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FEBRUARY 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 – February 2019

Local Market Update – February 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 February

Single-Family Detached

Year to Date

February

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

35

49

+ 40.0%

69

88

+ 27.5%

New Listings

15

22

+ 46.7%

40

40

0.0%

Closed Sales

15

8

- 46.7%

27

18

- 33.3%

Closed Sales

15

13

- 13.3%

29

30

+ 3.4%

Median Sales Price*

$1,200,000

$757,500

- 36.9%

$1,200,000

$1,167,500

- 2.7%

Median Sales Price*

$480,000

$465,000

- 3.1%

$480,000

$438,500

- 8.6%

Average Sales Price*

$1,227,394

$820,313

- 33.2%

$1,396,756

$1,230,972

- 11.9%

Average Sales Price*

$483,133

$441,538

- 8.6%

$470,138

$414,133

- 11.9%

96.9%

92.6%

- 4.4%

95.1%

92.2%

- 3.0%

Percent of Original List Price Received*

95.7%

89.4%

- 6.6%

93.2%

89.4%

- 4.1%

Days on Market Until Sale

105

66

- 37.1%

81

75

- 7.4%

Days on Market Until Sale

31

127

+ 309.7%

46

96

+ 108.7%

Inventory of Homes for Sale

121

187

+ 54.5%

--

--

--

Inventory of Homes for Sale

52

65

+ 25.0%

--

--

--

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

February

Year to Date

February

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

34

- 26.1%

72

65

- 9.7%

New Listings

6

4

- 33.3%

12

7

- 41.7%

Closed Sales

13

7

- 46.2%

30

19

- 36.7%

Closed Sales

0

0

--

5

1

- 80.0%

Median Sales Price*

$759,000

$800,000

+ 5.4%

$734,500

$990,000

+ 34.8%

Median Sales Price*

$0

$0

--

$665,000

$264,500

- 60.2%

Average Sales Price*

$854,046

$1,153,286

+ 35.0%

$796,303

$1,098,974

+ 38.0%

Average Sales Price*

$0

$0

--

$661,110

$264,500

- 60.0%

94.0%

88.6%

- 5.7%

93.5%

91.3%

- 2.4%

0.0%

0.0%

--

103.4%

89.8%

- 13.2%

Days on Market Until Sale

98

132

+ 34.7%

88

111

+ 26.1%

Days on Market Until Sale

0

0

--

43

132

+ 207.0%

Inventory of Homes for Sale

147

157

+ 6.8%

--

--

--

Inventory of Homes for Sale

14

12

- 14.3%

--

--

--

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 $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 —

Percent of Original List Price Received*

$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 March 8, 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 March 8, 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 – February 2019

Local Market Update – February 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 February

Single-Family Detached

Year to Date

February

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

101

114

+ 12.9%

175

199

+ 13.7%

New Listings

138

149

+ 8.0%

244

290

+ 18.9%

Closed Sales

45

50

+ 11.1%

108

84

- 22.2%

Closed Sales

51

71

+ 39.2%

111

114

+ 2.7%

Median Sales Price*

$535,000

$690,000

+ 29.0%

$535,000

$640,000

+ 19.6%

Median Sales Price*

$531,238

$466,750

- 12.1%

$530,250

$489,462

- 7.7%

Average Sales Price*

$600,552

$768,560

+ 28.0%

$608,681

$720,440

+ 18.4%

Average Sales Price*

$581,466

$524,763

- 9.8%

$585,658

$551,318

- 5.9%

95.2%

91.5%

- 3.9%

94.0%

92.6%

- 1.5%

96.4%

96.0%

- 0.4%

96.3%

96.0%

- 0.3%

Days on Market Until Sale

69

92

+ 33.3%

64

79

+ 23.4%

Days on Market Until Sale

84

75

- 10.7%

91

69

- 24.2%

Inventory of Homes for Sale

225

239

+ 6.2%

--

--

--

Inventory of Homes for Sale

405

415

+ 2.5%

--

--

--

Percent of Original List Price Received*

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

February

Year to Date

February

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

48

40

- 16.7%

84

72

- 14.3%

New Listings

40

43

+ 7.5%

72

82

+ 13.9%

Closed Sales

16

27

+ 68.8%

38

40

+ 5.3%

Closed Sales

15

27

+ 80.0%

33

45

+ 36.4%

Median Sales Price*

$258,500

$239,500

- 7.4%

$224,250

$255,000

+ 13.7%

Median Sales Price*

$352,000

$237,500

- 32.5%

$330,000

$310,000

- 6.1%

Average Sales Price*

$308,844

$381,794

+ 23.6%

$318,184

$401,266

+ 26.1%

Average Sales Price*

$323,487

$276,181

- 14.6%

$309,817

$300,293

- 3.1%

95.8%

95.5%

- 0.3%

96.1%

95.6%

- 0.5%

Percent of Original List Price Received*

98.0%

95.7%

- 2.3%

98.0%

95.1%

- 3.0%

Days on Market Until Sale

49

54

+ 10.2%

58

55

- 5.2%

Days on Market Until Sale

41

51

+ 24.4%

69

60

- 13.0%

Inventory of Homes for Sale

87

93

+ 6.9%

--

--

--

Inventory of Homes for Sale

81

99

+ 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 $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 March 8, 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 March 8, 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 – February 2019

Local Market Update – February 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 February

Single-Family Detached

Year to Date

February

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

22

28

+ 27.3%

41

64

+ 56.1%

New Listings

8

2

- 75.0%

15

12

- 20.0%

Closed Sales

10

10

0.0%

27

17

- 37.0%

Closed Sales

4

4

0.0%

6

8

+ 33.3%

Median Sales Price*

$1,019,500

$920,000

- 9.8%

$1,064,000

$910,000

- 14.5%

Median Sales Price*

$2,800,000

$2,762,500

- 1.3%

$2,882,500

$1,988,438

- 31.0%

Average Sales Price*

$1,252,600

$1,178,250

- 5.9%

$1,357,481

$1,211,618

- 10.7%

Average Sales Price*

$2,676,250

$2,652,500

- 0.9%

$2,794,167

$2,129,234

- 23.8%

90.9%

92.9%

+ 2.2%

89.4%

93.1%

+ 4.1%

Percent of Original List Price Received*

99.1%

88.4%

- 10.8%

97.7%

88.0%

- 9.9%

Days on Market Until Sale

122

106

- 13.1%

159

91

- 42.8%

Days on Market Until Sale

71

42

- 40.8%

88

62

- 29.5%

Inventory of Homes for Sale

113

137

+ 21.2%

--

--

--

Inventory of Homes for Sale

26

24

- 7.7%

--

--

--

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.

* 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

February

Year to Date

February

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

16

13

- 18.8%

28

27

- 3.6%

New Listings

0

1

--

1

1

0.0%

Closed Sales

6

4

- 33.3%

14

5

- 64.3%

Closed Sales

0

0

--

0

1

--

Median Sales Price*

$515,000

$766,500

+ 48.8%

$502,500

$754,000

+ 50.0%

Median Sales Price*

$0

$0

--

$0

$1,770,000

--

Average Sales Price*

$521,458

$666,375

+ 27.8%

$501,232

$617,500

+ 23.2%

Average Sales Price*

$0

$0

--

$0

$1,770,000

--

88.5%

91.1%

+ 2.9%

93.0%

92.1%

- 1.0%

Percent of Original List Price Received*

0.0%

0.0%

--

0.0%

94.4%

--

Days on Market Until Sale

228

103

- 54.8%

157

92

- 41.4%

Days on Market Until Sale

0

0

--

0

195

--

Inventory of Homes for Sale

61

73

+ 19.7%

--

--

--

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 —

$1,200,000

$1,000,000

Single-Family Detached All MLS — Isle of Palms —

$1,000,000

$800,000

$2,500,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Sullivan's Island —

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 March 8, 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 March 8, 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 – February 2019

Local Market Update – February 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 February

Single-Family Detached

Year to Date

February

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

97

85

- 12.4%

171

165

- 3.5%

New Listings

156

135

- 13.5%

285

283

- 0.7%

Closed Sales

63

36

- 42.9%

105

71

- 32.4%

Closed Sales

94

99

+ 5.3%

167

162

- 3.0%

Median Sales Price*

$345,000

$355,750

+ 3.1%

$365,000

$361,325

- 1.0%

Median Sales Price*

$301,758

$312,000

+ 3.4%

$300,000

$311,500

+ 3.8%

Average Sales Price*

$372,805

$620,900

+ 66.5%

$392,957

$517,947

+ 31.8%

Average Sales Price*

$323,969

$345,554

+ 6.7%

$337,466

$350,252

+ 3.8%

98.9%

93.8%

- 5.2%

97.5%

94.7%

- 2.9%

96.5%

96.4%

- 0.1%

96.2%

95.4%

- 0.8%

Days on Market Until Sale

40

72

+ 80.0%

39

67

+ 71.8%

Days on Market Until Sale

45

46

+ 2.2%

47

52

+ 10.6%

Inventory of Homes for Sale

177

179

+ 1.1%

--

--

--

Inventory of Homes for Sale

316

298

- 5.7%

--

--

--

Percent of Original List Price Received*

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

February

Year to Date

February

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

18

27

+ 50.0%

31

47

+ 51.6%

New Listings

37

54

+ 45.9%

77

95

+ 23.4%

Closed Sales

11

13

+ 18.2%

20

25

+ 25.0%

Closed Sales

24

34

+ 41.7%

49

59

+ 20.4%

Median Sales Price*

$178,000

$154,500

- 13.2%

$177,000

$190,000

+ 7.3%

Median Sales Price*

$156,000

$235,073

+ 50.7%

$165,900

$233,000

+ 40.4%

Average Sales Price*

$174,500

$182,988

+ 4.9%

$183,425

$213,245

+ 16.3%

Average Sales Price*

$180,703

$215,100

+ 19.0%

$178,124

$215,952

+ 21.2%

94.5%

95.3%

+ 0.8%

95.2%

95.4%

+ 0.2%

Percent of Original List Price Received*

97.2%

96.8%

- 0.4%

96.8%

96.5%

- 0.3%

Days on Market Until Sale

44

70

+ 59.1%

50

70

+ 40.0%

Days on Market Until Sale

29

44

+ 51.7%

34

46

+ 35.3%

Inventory of Homes for Sale

45

51

+ 13.3%

--

--

--

Inventory of Homes for Sale

72

85

+ 18.1%

--

--

--

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.

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

Single-Family Detached All MLS — James Island —

$220,000

Townhouse-Condo Attached All MLS — West Ashley Area —

All MLS — West Ashley Area —

$220,000

$300,000

$200,000

$350,000

$320,000

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 1-2009

$120,000

1-2011

1-2013

1-2015

1-2017

1-2019

$100,000 1-2009

$160,000

$220,000 $140,000

$200,000

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of March 8, 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.

$180,000 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 March 8, 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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February 2019 Real Estate Report | Presented by The Cassina Group  

February 2019 Real Estate Report | Presented by The Cassina Group  

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