August 2020 Real Estate Report | The Cassina Group

Page 1

AUGUST 2020

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 – August 2020

Local Market Update – August 2020

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 August

Single-Family Detached

Year to Date

August

Single-Family Detached

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

29

37

+ 27.6%

322

326

+ 1.2%

New Listings

21

32

+ 52.4%

197

230

+ 16.8%

Closed Sales

17

23

+ 35.3%

125

139

+ 11.2%

Closed Sales

14

17

+ 21.4%

139

135

- 2.9%

Median Sales Price*

$946,700

$589,000

- 37.8%

$1,025,000

$765,000

- 25.4%

Median Sales Price*

$478,500

$450,000

- 6.0%

$450,000

$520,000

+ 15.6%

Average Sales Price*

$1,326,578

$875,765

- 34.0%

$1,404,380

$1,146,872

- 18.3%

Average Sales Price*

$484,470

$519,796

+ 7.3%

$479,682

$569,894

+ 18.8%

87.1%

94.4%

+ 8.4%

90.2%

90.1%

- 0.1%

Percent of Original List Price Received*

91.9%

95.8%

+ 4.2%

90.8%

92.9%

+ 2.3%

Days on Market Until Sale

78

94

+ 20.5%

89

114

+ 28.1%

Days on Market Until Sale

48

35

- 27.1%

66

57

- 13.6%

Inventory of Homes for Sale

214

214

0.0%

--

--

--

Inventory of Homes for Sale

84

85

+ 1.2%

--

--

--

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

August

Year to Date

August

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

22

30

+ 36.4%

299

293

- 2.0%

New Listings

4

7

+ 75.0%

26

29

+ 11.5%

Closed Sales

20

23

+ 15.0%

122

120

- 1.6%

Closed Sales

2

3

+ 50.0%

15

18

+ 20.0%

Median Sales Price*

$572,500

$513,000

- 10.4%

$595,000

$592,500

- 0.4%

Median Sales Price*

$285,000

$275,000

- 3.5%

$280,000

$289,000

+ 3.2%

Average Sales Price*

$741,075

$573,539

- 22.6%

$723,568

$820,665

+ 13.4%

Average Sales Price*

$285,000

$272,667

- 4.3%

$351,590

$386,306

+ 9.9%

89.2%

92.7%

+ 3.9%

91.9%

92.1%

+ 0.2%

Percent of Original List Price Received*

87.6%

97.1%

+ 10.8%

92.2%

94.9%

+ 2.9%

Days on Market Until Sale

95

128

+ 34.7%

91

126

+ 38.5%

Days on Market Until Sale

304

23

- 92.4%

103

75

- 27.2%

Inventory of Homes for Sale

189

180

- 4.8%

--

--

--

Inventory of Homes for Sale

13

14

+ 7.7%

--

--

--

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

$600,000

$600,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —

$500,000

$500,000 $400,000

$1,000,000

$500,000 $400,000

$800,000 $400,000

$300,000

$600,000

$300,000 $300,000

$400,000

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

$200,000

$200,000

$200,000

$200,000 $0 1-2010

All MLS — Upper Charleston Peninsula —

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – August 2020

Local Market Update – August 2020

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 August

Single-Family Detached

Year to Date

August

Single-Family Detached

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

95

94

- 1.1%

891

784

- 12.0%

New Listings

119

147

+ 23.5%

1,154

1,066

- 7.6%

Closed Sales

89

82

- 7.9%

585

602

+ 2.9%

Closed Sales

127

131

+ 3.1%

798

806

+ 1.0%

Median Sales Price*

$525,000

$653,125

+ 24.4%

$570,000

$600,000

+ 5.3%

Median Sales Price*

$538,000

$554,000

+ 3.0%

$514,520

$535,000

+ 4.0%

Average Sales Price*

$606,941

$791,633

+ 30.4%

$692,591

$719,606

+ 3.9%

Average Sales Price*

$604,460

$628,564

+ 4.0%

$570,006

$596,749

+ 4.7%

93.5%

96.5%

+ 3.2%

94.5%

95.5%

+ 1.1%

Percent of Original List Price Received*

96.2%

97.0%

+ 0.8%

96.5%

97.2%

+ 0.7%

Days on Market Until Sale

60

39

- 35.0%

61

57

- 6.6%

Days on Market Until Sale

79

50

- 36.7%

70

61

- 12.9%

Inventory of Homes for Sale

325

172

- 47.1%

--

--

--

Inventory of Homes for Sale

377

217

- 42.4%

--

--

--

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.

* 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

August

Year to Date

August

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

30

31

+ 3.3%

299

348

+ 16.4%

New Listings

36

37

+ 2.8%

335

303

- 9.6%

Closed Sales

40

43

+ 7.5%

233

249

+ 6.9%

Closed Sales

43

48

+ 11.6%

244

229

- 6.1%

Median Sales Price*

$242,250

$255,000

+ 5.3%

$250,000

$245,500

- 1.8%

Median Sales Price*

$309,900

$319,500

+ 3.1%

$307,750

$310,000

+ 0.7%

Average Sales Price*

$355,164

$333,752

- 6.0%

$351,921

$302,872

- 13.9%

Average Sales Price*

$299,579

$317,889

+ 6.1%

$296,319

$308,173

+ 4.0%

100.1%

97.0%

- 3.1%

96.1%

96.2%

+ 0.1%

Percent of Original List Price Received*

96.1%

97.3%

+ 1.2%

96.4%

97.1%

+ 0.7%

Days on Market Until Sale

44

45

+ 2.3%

54

50

- 7.4%

Days on Market Until Sale

75

41

- 45.3%

61

57

- 6.6%

Inventory of Homes for Sale

98

63

- 35.7%

--

--

--

Inventory of Homes for Sale

108

44

- 59.3%

--

--

--

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 $700,000

* 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

$600,000

$500,000

$300,000

$400,000

$250,000

$300,000

$200,000

$200,000

$150,000

$220,000

$500,000

$200,000 $400,000 $180,000 $300,000 $160,000 $200,000

$100,000 1-2010

$140,000

1-2012

1-2014

1-2016

1-2018

1-2020

$120,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – August 2020

Local Market Update – August 2020

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 August

Single-Family Detached

Year to Date

August

Single-Family Detached

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

24

39

+ 62.5%

233

211

- 9.4%

New Listings

5

3

- 40.0%

51

48

- 5.9%

Closed Sales

12

42

+ 250.0%

126

149

+ 18.3%

Closed Sales

3

4

+ 33.3%

33

30

- 9.1%

Median Sales Price*

$1,716,750

$1,287,500

- 25.0%

$1,078,750

$1,100,000

+ 2.0%

Median Sales Price*

$2,800,000

$1,692,500

- 39.6%

$2,000,000

$2,307,500

+ 15.4%

Average Sales Price*

$2,033,208

$1,439,962

- 29.2%

$1,421,768

$1,358,912

- 4.4%

Average Sales Price*

$2,873,333

$1,915,000

- 33.4%

$2,293,420

$2,383,083

+ 3.9%

89.8%

92.5%

+ 3.0%

91.8%

91.8%

0.0%

98.9%

87.7%

- 11.3%

88.6%

91.9%

+ 3.7%

Days on Market Until Sale

123

149

+ 21.1%

101

121

+ 19.8%

Days on Market Until Sale

16

143

+ 793.8%

99

80

- 19.2%

Inventory of Homes for Sale

160

57

- 64.4%

--

--

--

Inventory of Homes for Sale

29

16

- 44.8%

--

--

--

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

August

Year to Date

August

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

14

13

- 7.1%

104

111

+ 6.7%

New Listings

0

0

--

2

3

+ 50.0%

Closed Sales

10

18

+ 80.0%

55

85

+ 54.5%

Closed Sales

0

0

--

3

3

0.0%

Median Sales Price*

$496,000

$569,000

+ 14.7%

$479,000

$585,000

+ 22.1%

Median Sales Price*

$0

$0

--

$1,735,000

$1,600,000

- 7.8%

Average Sales Price*

$557,560

$625,806

+ 12.2%

$528,274

$645,087

+ 22.1%

Average Sales Price*

$0

$0

--

$1,397,500

$1,264,077

- 9.5%

93.4%

93.7%

+ 0.3%

94.9%

93.7%

- 1.3%

Percent of Original List Price Received*

0.0%

0.0%

--

96.5%

89.5%

- 7.3%

Days on Market Until Sale

179

95

- 46.9%

102

104

+ 2.0%

Days on Market Until Sale

0

0

--

170

353

+ 107.6%

Inventory of Homes for Sale

77

55

- 28.6%

--

--

--

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 —

$1,200,000

$700,000

$1,000,000

$600,000

$800,000

$500,000

Townhouse-Condo Attached

Single-Family Detached All MLS — Isle of Palms —

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 $1,500,000

$600,000

$400,000

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

$400,000

$300,000

$200,000

$200,000

$0 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

$1,000,000

$500,000

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$0 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$0 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – August 2020

Local Market Update – August 2020

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 August

Single-Family Detached

Year to Date

August

Single-Family Detached

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

83

67

- 19.3%

736

600

- 18.5%

New Listings

162

149

- 8.0%

1,335

1,345

+ 0.7%

Closed Sales

65

62

- 4.6%

500

502

+ 0.4%

Closed Sales

117

150

+ 28.2%

908

1,073

+ 18.2%

Median Sales Price*

$356,000

$417,000

+ 17.1%

$360,000

$385,000

+ 6.9%

Median Sales Price*

$317,500

$331,250

+ 4.3%

$315,000

$322,000

+ 2.2%

Average Sales Price*

$412,795

$596,458

+ 44.5%

$444,845

$471,218

+ 5.9%

Average Sales Price*

$360,683

$375,980

+ 4.2%

$344,794

$365,966

+ 6.1%

97.1%

97.1%

0.0%

95.7%

96.2%

+ 0.5%

Percent of Original List Price Received*

94.3%

97.6%

+ 3.5%

95.5%

96.7%

+ 1.3%

Days on Market Until Sale

46

24

- 47.8%

50

44

- 12.0%

Days on Market Until Sale

53

27

- 49.1%

48

42

- 12.5%

Inventory of Homes for Sale

212

83

- 60.8%

--

--

--

Inventory of Homes for Sale

414

170

- 58.9%

--

--

--

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.

* 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

August

Year to Date

August

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

22

21

- 4.5%

221

198

- 10.4%

New Listings

59

49

- 16.9%

454

380

- 16.3%

Closed Sales

14

22

+ 57.1%

174

149

- 14.4%

Closed Sales

64

41

- 35.9%

355

325

- 8.5%

Median Sales Price*

$212,000

$210,400

- 0.8%

$205,000

$207,000

+ 1.0%

Median Sales Price*

$211,995

$214,000

+ 0.9%

$210,000

$214,105

+ 2.0%

Average Sales Price*

$211,063

$239,623

+ 13.5%

$216,527

$205,495

- 5.1%

Average Sales Price*

$211,360

$218,187

+ 3.2%

$210,445

$215,183

+ 2.3%

100.1%

98.5%

- 1.6%

97.1%

96.7%

- 0.4%

Percent of Original List Price Received*

96.9%

98.7%

+ 1.9%

97.3%

97.1%

- 0.2%

Days on Market Until Sale

12

39

+ 225.0%

41

41

0.0%

Days on Market Until Sale

39

35

- 10.3%

43

50

+ 16.3%

Inventory of Homes for Sale

56

30

- 46.4%

--

--

--

Inventory of Homes for Sale

122

52

- 57.4%

--

--

--

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 —

$400,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

$240,000

All MLS — West Ashley Area —

$350,000

$220,000

$325,000

$200,000

$300,000

$180,000

$275,000

$160,000

$250,000

$140,000

$225,000

$120,000

$200,000

Rolling 12-Month Calculation

$240,000

$220,000

$350,000

$300,000

All MLS — West Ashley Area —

$200,000

$180,000 $250,000

$160,000

$200,000

$150,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$175,000 1-2010

$140,000

1-2012

1-2014

1-2016

1-2018

1-2020

$120,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of September 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 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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