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AUGUST 2019

R E AL E STATE 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 2019

Local Market Update – August 2019

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

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

27

29

+ 7.4%

274

324

+ 18.2%

New Listings

25

19

- 24.0%

191

195

+ 2.1%

Closed Sales

24

17

- 29.2%

160

129

- 19.4%

Closed Sales

9

14

+ 55.6%

122

139

+ 13.9%

Median Sales Price*

$1,429,720

$946,700

- 33.8%

$980,000

$1,025,000

+ 4.6%

Median Sales Price*

$470,000

$478,500

+ 1.8%

$507,000

$450,000

- 11.2%

Average Sales Price*

$1,687,043

$1,326,578

- 21.4%

$1,322,513

$1,392,256

+ 5.3%

Average Sales Price*

$497,222

$484,470

- 2.6%

$518,848

$479,682

- 7.5%

89.3%

87.1%

- 2.5%

91.6%

90.3%

- 1.4%

Percent of Original List Price Received*

94.0%

91.9%

- 2.2%

93.8%

90.8%

- 3.2%

Days on Market Until Sale

71

78

+ 9.9%

92

90

- 2.2%

Days on Market Until Sale

28

48

+ 71.4%

54

66

+ 22.2%

Inventory of Homes for Sale

164

190

+ 15.9%

--

--

--

Inventory of Homes for Sale

80

70

- 12.5%

--

--

--

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.

* 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

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

40

22

- 45.0%

304

298

- 2.0%

New Listings

5

4

- 20.0%

42

26

- 38.1%

Closed Sales

13

21

+ 61.5%

123

123

0.0%

Closed Sales

2

2

0.0%

20

15

- 25.0%

Median Sales Price*

$1,250,000

$585,000

- 53.2%

$588,000

$600,000

+ 2.0%

Median Sales Price*

$314,500

$285,000

- 9.4%

$461,500

$280,000

- 39.3%

Average Sales Price*

$1,225,395

$760,548

- 37.9%

$759,211

$727,035

- 4.2%

Average Sales Price*

$314,500

$285,000

- 9.4%

$487,328

$351,590

- 27.9%

94.9%

88.9%

- 6.3%

94.3%

91.9%

- 2.5%

Percent of Original List Price Received*

95.5%

87.6%

- 8.3%

95.0%

92.2%

- 2.9%

Days on Market Until Sale

70

102

+ 45.7%

89

92

+ 3.4%

Days on Market Until Sale

6

304

+ 4,966.7%

45

103

+ 128.9%

Inventory of Homes for Sale

162

173

+ 6.8%

--

--

--

Inventory of Homes for Sale

18

13

- 27.8%

--

--

--

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 $1,200,000

* 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 —

$700,000

$1,000,000

$600,000

$800,000

$500,000

$600,000

$400,000

$400,000

$300,000

$200,000

$200,000

Single-Family Detached All MLS — Downtown Charleston —

$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

$0 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$100,000 1-2009

$200,000

$200,000

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$100,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – August 2019

Local Market Update – August 2019

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

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

102

95

- 6.9%

826

892

+ 8.0%

New Listings

132

117

- 11.4%

1,099

1,150

+ 4.6%

Closed Sales

72

89

+ 23.6%

592

585

- 1.2%

Closed Sales

98

123

+ 25.5%

694

793

+ 14.3%

Median Sales Price*

$520,000

$525,000

+ 1.0%

$570,000

$570,000

0.0%

Median Sales Price*

$528,000

$538,357

+ 2.0%

$520,020

$514,040

- 1.1%

Average Sales Price*

$654,369

$606,941

- 7.2%

$672,255

$692,586

+ 3.0%

Average Sales Price*

$611,542

$606,913

- 0.8%

$573,870

$570,210

- 0.6%

94.2%

93.5%

- 0.7%

95.5%

94.5%

- 1.0%

Percent of Original List Price Received*

96.2%

96.1%

- 0.1%

96.5%

96.5%

0.0%

Days on Market Until Sale

52

60

+ 15.4%

51

61

+ 19.6%

Days on Market Until Sale

77

80

+ 3.9%

76

71

- 6.6%

Inventory of Homes for Sale

265

290

+ 9.4%

--

--

--

Inventory of Homes for Sale

425

322

- 24.2%

--

--

--

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

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

46

30

- 34.8%

338

299

- 11.5%

New Listings

48

36

- 25.0%

346

335

- 3.2%

Closed Sales

39

38

- 2.6%

262

231

- 11.8%

Closed Sales

34

42

+ 23.5%

240

243

+ 1.3%

Median Sales Price*

$250,000

$260,500

+ 4.2%

$241,000

$250,000

+ 3.7%

Median Sales Price*

$302,300

$312,450

+ 3.4%

$281,250

$308,000

+ 9.5%

Average Sales Price*

$314,980

$363,357

+ 15.4%

$326,704

$353,241

+ 8.1%

Average Sales Price*

$299,076

$300,759

+ 0.6%

$290,201

$296,510

+ 2.2%

97.1%

100.7%

+ 3.7%

96.9%

96.1%

- 0.8%

Percent of Original List Price Received*

97.1%

96.1%

- 1.0%

97.3%

96.4%

- 0.9%

Days on Market Until Sale

51

43

- 15.7%

46

54

+ 17.4%

Days on Market Until Sale

46

75

+ 63.0%

49

61

+ 24.5%

Inventory of Homes for Sale

88

81

- 8.0%

--

--

--

Inventory of Homes for Sale

100

99

- 1.0%

--

--

--

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 Single-Family Detached $600,000

* 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 $500,000

$500,000

$300,000

$400,000

$250,000

$300,000

$200,000

$200,000

$150,000

$220,000 $400,000

$200,000 $180,000

$300,000

$160,000 $200,000 $140,000 $100,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$120,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$100,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – August 2019

Local Market Update – August 2019

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

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

21

24

+ 14.3%

203

233

+ 14.8%

New Listings

7

5

- 28.6%

66

51

- 22.7%

Closed Sales

17

12

- 29.4%

135

126

- 6.7%

Closed Sales

7

3

- 57.1%

49

33

- 32.7%

Median Sales Price*

$890,000

$1,716,750

+ 92.9%

$925,000

$1,078,750

+ 16.6%

Median Sales Price*

$2,675,000

$2,800,000

+ 4.7%

$1,963,600

$2,000,000

+ 1.9%

Average Sales Price*

$1,182,735

$2,033,208

+ 71.9%

$1,283,396

$1,421,768

+ 10.8%

Average Sales Price*

$2,774,429

$2,873,333

+ 3.6%

$2,202,864

$2,293,420

+ 4.1%

92.4%

89.8%

- 2.8%

92.1%

91.8%

- 0.3%

Percent of Original List Price Received*

93.5%

98.9%

+ 5.8%

93.9%

88.6%

- 5.6%

Days on Market Until Sale

85

123

+ 44.7%

112

101

- 9.8%

Days on Market Until Sale

105

16

- 84.8%

83

99

+ 19.3%

Inventory of Homes for Sale

123

140

+ 13.8%

--

--

--

Inventory of Homes for Sale

25

25

0.0%

--

--

--

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

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

12

14

+ 16.7%

95

104

+ 9.5%

New Listings

0

0

--

6

2

- 66.7%

Closed Sales

4

10

+ 150.0%

68

55

- 19.1%

Closed Sales

0

0

--

2

3

+ 50.0%

Median Sales Price*

$580,000

$496,000

- 14.5%

$507,500

$479,000

- 5.6%

Median Sales Price*

$0

$0

--

$487,500

$1,735,000

+ 255.9%

Average Sales Price*

$592,500

$557,560

- 5.9%

$574,709

$528,274

- 8.1%

Average Sales Price*

$0

$0

--

$487,500

$1,397,500

+ 186.7%

97.1%

93.4%

- 3.8%

94.3%

94.9%

+ 0.6%

Percent of Original List Price Received*

0.0%

0.0%

--

97.5%

96.5%

- 1.0%

Days on Market Until Sale

50

179

+ 258.0%

92

102

+ 10.9%

Days on Market Until Sale

0

0

--

13

170

+ 1,207.7%

Inventory of Homes for Sale

67

77

+ 14.9%

--

--

--

Inventory of Homes for Sale

4

2

- 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

$1,000,000

Townhouse-Condo Attached

Single-Family Detached All MLS — Isle of Palms —

$1,000,000

$800,000

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

$800,000 $1,500,000

$600,000 $600,000

$2,000,000 $400,000

$1,000,000

$200,000

$500,000

$400,000

$200,000

$0 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$0 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$0 1-2009

$1,000,000

1-2011

1-2013

1-2015

1-2017

1-2019

$0 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – August 2019

Local Market Update – August 2019

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

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

85

82

- 3.5%

687

735

+ 7.0%

New Listings

158

161

+ 1.9%

1,302

1,330

+ 2.2%

Closed Sales

54

64

+ 18.5%

508

499

- 1.8%

Closed Sales

116

114

- 1.7%

1,002

902

- 10.0%

Median Sales Price*

$364,950

$350,500

- 4.0%

$369,900

$360,000

- 2.7%

Median Sales Price*

$310,632

$319,750

+ 2.9%

$310,873

$317,000

+ 2.0%

Average Sales Price*

$442,657

$411,995

- 6.9%

$436,195

$444,724

+ 2.0%

Average Sales Price*

$354,325

$363,267

+ 2.5%

$348,403

$345,356

- 0.9%

96.0%

97.2%

+ 1.3%

97.1%

95.7%

- 1.4%

Percent of Original List Price Received*

97.7%

94.2%

- 3.6%

96.8%

95.5%

- 1.3%

Days on Market Until Sale

44

47

+ 6.8%

38

50

+ 31.6%

Days on Market Until Sale

36

54

+ 50.0%

38

49

+ 28.9%

Inventory of Homes for Sale

220

173

- 21.4%

--

--

--

Inventory of Homes for Sale

340

364

+ 7.1%

--

--

--

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.

* 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

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

27

22

- 18.5%

184

221

+ 20.1%

New Listings

61

59

- 3.3%

378

453

+ 19.8%

Closed Sales

15

14

- 6.7%

154

174

+ 13.0%

Closed Sales

40

61

+ 52.5%

318

352

+ 10.7%

Median Sales Price*

$219,500

$212,000

- 3.4%

$196,500

$205,000

+ 4.3%

Median Sales Price*

$181,950

$214,000

+ 17.6%

$181,500

$211,000

+ 16.3%

Average Sales Price*

$207,840

$211,063

+ 1.6%

$197,463

$216,527

+ 9.7%

Average Sales Price*

$184,699

$213,587

+ 15.6%

$184,329

$210,917

+ 14.4%

97.7%

100.1%

+ 2.5%

96.7%

97.1%

+ 0.4%

Percent of Original List Price Received*

96.7%

96.7%

0.0%

97.6%

97.3%

- 0.3%

Days on Market Until Sale

19

12

- 36.8%

47

41

- 12.8%

Days on Market Until Sale

39

41

+ 5.1%

38

43

+ 13.2%

Inventory of Homes for Sale

48

41

- 14.6%

--

--

--

Inventory of Homes for Sale

89

109

+ 22.5%

--

--

--

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

* 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

$350,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

$220,000

All MLS — West Ashley Area —

$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

$220,000

$200,000

$300,000

$180,000

$250,000

$160,000

$200,000

$150,000 1-2009

All MLS — West Ashley Area —

1-2011

1-2013

1-2015

1-2017

1-2019

$100,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$175,000 1-2009

$140,000

1-2011

1-2013

1-2015

1-2017

1-2019

$120,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of September 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 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 2019 Real Estate Report | Presented by The Cassina Group  

August 2019 Real Estate Report | Presented by The Cassina Group  

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