January 2021 Real Estate Report | The Cassina Group

Page 1

JANUARY 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 – January 2021

Local Market Update – January 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 January

Single-Family Detached

Year to Date

January

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

41

43

+ 4.9%

41

43

+ 4.9%

New Listings

21

25

+ 19.0%

21

25

+ 19.0%

Closed Sales

12

26

+ 116.7%

12

26

+ 116.7%

Closed Sales

9

16

+ 77.8%

9

16

+ 77.8%

Median Sales Price*

$782,500

$1,240,250

+ 58.5%

$782,500

$1,240,250

+ 58.5%

Median Sales Price*

$465,000

$507,500

+ 9.1%

$465,000

$507,500

+ 9.1%

Average Sales Price*

$894,583

$1,726,577

+ 93.0%

$894,583

$1,726,577

+ 93.0%

Average Sales Price*

$556,556

$562,019

+ 1.0%

$556,556

$562,019

+ 1.0%

86.9%

91.9%

+ 5.8%

86.9%

91.9%

+ 5.8%

Percent of Original List Price Received*

91.6%

94.5%

+ 3.2%

91.6%

94.5%

+ 3.2%

Days on Market Until Sale

136

116

- 14.7%

136

116

- 14.7%

Days on Market Until Sale

49

50

+ 2.0%

49

50

+ 2.0%

Inventory of Homes for Sale

185

144

- 22.2%

--

--

--

Inventory of Homes for Sale

73

66

- 9.6%

--

--

--

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

January

Year to Date

January

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

33

38

+ 15.2%

33

38

+ 15.2%

New Listings

5

2

- 60.0%

5

2

- 60.0%

Closed Sales

12

10

- 16.7%

12

10

- 16.7%

Closed Sales

3

0

- 100.0%

3

0

- 100.0%

Median Sales Price*

$672,000

$695,000

+ 3.4%

$672,000

$695,000

+ 3.4%

Median Sales Price*

$255,000

$0

- 100.0%

$255,000

$0

- 100.0%

Average Sales Price*

$736,917

$994,300

+ 34.9%

$736,917

$994,300

+ 34.9%

Average Sales Price*

$250,333

$0

- 100.0%

$250,333

$0

- 100.0%

86.2%

90.3%

+ 4.8%

86.2%

90.3%

+ 4.8%

Percent of Original List Price Received*

98.6%

0.0%

- 100.0%

98.6%

0.0%

- 100.0%

Days on Market Until Sale

209

139

- 33.5%

209

139

- 33.5%

Days on Market Until Sale

65

0

- 100.0%

65

0

- 100.0%

Inventory of Homes for Sale

164

154

- 6.1%

--

--

--

Inventory of Homes for Sale

21

4

- 81.0%

--

--

--

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 $1,400,000

* 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 —

$700,000

$1,200,000

Single-Family Detached All MLS — Downtown Charleston —

$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 February 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 February 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 – January 2021

Local Market Update – January 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 January

Single-Family Detached

Year to Date

January

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

81

66

- 18.5%

81

66

- 18.5%

New Listings

122

124

+ 1.6%

122

124

+ 1.6%

Closed Sales

48

67

+ 39.6%

48

67

+ 39.6%

Closed Sales

82

82

0.0%

82

82

0.0%

Median Sales Price*

$564,000

$660,000

+ 17.0%

$564,000

$660,000

+ 17.0%

Median Sales Price*

$532,453

$602,750

+ 13.2%

$532,453

$602,750

+ 13.2%

Average Sales Price*

$662,410

$787,186

+ 18.8%

$662,410

$787,186

+ 18.8%

Average Sales Price*

$553,024

$673,686

+ 21.8%

$553,024

$673,686

+ 21.8%

94.4%

95.8%

+ 1.5%

94.4%

95.8%

+ 1.5%

Percent of Original List Price Received*

96.8%

99.0%

+ 2.3%

96.8%

99.0%

+ 2.3%

Days on Market Until Sale

64

53

- 17.2%

64

53

- 17.2%

Days on Market Until Sale

69

26

- 62.3%

69

26

- 62.3%

Inventory of Homes for Sale

235

62

- 73.6%

--

--

--

Inventory of Homes for Sale

309

71

- 77.0%

--

--

--

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

January

Year to Date

January

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

43

45

+ 4.7%

43

45

+ 4.7%

New Listings

35

30

- 14.3%

35

30

- 14.3%

Closed Sales

14

28

+ 100.0%

14

28

+ 100.0%

Closed Sales

13

21

+ 61.5%

13

21

+ 61.5%

Median Sales Price*

$228,750

$291,000

+ 27.2%

$228,750

$291,000

+ 27.2%

Median Sales Price*

$270,000

$295,000

+ 9.3%

$270,000

$295,000

+ 9.3%

Average Sales Price*

$238,132

$349,736

+ 46.9%

$238,132

$349,736

+ 46.9%

Average Sales Price*

$293,998

$306,781

+ 4.3%

$293,998

$306,781

+ 4.3%

96.8%

96.9%

+ 0.1%

96.8%

96.9%

+ 0.1%

Percent of Original List Price Received*

97.2%

98.1%

+ 0.9%

97.2%

98.1%

+ 0.9%

Days on Market Until Sale

49

49

0.0%

49

49

0.0%

Days on Market Until Sale

84

46

- 45.2%

84

46

- 45.2%

Inventory of Homes for Sale

90

34

- 62.2%

--

--

--

Inventory of Homes for Sale

76

14

- 81.6%

--

--

--

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.

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 February 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

All MLS — Upper Mount Pleasant —

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of February 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 – January 2021

Local Market Update – January 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 January

Single-Family Detached

Year to Date

January

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

22

18

- 18.2%

22

18

- 18.2%

New Listings

4

4

0.0%

4

4

0.0%

Closed Sales

10

16

+ 60.0%

10

16

+ 60.0%

Closed Sales

3

5

+ 66.7%

3

5

+ 66.7%

Median Sales Price*

$940,000

$1,172,500

+ 24.7%

$940,000

$1,172,500

+ 24.7%

Median Sales Price*

$3,100,000

$3,188,775

+ 2.9%

$3,100,000

$3,188,775

+ 2.9%

Average Sales Price*

$1,025,550

$1,833,156

+ 78.7%

$1,025,550

$1,833,156

+ 78.7%

Average Sales Price*

$2,833,333

$2,927,755

+ 3.3%

$2,833,333

$2,927,755

+ 3.3%

90.5%

93.1%

+ 2.9%

90.5%

93.1%

+ 2.9%

Percent of Original List Price Received*

93.7%

96.6%

+ 3.1%

93.7%

96.6%

+ 3.1%

Days on Market Until Sale

123

68

- 44.7%

123

68

- 44.7%

Days on Market Until Sale

74

122

+ 64.9%

74

122

+ 64.9%

Inventory of Homes for Sale

126

22

- 82.5%

--

--

--

Inventory of Homes for Sale

19

12

- 36.8%

--

--

--

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

January

Year to Date

January

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

11

10

- 9.1%

11

10

- 9.1%

New Listings

0

1

--

0

1

--

Closed Sales

6

15

+ 150.0%

6

15

+ 150.0%

Closed Sales

1

0

- 100.0%

1

0

- 100.0%

Median Sales Price*

$777,500

$685,000

- 11.9%

$777,500

$685,000

- 11.9%

Median Sales Price*

$1,600,000

$0

- 100.0%

$1,600,000

$0

- 100.0%

Average Sales Price*

$846,389

$734,890

- 13.2%

$846,389

$734,890

- 13.2%

Average Sales Price*

$1,600,000

$0

- 100.0%

$1,600,000

$0

- 100.0%

92.6%

92.4%

- 0.2%

92.6%

92.4%

- 0.2%

Percent of Original List Price Received*

87.7%

0.0%

- 100.0%

87.7%

0.0%

- 100.0%

Days on Market Until Sale

149

134

- 10.1%

149

134

- 10.1%

Days on Market Until Sale

516

0

- 100.0%

516

0

- 100.0%

Inventory of Homes for Sale

72

27

- 62.5%

--

--

--

1

1

0.0%

--

--

--

Percent of Original List Price Received*

Inventory of Homes for Sale

* 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

Single-Family Detached All MLS — Isle of Palms —

$700,000

$1,200,000

$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 February 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 February 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 – January 2021

Local Market Update – January 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 January

Single-Family Detached

Year to Date

January

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

76

55

- 27.6%

76

55

- 27.6%

New Listings

186

115

- 38.2%

186

115

- 38.2%

Closed Sales

49

39

- 20.4%

49

39

- 20.4%

Closed Sales

78

86

+ 10.3%

78

86

+ 10.3%

Median Sales Price*

$355,000

$415,000

+ 16.9%

$355,000

$415,000

+ 16.9%

Median Sales Price*

$296,000

$342,450

+ 15.7%

$296,000

$342,450

+ 15.7%

Average Sales Price*

$432,836

$478,980

+ 10.7%

$432,836

$478,980

+ 10.7%

Average Sales Price*

$320,892

$396,255

+ 23.5%

$320,892

$396,255

+ 23.5%

94.5%

96.7%

+ 2.3%

94.5%

96.7%

+ 2.3%

Percent of Original List Price Received*

95.4%

96.7%

+ 1.4%

95.4%

96.7%

+ 1.4%

Days on Market Until Sale

54

30

- 44.4%

54

30

- 44.4%

Days on Market Until Sale

49

31

- 36.7%

49

31

- 36.7%

Inventory of Homes for Sale

164

44

- 73.2%

--

--

--

Inventory of Homes for Sale

308

98

- 68.2%

--

--

--

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

January

Year to Date

January

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

24

17

- 29.2%

24

17

- 29.2%

New Listings

42

41

- 2.4%

42

41

- 2.4%

Closed Sales

10

15

+ 50.0%

10

15

+ 50.0%

Closed Sales

26

26

0.0%

26

26

0.0%

Median Sales Price*

$226,000

$240,000

+ 6.2%

$226,000

$240,000

+ 6.2%

Median Sales Price*

$233,529

$192,500

- 17.6%

$233,529

$192,500

- 17.6%

Average Sales Price*

$203,240

$253,767

+ 24.9%

$203,240

$253,767

+ 24.9%

Average Sales Price*

$230,165

$198,755

- 13.6%

$230,165

$198,755

- 13.6%

95.2%

97.0%

+ 1.9%

95.2%

97.0%

+ 1.9%

Percent of Original List Price Received*

96.6%

98.0%

+ 1.4%

96.6%

98.0%

+ 1.4%

Days on Market Until Sale

42

55

+ 31.0%

42

55

+ 31.0%

Days on Market Until Sale

55

24

- 56.4%

55

24

- 56.4%

Inventory of Homes for Sale

52

14

- 73.1%

--

--

--

Inventory of Homes for Sale

90

34

- 62.2%

--

--

--

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

Single-Family Detached All MLS — James Island —

$240,000

$400,000

$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 February 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 February 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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