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MARCH 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 – March 2020

Local Market Update – March 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 March

Single-Family Detached

Year to Date

March

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

50

34

- 32.0%

138

107

- 22.5%

New Listings

26

30

+ 15.4%

67

76

+ 13.4%

Closed Sales

19

22

+ 15.8%

37

49

+ 32.4%

Closed Sales

23

16

- 30.4%

53

43

- 18.9%

Median Sales Price*

$1,750,000

$1,130,000

- 35.4%

$1,300,000

$765,000

- 41.2%

Median Sales Price*

$502,500

$605,000

+ 20.4%

$450,000

$510,000

+ 13.3%

Average Sales Price*

$2,599,868

$1,166,227

- 55.1%

$1,933,919

$997,659

- 48.4%

Average Sales Price*

$560,239

$717,875

+ 28.1%

$477,538

$616,731

+ 29.1%

91.7%

88.4%

- 3.6%

91.9%

88.5%

- 3.7%

Percent of Original List Price Received*

91.8%

92.3%

+ 0.5%

90.4%

91.8%

+ 1.5%

Days on Market Until Sale

118

132

+ 11.9%

97

128

+ 32.0%

Days on Market Until Sale

77

84

+ 9.1%

88

79

- 10.2%

Inventory of Homes for Sale

227

165

- 27.3%

--

--

--

Inventory of Homes for Sale

65

74

+ 13.8%

--

--

--

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

59

44

- 25.4%

125

115

- 8.0%

New Listings

2

1

- 50.0%

8

9

+ 12.5%

Closed Sales

19

15

- 21.1%

40

45

+ 12.5%

Closed Sales

2

2

0.0%

3

5

+ 66.7%

Median Sales Price*

$575,000

$610,000

+ 6.1%

$799,500

$600,000

- 25.0%

Median Sales Price*

$314,000

$629,750

+ 100.6%

$264,500

$265,000

+ 0.2%

Average Sales Price*

$676,579

$1,426,953

+ 110.9%

$900,888

$1,054,118

+ 17.0%

Average Sales Price*

$314,000

$629,750

+ 100.6%

$297,500

$402,100

+ 35.2%

92.5%

95.6%

+ 3.4%

92.1%

90.8%

- 1.4%

90.4%

96.2%

+ 6.4%

90.2%

97.6%

+ 8.2%

Days on Market Until Sale

75

107

+ 42.7%

93

142

+ 52.7%

Days on Market Until Sale

97

69

- 28.9%

109

66

- 39.4%

Inventory of Homes for Sale

193

178

- 7.8%

--

--

--

Inventory of Homes for Sale

10

12

+ 20.0%

--

--

--

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 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 April 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 April 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 – March 2020

Local Market Update – March 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 March

Single-Family Detached

Year to Date

March

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

139

104

- 25.2%

337

269

- 20.2%

New Listings

149

140

- 6.0%

441

369

- 16.3%

Closed Sales

73

70

- 4.1%

157

174

+ 10.8%

Closed Sales

79

100

+ 26.6%

192

246

+ 28.1%

Median Sales Price*

$540,000

$592,500

+ 9.7%

$590,000

$586,495

- 0.6%

Median Sales Price*

$509,640

$545,000

+ 6.9%

$499,950

$536,500

+ 7.3%

Average Sales Price*

$748,895

$661,991

- 11.6%

$733,671

$679,582

- 7.4%

Average Sales Price*

$540,643

$592,184

+ 9.5%

$546,317

$589,060

+ 7.8%

94.3%

95.4%

+ 1.2%

93.4%

94.2%

+ 0.9%

Percent of Original List Price Received*

96.7%

97.3%

+ 0.6%

96.3%

96.7%

+ 0.4%

Days on Market Until Sale

59

75

+ 27.1%

70

78

+ 11.4%

Days on Market Until Sale

75

69

- 8.0%

72

76

+ 5.6%

Inventory of Homes for Sale

285

225

- 21.1%

--

--

--

Inventory of Homes for Sale

483

295

- 38.9%

--

--

--

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.

* 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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

42

49

+ 16.7%

114

140

+ 22.8%

New Listings

60

37

- 38.3%

142

115

- 19.0%

Closed Sales

28

37

+ 32.1%

68

73

+ 7.4%

Closed Sales

25

32

+ 28.0%

71

64

- 9.9%

Median Sales Price*

$268,500

$250,000

- 6.9%

$266,000

$245,000

- 7.9%

Median Sales Price*

$322,000

$260,000

- 19.3%

$311,670

$286,000

- 8.2%

Average Sales Price*

$379,221

$311,186

- 17.9%

$392,188

$278,664

- 28.9%

Average Sales Price*

$296,477

$283,762

- 4.3%

$298,086

$298,458

+ 0.1%

94.8%

95.5%

+ 0.7%

95.3%

96.1%

+ 0.8%

Percent of Original List Price Received*

97.9%

97.4%

- 0.5%

96.1%

97.2%

+ 1.1%

Days on Market Until Sale

62

66

+ 6.5%

58

62

+ 6.9%

Days on Market Until Sale

49

67

+ 36.7%

55

67

+ 21.8%

Inventory of Homes for Sale

108

95

- 12.0%

--

--

--

Inventory of Homes for Sale

128

94

- 26.6%

--

--

--

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 $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 April 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 April 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 – March 2020

Local Market Update – March 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 March

Single-Family Detached

Year to Date

March

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

24

- 25.0%

98

81

- 17.3%

New Listings

3

4

+ 33.3%

15

18

+ 20.0%

Closed Sales

22

13

- 40.9%

39

36

- 7.7%

Closed Sales

2

3

+ 50.0%

10

11

+ 10.0%

Median Sales Price*

$1,166,250

$1,050,000

- 10.0%

$1,062,500

$1,067,500

+ 0.5%

Median Sales Price*

$2,030,000

$3,050,000

+ 50.2%

$1,988,438

$2,195,000

+ 10.4%

Average Sales Price*

$1,312,447

$1,152,846

- 12.2%

$1,268,496

$1,268,000

- 0.0%

Average Sales Price*

$2,030,000

$2,545,500

+ 25.4%

$2,109,388

$2,257,045

+ 7.0%

91.8%

91.2%

- 0.7%

92.4%

90.4%

- 2.2%

Percent of Original List Price Received*

77.2%

91.1%

+ 18.0%

85.8%

92.5%

+ 7.8%

Days on Market Until Sale

101

114

+ 12.9%

97

110

+ 13.4%

Days on Market Until Sale

105

66

- 37.1%

71

67

- 5.6%

Inventory of Homes for Sale

152

121

- 20.4%

--

--

--

Inventory of Homes for Sale

28

18

- 35.7%

--

--

--

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

March

Year to Date

March

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

20

+ 17.6%

44

46

+ 4.5%

New Listings

0

1

--

1

1

0.0%

Closed Sales

6

5

- 16.7%

12

19

+ 58.3%

Closed Sales

0

1

--

1

2

+ 100.0%

Median Sales Price*

$442,000

$691,100

+ 56.4%

$455,500

$667,000

+ 46.4%

Median Sales Price*

$0

$1,650,000

--

$1,770,000

$1,625,000

- 8.2%

Average Sales Price*

$508,792

$711,620

+ 39.9%

$545,021

$680,128

+ 24.8%

Average Sales Price*

$0

$1,650,000

--

$1,770,000

$1,625,000

- 8.2%

95.8%

90.7%

- 5.3%

93.7%

92.6%

- 1.2%

0.0%

90.4%

--

94.4%

89.0%

- 5.7%

Days on Market Until Sale

55

168

+ 205.5%

82

119

+ 45.1%

Days on Market Until Sale

0

537

--

195

527

+ 170.3%

Inventory of Homes for Sale

81

81

0.0%

--

--

--

Inventory of Homes for Sale

3

2

- 33.3%

--

--

--

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

Percent of Original List Price Received*

Single-Family Detached All MLS — Isle of Palms —

$700,000

$1,000,000

$600,000

$800,000

$500,000

$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 $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 April 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 April 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 – March 2020

Local Market Update – March 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 March

Single-Family Detached

Year to Date

March

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

76

- 20.8%

264

241

- 8.7%

New Listings

191

180

- 5.8%

479

507

+ 5.8%

Closed Sales

69

75

+ 8.7%

141

176

+ 24.8%

Closed Sales

116

122

+ 5.2%

278

318

+ 14.4%

Median Sales Price*

$375,000

$385,000

+ 2.7%

$366,000

$375,500

+ 2.6%

Median Sales Price*

$289,500

$327,000

+ 13.0%

$305,000

$319,500

+ 4.8%

Average Sales Price*

$441,047

$481,287

+ 9.1%

$480,046

$450,733

- 6.1%

Average Sales Price*

$336,690

$377,315

+ 12.1%

$344,593

$348,699

+ 1.2%

95.9%

96.3%

+ 0.4%

95.3%

95.6%

+ 0.3%

Percent of Original List Price Received*

95.0%

96.3%

+ 1.4%

95.2%

95.8%

+ 0.6%

Days on Market Until Sale

57

47

- 17.5%

62

52

- 16.1%

Days on Market Until Sale

57

55

- 3.5%

54

54

0.0%

Inventory of Homes for Sale

202

140

- 30.7%

--

--

--

Inventory of Homes for Sale

382

274

- 28.3%

--

--

--

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

37

30

- 18.9%

84

77

- 8.3%

New Listings

64

56

- 12.5%

159

149

- 6.3%

Closed Sales

21

14

- 33.3%

46

39

- 15.2%

Closed Sales

40

46

+ 15.0%

99

118

+ 19.2%

Median Sales Price*

$158,000

$220,000

+ 39.2%

$180,500

$217,000

+ 20.2%

Median Sales Price*

$230,000

$217,648

- 5.4%

$233,000

$222,500

- 4.5%

Average Sales Price*

$186,454

$225,857

+ 21.1%

$201,015

$210,662

+ 4.8%

Average Sales Price*

$217,388

$210,974

- 3.0%

$216,532

$215,487

- 0.5%

96.4%

94.6%

- 1.9%

95.9%

94.8%

- 1.1%

Percent of Original List Price Received*

97.0%

96.7%

- 0.3%

96.7%

96.3%

- 0.4%

Days on Market Until Sale

25

48

+ 92.0%

49

45

- 8.2%

Days on Market Until Sale

49

66

+ 34.7%

47

65

+ 38.3%

Inventory of Homes for Sale

67

45

- 32.8%

--

--

--

Inventory of Homes for Sale

108

77

- 28.7%

--

--

--

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

* 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 —

$240,000 $220,000

Townhouse-Condo Attached All MLS — West Ashley Area —

$300,000

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

$325,000

Rolling 12-Month Calculation All MLS — West Ashley Area —

$220,000

$200,000

$275,000 $180,000

$180,000 $250,000 $160,000

$250,000

$160,000 $225,000

$140,000 $200,000

$150,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

$140,000

$200,000

$120,000

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of April 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 April 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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