March 2022 Real Estate Report | The Cassina Group

Page 1

MARCH 2022

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 2022

Local Market Update – March 2022

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

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

44

42

- 4.5%

114

82

- 28.1%

New Listings

24

22

- 8.3%

71

77

+ 8.5%

Closed Sales

39

32

- 17.9%

101

76

- 24.8%

Closed Sales

35

21

- 40.0%

66

57

- 13.6%

Median Sales Price*

$715,000

$1,175,000

+ 64.3%

$869,000

$1,062,500

+ 22.3%

Median Sales Price*

$589,000

$640,000

+ 8.7%

$583,500

$625,000

+ 7.1%

Average Sales Price*

$1,116,905

$1,797,188

+ 60.9%

$1,314,108

$1,565,599

+ 19.1%

Average Sales Price*

$598,995

$765,261

+ 27.8%

$601,503

$698,272

+ 16.1%

93.1%

95.4%

+ 2.5%

92.9%

95.8%

+ 3.1%

Percent of Original List Price Received*

94.1%

101.0%

+ 7.3%

94.5%

98.3%

+ 4.0%

Days on Market Until Sale

111

62

- 44.1%

122

60

- 50.8%

Days on Market Until Sale

94

42

- 55.3%

74

54

- 27.0%

Inventory of Homes for Sale

117

38

- 67.5%

--

--

--

Inventory of Homes for Sale

53

19

- 64.2%

--

--

--

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

March

Year to Date

March

Year to Date

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

41

34

- 17.1%

118

96

- 18.6%

New Listings

5

4

- 20.0%

10

6

- 40.0%

Closed Sales

38

38

0.0%

67

77

+ 14.9%

Closed Sales

2

0

- 100.0%

4

7

+ 75.0%

Median Sales Price*

$615,000

$649,500

+ 5.6%

$630,000

$650,000

+ 3.2%

Median Sales Price*

$440,000

$0

- 100.0%

$440,000

$475,000

+ 8.0%

Average Sales Price*

$771,158

$920,366

+ 19.3%

$776,311

$902,083

+ 16.2%

Average Sales Price*

$440,000

$0

- 100.0%

$423,750

$609,286

+ 43.8%

94.3%

96.5%

+ 2.3%

92.7%

96.5%

+ 4.1%

Percent of Original List Price Received*

101.5%

0.0%

- 100.0%

100.2%

95.6%

- 4.6%

Days on Market Until Sale

84

79

- 6.0%

122

78

- 36.1%

Days on Market Until Sale

4

0

- 100.0%

29

170

+ 486.2%

Inventory of Homes for Sale

138

33

- 76.1%

--

--

--

Inventory of Homes for Sale

7

5

- 28.6%

--

--

--

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 $1,400,000

* 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

Single-Family Detached All MLS — Downtown Charleston —

$700,000

$700,000

$600,000

$600,000

$500,000

$500,000

$400,000

$400,000

$300,000

$300,000

$200,000

$200,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —

All MLS — Upper Charleston Peninsula —

$500,000

$400,000

$1,000,000 $800,000

$300,000

$600,000 $400,000

$200,000

$200,000 $0 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of April 8, 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.

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of April 8, 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.


Local Market Update – March 2022

Local Market Update – March 2022

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

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

102

81

- 20.6%

258

213

- 17.4%

New Listings

135

115

- 14.8%

376

256

- 31.9%

Closed Sales

87

74

- 14.9%

231

159

- 31.2%

Closed Sales

134

86

- 35.8%

305

192

- 37.0%

Median Sales Price*

$630,000

$900,000

+ 42.9%

$645,000

$815,000

+ 26.4%

Median Sales Price*

$593,750

$790,000

+ 33.1%

$587,500

$761,153

+ 29.6%

Average Sales Price*

$752,784

$1,153,606

+ 53.2%

$779,424

$1,157,152

+ 48.5%

Average Sales Price*

$670,676

$867,047

+ 29.3%

$667,941

$850,322

+ 27.3%

98.6%

101.2%

+ 2.6%

97.3%

99.9%

+ 2.7%

Percent of Original List Price Received*

100.3%

102.5%

+ 2.2%

99.4%

101.5%

+ 2.1%

Days on Market Until Sale

18

9

- 50.0%

33

13

- 60.6%

Days on Market Until Sale

20

15

- 25.0%

26

18

- 30.8%

Inventory of Homes for Sale

63

42

- 33.3%

--

--

--

Inventory of Homes for Sale

73

52

- 28.8%

--

--

--

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

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

58

33

- 43.1%

158

105

- 33.5%

New Listings

29

35

+ 20.7%

94

89

- 5.3%

Closed Sales

61

34

- 44.3%

124

93

- 25.0%

Closed Sales

36

25

- 30.6%

84

75

- 10.7%

Median Sales Price*

$285,000

$348,500

+ 22.3%

$287,000

$365,000

+ 27.2%

Median Sales Price*

$327,500

$385,000

+ 17.6%

$324,450

$340,000

+ 4.8%

Average Sales Price*

$416,335

$505,747

+ 21.5%

$409,820

$483,695

+ 18.0%

Average Sales Price*

$319,392

$423,920

+ 32.7%

$313,589

$374,144

+ 19.3%

98.9%

101.5%

+ 2.6%

98.0%

101.6%

+ 3.7%

Percent of Original List Price Received*

99.6%

103.4%

+ 3.8%

98.9%

103.1%

+ 4.2%

Days on Market Until Sale

22

4

- 81.8%

39

8

- 79.5%

Days on Market Until Sale

14

5

- 64.3%

25

16

- 36.0%

Inventory of Homes for Sale

21

7

- 66.7%

--

--

--

Inventory of Homes for Sale

19

11

- 42.1%

--

--

--

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 $1,000,000

* 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 —

$350,000

$800,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Mount Pleasant —

$700,000 $800,000

$600,000 $250,000

$400,000

$350,000

$300,000

$600,000

All MLS — Upper Mount Pleasant —

$300,000

$500,000 $250,000

$400,000

$400,000

$200,000

$200,000

$300,000 $200,000

$0 1-2012

$150,000

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

$150,000

$200,000

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of April 8, 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.

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of April 8, 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.


Local Market Update – March 2022

Local Market Update – March 2022

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

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

40

26

- 35.0%

86

64

- 25.6%

New Listings

4

6

+ 50.0%

14

17

+ 21.4%

Closed Sales

28

15

- 46.4%

65

46

- 29.2%

Closed Sales

2

7

+ 250.0%

11

11

0.0%

Median Sales Price*

$1,745,000

$2,595,000

+ 48.7%

$1,550,000

$1,712,500

+ 10.5%

Median Sales Price*

$3,002,500

$5,495,000

+ 83.0%

$3,188,775

$4,177,125

+ 31.0%

Average Sales Price*

$1,613,250

$2,636,067

+ 63.4%

$1,677,946

$2,024,642

+ 20.7%

Average Sales Price*

$3,002,500

$5,316,732

+ 77.1%

$3,323,889

$4,364,102

+ 31.3%

96.6%

97.2%

+ 0.6%

95.6%

97.8%

+ 2.3%

Percent of Original List Price Received*

100.1%

98.4%

- 1.7%

96.8%

94.5%

- 2.4%

Days on Market Until Sale

38

34

- 10.5%

43

23

- 46.5%

Days on Market Until Sale

336

26

- 92.3%

128

32

- 75.0%

Inventory of Homes for Sale

31

26

- 16.1%

--

--

--

Inventory of Homes for Sale

11

6

- 45.5%

--

--

--

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

March

Year to Date

March

Year to Date

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

13

20

+ 53.8%

33

33

0.0%

New Listings

0

0

--

3

0

- 100.0%

Closed Sales

11

10

- 9.1%

37

22

- 40.5%

Closed Sales

0

0

--

0

2

--

Median Sales Price*

$725,000

$925,500

+ 27.7%

$725,000

$803,000

+ 10.8%

Median Sales Price*

$0

$0

--

$0

$1,812,500

--

Average Sales Price*

$751,818

$936,490

+ 24.6%

$746,034

$922,995

+ 23.7%

Average Sales Price*

$0

$0

--

$0

$1,812,500

--

99.6%

98.0%

- 1.6%

95.9%

96.7%

+ 0.8%

Percent of Original List Price Received*

0.0%

0.0%

--

0.0%

86.9%

--

Days on Market Until Sale

63

89

+ 41.3%

115

61

- 47.0%

Days on Market Until Sale

0

0

--

0

67

--

Inventory of Homes for Sale

20

12

- 40.0%

--

--

--

Inventory of Homes for Sale

1

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 —

$2,000,000

Single-Family Detached All MLS — Isle of Palms —

$800,000

$4,000,000

Rolling 12-Month Calculation

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

All MLS — Sullivan's Island —

$4,000,000

$700,000 $1,500,000

$600,000

$3,000,000

$3,000,000

$2,000,000

$2,000,000

$1,000,000

$1,000,000

$500,000 $1,000,000 $400,000 $300,000

$500,000

$200,000 $0 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of April 8, 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.

$0 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$0 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of April 8, 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.


Local Market Update – March 2022

Local Market Update – March 2022

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

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

64

88

+ 37.5%

170

184

+ 8.2%

New Listings

129

128

- 0.8%

335

384

+ 14.6%

Closed Sales

64

62

- 3.1%

155

147

- 5.2%

Closed Sales

121

132

+ 9.1%

301

337

+ 12.0%

Median Sales Price*

$445,000

$505,250

+ 13.5%

$419,500

$520,000

+ 24.0%

Median Sales Price*

$362,826

$450,000

+ 24.0%

$350,000

$410,000

+ 17.1%

Average Sales Price*

$528,751

$557,583

+ 5.5%

$496,696

$560,059

+ 12.8%

Average Sales Price*

$399,865

$499,996

+ 25.0%

$389,777

$460,079

+ 18.0%

99.9%

101.9%

+ 2.0%

98.3%

101.0%

+ 2.7%

Percent of Original List Price Received*

99.1%

101.8%

+ 2.7%

97.7%

100.0%

+ 2.4%

Days on Market Until Sale

22

11

- 50.0%

27

19

- 29.6%

Days on Market Until Sale

24

11

- 54.2%

29

17

- 41.4%

Inventory of Homes for Sale

35

29

- 17.1%

--

--

--

Inventory of Homes for Sale

75

52

- 30.7%

--

--

--

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

2021

2022

Percent Change

2021

2022

Percent Change

Key Metrics

2021

2022

Percent Change

2021

2022

Percent Change

New Listings

24

22

- 8.3%

58

65

+ 12.1%

New Listings

56

45

- 19.6%

137

110

- 19.7%

Closed Sales

25

24

- 4.0%

65

53

- 18.5%

Closed Sales

55

42

- 23.6%

112

108

- 3.6%

Median Sales Price*

$199,850

$284,950

+ 42.6%

$220,500

$265,000

+ 20.2%

Median Sales Price*

$232,000

$340,501

+ 46.8%

$208,500

$323,658

+ 55.2%

Average Sales Price*

$257,844

$314,684

+ 22.0%

$240,372

$282,093

+ 17.4%

Average Sales Price*

$233,447

$313,662

+ 34.4%

$219,743

$306,787

+ 39.6%

97.1%

102.4%

+ 5.5%

96.3%

101.1%

+ 5.0%

Percent of Original List Price Received*

98.7%

102.3%

+ 3.6%

98.3%

101.6%

+ 3.4%

Days on Market Until Sale

23

9

- 60.9%

46

17

- 63.0%

Days on Market Until Sale

33

18

- 45.5%

30

13

- 56.7%

Inventory of Homes for Sale

15

2

- 86.7%

--

--

--

Inventory of Homes for Sale

28

8

- 71.4%

--

--

--

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 —

$600,000

Single-Family Detached All MLS — James Island —

$300,000

$500,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — West Ashley Area —

All MLS — West Ashley Area —

$300,000 $275,000

$500,000 $250,000

$400,000

$200,000

$300,000

$250,000

$400,000

$225,000 $200,000

$300,000

$175,000

$200,000

$150,000

$200,000

$150,000 $100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of April 8, 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.

$100,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

$125,000 1-2012

1-2014

1-2016

1-2018

1-2020

1-2022

Current as of April 8, 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.


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

843.628.0008 | TheCassinaGroup.com

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