AUGUST 2018
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 2018 A Research Tool Provided by the Charleston Trident Association of REALTORS®
Downtown Charleston Area 51 August
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
18
31
+ 72.2%
202
277
+ 37.1%
Closed Sales
12
24
+ 100.0%
169
159
- 5.9%
Median Sales Price*
$815,000
$1,429,720
+ 75.4%
$900,000
$975,000
+ 8.3%
Average Sales Price*
$1,366,458
$1,687,043
+ 23.5%
$1,319,858
$1,314,950
- 0.4%
88.0%
89.3%
+ 1.5%
92.4%
91.8%
- 0.6%
Days on Market Until Sale
189
71
- 62.4%
106
93
- 12.3%
Inventory of Homes for Sale
109
145
+ 33.0%
--
--
--
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.
Townhouse-Condo Attached
August
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
22
37
+ 68.2%
224
301
+ 34.4%
Closed Sales
13
13
0.0%
146
123
- 15.8%
Median Sales Price*
$585,000
$1,250,000
+ 113.7%
$550,500
$588,000
+ 6.8%
Average Sales Price*
$686,962
$1,225,395
+ 78.4%
$677,498
$759,211
+ 12.1%
94.5%
94.9%
+ 0.4%
93.8%
94.3%
+ 0.5%
Days on Market Until Sale
107
70
- 34.6%
94
89
- 5.3%
Inventory of Homes for Sale
102
141
+ 38.2%
--
--
--
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.
Historical Median Sales Price Single-Family Detached $1,000,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Downtown Charleston —
All MLS — Downtown Charleston —
$700,000
$600,000
$800,000
$500,000 $600,000 $400,000 $400,000 $300,000 $200,000
$0 1-2008
$200,000
1-2010
1-2012
1-2014
1-2016
1-2018
$100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of September 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2018 A Research Tool Provided by the Charleston Trident Association of REALTORS®
Upper Charleston Peninsula Area 52 August
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
19
25
+ 31.6%
154
193
+ 25.3%
Closed Sales
13
10
- 23.1%
109
123
+ 12.8%
Median Sales Price*
$530,000
$495,000
- 6.6%
$453,000
$507,000
+ 11.9%
Average Sales Price*
$600,235
$515,000
- 14.2%
$490,391
$520,118
+ 6.1%
96.2%
94.2%
- 2.1%
94.8%
93.8%
- 1.1%
Days on Market Until Sale
41
26
- 36.6%
57
53
- 7.0%
Inventory of Homes for Sale
54
67
+ 24.1%
--
--
--
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.
Townhouse-Condo Attached
August
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
0
5
--
33
42
+ 27.3%
Closed Sales
3
2
- 33.3%
20
20
0.0%
Median Sales Price*
$512,000
$314,500
- 38.6%
$355,500
$461,500
+ 29.8%
Average Sales Price*
$475,333
$314,500
- 33.8%
$358,295
$487,328
+ 36.0%
92.3%
95.5%
+ 3.5%
94.6%
95.0%
+ 0.4%
Days on Market Until Sale
61
6
- 90.2%
66
45
- 31.8%
Inventory of Homes for Sale
12
16
+ 33.3%
--
--
--
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 $600,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —
All MLS — Upper Charleston Peninsula —
$500,000
$500,000 $400,000 $400,000 $300,000 $300,000
$200,000
$200,000
$100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of September 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2018 A Research Tool Provided by the Charleston Trident Association of REALTORS®
Lower Mount Pleasant Area 42 August
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
78
102
+ 30.8%
862
825
- 4.3%
Closed Sales
66
72
+ 9.1%
601
589
- 2.0%
Median Sales Price*
$578,625
$520,000
- 10.1%
$518,928
$570,000
+ 9.8%
Average Sales Price*
$696,234
$654,369
- 6.0%
$648,576
$672,068
+ 3.6%
96.1%
94.2%
- 2.0%
95.5%
95.5%
0.0%
Days on Market Until Sale
55
52
- 5.5%
55
51
- 7.3%
Inventory of Homes for Sale
277
239
- 13.7%
--
--
--
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.
Townhouse-Condo Attached
August
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
33
46
+ 39.4%
341
338
- 0.9%
Closed Sales
38
39
+ 2.6%
328
262
- 20.1%
Median Sales Price*
$213,250
$250,000
+ 17.2%
$230,000
$242,500
+ 5.4%
Average Sales Price*
$297,411
$315,237
+ 6.0%
$333,950
$326,742
- 2.2%
96.8%
97.3%
+ 0.5%
96.7%
96.9%
+ 0.2%
Days on Market Until Sale
45
51
+ 13.3%
53
46
- 13.2%
Inventory of Homes for Sale
76
79
+ 3.9%
--
--
--
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 $600,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Lower Mount Pleasant —
All MLS — Lower Mount Pleasant —
$260,000 $240,000
$500,000 $220,000 $400,000
$200,000 $180,000
$300,000
$160,000 $200,000 $140,000 $100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$120,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of September 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2018 A Research Tool Provided by the Charleston Trident Association of REALTORS®
Upper Mount Pleasant Area 41 August
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
139
134
- 3.6%
1,167
1,103
- 5.5%
Closed Sales
77
98
+ 27.3%
721
695
- 3.6%
Median Sales Price*
$508,320
$526,000
+ 3.5%
$475,000
$520,010
+ 9.5%
Average Sales Price*
$581,296
$611,241
+ 5.2%
$524,364
$573,854
+ 9.4%
96.5%
96.2%
- 0.3%
96.9%
96.5%
- 0.4%
Days on Market Until Sale
64
76
+ 18.8%
76
76
0.0%
Inventory of Homes for Sale
465
390
- 16.1%
--
--
--
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.
Townhouse-Condo Attached
August
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
40
48
+ 20.0%
333
346
+ 3.9%
Closed Sales
36
34
- 5.6%
254
240
- 5.5%
Median Sales Price*
$332,139
$302,300
- 9.0%
$311,510
$281,250
- 9.7%
Average Sales Price*
$315,571
$299,076
- 5.2%
$301,021
$290,201
- 3.6%
98.2%
97.1%
- 1.1%
97.5%
97.3%
- 0.2%
Days on Market Until Sale
25
46
+ 84.0%
43
49
+ 14.0%
Inventory of Homes for Sale
90
87
- 3.3%
--
--
--
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 $600,000
Rolling 12-Month Calculation
Townhouse-Condo Attached All MLS — Upper Mount Pleasant —
$350,000
$500,000
$300,000
$400,000
$250,000
$300,000
$200,000
$200,000
$150,000
$100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
All MLS — Upper Mount Pleasant —
$100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of September 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2018 A Research Tool Provided by the Charleston Trident Association of REALTORS®
Isle of Palms Areas 44 & 45 August
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
19
21
+ 10.5%
203
203
0.0%
Closed Sales
15
17
+ 13.3%
145
134
- 7.6%
Median Sales Price*
$930,000
$890,000
- 4.3%
$835,000
$925,000
+ 10.8%
Average Sales Price*
$971,600
$1,182,735
+ 21.7%
$1,055,125
$1,288,682
+ 22.1%
92.1%
92.4%
+ 0.3%
91.6%
92.0%
+ 0.4%
Days on Market Until Sale
131
85
- 35.1%
138
113
- 18.1%
Inventory of Homes for Sale
142
115
- 19.0%
--
--
--
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.
Townhouse-Condo Attached
August
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
8
11
+ 37.5%
101
94
- 6.9%
Closed Sales
8
4
- 50.0%
63
68
+ 7.9%
Median Sales Price*
$605,204
$580,000
- 4.2%
$526,000
$507,500
- 3.5%
Average Sales Price*
$603,176
$592,500
- 1.8%
$533,085
$574,709
+ 7.8%
93.3%
97.1%
+ 4.1%
94.6%
94.3%
- 0.3%
Days on Market Until Sale
287
50
- 82.6%
149
92
- 38.3%
Inventory of Homes for Sale
68
65
- 4.4%
--
--
--
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
Rolling 12-Month Calculation
Townhouse-Condo Attached
Single-Family Detached
All MLS — Isle of Palms —
$1,500,000
$1,250,000
All MLS — Isle of Palms —
$1,000,000
$800,000
$1,000,000 $600,000 $750,000 $400,000 $500,000 $200,000
$250,000
$0 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$0 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of September 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2018 A Research Tool Provided by the Charleston Trident Association of REALTORS®
Sullivan's Island Area 43 August
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
5
7
+ 40.0%
62
66
+ 6.5%
Closed Sales
10
7
- 30.0%
42
49
+ 16.7%
Median Sales Price*
$2,087,500
$2,675,000
+ 28.1%
$1,921,250
$1,963,600
+ 2.2%
Average Sales Price*
$2,052,000
$2,774,429
+ 35.2%
$2,147,071
$2,202,864
+ 2.6%
93.5%
93.5%
0.0%
91.0%
93.9%
+ 3.2%
Days on Market Until Sale
205
105
- 48.8%
132
83
- 37.1%
Inventory of Homes for Sale
29
23
- 20.7%
--
--
--
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.
Townhouse-Condo Attached
August
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
0
0
--
2
6
+ 200.0%
Closed Sales
0
0
--
3
2
- 33.3%
Median Sales Price*
$0
$0
--
$512,500
$487,500
- 4.9%
Average Sales Price*
$0
$0
--
$475,500
$487,500
+ 2.5%
0.0%
0.0%
--
90.4%
97.5%
+ 7.9%
Days on Market Until Sale
0
0
--
216
13
- 94.0%
Inventory of Homes for Sale
1
4
+ 300.0%
--
--
--
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
Rolling 12-Month Calculation
Townhouse-Condo Attached
Single-Family Detached
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 $2,000,000 $1,000,000
$1,000,000
$500,000
$0 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$0 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of September 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2018 A Research Tool Provided by the Charleston Trident Association of REALTORS®
James Island Area 21 August
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
76
86
+ 13.2%
744
687
- 7.7%
Closed Sales
69
54
- 21.7%
534
509
- 4.7%
Median Sales Price*
$360,000
$364,950
+ 1.4%
$349,000
$369,450
+ 5.9%
Average Sales Price*
$444,635
$442,657
- 0.4%
$408,677
$435,937
+ 6.7%
94.9%
96.0%
+ 1.2%
95.9%
97.1%
+ 1.3%
Days on Market Until Sale
46
44
- 4.3%
43
38
- 11.6%
Inventory of Homes for Sale
208
178
- 14.4%
--
--
--
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.
Townhouse-Condo Attached
August
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
29
27
- 6.9%
188
184
- 2.1%
Closed Sales
19
15
- 21.1%
168
154
- 8.3%
Median Sales Price*
$178,000
$219,500
+ 23.3%
$185,000
$196,500
+ 6.2%
Average Sales Price*
$172,342
$207,840
+ 20.6%
$188,886
$197,463
+ 4.5%
96.4%
97.7%
+ 1.3%
96.6%
96.7%
+ 0.1%
Days on Market Until Sale
28
19
- 32.1%
44
47
+ 6.8%
Inventory of Homes for Sale
45
44
- 2.2%
--
--
--
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.
Historical Median Sales Price
Rolling 12-Month Calculation
Townhouse-Condo Attached
Single-Family Detached
All MLS — James Island —
$400,000
All MLS — James Island —
$220,000
$200,000
$350,000
$180,000 $300,000 $160,000 $250,000 $140,000 $200,000
$150,000 1-2008
$120,000
1-2010
1-2012
1-2014
1-2016
1-2018
$100,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of September 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – August 2018 A Research Tool Provided by the Charleston Trident Association of REALTORS®
West Ashley Area Areas 11 & 12 August
Single-Family Detached
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
167
158
- 5.4%
1,270
1,300
+ 2.4%
Closed Sales
134
114
- 14.9%
983
995
+ 1.2%
Median Sales Price*
$292,500
$311,632
+ 6.5%
$292,070
$311,264
+ 6.6%
Average Sales Price*
$324,038
$357,035
+ 10.2%
$317,068
$348,889
+ 10.0%
96.9%
97.3%
+ 0.4%
96.8%
96.8%
0.0%
Days on Market Until Sale
35
36
+ 2.9%
33
38
+ 15.2%
Inventory of Homes for Sale
321
289
- 10.0%
--
--
--
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.
Townhouse-Condo Attached
August
Year to Date
Key Metrics
2017
2018
Percent Change
2017
2018
Percent Change
New Listings
42
62
+ 47.6%
378
379
+ 0.3%
Closed Sales
38
40
+ 5.3%
344
318
- 7.6%
Median Sales Price*
$190,000
$181,950
- 4.2%
$180,500
$181,500
+ 0.6%
Average Sales Price*
$182,726
$184,699
+ 1.1%
$180,973
$184,329
+ 1.9%
97.8%
96.7%
- 1.1%
97.7%
97.6%
- 0.1%
Days on Market Until Sale
23
39
+ 69.6%
35
38
+ 8.6%
Inventory of Homes for Sale
69
71
+ 2.9%
--
--
--
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
Rolling 12-Month Calculation
Townhouse-Condo Attached
Single-Family Detached
All MLS — West Ashley Area —
$320,000
All MLS — West Ashley Area —
$220,000
$300,000 $200,000 $280,000 $180,000
$260,000 $240,000
$160,000
$220,000 $140,000
$200,000 $180,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
$120,000 1-2008
1-2010
1-2012
1-2014
1-2016
1-2018
Current as of September 7, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
132 East Bay Street, Charleston, SC 29401 69 Morris Street, Charleston, SC 29403 309 Coleman Boulevard, Mount Pleasant, SC 29464
843.628.0008 | TheCassinaGroup.com
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