April 2023 Real Estate Report | The Cassina Group

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APRIL 2023

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

Local Market Update – April 2023

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 30 22 - 26.7%114 84 - 26.3% Closed Sales 27 11 - 59.3%105 54 - 48.6% Median Sales Price* $1,425,000 $1,990,000 + 39.6%$1,180,000 $1,957,500 + 65.9% Average Sales Price* $1,821,185 $2,674,455 + 46.9%$1,642,310 $2,221,819 + 35.3% Percent of Original List Price Received*97.2% 97.4% + 0.2%96.3% 93.1% - 3.3% Days on Market Until Sale 33 26 - 21.2%52 48 - 7.7% Inventory of Homes for Sale 43 50 + 16.3%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 37 23 - 37.8%133 83 - 37.6% Closed Sales 38 16 - 57.9%116 53 - 54.3% Median Sales Price* $688,000 $699,500 + 1.7%$665,000 $682,000 + 2.6% Average Sales Price* $962,379 $759,344 - 21.1%$919,878 $760,132 - 17.4% Percent of Original List Price Received*97.5% 98.5% + 1.0%96.9% 96.5% - 0.4% Days on Market Until Sale 57 17 - 70.2%71 33 - 53.5% Inventory of Homes for Sale 35 52 + 48.6%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown
April Year to Date * 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. Area 51 April Year to Date * 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 Downtown Charleston — Downtown Charleston — Current as of May 9, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 22 20 - 9.1% 99 66 - 33.3% Closed Sales 18 12 - 33.3%76 43 - 43.4% Median Sales Price* $792,500 $720,000 - 9.1%$650,000 $705,000 + 8.5% Average Sales Price* $795,944 $744,792 - 6.4%$721,921 $826,070 + 14.4% Percent of Original List Price Received*100.1% 96.5% - 3.6%99.0% 94.0% - 5.1% Days on Market Until Sale 18 17 - 5.6% 45 39 - 13.3% Inventory of Homes for Sale 25 19 - 24.0% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 9 0 - 100.0%15 13 - 13.3% Closed Sales 4 5 + 25.0%11 12 + 9.1% Median Sales Price* $325,000 $505,000 + 55.4%$355,000 $477,500 + 34.5% Average Sales Price* $432,500 $568,900 + 31.5%$545,000 $500,167 - 8.2% Percent of Original List Price Received*95.6% 97.6% + 2.1%95.6% 98.6% + 3.1% Days on Market Until Sale 54 14 - 74.1%128 28 - 78.1% Inventory of Homes for Sale 7 3 - 57.1% All MLS — All MLS —
Local Market Update – April 2023
Charleston
A Research Tool Provided by the Charleston Trident Association of REALTORS®
April Year to Date * 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. Area 52 April Year to Date * 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 Upper Charleston Peninsula — Upper Charleston Peninsula — Current as of May 9, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
Upper Charleston Peninsula

Single-Family Detached

Local Market Update – April 2023

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 83 62 - 25.3%297 221 - 25.6% Closed Sales 70 34 - 51.4%233 138 - 40.8% Median Sales Price* $925,000 $890,000 - 3.8%$870,000 $879,500 + 1.1% Average Sales Price* $1,199,400 $1,056,647 - 11.9%$1,166,224 $1,239,316 + 6.3% Percent of Original List Price Received*103.2% 95.7% - 7.3%100.9% 95.4% - 5.5% Days on Market Until Sale 11 18 + 63.6%12 30 + 150.0% Inventory of Homes for Sale 42 75 + 78.6%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 30 33 + 10.0%136 94 - 30.9% Closed Sales 31 23 - 25.8%125 71 - 43.2% Median Sales Price* $371,000 $443,500 + 19.5%$370,000 $390,000 + 5.4% Average Sales Price* $525,371 $615,863 + 17.2%$492,501 $479,109 - 2.7% Percent of Original List Price Received*104.0% 97.8% - 6.0%102.2% 96.5% - 5.6% Days on Market Until Sale 10 26 + 160.0%9 26 + 188.9% Inventory of Homes for Sale 14 18 + 28.6%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
Local Market Update – April 2023
April Year to Date * 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. Area 42 April Year to Date * 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
Attached Lower Mount Pleasant — Lower Mount Pleasant — Current as of May 9, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 104 100 - 3.8%363 334 - 8.0% Closed Sales 90 70 - 22.2%287 236 - 17.8% Median Sales Price* $814,180 $911,033 + 11.9%$775,000 $845,000 + 9.0% Average Sales Price* $940,976 $1,039,787 + 10.5%$876,704 $952,688 + 8.7% Percent of Original List Price Received*101.8% 99.3% - 2.5%101.6% 96.1% - 5.4% Days on Market Until Sale 9 32 + 255.6%15 44 + 193.3% Inventory of Homes for Sale 64 86 + 34.4%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 33 29 - 12.1%122 92 - 24.6% Closed Sales 31 32 + 3.2%107 80 - 25.2% Median Sales Price* $480,000 $497,500 + 3.6%$365,000 $492,500 + 34.9% Average Sales Price* $461,034 $484,150 + 5.0%$399,235 $477,755 + 19.7% Percent of Original List Price Received*101.7% 98.4% - 3.2%102.8% 97.7% - 5.0% Days on Market Until Sale 5 28 + 460.0%12 31 + 158.3% Inventory of Homes for Sale 12 19 + 58.3%-All MLS — All MLS —
Lower Mount Pleasant
Townhouse-Condo
A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Mount Pleasant April Year to Date * 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. Area 41 April Year to Date * 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 Upper Mount Pleasant — Upper Mount Pleasant — Current as of May 9, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached

Local Market Update – April 2023

Isle of Palms

Single-Family Detached

Local Market Update – April 2023

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 23 15 - 34.8%87 54 - 37.9% Closed Sales 21 15 - 28.6%67 38 - 43.3% Median Sales Price* $1,875,000 $2,600,000 + 38.7%$1,750,000 $2,042,500 + 16.7% Average Sales Price* $2,328,675 $3,094,000 + 32.9%$2,119,936 $2,680,842 + 26.5% Percent of Original List Price Received*99.5% 93.6% - 5.9%98.3% 91.9% - 6.5% Days on Market Until Sale 18 52 + 188.9%21 69 + 228.6% Inventory of Homes for Sale 28 32 + 14.3%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 12 16 + 33.3%45 44 - 2.2% Closed Sales 9 7 - 22.2%31 26 - 16.1% Median Sales Price* $902,000 $901,000 - 0.1%$851,000 $915,000 + 7.5% Average Sales Price* $1,010,167 $1,089,857 + 7.9%$948,303 $1,121,000 + 18.2% Percent of Original List Price Received*104.0% 99.3% - 4.5%98.8% 97.0% - 1.8% Days on Market Until Sale 15 19 + 26.7%51 31 - 39.2% Inventory of Homes for Sale 16 11 - 31.3% All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
April Year to Date * 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. Areas 44 & 45 April Year to Date * 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 Isle of Palms — Isle of Palms — Current as of May 9, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 4 6 + 50.0%21 22 + 4.8% Closed Sales 7 1 - 85.7%18 14 - 22.2% Median Sales Price* $3,025,000 $7,000,000 + 131.4%$3,750,000 $5,272,500 + 40.6% Average Sales Price* $3,540,571 $7,000,000 + 97.7%$4,043,840 $5,759,286 + 42.4% Percent of Original List Price Received*94.4% 107.8% + 14.2%94.5% 95.2% + 0.7% Days on Market Until Sale 32 3 - 90.6%32 80 + 150.0% Inventory of Homes for Sale 7 13 + 85.7%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 1 0 - 100.0%1 0 - 100.0% Closed Sales 0 0 2 1 - 50.0% Median Sales Price* $0 $0 --$1,812,500 $1,375,000 - 24.1% Average Sales Price* $0 $0 --$1,812,500 $1,375,000 - 24.1% Percent of Original List Price Received*0.0% 0.0% 86.9% 98.2% + 13.0% Days on Market Until Sale 0 0 67 38 - 43.3% Inventory of Homes for Sale 1 0 - 100.0%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS® Sullivan's
April Year to Date * 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. Area 43 April Year to Date * 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 Sullivan's Island — Sullivan's Island — Current as of May 9, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
Island

Local Market Update – April 2023

James Island

Single-Family Detached

Local Market Update – April 2023

West Ashley Area

Townhouse-Condo

Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 65 49 - 24.6%250 176 - 29.6% Closed Sales 61 48 - 21.3%210 145 - 31.0% Median Sales Price* $585,000 $623,000 + 6.5%$535,500 $555,000 + 3.6% Average Sales Price* $724,683 $657,676 - 9.2%$607,278 $687,418 + 13.2% Percent of Original List Price Received*101.8% 97.1% - 4.6%101.2% 96.1% - 5.0% Days on Market Until Sale 12 30 + 150.0%16 35 + 118.8% Inventory of Homes for Sale 35 43 + 22.9%-Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 33 16 - 51.5%99 55 - 44.4% Closed Sales 32 10 - 68.8%85 47 - 44.7% Median Sales Price* $300,525 $295,000 - 1.8%$290,000 $304,000 + 4.8% Average Sales Price* $330,034 $310,600 - 5.9%$300,141 $342,755 + 14.2% Percent of Original List Price Received*103.2% 101.4% - 1.7%101.9% 100.3% - 1.6% Days on Market Until Sale 4 4 0.0% 12 12 0.0% Inventory of Homes for Sale 4 6 + 50.0%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
April Year to Date * 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. Area 21 April Year to Date * 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 James Island — James Island — Current as of May 9, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $200,000 $300,000 $400,000 $500,000 $600,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached Single-Family Detached Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 156 107 - 31.4%543 432 - 20.4% Closed Sales 122 117 - 4.1%463 337 - 27.2% Median Sales Price* $465,000 $480,000 + 3.2%$425,218 $467,000 + 9.8% Average Sales Price* $568,159 $541,100 - 4.8%$488,052 $522,735 + 7.1% Percent of Original List Price Received*102.8% 98.2% - 4.5%100.7% 96.8% - 3.9% Days on Market Until Sale 17 24 + 41.2%17 30 + 76.5% Inventory of Homes for Sale 74 78 + 5.4% Key Metrics 20222023 Percent Change 20222023 Percent Change New Listings 44 34 - 22.7%154 123 - 20.1% Closed Sales 46 28 - 39.1%154 88 - 42.9% Median Sales Price* $324,000 $327,500 + 1.1%$323,658 $329,200 + 1.7% Average Sales Price* $322,965 $324,986 + 0.6%$311,619 $328,744 + 5.5% Percent of Original List Price Received*103.5% 100.2% - 3.2%102.2% 97.8% - 4.3% Days on Market Until Sale 11 11 0.0% 13 25 + 92.3% Inventory of Homes for Sale 10 18 + 80.0%-All MLS — All MLS —
A Research Tool Provided by the Charleston Trident Association of REALTORS®
April Year to Date * 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. Areas 11 & 12 April Year to Date * 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
Attached West Ashley Area — West Ashley Area — Current as of May 9, 2023. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $200,000 $250,000 $300,000 $350,000 $400,000 $450,000 $500,000 1-20131-20151-20171-20191-20211-2023 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 1-20131-20151-20171-20191-20211-2023 Townhouse-Condo Attached
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