JULY 2022 REAL ESTATE REPORT
PRESENTED
BY THE CASSINA GROUP
The Cassina Group: Our Story
Our EspeciallyPhilosophyfortoday’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.
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.
MARKET REPORTS
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.
Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 32 25 - 21.9%274 199 - 27.4% Closed Sales 29 18 - 37.9%260 177 - 31.9% Median Sales Price* $774,000 $1,437,500 + 85.7%$992,500 $1,285,000 + 29.5% Average Sales Price* $1,456,231 $1,970,667 + 35.3%$1,407,872 $1,729,834 + 22.9% Percent of Original List Price Received*96.6% 103.2% + 6.8%94.1% 97.3% + 3.4% Days on Market Until Sale 43 12 - 72.1%92 48 - 47.8% Inventory of Homes for Sale 91 49 - 46.2% Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 31 18 - 41.9%264 213 - 19.3% Closed Sales 28 19 - 32.1%210 197 - 6.2% Median Sales Price* $735,000 $675,000 - 8.2%$658,700 $660,000 + 0.2% Average Sales Price* $970,982 $1,147,079 + 18.1%$822,241 $923,575 + 12.3% Percent of Original List Price Received*97.0% 97.3% + 0.3%94.0% 97.8% + 4.0% Days on Market Until Sale 46 7 - 84.8%101 56 - 44.6% Inventory of Homes for Sale 113 43 - 61.9% Downtown Charleston — Downtown Charleston — Current as of August 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS —All MLS — Local Market Update – July 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown CharlestonJuly 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 July 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 $1,400,000$1,200,000$1,000,000$800,000$600,000$400,000$200,000$01-20121-20141-20161-20181-20201-2022 Single-Family Detached $700,000$600,000$500,000$400,000$300,000$200,000$100,0001-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 28 12 - 57.1%171 166 - 2.9% Closed Sales 16 12 - 25.0%170 131 - 22.9% Median Sales Price* $599,950 $705,000 + 17.5%$589,500 $650,000 + 10.3% Average Sales Price* $578,247 $821,083 + 42.0%$595,646 $755,953 + 26.9% Percent of Original List Price Received*97.1% 99.5% + 2.5%96.1% 98.9% + 2.9% Days on Market Until Sale 32 12 - 62.5%64 33 - 48.4% Inventory of Homes for Sale 40 26 - 35.0% Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 8 3 - 62.5%33 24 - 27.3% Closed Sales 4 4 0.0% 19 25 + 31.6% Median Sales Price* $613,000 $437,500 - 28.6%$516,000 $415,000 - 19.6% Average Sales Price* $692,750 $432,234 - 37.6%$565,105 $461,473 - 18.3% Percent of Original List Price Received*96.7% 96.4% - 0.3%98.5% 96.4% - 2.1% Days on Market Until Sale 71 5 - 93.0%34 64 + 88.2% Inventory of Homes for Sale 12 3 - 75.0% Upper Charleston Peninsula — Upper Charleston Peninsula — Current as of August 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS —All MLS — Local Market Update – July 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Charleston PeninsulaJuly 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 July 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 $700,000$600,000$500,000$400,000$300,000$200,000$100,0001-20121-20141-20161-20181-20201-2022 Single-Family Detached $500,000$400,000$300,000$200,000$100,0001-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 96 86 - 10.4%643 578 - 10.1% Closed Sales 78 66 - 15.4%612 458 - 25.2% Median Sales Price* $745,000 $952,000 + 27.8%$720,000 $910,000 + 26.4% Average Sales Price* $875,298 $1,235,451 + 41.1%$885,424 $1,189,453 + 34.3% Percent of Original List Price Received*100.0% 98.7% - 1.3%98.9% 100.6% + 1.7% Days on Market Until Sale 10 13 + 30.0%24 11 - 54.2% Inventory of Homes for Sale 78 93 + 19.2%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 54 22 - 59.3%372 249 - 33.1% Closed Sales 36 27 - 25.0%336 225 - 33.0% Median Sales Price* $309,500 $361,000 + 16.6%$300,000 $380,000 + 26.7% Average Sales Price* $398,710 $490,713 + 23.1%$401,437 $515,986 + 28.5% Percent of Original List Price Received*100.1% 98.4% - 1.7%99.8% 101.4% + 1.6% Days on Market Until Sale 10 10 0.0% 24 9 - 62.5% Inventory of Homes for Sale 30 29 - 3.3% Lower Mount Pleasant — Lower Mount Pleasant — Current as of August 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS —All MLS — Local Market Update – July 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® Lower Mount PleasantJuly 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 July 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 $1,000,000$800,000$600,000$400,000$200,000$01-20121-20141-20161-20181-20201-2022 Single-Family Detached $400,000$350,000$300,000$250,000$200,000$150,000$100,0001-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 129 112 - 13.2%872 752 - 13.8% Closed Sales 120 76 - 36.7%799 576 - 27.9% Median Sales Price* $683,500 $772,500 + 13.0%$620,140 $808,000 + 30.3% Average Sales Price* $764,962 $889,179 + 16.2%$705,772 $909,635 + 28.9% Percent of Original List Price Received*101.4% 99.5% - 1.9%100.8% 101.2% + 0.4% Days on Market Until Sale 7 9 + 28.6%18 12 - 33.3% Inventory of Homes for Sale 84 140 + 66.7%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 37 29 - 21.6%232 229 - 1.3% Closed Sales 31 29 - 6.5%209 198 - 5.3% Median Sales Price* $351,032 $367,000 + 4.5%$326,000 $416,443 + 27.7% Average Sales Price* $374,001 $412,513 + 10.3%$332,344 $421,081 + 26.7% Percent of Original List Price Received*101.8% 100.2% - 1.6%100.8% 102.0% + 1.2% Days on Market Until Sale 6 6 0.0% 14 11 - 21.4% Inventory of Homes for Sale 20 25 + 25.0%-Upper Mount Pleasant — Upper Mount Pleasant — Current as of August 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS —All MLS — Local Market Update – July 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® Upper Mount PleasantJuly 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 July 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 $800,000$700,000$600,000$500,000$400,000$300,000$200,000$100,0001-20121-20141-20161-20181-20201-2022 Single-Family Detached $500,000$400,000$300,000$200,000$100,0001-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 35 22 - 37.1%207 156 - 24.6% Closed Sales 25 11 - 56.0%176 113 - 35.8% Median Sales Price* $1,735,000 $2,580,000 + 48.7%$1,700,000 $2,000,000 + 17.6% Average Sales Price* $2,045,576 $2,899,070 + 41.7%$2,023,232 $2,319,593 + 14.6% Percent of Original List Price Received*99.4% 93.6% - 5.8%97.3% 97.8% + 0.5% Days on Market Until Sale 12 29 + 141.7%31 26 - 16.1% Inventory of Homes for Sale 40 51 + 27.5%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 7 11 + 57.1%81 87 + 7.4% Closed Sales 11 5 - 54.5%80 55 - 31.3% Median Sales Price* $680,000 $1,090,000 + 60.3%$704,375 $875,000 + 24.2% Average Sales Price* $678,818 $1,055,000 + 55.4%$732,435 $983,944 + 34.3% Percent of Original List Price Received*98.9% 100.5% + 1.6%97.9% 99.1% + 1.2% Days on Market Until Sale 17 16 - 5.9% 70 34 - 51.4% Inventory of Homes for Sale 25 32 + 28.0%-Isle of Palms — Isle of Palms — Current as of August 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS —All MLS — Local Market Update – July 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® Isle of Palms July 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 July 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 $2,000,000$1,500,000$1,000,000$500,000$01-20121-20141-20161-20181-20201-2022 Single-Family Detached $1,000,000$800,000$600,000$400,000$200,000$01-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 3 5 + 66.7%42 35 - 16.7% Closed Sales 1 2 + 100.0%32 23 - 28.1% Median Sales Price* $8,500,000 $7,450,000 - 12.4%$3,000,000 $4,177,125 + 39.2% Average Sales Price* $8,500,000 $7,450,000 - 12.4%$3,294,462 $4,479,310 + 36.0% Percent of Original List Price Received*100.0% 97.9% - 2.1%96.4% 95.0% - 1.5% Days on Market Until Sale 127 10 - 92.1%83 32 - 61.4% Inventory of Homes for Sale 11 9 - 18.2% Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 0 0 5 2 - 60.0% Closed Sales 1 2 + 100.0%3 4 + 33.3% Median Sales Price* $575,000 $1,543,750 + 168.5%$580,000 $1,812,500 + 212.5% Average Sales Price* $575,000 $1,543,750 + 168.5%$578,333 $1,678,125 + 190.2% Percent of Original List Price Received*82.7% 94.8% + 14.6%83.2% 90.9% + 9.3% Days on Market Until Sale 69 30 - 56.5%23 49 + 113.0% Inventory of Homes for Sale 1 0 - 100.0%-Sullivan's Island — Sullivan's Island — Current as of August 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS —All MLS — Local Market Update – July 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® Sullivan's Island July 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 July 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 $4,000,000$3,000,000$2,000,000$1,000,000$01-20121-20141-20161-20181-20201-2022 Single-Family Detached $4,000,000$3,000,000$2,000,000$1,000,000$01-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 69 49 - 29.0%492 436 - 11.4% Closed Sales 69 40 - 42.0%428 367 - 14.3% Median Sales Price* $460,000 $600,000 + 30.4%$450,000 $565,000 + 25.6% Average Sales Price* $510,847 $709,713 + 38.9%$545,705 $634,656 + 16.3% Percent of Original List Price Received*99.7% 98.8% - 0.9%99.1% 101.2% + 2.1% Days on Market Until Sale 13 10 - 23.1%20 13 - 35.0% Inventory of Homes for Sale 49 59 + 20.4%-Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 35 20 - 42.9%189 173 - 8.5% Closed Sales 34 20 - 41.2%180 156 - 13.3% Median Sales Price* $275,000 $306,250 + 11.4%$225,000 $288,250 + 28.1% Average Sales Price* $267,029 $308,650 + 15.6%$241,430 $302,712 + 25.4% Percent of Original List Price Received*102.8% 101.3% - 1.5%99.3% 102.4% + 3.1% Days on Market Until Sale 7 9 + 28.6%24 9 - 62.5% Inventory of Homes for Sale 19 10 - 47.4% James Island — James Island — Current as of August 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS —All MLS — Local Market Update – July 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® James Island July 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 July 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 $600,000$500,000$400,000$300,000$200,000$100,0001-20121-20141-20161-20181-20201-2022 Single-Family Detached $350,000$300,000$250,000$200,000$150,000$100,0001-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached Single-Family Detached Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 162 125 - 22.8%957 985 + 2.9% Closed Sales 116 107 - 7.8%812 859 + 5.8% Median Sales Price* $411,000 $485,000 + 18.0%$380,000 $446,000 + 17.4% Average Sales Price* $449,326 $527,208 + 17.3%$437,476 $501,381 + 14.6% Percent of Original List Price Received*100.4% 100.2% - 0.2%99.5% 101.2% + 1.7% Days on Market Until Sale 11 10 - 9.1% 19 14 - 26.3% Inventory of Homes for Sale 154 118 - 23.4% Key Metrics 20212022 Percent Change 20212022 Percent Change New Listings 57 42 - 26.3%355 295 - 16.9% Closed Sales 48 31 - 35.4%318 280 - 11.9% Median Sales Price* $254,250 $292,000 + 14.8%$240,000 $321,500 + 34.0% Average Sales Price* $247,111 $298,911 + 21.0%$235,821 $308,340 + 30.8% Percent of Original List Price Received*101.5% 101.8% + 0.3%100.0% 102.5% + 2.5% Days on Market Until Sale 9 5 - 44.4%18 11 - 38.9% Inventory of Homes for Sale 33 25 - 24.2% West Ashley Area — West Ashley Area — Current as of August 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. All MLS —All MLS — Local Market Update – July 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® West Ashley Area July 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 July 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 $500,000$400,000$300,000$200,000$100,0001-20121-20141-20161-20181-20201-2022 Single-Family Detached $350,000$300,000$250,000$200,000$150,000$100,0001-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
132 East Bay Street, Charleston, SC 29401 309 Coleman Boulevard, Mount Pleasant, SC 29464 843.628.0008 | TheCassinaGroup.com FOLLOW THE CASSINA GROUP
