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
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