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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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August 2018 Real Estate Report | Presented by The Cassina Group  

August 2018 Real Estate Report | Presented by The Cassina Group  

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