February 2021 Real Estate Report | The Cassina Group

Page 1

FEBRUARY 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 – February 2021

Local Market Update – February 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 February

Single-Family Detached

Year to Date

February

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

32

27

- 15.6%

73

70

- 4.1%

New Listings

25

22

- 12.0%

46

47

+ 2.2%

Closed Sales

15

35

+ 133.3%

27

61

+ 125.9%

Closed Sales

18

15

- 16.7%

27

31

+ 14.8%

Median Sales Price*

$568,900

$870,000

+ 52.9%

$695,000

$922,000

+ 32.7%

Median Sales Price*

$465,000

$580,000

+ 24.7%

$465,000

$560,000

+ 20.4%

Average Sales Price*

$832,887

$1,219,275

+ 46.4%

$860,307

$1,435,502

+ 66.9%

Average Sales Price*

$556,914

$649,473

+ 16.6%

$556,794

$604,335

+ 8.5%

89.9%

93.1%

+ 3.6%

88.5%

92.6%

+ 4.6%

Percent of Original List Price Received*

91.5%

95.4%

+ 4.3%

91.6%

94.9%

+ 3.6%

Days on Market Until Sale

114

142

+ 24.6%

124

131

+ 5.6%

Days on Market Until Sale

88

51

- 42.0%

75

50

- 33.3%

Inventory of Homes for Sale

170

114

- 32.9%

--

--

--

Inventory of Homes for Sale

70

55

- 21.4%

--

--

--

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

February

Year to Date

February

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

38

39

+ 2.6%

71

77

+ 8.5%

New Listings

3

3

0.0%

8

5

- 37.5%

Closed Sales

19

19

0.0%

31

29

- 6.5%

Closed Sales

0

2

--

3

2

- 33.3%

Median Sales Price*

$595,000

$615,000

+ 3.4%

$600,000

$649,000

+ 8.2%

Median Sales Price*

$0

$407,500

--

$255,000

$407,500

+ 59.8%

Average Sales Price*

$1,104,632

$671,887

- 39.2%

$962,290

$783,064

- 18.6%

Average Sales Price*

$0

$407,500

--

$250,333

$407,500

+ 62.8%

90.3%

90.8%

+ 0.6%

88.7%

90.6%

+ 2.1%

Percent of Original List Price Received*

0.0%

99.0%

--

98.6%

99.0%

+ 0.4%

Days on Market Until Sale

120

189

+ 57.5%

154

172

+ 11.7%

Days on Market Until Sale

0

54

--

65

54

- 16.9%

Inventory of Homes for Sale

165

142

- 13.9%

--

--

--

Inventory of Homes for Sale

19

6

- 68.4%

--

--

--

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 $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

$600,000

$600,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —

$500,000

$500,000 $400,000

$1,000,000

$500,000 $400,000

$800,000 $400,000

$300,000

$600,000

$300,000 $300,000

$400,000

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

$200,000

$200,000

$200,000

$200,000 $0 1-2011

All MLS — Upper Charleston Peninsula —

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of March 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 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 March 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – February 2021

Local Market Update – February 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 February

Single-Family Detached

Year to Date

February

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

85

90

+ 5.9%

166

156

- 6.0%

New Listings

107

117

+ 9.3%

229

241

+ 5.2%

Closed Sales

56

75

+ 33.9%

104

142

+ 36.5%

Closed Sales

66

87

+ 31.8%

148

169

+ 14.2%

Median Sales Price*

$612,495

$664,474

+ 8.5%

$567,500

$662,237

+ 16.7%

Median Sales Price*

$544,000

$540,000

- 0.7%

$535,750

$579,253

+ 8.1%

Average Sales Price*

$716,288

$830,707

+ 16.0%

$691,421

$810,172

+ 17.2%

Average Sales Price*

$625,693

$657,747

+ 5.1%

$585,431

$665,480

+ 13.7%

92.5%

96.4%

+ 4.2%

93.4%

96.1%

+ 2.9%

Percent of Original List Price Received*

95.6%

98.3%

+ 2.8%

96.3%

98.6%

+ 2.4%

Days on Market Until Sale

96

42

- 56.3%

81

47

- 42.0%

Days on Market Until Sale

94

37

- 60.6%

80

31

- 61.3%

Inventory of Homes for Sale

228

61

- 73.2%

--

--

--

Inventory of Homes for Sale

303

61

- 79.9%

--

--

--

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

48

55

+ 14.6%

91

100

+ 9.9%

New Listings

43

35

- 18.6%

78

65

- 16.7%

Closed Sales

22

35

+ 59.1%

36

63

+ 75.0%

Closed Sales

19

27

+ 42.1%

32

48

+ 50.0%

Median Sales Price*

$253,000

$287,000

+ 13.4%

$232,725

$287,000

+ 23.3%

Median Sales Price*

$319,500

$335,000

+ 4.9%

$305,750

$323,250

+ 5.7%

Average Sales Price*

$249,761

$446,534

+ 78.8%

$245,239

$403,513

+ 64.5%

Average Sales Price*

$326,261

$315,565

- 3.3%

$313,154

$311,722

- 0.5%

96.6%

97.1%

+ 0.5%

96.7%

97.0%

+ 0.3%

Percent of Original List Price Received*

96.9%

98.5%

+ 1.7%

97.0%

98.3%

+ 1.3%

Days on Market Until Sale

64

62

- 3.1%

58

56

- 3.4%

Days on Market Until Sale

56

22

- 60.7%

68

33

- 51.5%

Inventory of Homes for Sale

103

23

- 77.7%

--

--

--

Inventory of Homes for Sale

95

12

- 87.4%

--

--

--

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 $700,000

Historical Median Sales Price

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Lower Mount Pleasant —

$250,000

$500,000

$225,000

$400,000

$200,000

$300,000

$175,000

$200,000

$150,000

1-2013

1-2015

1-2017

1-2019

1-2021

$125,000 1-2011

Single-Family Detached All MLS — Lower Mount Pleasant —

$275,000

$600,000

$100,000 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.

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of March 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$600,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Mount Pleasant —

$350,000

$500,000

$300,000

$400,000

$250,000

$300,000

$200,000

$200,000

$150,000

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

All MLS — Upper Mount Pleasant —

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of March 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – February 2021

Local Market Update – February 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 February

Single-Family Detached

Year to Date

February

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

35

28

- 20.0%

57

46

- 19.3%

New Listings

10

6

- 40.0%

14

10

- 28.6%

Closed Sales

13

20

+ 53.8%

23

36

+ 56.5%

Closed Sales

5

4

- 20.0%

8

9

+ 12.5%

Median Sales Price*

$1,499,000

$1,555,000

+ 3.7%

$1,070,000

$1,397,500

+ 30.6%

Median Sales Price*

$1,225,000

$3,799,500

+ 210.2%

$2,147,500

$3,188,775

+ 48.5%

Average Sales Price*

$1,569,654

$1,685,500

+ 7.4%

$1,333,087

$1,751,125

+ 31.4%

Average Sales Price*

$1,738,200

$3,979,750

+ 129.0%

$2,148,875

$3,395,308

+ 58.0%

89.5%

96.3%

+ 7.6%

89.9%

94.8%

+ 5.5%

Percent of Original List Price Received*

92.6%

95.3%

+ 2.9%

93.0%

96.0%

+ 3.2%

Days on Market Until Sale

94

33

- 64.9%

107

49

- 54.2%

Days on Market Until Sale

63

32

- 49.2%

67

82

+ 22.4%

Inventory of Homes for Sale

137

22

- 83.9%

--

--

--

Inventory of Homes for Sale

23

10

- 56.5%

--

--

--

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

February

Year to Date

February

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

10

- 33.3%

26

20

- 23.1%

New Listings

0

2

--

0

3

--

Closed Sales

8

10

+ 25.0%

14

25

+ 78.6%

Closed Sales

0

0

--

1

0

- 100.0%

Median Sales Price*

$459,250

$732,500

+ 59.5%

$626,000

$711,000

+ 13.6%

Median Sales Price*

$0

$0

--

$1,600,000

$0

- 100.0%

Average Sales Price*

$535,750

$744,000

+ 38.9%

$668,881

$738,534

+ 10.4%

Average Sales Price*

$0

$0

--

$1,600,000

$0

- 100.0%

93.9%

96.6%

+ 2.9%

93.4%

94.1%

+ 0.7%

Percent of Original List Price Received*

0.0%

0.0%

--

87.7%

0.0%

- 100.0%

Days on Market Until Sale

65

155

+ 138.5%

101

143

+ 41.6%

Days on Market Until Sale

0

0

--

516

0

- 100.0%

Inventory of Homes for Sale

77

22

- 71.4%

--

--

--

Inventory of Homes for Sale

1

0

- 100.0%

--

--

--

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 —

$1,400,000 $1,200,000

Single-Family Detached All MLS — Isle of Palms —

$700,000

$3,000,000

$600,000

$2,500,000

$500,000

$2,000,000

$400,000

$1,500,000

$300,000

$1,000,000

$200,000

$500,000

Rolling 12-Month Calculation

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

All MLS — Sullivan's Island —

$4,000,000

$3,000,000

$1,000,000 $800,000

$2,000,000

$600,000 $400,000

$1,000,000

$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 March 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$0 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$0 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of March 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – February 2021

Local Market Update – February 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 February

Single-Family Detached

Year to Date

February

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

89

52

- 41.6%

165

107

- 35.2%

New Listings

140

93

- 33.6%

326

208

- 36.2%

Closed Sales

51

51

0.0%

100

92

- 8.0%

Closed Sales

120

95

- 20.8%

198

183

- 7.6%

Median Sales Price*

$368,000

$400,000

+ 8.7%

$363,000

$402,500

+ 10.9%

Median Sales Price*

$325,500

$360,000

+ 10.6%

$315,500

$346,000

+ 9.7%

Average Sales Price*

$425,164

$468,572

+ 10.2%

$428,923

$472,640

+ 10.2%

Average Sales Price*

$343,870

$394,384

+ 14.7%

$334,818

$394,412

+ 17.8%

95.4%

97.6%

+ 2.3%

95.0%

97.2%

+ 2.3%

Percent of Original List Price Received*

95.4%

96.9%

+ 1.6%

95.4%

96.7%

+ 1.4%

Days on Market Until Sale

57

29

- 49.1%

56

29

- 48.2%

Days on Market Until Sale

56

30

- 46.4%

53

32

- 39.6%

Inventory of Homes for Sale

160

39

- 75.6%

--

--

--

Inventory of Homes for Sale

302

61

- 79.8%

--

--

--

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

February

Year to Date

February

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

23

17

- 26.1%

47

34

- 27.7%

New Listings

51

41

- 19.6%

93

82

- 11.8%

Closed Sales

15

24

+ 60.0%

25

39

+ 56.0%

Closed Sales

47

31

- 34.0%

73

58

- 20.5%

Median Sales Price*

$216,500

$176,250

- 18.6%

$217,000

$226,000

+ 4.1%

Median Sales Price*

$229,900

$195,000

- 15.2%

$232,373

$199,000

- 14.4%

Average Sales Price*

$201,427

$214,023

+ 6.3%

$202,152

$229,309

+ 13.4%

Average Sales Price*

$213,183

$220,128

+ 3.3%

$219,231

$210,803

- 3.8%

94.9%

95.0%

+ 0.1%

95.0%

95.8%

+ 0.8%

Percent of Original List Price Received*

95.7%

98.0%

+ 2.4%

96.0%

98.0%

+ 2.1%

Days on Market Until Sale

45

65

+ 44.4%

44

62

+ 40.9%

Days on Market Until Sale

67

28

- 58.2%

63

28

- 55.6%

Inventory of Homes for Sale

56

9

- 83.9%

--

--

--

Inventory of Homes for Sale

77

26

- 66.2%

--

--

--

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

* 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

$400,000

Single-Family Detached All MLS — James Island —

$240,000

$350,000

$220,000

$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

Townhouse-Condo Attached All MLS — West Ashley Area —

$240,000

$220,000

$200,000

$300,000

$180,000

$200,000

$100,000 1-2011

All MLS — West Ashley Area —

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 March 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$175,000 1-2011

$160,000

$140,000

1-2013

1-2015

1-2017

1-2019

1-2021

$120,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of March 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 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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