August 2021 Real Estate Report | The Cassina Group

Page 1

AUGUST 2021

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 2021

Local Market Update – August 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

37

30

- 18.9%

325

304

- 6.5%

New Listings

32

24

- 25.0%

230

195

- 15.2%

Closed Sales

23

26

+ 13.0%

140

286

+ 104.3%

Closed Sales

17

15

- 11.8%

137

185

+ 35.0%

Median Sales Price*

$589,000

$977,500

+ 66.0%

$765,000

$992,500

+ 29.7%

Median Sales Price*

$450,000

$650,000

+ 44.4%

$520,000

$599,900

+ 15.4%

Average Sales Price*

$875,765

$1,228,885

+ 40.3%

$1,146,944

$1,390,972

+ 21.3%

Average Sales Price*

$519,796

$795,879

+ 53.1%

$566,538

$611,461

+ 7.9%

94.4%

94.7%

+ 0.3%

90.1%

94.1%

+ 4.4%

Percent of Original List Price Received*

95.8%

96.2%

+ 0.4%

93.0%

96.0%

+ 3.2%

Days on Market Until Sale

94

63

- 33.0%

113

89

- 21.2%

Days on Market Until Sale

35

59

+ 68.6%

56

64

+ 14.3%

Inventory of Homes for Sale

224

76

- 66.1%

--

--

--

Inventory of Homes for Sale

92

35

- 62.0%

--

--

--

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

August

Year to Date

August

Year to Date

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

30

40

+ 33.3%

293

304

+ 3.8%

New Listings

7

4

- 42.9%

29

37

+ 27.6%

Closed Sales

23

26

+ 13.0%

120

236

+ 96.7%

Closed Sales

3

4

+ 33.3%

18

23

+ 27.8%

Median Sales Price*

$513,000

$543,500

+ 5.9%

$592,500

$649,500

+ 9.6%

Median Sales Price*

$275,000

$348,000

+ 26.5%

$289,000

$455,000

+ 57.4%

Average Sales Price*

$573,539

$682,827

+ 19.1%

$820,665

$806,882

- 1.7%

Average Sales Price*

$272,667

$429,925

+ 57.7%

$386,306

$541,596

+ 40.2%

92.7%

96.1%

+ 3.7%

92.1%

94.2%

+ 2.3%

Percent of Original List Price Received*

97.1%

93.6%

- 3.6%

94.9%

97.6%

+ 2.8%

Days on Market Until Sale

128

77

- 39.8%

126

98

- 22.2%

Days on Market Until Sale

23

26

+ 13.0%

75

33

- 56.0%

Inventory of Homes for Sale

194

105

- 45.9%

--

--

--

Inventory of Homes for Sale

16

10

- 37.5%

--

--

--

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.

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 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of September 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of September 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – August 2021

Local Market Update – August 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

94

81

- 13.8%

784

725

- 7.5%

New Listings

147

109

- 25.9%

1,065

980

- 8.0%

Closed Sales

82

71

- 13.4%

607

682

+ 12.4%

Closed Sales

134

111

- 17.2%

809

908

+ 12.2%

Median Sales Price*

$653,125

$800,000

+ 22.5%

$600,000

$725,000

+ 20.8%

Median Sales Price*

$577,000

$655,000

+ 13.5%

$535,000

$627,161

+ 17.2%

Average Sales Price*

$807,864

$939,981

+ 16.4%

$721,545

$891,742

+ 23.6%

Average Sales Price*

$630,436

$745,944

+ 18.3%

$597,176

$710,809

+ 19.0%

96.5%

98.2%

+ 1.8%

95.6%

98.8%

+ 3.3%

Percent of Original List Price Received*

97.0%

101.5%

+ 4.6%

97.2%

100.9%

+ 3.8%

Days on Market Until Sale

39

21

- 46.2%

57

24

- 57.9%

Days on Market Until Sale

50

12

- 76.0%

61

17

- 72.1%

Inventory of Homes for Sale

183

57

- 68.9%

--

--

--

Inventory of Homes for Sale

234

79

- 66.2%

--

--

--

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

31

70

+ 125.8%

348

442

+ 27.0%

New Listings

37

25

- 32.4%

303

257

- 15.2%

Closed Sales

44

52

+ 18.2%

250

385

+ 54.0%

Closed Sales

48

26

- 45.8%

229

233

+ 1.7%

Median Sales Price*

$252,500

$315,000

+ 24.8%

$245,250

$300,000

+ 22.3%

Median Sales Price*

$319,500

$382,450

+ 19.7%

$310,000

$332,500

+ 7.3%

Average Sales Price*

$331,280

$457,005

+ 38.0%

$302,561

$408,602

+ 35.0%

Average Sales Price*

$317,889

$379,010

+ 19.2%

$308,173

$337,588

+ 9.5%

96.9%

99.8%

+ 3.0%

96.1%

99.8%

+ 3.9%

Percent of Original List Price Received*

97.3%

101.0%

+ 3.8%

97.1%

100.8%

+ 3.8%

Days on Market Until Sale

44

19

- 56.8%

50

23

- 54.0%

Days on Market Until Sale

41

7

- 82.9%

57

14

- 75.4%

Inventory of Homes for Sale

69

30

- 56.5%

--

--

--

Inventory of Homes for Sale

44

15

- 65.9%

--

--

--

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 $800,000

* 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 —

$300,000

$700,000

$275,000

$600,000

$250,000

$500,000

$225,000

Single-Family Detached All MLS — Lower Mount Pleasant —

$700,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Mount Pleasant —

$600,000

All MLS — Upper Mount Pleasant —

$350,000

$300,000

$500,000 $250,000 $400,000

$400,000

$200,000 $175,000

$200,000

$150,000

$100,000 1-2011

$200,000 $300,000

$300,000

1-2013

1-2015

1-2017

1-2019

1-2021

$125,000 1-2011

$150,000

$200,000

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of September 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of September 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – August 2021

Local Market Update – August 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

39

29

- 25.6%

211

236

+ 11.8%

New Listings

3

5

+ 66.7%

47

47

0.0%

Closed Sales

43

22

- 48.8%

151

197

+ 30.5%

Closed Sales

4

4

0.0%

30

35

+ 16.7%

Median Sales Price*

$1,325,000

$1,517,500

+ 14.5%

$1,134,500

$1,700,000

+ 49.8%

Median Sales Price*

$1,692,500

$4,131,500

+ 144.1%

$2,307,500

$3,188,775

+ 38.2%

Average Sales Price*

$1,448,335

$1,649,102

+ 13.9%

$1,372,371

$1,988,499

+ 44.9%

Average Sales Price*

$1,915,000

$3,921,750

+ 104.8%

$2,383,083

$3,408,851

+ 43.0%

92.7%

96.2%

+ 3.8%

91.9%

97.1%

+ 5.7%

Percent of Original List Price Received*

87.7%

95.6%

+ 9.0%

91.9%

96.2%

+ 4.7%

Days on Market Until Sale

146

22

- 84.9%

119

30

- 74.8%

Days on Market Until Sale

143

54

- 62.2%

80

82

+ 2.5%

Inventory of Homes for Sale

73

37

- 49.3%

--

--

--

Inventory of Homes for Sale

18

10

- 44.4%

--

--

--

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

13

7

- 46.2%

111

88

- 20.7%

New Listings

0

0

--

3

5

+ 66.7%

Closed Sales

18

4

- 77.8%

85

84

- 1.2%

Closed Sales

0

0

--

3

3

0.0%

Median Sales Price*

$569,000

$924,750

+ 62.5%

$585,000

$718,000

+ 22.7%

Median Sales Price*

$0

$0

--

$1,600,000

$580,000

- 63.8%

Average Sales Price*

$625,806

$979,875

+ 56.6%

$645,087

$744,217

+ 15.4%

Average Sales Price*

$0

$0

--

$1,264,077

$578,333

- 54.2%

93.7%

100.0%

+ 6.7%

93.7%

98.0%

+ 4.6%

Percent of Original List Price Received*

0.0%

0.0%

--

89.5%

83.2%

- 7.0%

Days on Market Until Sale

95

177

+ 86.3%

104

75

- 27.9%

Days on Market Until Sale

0

0

--

353

23

- 93.5%

Inventory of Homes for Sale

55

25

- 54.5%

--

--

--

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

Historical Median Sales Price

Rolling 12-Month Calculation

Townhouse-Condo Attached

Single-Family Detached

All MLS — Isle of Palms —

$1,750,000

$700,000

$1,250,000

$600,000

$1,000,000

$500,000

$750,000

$400,000

$500,000

$300,000

$250,000

$200,000

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of September 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

Rolling 12-Month Calculation

Townhouse-Condo Attached

Single-Family Detached All MLS — Isle of Palms —

$800,000

$1,500,000

$0 1-2011

* 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.

All MLS — Sullivan's Island —

$4,000,000

$4,000,000

$3,000,000

$3,000,000

$2,000,000

$2,000,000

$1,000,000

$1,000,000

$0 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

All MLS — Sullivan's Island —

$0 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of September 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – August 2021

Local Market Update – August 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

67

58

- 13.4%

600

550

- 8.3%

New Listings

150

157

+ 4.7%

1,344

1,121

- 16.6%

Closed Sales

64

65

+ 1.6%

504

493

- 2.2%

Closed Sales

151

109

- 27.8%

1,076

927

- 13.8%

Median Sales Price*

$422,000

$450,000

+ 6.6%

$385,000

$450,000

+ 16.9%

Median Sales Price*

$330,000

$415,000

+ 25.8%

$322,000

$385,000

+ 19.6%

Average Sales Price*

$611,178

$567,155

- 7.2%

$473,585

$548,533

+ 15.8%

Average Sales Price*

$375,019

$476,104

+ 27.0%

$366,368

$444,253

+ 21.3%

97.2%

99.2%

+ 2.1%

96.2%

99.1%

+ 3.0%

Percent of Original List Price Received*

97.7%

99.0%

+ 1.3%

96.7%

99.5%

+ 2.9%

Days on Market Until Sale

23

14

- 39.1%

44

20

- 54.5%

Days on Market Until Sale

26

14

- 46.2%

42

19

- 54.8%

Inventory of Homes for Sale

93

34

- 63.4%

--

--

--

Inventory of Homes for Sale

209

120

- 42.6%

--

--

--

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.

* 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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

21

30

+ 42.9%

198

219

+ 10.6%

New Listings

49

60

+ 22.4%

380

414

+ 8.9%

Closed Sales

22

18

- 18.2%

150

198

+ 32.0%

Closed Sales

41

45

+ 9.8%

327

363

+ 11.0%

Median Sales Price*

$210,400

$199,250

- 5.3%

$206,400

$222,750

+ 7.9%

Median Sales Price*

$214,000

$260,000

+ 21.5%

$214,105

$245,000

+ 14.4%

Average Sales Price*

$239,623

$237,050

- 1.1%

$205,055

$241,032

+ 17.5%

Average Sales Price*

$218,187

$265,809

+ 21.8%

$215,339

$239,983

+ 11.4%

98.5%

100.5%

+ 2.0%

96.7%

99.4%

+ 2.8%

Percent of Original List Price Received*

98.7%

101.3%

+ 2.6%

97.1%

100.1%

+ 3.1%

Days on Market Until Sale

39

5

- 87.2%

41

22

- 46.3%

Days on Market Until Sale

35

6

- 82.9%

50

17

- 66.0%

Inventory of Homes for Sale

37

18

- 51.4%

--

--

--

Inventory of Homes for Sale

64

31

- 51.6%

--

--

--

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

* 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 —

$500,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

$275,000

Rolling 12-Month Calculation

All MLS — West Ashley Area —

$400,000

$250,000

All MLS — West Ashley Area —

$260,000 $240,000

$350,000

$400,000

$225,000

$220,000 $300,000

$200,000

$200,000

$300,000 $175,000

$180,000

$250,000

$150,000

$200,000

$160,000 $200,000

$125,000 $100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

$140,000

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of September 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$150,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$120,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of September 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 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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