January 2024 Real Estate Report | The Cassina Group

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JANUARY 2024

REAL ESTATE REPORT

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.

Single-Family Detached Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 13 26 + 100.0%13 26 + 100.0% Closed Sales 6 14 + 133.3%6 14 + 133.3% Median Sales Price* $2,105,500 $1,175,000 - 44.2%$2,105,500 $1,175,000 - 44.2% Average Sales Price* $2,050,167 $1,491,429 - 27.3%$2,050,167 $1,491,429 - 27.3% Percent of Original List Price Received*96.2% 94.2% - 2.1%96.2% 94.2% - 2.1% Days on Market Until Sale 41 35 - 14.6%41 35 - 14.6% Inventory of Homes for Sale 44 47 + 6.8% Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 12 25 + 108.3%12 25 + 108.3% Closed Sales 13 12 - 7.7% 13 12 - 7.7% Median Sales Price* $807,000 $850,000 + 5.3%$807,000 $850,000 + 5.3% Average Sales Price* $880,038 $1,256,575 + 42.8%$880,038 $1,256,575 + 42.8% Percent of Original List Price Received*95.7% 95.9% + 0.2%95.7% 95.9% + 0.2% Days on Market Until Sale 41 40 - 2.4% 41 40 - 2.4% Inventory of Homes for Sale 53 65 + 22.6%-All MLS — All MLS — Local Market Update – January 2024 A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown Charleston January Year to Date * 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. Area 51 January Year to Date * 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 Downtown Charleston — Downtown Charleston — Current as of February 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2024 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $250,000 $500,000 $750,000 $1,000,000 $1,250,000 $1,500,000 $1,750,000 1-20141-20161-20181-20201-20221-2024 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 1-20141-20161-20181-20201-20221-2024 Townhouse-Condo Attached
Single-Family Detached Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 6 16 + 166.7%6 16 + 166.7% Closed Sales 10 3 - 70.0%10 3 - 70.0% Median Sales Price* $635,000 $800,000 + 26.0%$635,000 $800,000 + 26.0% Average Sales Price* $696,249 $851,667 + 22.3%$696,249 $851,667 + 22.3% Percent of Original List Price Received*95.2% 98.0% + 2.9%95.2% 98.0% + 2.9% Days on Market Until Sale 20 22 + 10.0%20 22 + 10.0% Inventory of Homes for Sale 22 29 + 31.8%-Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 2 1 - 50.0% 2 1 - 50.0% Closed Sales 1 1 0.0% 1 1 0.0% Median Sales Price* $450,000 $970,000 + 115.6%$450,000 $970,000 + 115.6% Average Sales Price* $450,000 $970,000 + 115.6%$450,000 $970,000 + 115.6% Percent of Original List Price Received*100.0% 97.5% - 2.5%100.0% 97.5% - 2.5% Days on Market Until Sale 19 20 + 5.3% 19 20 + 5.3% Inventory of Homes for Sale 6 4 - 33.3% All MLS — All MLS — Local Market Update – January 2024 A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Charleston Peninsula January Year to Date * 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. Area 52 January Year to Date * 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 Upper Charleston Peninsula — Upper Charleston Peninsula — Current as of February 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2024 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000 $900,000 1-20141-20161-20181-20201-20221-2024 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 1-20141-20161-20181-20201-20221-2024 Townhouse-Condo Attached
Single-Family Detached Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 46 66 + 43.5%46 66 + 43.5% Closed Sales 29 37 + 27.6%29 37 + 27.6% Median Sales Price* $907,500 $986,000 + 8.7%$907,500 $986,000 + 8.7% Average Sales Price* $1,360,782 $1,559,539 + 14.6%$1,360,782 $1,559,539 + 14.6% Percent of Original List Price Received*96.9% 94.2% - 2.8%96.9% 94.2% - 2.8% Days on Market Until Sale 20 25 + 25.0%20 25 + 25.0% Inventory of Homes for Sale 70 60 - 14.3% Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 17 24 + 41.2%17 24 + 41.2% Closed Sales 14 17 + 21.4%14 17 + 21.4% Median Sales Price* $360,000 $420,000 + 16.7%$360,000 $420,000 + 16.7% Average Sales Price* $381,064 $515,788 + 35.4%$381,064 $515,788 + 35.4% Percent of Original List Price Received*97.2% 96.1% - 1.1%97.2% 96.1% - 1.1% Days on Market Until Sale 24 20 - 16.7%24 20 - 16.7% Inventory of Homes for Sale 21 24 + 14.3%-All MLS — All MLS — Local Market Update – January 2024 A Research Tool Provided by the Charleston Trident Association of REALTORS®
Mount Pleasant January Year to Date * 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. Area 42 January Year to Date * 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 Lower Mount Pleasant — Lower Mount Pleasant — Current as of February 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2024 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20141-20161-20181-20201-20221-2024 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 1-20141-20161-20181-20201-20221-2024 Townhouse-Condo Attached
Lower
Single-Family Detached Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 56 83 + 48.2%56 83 + 48.2% Closed Sales 43 47 + 9.3% 43 47 + 9.3% Median Sales Price* $750,000 $999,900 + 33.3%$750,000 $999,900 + 33.3% Average Sales Price* $943,731 $1,164,580 + 23.4%$943,731 $1,164,580 + 23.4% Percent of Original List Price Received*92.9% 96.6% + 4.0%92.9% 96.6% + 4.0% Days on Market Until Sale 48 40 - 16.7%48 40 - 16.7% Inventory of Homes for Sale 105 85 - 19.0% Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 19 26 + 36.8%19 26 + 36.8% Closed Sales 12 7 - 41.7%12 7 - 41.7% Median Sales Price* $437,500 $387,000 - 11.5%$437,500 $387,000 - 11.5% Average Sales Price* $457,063 $492,669 + 7.8%$457,063 $492,669 + 7.8% Percent of Original List Price Received*94.9% 98.6% + 3.9%94.9% 98.6% + 3.9% Days on Market Until Sale 45 15 - 66.7%45 15 - 66.7% Inventory of Homes for Sale 25 22 - 12.0% All MLS — All MLS — Local Market Update – January 2024 A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Mount Pleasant January Year to Date * 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. Area 41 January Year to Date * 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 Upper Mount Pleasant — Upper Mount Pleasant — Current as of February 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2024 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20141-20161-20181-20201-20221-2024 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 1-20141-20161-20181-20201-20221-2024 Townhouse-Condo Attached
Single-Family Detached Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 8 16 + 100.0%8 16 + 100.0% Closed Sales 6 3 - 50.0% 6 3 - 50.0% Median Sales Price* $2,045,000 $1,830,000 - 10.5%$2,045,000 $1,830,000 - 10.5% Average Sales Price* $2,665,000 $1,775,000 - 33.4%$2,665,000 $1,775,000 - 33.4% Percent of Original List Price Received*91.3% 98.2% + 7.6%91.3% 98.2% + 7.6% Days on Market Until Sale 75 8 - 89.3%75 8 - 89.3% Inventory of Homes for Sale 33 40 + 21.2%-Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 3 12 + 300.0%3 12 + 300.0% Closed Sales 3 7 + 133.3%3 7 + 133.3% Median Sales Price* $585,000 $1,030,000 + 76.1%$585,000 $1,030,000 + 76.1% Average Sales Price* $568,000 $1,010,143 + 77.8%$568,000 $1,010,143 + 77.8% Percent of Original List Price Received*99.4% 97.7% - 1.7%99.4% 97.7% - 1.7% Days on Market Until Sale 1 12 + 1,100.0%1 12 + 1,100.0% Inventory of Homes for Sale 9 20 + 122.2%-All MLS — All MLS — Local Market Update – January 2024 A Research Tool Provided by the Charleston Trident Association of REALTORS® Isle of Palms January Year to Date * 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. Areas 44 & 45 January Year to Date * 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 Isle of Palms — Isle of Palms — Current as of February 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2024 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 1-20141-20161-20181-20201-20221-2024 Single-Family Detached $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 1-20141-20161-20181-20201-20221-2024 Townhouse-Condo Attached
Single-Family Detached Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 6 6 0.0% 6 6 0.0% Closed Sales 2 1 - 50.0% 2 1 - 50.0% Median Sales Price* $3,600,000 $10,300,000 + 186.1%$3,600,000 $10,300,000 + 186.1% Average Sales Price* $3,600,000 $10,300,000 + 186.1%$3,600,000 $10,300,000 + 186.1% Percent of Original List Price Received*104.0% 98.1% - 5.7%104.0% 98.1% - 5.7% Days on Market Until Sale 2 12 + 500.0%2 12 + 500.0% Inventory of Homes for Sale 15 21 + 40.0%-Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 0 0 0 0 Closed Sales 1 0 - 100.0%1 0 - 100.0% Median Sales Price* $1,375,000 $0 - 100.0%$1,375,000 $0 - 100.0% Average Sales Price* $1,375,000 $0 - 100.0%$1,375,000 $0 - 100.0% Percent of Original List Price Received*98.2% 0.0% - 100.0%98.2% 0.0% - 100.0% Days on Market Until Sale 38 0 - 100.0%38 0 - 100.0% Inventory of Homes for Sale 0 0 All MLS — All MLS — Local Market Update – January 2024 A Research Tool Provided by the Charleston Trident Association of REALTORS® Sullivan's Island January Year to Date * 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. Area 43
Year to Date * 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.
12-Month Calculation Townhouse-Condo
Sullivan's Island — Sullivan's Island — Current as of February 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2024 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 1-20141-20161-20181-20201-20221-2024 Single-Family Detached $0 $500,000 $1,000,000 $1,500,000 $2,000,000 1-20141-20161-20181-20201-20221-2024 Townhouse-Condo Attached
January
Historical Median Sales Price Rolling
Attached
Single-Family Detached Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 32 38 + 18.8%32 38 + 18.8% Closed Sales 26 28 + 7.7% 26 28 + 7.7% Median Sales Price* $560,000 $593,000 + 5.9%$560,000 $593,000 + 5.9% Average Sales Price* $582,590 $791,929 + 35.9%$582,590 $791,929 + 35.9% Percent of Original List Price Received*95.8% 94.5% - 1.4%95.8% 94.5% - 1.4% Days on Market Until Sale 26 31 + 19.2%26 31 + 19.2% Inventory of Homes for Sale 47 55 + 17.0%-Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 11 9 - 18.2%11 9 - 18.2% Closed Sales 9 8 - 11.1% 9 8 - 11.1% Median Sales Price* $245,000 $339,500 + 38.6%$245,000 $339,500 + 38.6% Average Sales Price* $323,000 $358,438 + 11.0%$323,000 $358,438 + 11.0% Percent of Original List Price Received*96.4% 96.4% 0.0%96.4% 96.4% 0.0% Days on Market Until Sale 25 34 + 36.0%25 34 + 36.0% Inventory of Homes for Sale 5 10 + 100.0%-All MLS — All MLS — Local Market Update – January 2024 A Research Tool Provided by the Charleston Trident Association of REALTORS® James Island January Year to Date * 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. Area 21
Year to Date * 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 James Island — James Island — Current as of February 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2024 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 1-20141-20161-20181-20201-20221-2024 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 1-20141-20161-20181-20201-20221-2024 Townhouse-Condo Attached
January
Single-Family Detached Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 98 81 - 17.3%98 81 - 17.3% Closed Sales 54 46 - 14.8%54 46 - 14.8% Median Sales Price* $419,000 $482,500 + 15.2%$419,000 $482,500 + 15.2% Average Sales Price* $484,128 $504,505 + 4.2%$484,128 $504,505 + 4.2% Percent of Original List Price Received*93.3% 95.3% + 2.1%93.3% 95.3% + 2.1% Days on Market Until Sale 46 30 - 34.8%46 30 - 34.8% Inventory of Homes for Sale 103 94 - 8.7% Key Metrics 20232024 Percent Change 20232024 Percent Change New Listings 27 38 + 40.7%27 38 + 40.7% Closed Sales 16 19 + 18.8%16 19 + 18.8% Median Sales Price* $297,500 $375,000 + 26.1%$297,500 $375,000 + 26.1% Average Sales Price* $352,813 $381,311 + 8.1%$352,813 $381,311 + 8.1% Percent of Original List Price Received*94.8% 97.7% + 3.1%94.8% 97.7% + 3.1% Days on Market Until Sale 19 26 + 36.8%19 26 + 36.8% Inventory of Homes for Sale 24 34 + 41.7%-All MLS — All MLS — Local Market Update – January 2024 A Research Tool Provided by the Charleston Trident Association of REALTORS®
Ashley Area January Year to Date * 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. Areas 11 & 12 January Year to Date * 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 West Ashley Area — West Ashley Area — Current as of February 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2024 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $200,000 $300,000 $400,000 $500,000 $600,000 1-20141-20161-20181-20201-20221-2024 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 1-20141-20161-20181-20201-20221-2024 Townhouse-Condo Attached
West
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