December 2021 Real Estate Report | The Cassina Group

Page 1

DECEMBER 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 – December 2021

Local Market Update – December 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 December

Single-Family Detached

Year to Date

December

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

15

22

+ 46.7%

449

407

- 9.4%

New Listings

16

12

- 25.0%

331

267

- 19.3%

Closed Sales

23

28

+ 21.7%

226

388

+ 71.7%

Closed Sales

22

20

- 9.1%

218

251

+ 15.1%

Median Sales Price*

$760,000

$1,275,000

+ 67.8%

$905,000

$1,055,250

+ 16.6%

Median Sales Price*

$579,500

$599,500

+ 3.5%

$525,500

$599,000

+ 14.0%

Average Sales Price*

$1,060,478

$1,683,036

+ 58.7%

$1,332,511

$1,455,519

+ 9.2%

Average Sales Price*

$574,985

$709,500

+ 23.4%

$568,645

$632,313

+ 11.2%

93.3%

94.3%

+ 1.1%

90.6%

94.1%

+ 3.9%

Percent of Original List Price Received*

94.3%

96.4%

+ 2.2%

93.5%

96.2%

+ 2.9%

Days on Market Until Sale

80

47

- 41.3%

111

83

- 25.2%

Days on Market Until Sale

62

39

- 37.1%

56

55

- 1.8%

Inventory of Homes for Sale

173

47

- 72.8%

--

--

--

Inventory of Homes for Sale

76

17

- 77.6%

--

--

--

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

December

Year to Date

December

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

25

14

- 44.0%

419

391

- 6.7%

New Listings

3

1

- 66.7%

45

49

+ 8.9%

Closed Sales

22

21

- 4.5%

189

330

+ 74.6%

Closed Sales

6

2

- 66.7%

27

34

+ 25.9%

Median Sales Price*

$752,500

$677,000

- 10.0%

$585,000

$650,000

+ 11.1%

Median Sales Price*

$474,500

$510,750

+ 7.6%

$299,900

$442,000

+ 47.4%

Average Sales Price*

$1,087,773

$991,524

- 8.8%

$811,717

$796,663

- 1.9%

Average Sales Price*

$489,817

$510,750

+ 4.3%

$409,552

$521,585

+ 27.4%

96.3%

94.9%

- 1.5%

92.8%

94.1%

+ 1.4%

Percent of Original List Price Received*

92.8%

100.9%

+ 8.7%

94.5%

98.0%

+ 3.7%

Days on Market Until Sale

129

68

- 47.3%

136

96

- 29.4%

Days on Market Until Sale

39

4

- 89.7%

72

33

- 54.2%

Inventory of Homes for Sale

167

73

- 56.3%

--

--

--

Inventory of Homes for Sale

9

7

- 22.2%

--

--

--

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 $1,400,000

* 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 January 7, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 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 January 7, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – December 2021

Local Market Update – December 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 December

Single-Family Detached

Year to Date

December

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

65

39

- 40.0%

1,095

973

- 11.1%

New Listings

74

50

- 32.4%

1,446

1,257

- 13.1%

Closed Sales

76

73

- 3.9%

950

958

+ 0.8%

Closed Sales

129

70

- 45.7%

1,304

1,233

- 5.4%

Median Sales Price*

$764,500

$785,000

+ 2.7%

$635,000

$747,843

+ 17.8%

Median Sales Price*

$545,000

$749,615

+ 37.5%

$540,570

$650,000

+ 20.2%

Average Sales Price*

$964,832

$1,122,223

+ 16.3%

$773,100

$940,759

+ 21.7%

Average Sales Price*

$650,542

$863,900

+ 32.8%

$610,457

$733,018

+ 20.1%

97.0%

99.3%

+ 2.4%

95.9%

98.6%

+ 2.8%

Percent of Original List Price Received*

98.4%

100.6%

+ 2.2%

97.5%

100.8%

+ 3.4%

Days on Market Until Sale

63

14

- 77.8%

55

22

- 60.0%

Days on Market Until Sale

33

25

- 24.2%

52

18

- 65.4%

Inventory of Homes for Sale

106

34

- 67.9%

--

--

--

Inventory of Homes for Sale

105

41

- 61.0%

--

--

--

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

December

Year to Date

December

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

21

0.0%

484

553

+ 14.3%

New Listings

23

15

- 34.8%

425

369

- 13.2%

Closed Sales

44

35

- 20.5%

419

553

+ 32.0%

Closed Sales

40

38

- 5.0%

370

362

- 2.2%

Median Sales Price*

$264,500

$400,000

+ 51.2%

$250,000

$315,000

+ 26.0%

Median Sales Price*

$312,750

$399,952

+ 27.9%

$319,375

$350,000

+ 9.6%

Average Sales Price*

$394,342

$520,693

+ 32.0%

$328,819

$424,818

+ 29.2%

Average Sales Price*

$324,139

$388,622

+ 19.9%

$315,130

$359,838

+ 14.2%

95.8%

99.3%

+ 3.7%

96.2%

99.8%

+ 3.7%

Percent of Original List Price Received*

98.6%

99.9%

+ 1.3%

97.4%

100.6%

+ 3.3%

Days on Market Until Sale

55

31

- 43.6%

50

21

- 58.0%

Days on Market Until Sale

31

21

- 32.3%

53

13

- 75.5%

Inventory of Homes for Sale

46

4

- 91.3%

--

--

--

Inventory of Homes for Sale

33

6

- 81.8%

--

--

--

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 $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 —

Single-Family Detached All MLS — Lower Mount Pleasant —

$350,000

$700,000 $300,000 $600,000

Townhouse-Condo Attached All MLS — Upper Mount Pleasant —

All MLS — Upper Mount Pleasant —

$400,000

$600,000

$350,000

$500,000

$300,000

$400,000

$250,000

$300,000

$200,000

$200,000

$150,000

$250,000

$500,000 $400,000

$200,000

$300,000 $150,000

$200,000 $100,000 1-2011

$700,000

Rolling 12-Month Calculation

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 January 7, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 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 January 7, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – December 2021

Local Market Update – December 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 December

Single-Family Detached

Year to Date

December

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

18

9

- 50.0%

308

307

- 0.3%

New Listings

3

4

+ 33.3%

64

64

0.0%

Closed Sales

22

20

- 9.1%

286

270

- 5.6%

Closed Sales

2

6

+ 200.0%

52

50

- 3.8%

Median Sales Price*

$1,269,500

$2,060,000

+ 62.3%

$1,140,000

$1,650,000

+ 44.7%

Median Sales Price*

$2,450,000

$3,150,000

+ 28.6%

$2,407,500

$3,100,000

+ 28.8%

Average Sales Price*

$1,682,295

$2,403,150

+ 42.8%

$1,393,081

$1,997,679

+ 43.4%

Average Sales Price*

$2,450,000

$2,821,167

+ 15.1%

$2,560,050

$3,369,515

+ 31.6%

94.1%

98.0%

+ 4.1%

93.3%

97.5%

+ 4.5%

Percent of Original List Price Received*

100.1%

92.7%

- 7.4%

93.1%

96.5%

+ 3.7%

Days on Market Until Sale

79

21

- 73.4%

106

29

- 72.6%

Days on Market Until Sale

0

25

--

72

64

- 11.1%

Inventory of Homes for Sale

43

18

- 58.1%

--

--

--

Inventory of Homes for Sale

13

9

- 30.8%

--

--

--

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.

* 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

December

Year to Date

December

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

5

4

- 20.0%

144

109

- 24.3%

New Listings

0

2

--

3

8

+ 166.7%

Closed Sales

12

8

- 33.3%

144

114

- 20.8%

Closed Sales

0

2

--

4

6

+ 50.0%

Median Sales Price*

$596,250

$751,950

+ 26.1%

$596,250

$727,500

+ 22.0%

Median Sales Price*

$0

$1,575,000

--

$1,205,000

$690,000

- 42.7%

Average Sales Price*

$671,625

$995,488

+ 48.2%

$664,813

$783,993

+ 17.9%

Average Sales Price*

$0

$1,575,000

--

$1,150,558

$1,072,500

- 6.8%

95.0%

95.9%

+ 0.9%

94.4%

97.6%

+ 3.4%

Percent of Original List Price Received*

0.0%

97.1%

--

86.9%

90.1%

+ 3.7%

Days on Market Until Sale

116

183

+ 57.8%

105

77

- 26.7%

Days on Market Until Sale

0

10

--

265

40

- 84.9%

Inventory of Homes for Sale

27

8

- 70.4%

--

--

--

Inventory of Homes for Sale

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.

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 January 7, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 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 January 7, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – December 2021

Local Market Update – December 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 December

Single-Family Detached

Year to Date

December

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

42

33

- 21.4%

855

737

- 13.8%

New Listings

86

86

0.0%

1,790

1,603

- 10.4%

Closed Sales

65

41

- 36.9%

757

699

- 7.7%

Closed Sales

135

114

- 15.6%

1,600

1,404

- 12.3%

Median Sales Price*

$430,000

$519,000

+ 20.7%

$399,000

$460,000

+ 15.3%

Median Sales Price*

$345,000

$425,000

+ 23.2%

$326,000

$395,000

+ 21.2%

Average Sales Price*

$499,118

$591,423

+ 18.5%

$485,952

$561,916

+ 15.6%

Average Sales Price*

$401,048

$523,966

+ 30.6%

$373,852

$451,130

+ 20.7%

96.5%

99.3%

+ 2.9%

96.5%

99.2%

+ 2.8%

Percent of Original List Price Received*

96.8%

99.6%

+ 2.9%

96.8%

99.0%

+ 2.3%

Days on Market Until Sale

47

15

- 68.1%

42

19

- 54.8%

Days on Market Until Sale

29

17

- 41.4%

38

18

- 52.6%

Inventory of Homes for Sale

87

23

- 73.6%

--

--

--

Inventory of Homes for Sale

129

64

- 50.4%

--

--

--

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

December

Year to Date

December

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

16

11

- 31.3%

281

295

+ 5.0%

New Listings

31

23

- 25.8%

545

538

- 1.3%

Closed Sales

27

23

- 14.8%

242

296

+ 22.3%

Closed Sales

54

38

- 29.6%

501

521

+ 4.0%

Median Sales Price*

$167,500

$280,000

+ 67.2%

$202,000

$236,000

+ 16.8%

Median Sales Price*

$256,985

$280,000

+ 9.0%

$220,295

$247,500

+ 12.3%

Average Sales Price*

$176,920

$312,343

+ 76.5%

$203,357

$256,283

+ 26.0%

Average Sales Price*

$252,369

$268,806

+ 6.5%

$219,799

$247,833

+ 12.8%

94.1%

96.2%

+ 2.2%

96.4%

99.3%

+ 3.0%

Percent of Original List Price Received*

98.3%

100.1%

+ 1.8%

97.5%

99.9%

+ 2.5%

Days on Market Until Sale

28

31

+ 10.7%

36

20

- 44.4%

Days on Market Until Sale

33

21

- 36.4%

42

17

- 59.5%

Inventory of Homes for Sale

24

10

- 58.3%

--

--

--

Inventory of Homes for Sale

48

18

- 62.5%

--

--

--

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 —

$500,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

$300,000

Rolling 12-Month Calculation

All MLS — West Ashley Area —

$500,000

All MLS — West Ashley Area —

$300,000 $275,000

$400,000

$250,000

$400,000

$300,000

$200,000

$300,000

$250,000 $225,000 $200,000

$200,000

$175,000

$200,000

$150,000

$150,000 $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 January 7, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 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

$125,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of January 7, 2022. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2022 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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