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MARCH 2019

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 – March 2019

Local Market Update – March 2019

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 March

Single-Family Detached

Year to Date

March

Single-Family Detached

Year to Date

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

40

51

+ 27.5%

109

139

+ 27.5%

New Listings

34

26

- 23.5%

74

67

- 9.5%

Closed Sales

29

19

- 34.5%

56

37

- 33.9%

Closed Sales

17

23

+ 35.3%

46

53

+ 15.2%

Median Sales Price*

$775,000

$1,750,000

+ 125.8%

$852,500

$1,300,000

+ 52.5%

Median Sales Price*

$423,500

$502,500

+ 18.7%

$448,250

$450,000

+ 0.4%

Average Sales Price*

$901,663

$2,599,737

+ 188.3%

$1,140,369

$1,933,851

+ 69.6%

Average Sales Price*

$412,588

$560,239

+ 35.8%

$448,870

$477,538

+ 6.4%

89.3%

91.6%

+ 2.6%

92.1%

91.9%

- 0.2%

Percent of Original List Price Received*

92.4%

91.8%

- 0.6%

92.9%

90.4%

- 2.7%

Days on Market Until Sale

130

118

- 9.2%

106

97

- 8.5%

Days on Market Until Sale

71

77

+ 8.5%

55

88

+ 60.0%

Inventory of Homes for Sale

133

210

+ 57.9%

--

--

--

Inventory of Homes for Sale

63

56

- 11.1%

--

--

--

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

March

Year to Date

March

Year to Date

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

74

59

- 20.3%

146

125

- 14.4%

New Listings

8

2

- 75.0%

20

8

- 60.0%

Closed Sales

16

18

+ 12.5%

46

39

- 15.2%

Closed Sales

4

2

- 50.0%

9

3

- 66.7%

Median Sales Price*

$474,815

$576,500

+ 21.4%

$622,500

$800,000

+ 28.5%

Median Sales Price*

$362,500

$314,000

- 13.4%

$497,999

$264,500

- 46.9%

Average Sales Price*

$679,821

$695,167

+ 2.3%

$755,788

$915,218

+ 21.1%

Average Sales Price*

$373,750

$314,000

- 16.0%

$533,394

$297,500

- 44.2%

93.1%

93.1%

0.0%

93.4%

92.4%

- 1.1%

96.8%

90.4%

- 6.6%

100.5%

90.2%

- 10.2%

Days on Market Until Sale

93

68

- 26.9%

90

90

0.0%

Days on Market Until Sale

73

97

+ 32.9%

56

109

+ 94.6%

Inventory of Homes for Sale

158

183

+ 15.8%

--

--

--

Inventory of Homes for Sale

19

9

- 52.6%

--

--

--

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 $1,200,000

* 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 —

Percent of Original List Price Received*

$700,000

$1,000,000

$600,000

$800,000

$500,000

Single-Family Detached All MLS — Downtown Charleston —

$600,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —

All MLS — Upper Charleston Peninsula —

$500,000

$500,000 $400,000 $400,000

$600,000

$400,000

$300,000 $300,000

$400,000

$300,000

$200,000

$200,000

$0 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$100,000 1-2009

$200,000

$200,000

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of April 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$100,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of April 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – March 2019

Local Market Update – March 2019

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 March

Single-Family Detached

Year to Date

March

Single-Family Detached

Year to Date

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

152

138

- 9.2%

327

337

+ 3.1%

New Listings

156

149

- 4.5%

400

440

+ 10.0%

Closed Sales

69

73

+ 5.8%

177

157

- 11.3%

Closed Sales

85

78

- 8.2%

196

192

- 2.0%

Median Sales Price*

$525,000

$540,000

+ 2.9%

$535,000

$590,000

+ 10.3%

Median Sales Price*

$475,000

$506,839

+ 6.7%

$500,000

$499,950

- 0.0%

Average Sales Price*

$647,689

$748,895

+ 15.6%

$623,887

$733,671

+ 17.6%

Average Sales Price*

$543,157

$540,648

- 0.5%

$567,132

$546,983

- 3.6%

95.4%

94.3%

- 1.2%

94.6%

93.4%

- 1.3%

Percent of Original List Price Received*

95.9%

96.6%

+ 0.7%

96.1%

96.3%

+ 0.2%

Days on Market Until Sale

64

59

- 7.8%

64

70

+ 9.4%

Days on Market Until Sale

73

76

+ 4.1%

83

72

- 13.3%

Inventory of Homes for Sale

262

262

0.0%

--

--

--

Inventory of Homes for Sale

440

450

+ 2.3%

--

--

--

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

March

Year to Date

March

Year to Date

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

41

42

+ 2.4%

125

114

- 8.8%

New Listings

48

60

+ 25.0%

120

142

+ 18.3%

Closed Sales

40

28

- 30.0%

78

68

- 12.8%

Closed Sales

47

25

- 46.8%

80

71

- 11.3%

Median Sales Price*

$271,000

$268,500

- 0.9%

$243,500

$266,000

+ 9.2%

Median Sales Price*

$319,360

$322,000

+ 0.8%

$321,905

$311,670

- 3.2%

Average Sales Price*

$359,589

$379,221

+ 5.5%

$339,417

$392,188

+ 15.5%

Average Sales Price*

$304,983

$296,477

- 2.8%

$306,977

$298,086

- 2.9%

97.8%

94.8%

- 3.1%

97.0%

95.3%

- 1.8%

Percent of Original List Price Received*

98.0%

97.9%

- 0.1%

98.0%

96.1%

- 1.9%

Days on Market Until Sale

50

62

+ 24.0%

54

58

+ 7.4%

Days on Market Until Sale

57

49

- 14.0%

62

55

- 11.3%

Inventory of Homes for Sale

86

96

+ 11.6%

--

--

--

Inventory of Homes for Sale

84

111

+ 32.1%

--

--

--

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 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$120,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of April 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$100,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of April 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – March 2019

Local Market Update – March 2019

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 March

Single-Family Detached

Year to Date

March

Single-Family Detached

Year to Date

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

37

31

- 16.2%

78

96

+ 23.1%

New Listings

14

3

- 78.6%

29

15

- 48.3%

Closed Sales

26

21

- 19.2%

53

38

- 28.3%

Closed Sales

6

2

- 66.7%

12

10

- 16.7%

Median Sales Price*

$1,078,000

$1,182,500

+ 9.7%

$1,064,000

$1,081,250

+ 1.6%

Median Sales Price*

$1,582,500

$2,030,000

+ 28.3%

$2,358,825

$1,988,438

- 15.7%

Average Sales Price*

$1,325,654

$1,370,278

+ 3.4%

$1,341,868

$1,299,298

- 3.2%

Average Sales Price*

$1,658,792

$2,030,000

+ 22.4%

$2,226,479

$2,109,388

- 5.3%

92.8%

91.4%

- 1.5%

91.1%

92.2%

+ 1.2%

Percent of Original List Price Received*

94.9%

77.2%

- 18.7%

96.3%

85.8%

- 10.9%

Days on Market Until Sale

100

106

+ 6.0%

130

99

- 23.8%

Days on Market Until Sale

168

105

- 37.5%

128

71

- 44.5%

Inventory of Homes for Sale

121

140

+ 15.7%

--

--

--

Inventory of Homes for Sale

31

24

- 22.6%

--

--

--

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

March

Year to Date

March

Year to Date

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

15

17

+ 13.3%

43

44

+ 2.3%

New Listings

1

0

- 100.0%

2

1

- 50.0%

Closed Sales

13

5

- 61.5%

27

11

- 59.3%

Closed Sales

1

0

- 100.0%

1

1

0.0%

Median Sales Price*

$396,750

$395,000

- 0.4%

$485,000

$422,000

- 13.0%

Median Sales Price*

$685,000

$0

- 100.0%

$685,000

$1,770,000

+ 158.4%

Average Sales Price*

$562,019

$439,050

- 21.9%

$530,500

$516,614

- 2.6%

Average Sales Price*

$685,000

$0

- 100.0%

$685,000

$1,770,000

+ 158.4%

94.9%

95.6%

+ 0.7%

93.9%

93.4%

- 0.5%

Percent of Original List Price Received*

98.0%

0.0%

- 100.0%

98.0%

94.4%

- 3.7%

Days on Market Until Sale

51

54

+ 5.9%

108

84

- 22.2%

Days on Market Until Sale

14

0

- 100.0%

14

195

+ 1,292.9%

Inventory of Homes for Sale

60

80

+ 33.3%

--

--

--

Inventory of Homes for Sale

0

3

--

--

--

--

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

$1,000,000

Single-Family Detached All MLS — Isle of Palms —

$1,000,000

$800,000

$2,500,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Sullivan's Island —

All MLS — Sullivan's Island —

$4,000,000

$2,000,000 $3,000,000

$800,000 $600,000

$1,500,000

$400,000

$1,000,000

$200,000

$500,000

$600,000

$2,000,000

$400,000

$200,000

$0 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$0 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of April 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$0 1-2009

$1,000,000

1-2011

1-2013

1-2015

1-2017

1-2019

$0 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of April 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – March 2019

Local Market Update – March 2019

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 March

Single-Family Detached

Year to Date

March

Single-Family Detached

Year to Date

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

108

96

- 11.1%

279

264

- 5.4%

New Listings

176

189

+ 7.4%

461

474

+ 2.8%

Closed Sales

83

68

- 18.1%

188

140

- 25.5%

Closed Sales

128

115

- 10.2%

295

277

- 6.1%

Median Sales Price*

$383,000

$370,500

- 3.3%

$370,310

$365,500

- 1.3%

Median Sales Price*

$320,000

$290,000

- 9.4%

$309,440

$305,000

- 1.4%

Average Sales Price*

$402,802

$441,928

+ 9.7%

$397,304

$480,753

+ 21.0%

Average Sales Price*

$338,290

$337,619

- 0.2%

$337,824

$345,007

+ 2.1%

97.6%

95.9%

- 1.7%

97.5%

95.3%

- 2.3%

97.7%

94.9%

- 2.9%

96.9%

95.2%

- 1.8%

Days on Market Until Sale

44

58

+ 31.8%

41

62

+ 51.2%

Days on Market Until Sale

40

58

+ 45.0%

44

54

+ 22.7%

Inventory of Homes for Sale

194

186

- 4.1%

--

--

--

Inventory of Homes for Sale

322

330

+ 2.5%

--

--

--

Percent of Original List Price Received*

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

March

Year to Date

March

Year to Date

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

25

36

+ 44.0%

56

83

+ 48.2%

New Listings

51

65

+ 27.5%

128

160

+ 25.0%

Closed Sales

24

20

- 16.7%

44

45

+ 2.3%

Closed Sales

47

40

- 14.9%

96

99

+ 3.1%

Median Sales Price*

$182,850

$169,500

- 7.3%

$178,850

$181,000

+ 1.2%

Median Sales Price*

$185,000

$230,000

+ 24.3%

$181,000

$233,000

+ 28.7%

Average Sales Price*

$185,525

$190,202

+ 2.5%

$184,570

$203,004

+ 10.0%

Average Sales Price*

$179,695

$217,388

+ 21.0%

$178,893

$216,532

+ 21.0%

95.2%

96.7%

+ 1.6%

95.2%

96.0%

+ 0.8%

Percent of Original List Price Received*

98.2%

97.0%

- 1.2%

97.5%

96.7%

- 0.8%

Days on Market Until Sale

61

26

- 57.4%

56

50

- 10.7%

Days on Market Until Sale

48

49

+ 2.1%

41

47

+ 14.6%

Inventory of Homes for Sale

43

60

+ 39.5%

--

--

--

Inventory of Homes for Sale

76

96

+ 26.3%

--

--

--

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

Single-Family Detached All MLS — James Island —

$220,000

Townhouse-Condo Attached All MLS — West Ashley Area —

All MLS — West Ashley Area —

$220,000

$300,000

$200,000

$350,000

$320,000

Rolling 12-Month Calculation

$200,000 $280,000

$180,000 $300,000

$180,000

$260,000 $160,000 $240,000

$250,000 $140,000 $200,000

$150,000 1-2009

$120,000

1-2011

1-2013

1-2015

1-2017

1-2019

$100,000 1-2009

$160,000

$220,000 $140,000

$200,000

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of April 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$180,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

$120,000 1-2009

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of April 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


132 East Bay Street, Charleston, SC 29401 69 Morris Street, Charleston, SC 29403 309 Coleman Boulevard, Mount Pleasant, SC 29464

843.628.0008 | TheCassinaGroup.com

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March 2019 Real Estate Report | Presented by The Cassina Group  

March 2019 Real Estate Report | Presented by The Cassina Group  

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