June 2020 Real Estate Report | The Cassina Group

Page 1

JUNE 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 – June 2020

Local Market Update – June 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 June

Single-Family Detached

Year to Date

June

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

24

58

+ 141.7%

257

236

- 8.2%

New Listings

31

30

- 3.2%

152

161

+ 5.9%

Closed Sales

22

14

- 36.4%

91

88

- 3.3%

Closed Sales

12

29

+ 141.7%

109

98

- 10.1%

Median Sales Price*

$1,104,000

$683,750

- 38.1%

$1,043,000

$872,500

- 16.3%

Median Sales Price*

$432,500

$545,000

+ 26.0%

$449,000

$547,500

+ 21.9%

Average Sales Price*

$1,045,034

$1,038,593

- 0.6%

$1,443,194

$1,124,981

- 22.0%

Average Sales Price*

$459,583

$566,879

+ 23.3%

$481,668

$591,139

+ 22.7%

87.0%

90.1%

+ 3.6%

90.5%

89.6%

- 1.0%

Percent of Original List Price Received*

90.6%

90.6%

0.0%

91.3%

92.4%

+ 1.2%

Days on Market Until Sale

83

130

+ 56.6%

85

120

+ 41.2%

Days on Market Until Sale

54

64

+ 18.5%

69

65

- 5.8%

Inventory of Homes for Sale

226

205

- 9.3%

--

--

--

Inventory of Homes for Sale

76

76

0.0%

--

--

--

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

June

Year to Date

June

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

32

38

+ 18.8%

252

221

- 12.3%

New Listings

3

5

+ 66.7%

18

17

- 5.6%

Closed Sales

22

13

- 40.9%

88

82

- 6.8%

Closed Sales

2

2

0.0%

10

12

+ 20.0%

Median Sales Price*

$533,250

$683,500

+ 28.2%

$648,750

$603,500

- 7.0%

Median Sales Price*

$635,000

$437,500

- 31.1%

$285,675

$301,250

+ 5.5%

Average Sales Price*

$582,864

$848,423

+ 45.6%

$751,367

$915,191

+ 21.8%

Average Sales Price*

$635,000

$437,500

- 31.1%

$371,385

$393,792

+ 6.0%

91.3%

94.2%

+ 3.2%

92.1%

91.7%

- 0.4%

92.7%

95.2%

+ 2.7%

91.4%

95.6%

+ 4.6%

Days on Market Until Sale

85

62

- 27.1%

92

133

+ 44.6%

Days on Market Until Sale

21

56

+ 166.7%

91

61

- 33.0%

Inventory of Homes for Sale

209

194

- 7.2%

--

--

--

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 July 9, 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 July 9, 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 – June 2020

Local Market Update – June 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 June

Single-Family Detached

Year to Date

June

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

107

102

- 4.7%

700

570

- 18.6%

New Listings

140

111

- 20.7%

910

702

- 22.9%

Closed Sales

100

79

- 21.0%

425

390

- 8.2%

Closed Sales

131

102

- 22.1%

545

528

- 3.1%

Median Sales Price*

$595,279

$575,000

- 3.4%

$575,000

$580,000

+ 0.9%

Median Sales Price*

$510,000

$521,000

+ 2.2%

$510,265

$531,926

+ 4.2%

Average Sales Price*

$746,331

$737,652

- 1.2%

$712,435

$685,918

- 3.7%

Average Sales Price*

$559,566

$567,479

+ 1.4%

$566,191

$581,254

+ 2.7%

95.7%

95.3%

- 0.4%

94.4%

95.1%

+ 0.7%

Percent of Original List Price Received*

96.6%

98.1%

+ 1.6%

96.6%

97.2%

+ 0.6%

Days on Market Until Sale

44

58

+ 31.8%

61

62

+ 1.6%

Days on Market Until Sale

56

48

- 14.3%

68

63

- 7.4%

Inventory of Homes for Sale

330

208

- 37.0%

--

--

--

Inventory of Homes for Sale

459

218

- 52.5%

--

--

--

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

June

Year to Date

June

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

39

54

+ 38.5%

236

257

+ 8.9%

New Listings

37

36

- 2.7%

261

229

- 12.3%

Closed Sales

38

42

+ 10.5%

162

161

- 0.6%

Closed Sales

39

27

- 30.8%

169

136

- 19.5%

Median Sales Price*

$238,000

$239,500

+ 0.6%

$249,450

$245,000

- 1.8%

Median Sales Price*

$305,000

$327,000

+ 7.2%

$305,000

$310,500

+ 1.8%

Average Sales Price*

$317,712

$322,701

+ 1.6%

$361,113

$304,716

- 15.6%

Average Sales Price*

$288,967

$325,883

+ 12.8%

$292,741

$313,433

+ 7.1%

94.5%

96.2%

+ 1.8%

95.2%

96.0%

+ 0.8%

Percent of Original List Price Received*

96.3%

97.9%

+ 1.7%

96.5%

97.2%

+ 0.7%

Days on Market Until Sale

53

44

- 17.0%

57

54

- 5.3%

Days on Market Until Sale

83

43

- 48.2%

58

68

+ 17.2%

Inventory of Homes for Sale

102

92

- 9.8%

--

--

--

Inventory of Homes for Sale

120

82

- 31.7%

--

--

--

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 July 9, 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 July 9, 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 – June 2020

Local Market Update – June 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 June

Single-Family Detached

Year to Date

June

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

32

18

- 43.8%

196

143

- 27.0%

New Listings

7

7

0.0%

41

32

- 22.0%

Closed Sales

19

23

+ 21.1%

97

79

- 18.6%

Closed Sales

5

4

- 20.0%

22

21

- 4.5%

Median Sales Price*

$975,000

$934,500

- 4.2%

$1,062,500

$1,000,000

- 5.9%

Median Sales Price*

$1,575,000

$2,100,000

+ 33.3%

$2,050,000

$2,600,000

+ 26.8%

Average Sales Price*

$1,200,272

$1,279,387

+ 6.6%

$1,402,510

$1,253,461

- 10.6%

Average Sales Price*

$1,750,000

$2,985,000

+ 70.6%

$2,125,631

$2,436,548

+ 14.6%

93.4%

92.1%

- 1.4%

92.3%

91.2%

- 1.2%

Percent of Original List Price Received*

84.9%

99.2%

+ 16.8%

87.5%

91.5%

+ 4.6%

Days on Market Until Sale

81

101

+ 24.7%

95

120

+ 26.3%

Days on Market Until Sale

151

27

- 82.1%

98

81

- 17.3%

Inventory of Homes for Sale

165

90

- 45.5%

--

--

--

Inventory of Homes for Sale

34

17

- 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.

* 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

June

Year to Date

June

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

10

13

+ 30.0%

82

77

- 6.1%

New Listings

0

0

--

1

2

+ 100.0%

Closed Sales

5

15

+ 200.0%

39

50

+ 28.2%

Closed Sales

0

1

--

1

3

+ 200.0%

Median Sales Price*

$364,000

$520,000

+ 42.9%

$489,000

$598,500

+ 22.4%

Median Sales Price*

$0

$542,230

--

$1,770,000

$1,600,000

- 9.6%

Average Sales Price*

$447,800

$632,400

+ 41.2%

$525,571

$658,359

+ 25.3%

Average Sales Price*

$0

$542,230

--

$1,770,000

$1,264,077

- 28.6%

95.9%

95.9%

0.0%

95.3%

93.8%

- 1.6%

0.0%

90.5%

--

94.4%

89.5%

- 5.2%

Days on Market Until Sale

34

79

+ 132.4%

76

100

+ 31.6%

Days on Market Until Sale

0

6

--

195

353

+ 81.0%

Inventory of Homes for Sale

81

62

- 23.5%

--

--

--

Inventory of Homes for Sale

2

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 —

$1,200,000

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 July 9, 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 July 9, 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 – June 2020

Local Market Update – June 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 June

Single-Family Detached

Year to Date

June

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

80

- 1.2%

572

460

- 19.6%

New Listings

161

177

+ 9.9%

996

1,023

+ 2.7%

Closed Sales

97

66

- 32.0%

380

346

- 8.9%

Closed Sales

122

180

+ 47.5%

656

756

+ 15.2%

Median Sales Price*

$357,500

$387,000

+ 8.3%

$360,663

$375,000

+ 4.0%

Median Sales Price*

$332,351

$319,000

- 4.0%

$317,000

$315,000

- 0.6%

Average Sales Price*

$390,554

$435,998

+ 11.6%

$452,479

$437,871

- 3.2%

Average Sales Price*

$353,275

$358,549

+ 1.5%

$346,515

$348,968

+ 0.7%

96.0%

97.0%

+ 1.0%

95.4%

95.9%

+ 0.5%

Percent of Original List Price Received*

95.2%

97.0%

+ 1.9%

95.5%

96.4%

+ 0.9%

Days on Market Until Sale

34

45

+ 32.4%

51

48

- 5.9%

Days on Market Until Sale

45

39

- 13.3%

49

45

- 8.2%

Inventory of Homes for Sale

214

94

- 56.1%

--

--

--

Inventory of Homes for Sale

382

195

- 49.0%

--

--

--

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

June

Year to Date

June

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

17

29

+ 70.6%

169

147

- 13.0%

New Listings

54

38

- 29.6%

333

272

- 18.3%

Closed Sales

29

17

- 41.4%

125

94

- 24.8%

Closed Sales

40

42

+ 5.0%

234

226

- 3.4%

Median Sales Price*

$210,000

$196,500

- 6.4%

$210,000

$207,250

- 1.3%

Median Sales Price*

$206,250

$191,525

- 7.1%

$209,500

$222,500

+ 6.2%

Average Sales Price*

$217,087

$196,906

- 9.3%

$218,115

$200,744

- 8.0%

Average Sales Price*

$209,239

$202,599

- 3.2%

$208,770

$217,757

+ 4.3%

97.3%

95.8%

- 1.5%

97.0%

96.0%

- 1.0%

Percent of Original List Price Received*

97.4%

96.7%

- 0.7%

97.2%

96.6%

- 0.6%

Days on Market Until Sale

43

28

- 34.9%

45

42

- 6.7%

Days on Market Until Sale

41

53

+ 29.3%

44

56

+ 27.3%

Inventory of Homes for Sale

51

36

- 29.4%

--

--

--

Inventory of Homes for Sale

115

45

- 60.9%

--

--

--

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.

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 July 9, 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 July 9, 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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