Page 1

DECEMBER 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 – December 2018

Local Market Update – December 2018

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

15

18

+ 20.0%

289

405

+ 40.1%

New Listings

17

15

- 11.8%

230

270

+ 17.4%

Closed Sales

17

19

+ 11.8%

229

207

- 9.6%

Closed Sales

13

13

0.0%

155

159

+ 2.6%

Median Sales Price*

$960,000

$1,300,000

+ 35.4%

$895,000

$985,000

+ 10.1%

Median Sales Price*

$550,000

$472,500

- 14.1%

$478,000

$481,000

+ 0.6%

Average Sales Price*

$1,325,954

$1,910,842

+ 44.1%

$1,268,428

$1,383,117

+ 9.0%

Average Sales Price*

$655,327

$460,369

- 29.7%

$520,632

$499,554

- 4.0%

92.3%

90.6%

- 1.8%

92.0%

91.6%

- 0.4%

Percent of Original List Price Received*

95.1%

90.0%

- 5.4%

95.2%

93.7%

- 1.6%

Days on Market Until Sale

52

85

+ 63.5%

99

88

- 11.1%

Days on Market Until Sale

49

73

+ 49.0%

49

56

+ 14.3%

Inventory of Homes for Sale

107

149

+ 39.3%

--

--

--

Inventory of Homes for Sale

54

73

+ 35.2%

--

--

--

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

December

Year to Date

December

Year to Date

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

26

15

- 42.3%

330

402

+ 21.8%

New Listings

1

1

0.0%

45

50

+ 11.1%

Closed Sales

12

27

+ 125.0%

191

204

+ 6.8%

Closed Sales

0

2

--

25

29

+ 16.0%

Median Sales Price*

$569,500

$642,500

+ 12.8%

$570,000

$612,500

+ 7.5%

Median Sales Price*

$0

$387,500

--

$346,000

$375,000

+ 8.4%

Average Sales Price*

$684,958

$666,398

- 2.7%

$703,562

$742,101

+ 5.5%

Average Sales Price*

$0

$387,500

--

$371,036

$439,933

+ 18.6%

95.8%

97.0%

+ 1.3%

94.0%

95.0%

+ 1.1%

Percent of Original List Price Received*

0.0%

87.6%

--

94.7%

94.4%

- 0.3%

Days on Market Until Sale

42

38

- 9.5%

88

71

- 19.3%

Days on Market Until Sale

0

176

--

58

46

- 20.7%

Inventory of Homes for Sale

120

142

+ 18.3%

--

--

--

Inventory of Homes for Sale

10

11

+ 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.

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

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

$600,000

$400,000

$300,000 $300,000

$400,000

$300,000

$200,000

$200,000

$0 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

$100,000 1-2008

$200,000

$200,000

1-2010

1-2012

1-2014

1-2016

1-2018

Current as of January 9, 2019. 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.

$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 January 9, 2019. 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 – December 2018

Local Market Update – December 2018

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

42

41

- 2.4%

1,160

1,119

- 3.5%

New Listings

52

63

+ 21.2%

1,549

1,487

- 4.0%

Closed Sales

82

65

- 20.7%

860

818

- 4.9%

Closed Sales

113

81

- 28.3%

1,085

972

- 10.4%

Median Sales Price*

$491,000

$550,000

+ 12.0%

$516,000

$564,000

+ 9.3%

Median Sales Price*

$503,315

$569,000

+ 13.1%

$486,000

$524,210

+ 7.9%

Average Sales Price*

$623,298

$654,101

+ 4.9%

$637,246

$673,996

+ 5.8%

Average Sales Price*

$549,339

$596,910

+ 8.7%

$530,217

$575,272

+ 8.5%

93.6%

96.1%

+ 2.7%

95.2%

95.4%

+ 0.2%

Percent of Original List Price Received*

96.6%

96.8%

+ 0.2%

96.8%

96.3%

- 0.5%

Days on Market Until Sale

83

51

- 38.6%

58

51

- 12.1%

Days on Market Until Sale

66

55

- 16.7%

75

72

- 4.0%

Inventory of Homes for Sale

211

215

+ 1.9%

--

--

--

Inventory of Homes for Sale

382

358

- 6.3%

--

--

--

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.

* 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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

22

28

+ 27.3%

448

468

+ 4.5%

New Listings

21

26

+ 23.8%

426

482

+ 13.1%

Closed Sales

27

22

- 18.5%

431

351

- 18.6%

Closed Sales

20

22

+ 10.0%

341

353

+ 3.5%

Median Sales Price*

$290,000

$209,250

- 27.8%

$232,500

$240,000

+ 3.2%

Median Sales Price*

$288,750

$324,800

+ 12.5%

$308,000

$318,000

+ 3.2%

Average Sales Price*

$437,633

$351,586

- 19.7%

$349,280

$342,031

- 2.1%

Average Sales Price*

$298,171

$313,288

+ 5.1%

$299,219

$301,514

+ 0.8%

96.7%

92.8%

- 4.0%

96.3%

96.5%

+ 0.2%

Percent of Original List Price Received*

96.1%

95.2%

- 0.9%

97.3%

97.2%

- 0.1%

Days on Market Until Sale

59

52

- 11.9%

53

48

- 9.4%

Days on Market Until Sale

53

70

+ 32.1%

46

50

+ 8.7%

Inventory of Homes for Sale

73

97

+ 32.9%

--

--

--

Inventory of Homes for Sale

74

95

+ 28.4%

--

--

--

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 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 1-2008

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 January 9, 2019. 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.

$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 January 9, 2019. 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 – December 2018

Local Market Update – December 2018

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

13

16

+ 23.1%

272

292

+ 7.4%

New Listings

4

3

- 25.0%

82

90

+ 9.8%

Closed Sales

13

13

0.0%

193

182

- 5.7%

Closed Sales

6

3

- 50.0%

56

62

+ 10.7%

Median Sales Price*

$1,050,000

$975,000

- 7.1%

$850,000

$956,250

+ 12.5%

Median Sales Price*

$2,125,000

$1,600,000

- 24.7%

$1,762,500

$1,981,800

+ 12.4%

Average Sales Price*

$1,572,846

$1,084,654

- 31.0%

$1,141,407

$1,239,409

+ 8.6%

Average Sales Price*

$1,952,167

$1,475,000

- 24.4%

$2,050,915

$2,163,784

+ 5.5%

90.4%

86.4%

- 4.4%

91.9%

91.5%

- 0.4%

Percent of Original List Price Received*

94.7%

96.2%

+ 1.6%

91.2%

93.6%

+ 2.6%

Days on Market Until Sale

76

82

+ 7.9%

124

111

- 10.5%

Days on Market Until Sale

66

44

- 33.3%

132

79

- 40.2%

Inventory of Homes for Sale

122

120

- 1.6%

--

--

--

Inventory of Homes for Sale

26

22

- 15.4%

--

--

--

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

9

8

- 11.1%

136

129

- 5.1%

New Listings

0

0

--

2

6

+ 200.0%

Closed Sales

9

5

- 44.4%

95

93

- 2.1%

Closed Sales

0

0

--

3

2

- 33.3%

Median Sales Price*

$559,000

$405,000

- 27.5%

$515,000

$545,000

+ 5.8%

Median Sales Price*

$0

$0

--

$512,500

$487,500

- 4.9%

Average Sales Price*

$578,056

$458,200

- 20.7%

$539,825

$591,943

+ 9.7%

Average Sales Price*

$0

$0

--

$475,500

$487,500

+ 2.5%

97.6%

95.5%

- 2.2%

94.5%

94.1%

- 0.4%

Percent of Original List Price Received*

0.0%

0.0%

--

90.4%

97.5%

+ 7.9%

Days on Market Until Sale

99

97

- 2.0%

149

103

- 30.9%

Days on Market Until Sale

0

0

--

216

13

- 94.0%

Inventory of Homes for Sale

61

65

+ 6.6%

--

--

--

Inventory of Homes for Sale

0

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

* 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

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

$1,000,000 $600,000

$1,500,000

$400,000

$1,000,000

$200,000

$500,000

$750,000

$2,000,000

$500,000

$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 January 9, 2019. 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.

$0 1-2008

$1,000,000

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 January 9, 2019. 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 – December 2018

Local Market Update – December 2018

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

33

38

+ 15.2%

972

915

- 5.9%

New Listings

83

58

- 30.1%

1,753

1,743

- 0.6%

Closed Sales

59

36

- 39.0%

732

700

- 4.4%

Closed Sales

110

78

- 29.1%

1,399

1,344

- 3.9%

Median Sales Price*

$380,000

$370,000

- 2.6%

$359,950

$370,620

+ 3.0%

Median Sales Price*

$289,833

$307,450

+ 6.1%

$290,538

$309,000

+ 6.4%

Average Sales Price*

$410,604

$426,781

+ 3.9%

$416,888

$435,311

+ 4.4%

Average Sales Price*

$314,750

$362,352

+ 15.1%

$314,924

$345,046

+ 9.6%

95.9%

96.3%

+ 0.4%

96.0%

96.9%

+ 0.9%

Percent of Original List Price Received*

95.7%

94.4%

- 1.4%

96.6%

96.3%

- 0.3%

Days on Market Until Sale

52

48

- 7.7%

44

40

- 9.1%

Days on Market Until Sale

50

52

+ 4.0%

36

39

+ 8.3%

Inventory of Homes for Sale

160

174

+ 8.7%

--

--

--

Inventory of Homes for Sale

289

283

- 2.1%

--

--

--

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

December

Year to Date

December

Year to Date

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

19

11

- 42.1%

268

246

- 8.2%

New Listings

34

26

- 23.5%

526

516

- 1.9%

Closed Sales

14

7

- 50.0%

228

196

- 14.0%

Closed Sales

37

24

- 35.1%

472

429

- 9.1%

Median Sales Price*

$196,000

$196,000

0.0%

$190,000

$195,000

+ 2.6%

Median Sales Price*

$153,900

$198,750

+ 29.1%

$180,000

$185,000

+ 2.8%

Average Sales Price*

$198,071

$178,557

- 9.9%

$195,670

$197,159

+ 0.8%

Average Sales Price*

$170,075

$200,409

+ 17.8%

$182,600

$185,561

+ 1.6%

97.3%

94.5%

- 2.9%

96.8%

96.5%

- 0.3%

Percent of Original List Price Received*

98.4%

97.2%

- 1.2%

97.8%

97.4%

- 0.4%

Days on Market Until Sale

24

40

+ 66.7%

41

48

+ 17.1%

Days on Market Until Sale

29

40

+ 37.9%

34

37

+ 8.8%

Inventory of Homes for Sale

62

43

- 30.6%

--

--

--

Inventory of Homes for Sale

70

84

+ 20.0%

--

--

--

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 — James Island —

$400,000

$220,000

All MLS — West Ashley Area —

$320,000

All MLS — West Ashley Area —

$220,000

$300,000

$200,000

$350,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

Rolling 12-Month Calculation

$200,000 $280,000

$180,000 $300,000

$180,000

$260,000 $160,000 $240,000

$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

$160,000

$220,000 $140,000

$200,000

1-2010

1-2012

1-2014

1-2016

1-2018

Current as of January 9, 2019. 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.

$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 January 9, 2019. 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

FOLLOW THE CASSINA GROUP

Profile for thecassinagroup

December 2018 Real Estate Report | Presented by The Cassina Group  

December 2018 Real Estate Report | Presented by The Cassina Group  

Advertisement