sale

48

30

- 37.5%

--

--

--

Inventory of Homes for Sale

84

58

- 31.0%

--

--

--

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

April

Year to Date

April

Year to Date

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

31

31

0.0%

89

97

+ 9.0%

New Listings

50

44

- 12.0%

187

154

- 17.6%

Closed Sales

14

30

+ 114.3%

79

83

+ 5.1%

Closed Sales

63

45

- 28.6%

175

153

- 12.6%

Median Sales Price*

$251,000

$300,000

+ 19.5%

$226,000

$279,900

+ 23.8%

Median Sales Price*

$250,000

$328,500

+ 31.4%

$229,000

$325,000

+ 41.9%

Average Sales Price*

$259,743

$329,637

+ 26.9%

$243,804

$299,277

+ 22.8%

Average Sales Price*

$234,107

$325,697

+ 39.1%

$224,914

$312,349

+ 38.9%

98.7%

103.4%

+ 4.8%

96.8%

102.0%

+ 5.4%

Percent of Original List Price Received*

99.7%

103.3%

+ 3.6%

98.8%

102.1%

+ 3.3%

Days on Market Until Sale

25

5

- 80.0%

42

13

- 69.0%

Days on Market Until Sale

14

11

- 21.4%

25

13

- 48.0%

Inventory of Homes for Sale

12

3

- 75.0%

--

--

--

Inventory of Homes for Sale

27

8

- 70.4%

--

--

--

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 — James Island —

$600,000

Single-Family Detached All MLS — James Island —

$300,000

$500,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — West Ashley Area —

All MLS — West Ashley Area —

$300,000 $275,000

$500,000 $250,000

$400,000

$200,000

$300,000

$250,000

$400,000

$225,000 $200,000

$300,000

$175,000

$200,000

$150,000

$200,000

$150,000 $100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of May 9, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$125,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of May 9, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


132 East Bay Street, Charleston, SC 29401 309 Coleman Boulevard, Mount Pleasant, SC 29464

843.628.0008 | TheCassinaGroup.com

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