July 2020 Real Estate Report | The Cassina Group

Page 1

JULY 2020

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 – July 2020

Local Market Update – July 2020

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 July

Single-Family Detached

Year to Date

July

Single-Family Detached

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

36

53

+ 47.2%

293

289

- 1.4%

New Listings

24

36

+ 50.0%

176

197

+ 11.9%

Closed Sales

17

28

+ 64.7%

108

116

+ 7.4%

Closed Sales

16

20

+ 25.0%

125

118

- 5.6%

Median Sales Price*

$1,025,000

$710,000

- 30.7%

$1,032,518

$806,950

- 21.8%

Median Sales Price*

$450,000

$473,750

+ 5.3%

$449,000

$533,000

+ 18.7%

Average Sales Price*

$1,274,414

$1,438,366

+ 12.9%

$1,416,626

$1,200,625

- 15.2%

Average Sales Price*

$461,969

$508,382

+ 10.0%

$479,146

$577,112

+ 20.4%

91.3%

88.1%

- 3.5%

90.7%

89.2%

- 1.7%

Percent of Original List Price Received*

86.6%

92.8%

+ 7.2%

90.7%

92.5%

+ 2.0%

Days on Market Until Sale

121

109

- 9.9%

91

117

+ 28.6%

Days on Market Until Sale

60

38

- 36.7%

68

60

- 11.8%

Inventory of Homes for Sale

226

211

- 6.6%

--

--

--

Inventory of Homes for Sale

85

86

+ 1.2%

--

--

--

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

July

Year to Date

July

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

25

43

+ 72.0%

277

264

- 4.7%

New Listings

4

5

+ 25.0%

22

22

0.0%

Closed Sales

14

15

+ 7.1%

102

97

- 4.9%

Closed Sales

3

3

0.0%

13

15

+ 15.4%

Median Sales Price*

$477,500

$635,000

+ 33.0%

$603,750

$607,000

+ 0.5%

Median Sales Price*

$280,000

$575,000

+ 105.4%

$280,000

$307,500

+ 9.8%

Average Sales Price*

$523,821

$682,850

+ 30.4%

$720,135

$879,262

+ 22.1%

Average Sales Price*

$330,000

$470,000

+ 42.4%

$361,835

$409,033

+ 13.0%

94.6%

93.4%

- 1.3%

92.5%

91.9%

- 0.6%

98.1%

90.2%

- 8.1%

93.0%

94.5%

+ 1.6%

Days on Market Until Sale

78

86

+ 10.3%

90

126

+ 40.0%

Days on Market Until Sale

10

181

+ 1,710.0%

72

85

+ 18.1%

Inventory of Homes for Sale

202

194

- 4.0%

--

--

--

Inventory of Homes for Sale

13

12

- 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.

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

Percent of Original List Price Received*

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

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

$200,000

$200,000

$200,000

$200,000 $0 1-2010

All MLS — Upper Charleston Peninsula —

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of August 7, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of August 7, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – July 2020

Local Market Update – July 2020

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 July

Single-Family Detached

Year to Date

July

Single-Family Detached

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

96

120

+ 25.0%

796

689

- 13.4%

New Listings

125

214

+ 71.2%

1,035

917

- 11.4%

Closed Sales

71

124

+ 74.6%

496

517

+ 4.2%

Closed Sales

126

141

+ 11.9%

671

669

- 0.3%

Median Sales Price*

$565,000

$634,500

+ 12.3%

$574,338

$589,000

+ 2.6%

Median Sales Price*

$507,733

$565,000

+ 11.3%

$510,000

$535,000

+ 4.9%

Average Sales Price*

$681,171

$767,056

+ 12.6%

$707,960

$707,575

- 0.1%

Average Sales Price*

$551,782

$632,151

+ 14.6%

$563,485

$591,981

+ 5.1%

96.0%

96.4%

+ 0.4%

94.7%

95.4%

+ 0.7%

Percent of Original List Price Received*

96.5%

97.2%

+ 0.7%

96.6%

97.2%

+ 0.6%

Days on Market Until Sale

62

54

- 12.9%

61

60

- 1.6%

Days on Market Until Sale

72

63

- 12.5%

69

63

- 8.7%

Inventory of Homes for Sale

329

197

- 40.1%

--

--

--

Inventory of Homes for Sale

417

248

- 40.5%

--

--

--

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

July

Year to Date

July

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

33

61

+ 84.8%

269

318

+ 18.2%

New Listings

38

37

- 2.6%

299

266

- 11.0%

Closed Sales

31

44

+ 41.9%

193

205

+ 6.2%

Closed Sales

32

45

+ 40.6%

201

181

- 10.0%

Median Sales Price*

$257,250

$247,500

- 3.8%

$250,000

$245,000

- 2.0%

Median Sales Price*

$318,500

$292,500

- 8.2%

$307,500

$306,000

- 0.5%

Average Sales Price*

$299,703

$268,173

- 10.5%

$351,249

$296,872

- 15.5%

Average Sales Price*

$310,836

$281,912

- 9.3%

$295,622

$305,596

+ 3.4%

95.2%

96.5%

+ 1.4%

95.2%

96.1%

+ 0.9%

Percent of Original List Price Received*

96.3%

96.9%

+ 0.6%

96.5%

97.1%

+ 0.6%

Days on Market Until Sale

52

41

- 21.2%

56

51

- 8.9%

Days on Market Until Sale

58

41

- 29.3%

58

61

+ 5.2%

Inventory of Homes for Sale

103

82

- 20.4%

--

--

--

Inventory of Homes for Sale

110

63

- 42.7%

--

--

--

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.

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 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$120,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of August 7, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of August 7, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – July 2020

Local Market Update – July 2020

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 July

Single-Family Detached

Year to Date

July

Single-Family Detached

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

13

29

+ 123.1%

209

172

- 17.7%

New Listings

5

13

+ 160.0%

46

45

- 2.2%

Closed Sales

17

28

+ 64.7%

114

107

- 6.1%

Closed Sales

8

5

- 37.5%

30

26

- 13.3%

Median Sales Price*

$935,000

$1,177,500

+ 25.9%

$1,050,000

$1,065,000

+ 1.4%

Median Sales Price*

$1,475,000

$2,315,000

+ 56.9%

$1,975,000

$2,457,500

+ 24.4%

Average Sales Price*

$1,100,047

$1,534,863

+ 39.5%

$1,357,406

$1,327,099

- 2.2%

Average Sales Price*

$2,537,375

$2,533,000

- 0.2%

$2,235,429

$2,455,096

+ 9.8%

90.2%

92.5%

+ 2.5%

92.0%

91.6%

- 0.4%

Percent of Original List Price Received*

87.7%

96.8%

+ 10.4%

87.5%

92.5%

+ 5.7%

Days on Market Until Sale

123

80

- 35.0%

99

110

+ 11.1%

Days on Market Until Sale

133

25

- 81.2%

107

70

- 34.6%

Inventory of Homes for Sale

152

67

- 55.9%

--

--

--

Inventory of Homes for Sale

31

19

- 38.7%

--

--

--

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

July

Year to Date

July

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

8

21

+ 162.5%

90

98

+ 8.9%

New Listings

1

1

0.0%

2

3

+ 50.0%

Closed Sales

6

17

+ 183.3%

45

67

+ 48.9%

Closed Sales

2

0

- 100.0%

3

3

0.0%

Median Sales Price*

$390,000

$570,000

+ 46.2%

$479,000

$585,000

+ 22.1%

Median Sales Price*

$1,211,250

$0

- 100.0%

$1,735,000

$1,600,000

- 7.8%

Average Sales Price*

$497,033

$626,471

+ 26.0%

$521,766

$650,268

+ 24.6%

Average Sales Price*

$1,211,250

$0

- 100.0%

$1,397,500

$1,264,077

- 9.5%

94.3%

93.5%

- 0.8%

95.2%

93.7%

- 1.6%

97.5%

0.0%

- 100.0%

96.5%

89.5%

- 7.3%

Days on Market Until Sale

147

127

- 13.6%

85

106

+ 24.7%

158

0

- 100.0%

170

353

+ 107.6%

Inventory of Homes for Sale

77

58

- 24.7%

--

--

--

2

1

- 50.0%

--

--

--

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

$1,200,000

Inventory of Homes for Sale

Historical Median Sales Price

Rolling 12-Month Calculation All MLS — Isle of Palms —

Days on Market Until 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.

Townhouse-Condo Attached

Single-Family Detached

Percent of Original List Price Received*

$700,000

$1,000,000

$600,000

$800,000

$500,000

Townhouse-Condo Attached

Single-Family Detached All MLS — Isle of Palms —

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 $1,500,000

$600,000

$400,000

$2,000,000 $1,000,000

$400,000

$300,000

$200,000

$200,000

$0 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

$1,000,000

$500,000

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of August 7, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$0 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$0 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of August 7, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – July 2020

Local Market Update – July 2020

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 July

Single-Family Detached

Year to Date

July

Single-Family Detached

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

81

73

- 9.9%

653

533

- 18.4%

New Listings

177

170

- 4.0%

1,173

1,196

+ 2.0%

Closed Sales

55

95

+ 72.7%

435

440

+ 1.1%

Closed Sales

135

161

+ 19.3%

791

921

+ 16.4%

Median Sales Price*

$363,756

$415,000

+ 14.1%

$361,325

$381,250

+ 5.5%

Median Sales Price*

$315,000

$339,900

+ 7.9%

$315,000

$320,000

+ 1.6%

Average Sales Price*

$429,981

$509,558

+ 18.5%

$449,634

$453,571

+ 0.9%

Average Sales Price*

$322,661

$437,666

+ 35.6%

$342,443

$364,277

+ 6.4%

96.1%

96.8%

+ 0.7%

95.5%

96.1%

+ 0.6%

Percent of Original List Price Received*

96.9%

97.2%

+ 0.3%

95.7%

96.6%

+ 0.9%

Days on Market Until Sale

41

40

- 2.4%

50

46

- 8.0%

Days on Market Until Sale

40

40

0.0%

48

44

- 8.3%

Inventory of Homes for Sale

206

94

- 54.4%

--

--

--

Inventory of Homes for Sale

394

195

- 50.5%

--

--

--

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

July

Year to Date

July

Year to Date

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

30

30

0.0%

199

177

- 11.1%

New Listings

62

59

- 4.8%

395

331

- 16.2%

Closed Sales

35

33

- 5.7%

160

127

- 20.6%

Closed Sales

57

57

0.0%

291

283

- 2.7%

Median Sales Price*

$168,000

$204,000

+ 21.4%

$204,250

$207,000

+ 1.3%

Median Sales Price*

$215,000

$191,500

- 10.9%

$210,000

$215,000

+ 2.4%

Average Sales Price*

$213,041

$196,277

- 7.9%

$217,005

$199,583

- 8.0%

Average Sales Price*

$216,294

$203,174

- 6.1%

$210,244

$214,820

+ 2.2%

96.4%

97.6%

+ 1.2%

96.8%

96.4%

- 0.4%

Percent of Original List Price Received*

97.9%

97.8%

- 0.1%

97.4%

96.9%

- 0.5%

Days on Market Until Sale

38

39

+ 2.6%

43

41

- 4.7%

Days on Market Until Sale

42

36

- 14.3%

44

52

+ 18.2%

Inventory of Homes for Sale

56

37

- 33.9%

--

--

--

Inventory of Homes for Sale

104

56

- 46.2%

--

--

--

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 —

$400,000

$240,000 $220,000

$350,000 $200,000 $300,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

Rolling 12-Month Calculation

All MLS — West Ashley Area —

$325,000

$240,000

$300,000

$220,000

$275,000

$200,000

$250,000

$180,000

$225,000

$160,000

$200,000

$140,000

$180,000 $160,000

$250,000

$140,000 $200,000 $120,000 $150,000 1-2010

All MLS — West Ashley Area —

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of August 7, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$175,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$120,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of August 7, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 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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