March 2024 Real Estate Report | The Cassina Group

MARCH 2024

R E A L E STAT E R EPO 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 2024

Local Market Update – March 2024

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

2023

2024

Percent Change

2023

2024

Percent Change

Key Metrics

2023

2024

Percent Change

2023

2024

Percent Change

New Listings

22

29

+ 31.8%

63

80

+ 27.0%

New Listings

20

20

0.0%

46

55

+ 19.6%

Closed Sales

23

16

- 30.4%

43

40

- 7.0%

Closed Sales

11

10

- 9.1%

31

26

- 16.1%

Median Sales Price*

$1,925,000

$1,510,250

- 21.5%

$1,925,000

$1,397,500

- 27.4%

Median Sales Price*

$1,300,000

$1,247,500

- 4.0%

$705,000

$830,000

+ 17.7%

Average Sales Price*

$1,946,922

$1,876,653

- 3.6%

$2,106,028

$1,651,536

- 21.6%

Average Sales Price*

$1,121,273

$1,209,700

+ 7.9%

$857,532

$974,073

+ 13.6%

91.7%

97.5%

+ 6.3%

92.0%

95.5%

+ 3.8%

Percent of Original List Price Received*

93.5%

95.8%

+ 2.5%

93.0%

95.4%

+ 2.6%

Days on Market Until Sale

53

38

- 28.3%

54

43

- 20.4%

Days on Market Until Sale

50

31

- 38.0%

47

65

+ 38.3%

Inventory of Homes for Sale

47

54

+ 14.9%

--

--

--

Inventory of Homes for Sale

21

32

+ 52.4%

--

--

--

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.

* 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

2023

2024

Percent Change

2023

2024

Percent Change

Key Metrics

2023

2024

Percent Change

2023

2024

Percent Change

New Listings

28

33

+ 17.9%

60

98

+ 63.3%

New Listings

8

3

- 62.5%

13

6

- 53.8%

Closed Sales

13

21

+ 61.5%

37

48

+ 29.7%

Closed Sales

4

0

- 100.0%

7

2

- 71.4%

Median Sales Price*

$865,000

$1,050,000

+ 21.4%

$682,000

$889,500

+ 30.4%

Median Sales Price*

$531,000

$0

- 100.0%

$450,000

$638,500

+ 41.9%

Average Sales Price*

$787,923

$1,080,095

+ 37.1%

$760,473

$1,117,821

+ 47.0%

Average Sales Price*

$485,500

$0

- 100.0%

$451,071

$638,500

+ 41.6%

Percent of Original List Price Received*

97.9%

97.6%

- 0.3%

95.7%

95.9%

+ 0.2%

Percent of Original List Price Received*

98.4%

0.0%

- 100.0%

99.3%

93.9%

- 5.4%

Days on Market Until Sale

17

26

+ 52.9%

40

44

+ 10.0%

Days on Market Until Sale

43

0

- 100.0%

38

80

+ 110.5%

Inventory of Homes for Sale

64

81

+ 26.6%

--

--

--

Inventory of Homes for Sale

7

4

- 42.9%

--

--

--

* 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.

Historical Median Sales Price Rolling 12-Month Calculation

Historical Median Sales Price Rolling 12-Month Calculation

Single-Family Detached $1,750,000

Townhouse-Condo Attached All MLS — Downtown Charleston —

Single-Family Detached All MLS — Downtown Charleston —

$1,000,000

$1,500,000

$900,000

Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —

$800,000 $700,000 $600,000

$1,000,000

$700,000

$600,000

$800,000 $1,250,000

All MLS — Upper Charleston Peninsula —

$500,000

$600,000 $400,000

$750,000

$500,000

$400,000

$500,000 $200,000

$250,000 $0 1-2014

$300,000

$400,000

1-2016

1-2018

1-2020

1-2022

1-2024

$0 1-2014

$200,000

$300,000

1-2016

1-2018

1-2020

1-2022

1-2024

Current as of April 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2024 ShowingTime Plus, LLC. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$200,000 1-2014

1-2016

1-2018

1-2020

1-2022

1-2024

$100,000 1-2014

1-2016

1-2018

1-2020

1-2022

1-2024

Current as of April 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2024 ShowingTime Plus, LLC. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

Local Market Update – March 2024

Local Market Update – March 2024

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

2023

2024

Percent Change

2023

2024

Percent Change

Key Metrics

2023

2024

Percent Change

2023

2024

Percent Change

New Listings

62

80

+ 29.0%

159

195

+ 22.6%

New Listings

112

95

- 15.2%

234

263

+ 12.4%

Closed Sales

52

43

- 17.3%

104

124

+ 19.2%

Closed Sales

77

54

- 29.9%

167

151

- 9.6%

Median Sales Price*

$877,000

$1,040,000

+ 18.6%

$879,000

$947,500

+ 7.8%

Median Sales Price*

$794,000

$985,000

+ 24.1%

$785,000

$999,900

+ 27.4%

Average Sales Price*

$1,296,177

$1,201,742

- 7.3%

$1,299,082

$1,278,403

- 1.6%

Average Sales Price*

$898,395

$1,129,591

+ 25.7%

$916,638

$1,137,302

+ 24.1%

94.5%

96.1%

+ 1.7%

95.3%

96.1%

+ 0.8%

Percent of Original List Price Received*

95.9%

97.8%

+ 2.0%

94.8%

97.5%

+ 2.8%

Days on Market Until Sale

39

32

- 17.9%

33

26

- 21.2%

Days on Market Until Sale

48

17

- 64.6%

49

29

- 40.8%

Inventory of Homes for Sale

66

69

+ 4.5%

--

--

--

Inventory of Homes for Sale

93

87

- 6.5%

--

--

--

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

2023

2024

Percent Change

2023

2024

Percent Change

Key Metrics

2023

2024

Percent Change

2023

2024

Percent Change

New Listings

26

26

0.0%

61

86

+ 41.0%

New Listings

26

32

+ 23.1%

63

85

+ 34.9%

Closed Sales

18

27

+ 50.0%

48

67

+ 39.6%

Closed Sales

16

26

+ 62.5%

48

60

+ 25.0%

Median Sales Price*

$382,500

$405,000

+ 5.9%

$375,000

$470,000

+ 25.3%

Median Sales Price*

$505,000

$520,500

+ 3.1%

$492,450

$509,250

+ 3.4%

Average Sales Price*

$420,389

$534,652

+ 27.2%

$413,581

$609,284

+ 47.3%

Average Sales Price*

$482,221

$534,899

+ 10.9%

$473,491

$521,041

+ 10.0%

Percent of Original List Price Received*

95.7%

97.3%

+ 1.7%

96.0%

97.4%

+ 1.5%

Percent of Original List Price Received*

98.9%

98.2%

- 0.7%

97.3%

98.4%

+ 1.1%

Days on Market Until Sale

24

18

- 25.0%

26

16

- 38.5%

Days on Market Until Sale

21

26

+ 23.8%

33

25

- 24.2%

Inventory of Homes for Sale

19

22

+ 15.8%

--

--

--

Inventory of Homes for Sale

22

18

- 18.2%

--

--

--

* 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.

Historical Median Sales Price Rolling 12-Month Calculation

Historical Median Sales Price Rolling 12-Month Calculation

Single-Family Detached $1,000,000

Townhouse-Condo Attached All MLS — Lower Mount Pleasant —

Single-Family Detached All MLS — Lower Mount Pleasant —

$500,000

$1,000,000

$800,000

$400,000

$800,000

$600,000

$300,000

$600,000

Townhouse-Condo Attached All MLS — Upper Mount Pleasant —

All MLS — Upper Mount Pleasant —

$600,000

$500,000

$400,000

$300,000 $400,000

$200,000 1-2014

$400,000

$200,000

1-2016

1-2018

1-2020

1-2022

1-2024

$100,000 1-2014

$200,000

1-2016

1-2018

1-2020

1-2022

1-2024

Current as of April 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2024 ShowingTime Plus, LLC. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$200,000 1-2014

1-2016

1-2018

1-2020

1-2022

1-2024

$100,000 1-2014

1-2016

1-2018

1-2020

1-2022

1-2024

Current as of April 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2024 ShowingTime Plus, LLC. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

Local Market Update – March 2024

Local Market Update – March 2024

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

2023

2024

Percent Change

2023

2024

Percent Change

Key Metrics

2023

2024

Percent Change

2023

2024

Percent Change

New Listings

18

18

0.0%

39

56

+ 43.6%

New Listings

10

9

- 10.0%

16

16

0.0%

Closed Sales

10

15

+ 50.0%

23

26

+ 13.0%

Closed Sales

9

6

- 33.3%

13

7

- 46.2%

Median Sales Price*

$2,450,000

$2,044,000

- 16.6%

$1,890,000

$1,790,000

- 5.3%

Median Sales Price*

$5,250,000

$3,112,500

- 40.7%

$5,250,000

$3,525,000

- 32.9%

Average Sales Price*

$2,802,000

$2,117,667

- 24.4%

$2,411,391

$1,980,385

- 17.9%

Average Sales Price*

$5,826,111

$4,707,500

- 19.2%

$5,663,846

$5,506,429

- 2.8%

90.4%

92.6%

+ 2.4%

90.7%

92.6%

+ 2.1%

Percent of Original List Price Received*

93.5%

88.4%

- 5.5%

94.3%

89.8%

- 4.8%

Days on Market Until Sale

75

43

- 42.7%

80

39

- 51.3%

Days on Market Until Sale

85

81

- 4.7%

85

71

- 16.5%

Inventory of Homes for Sale

35

44

+ 25.7%

--

--

--

Inventory of Homes for Sale

16

10

- 37.5%

--

--

--

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

2023

2024

Percent Change

2023

2024

Percent Change

Key Metrics

2023

2024

Percent Change

2023

2024

Percent Change

New Listings

14

16

+ 14.3%

28

37

+ 32.1%

New Listings

0

1

--

0

1

--

Closed Sales

12

7

- 41.7%

19

19

0.0%

Closed Sales

0

0

--

1

0

- 100.0%

Median Sales Price*

$1,037,500

$1,150,000

+ 10.8%

$1,000,000

$1,030,000

+ 3.0%

Median Sales Price*

$0

$0

--

$1,375,000

$0

- 100.0%

Average Sales Price*

$1,165,667

$978,286

- 16.1%

$1,132,474

$976,632

- 13.8%

Average Sales Price*

$0

$0

--

$1,375,000

$0

- 100.0%

96.1%

95.5%

- 0.6%

96.1%

96.9%

+ 0.8%

Percent of Original List Price Received*

0.0%

0.0%

--

98.2%

0.0%

- 100.0%

Days on Market Until Sale

46

60

+ 30.4%

35

46

+ 31.4%

Days on Market Until Sale

0

0

--

38

0

- 100.0%

Inventory of Homes for Sale

12

28

+ 133.3%

--

--

--

Inventory of Homes for Sale

0

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.

Historical Median Sales Price Rolling 12-Month Calculation

Historical Median Sales Price Rolling 12-Month Calculation Townhouse-Condo Attached

Single-Family Detached

All MLS — Isle of Palms —

$2,500,000

$2,000,000

Single-Family Detached All MLS — Isle of Palms —

$1,200,000

$6,000,000

$1,000,000

$5,000,000

$800,000

$4,000,000

$600,000

$3,000,000

$400,000

$2,000,000

$200,000

$1,000,000

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

All MLS — Sullivan's Island —

$2,000,000

$1,500,000 $1,500,000 $1,000,000

$1,000,000

$500,000

$500,000

$0 1-2014

1-2016

1-2018

1-2020

1-2022

1-2024

$0 1-2014

1-2016

1-2018

1-2020

1-2022

1-2024

Current as of April 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2024 ShowingTime Plus, LLC. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$0 1-2014

1-2016

1-2018

1-2020

1-2022

1-2024

$0 1-2014

1-2016

1-2018

1-2020

1-2022

1-2024

Current as of April 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2024 ShowingTime Plus, LLC. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

Local Market Update – March 2024

Local Market Update – March 2024

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

2023

2024

Percent Change

2023

2024

Percent Change

Key Metrics

2023

2024

Percent Change

2023

2024

Percent Change

New Listings

54

41

- 24.1%

127

126

- 0.8%

New Listings

135

111

- 17.8%

324

271

- 16.4%

Closed Sales

47

37

- 21.3%

97

94

- 3.1%

Closed Sales

96

79

- 17.7%

220

190

- 13.6%

Median Sales Price*

$600,000

$675,000

+ 12.5%

$553,500

$623,500

+ 12.6%

Median Sales Price*

$485,000

$503,650

+ 3.8%

$461,000

$490,000

+ 6.3%

Average Sales Price*

$783,953

$836,312

+ 6.7%

$702,136

$755,533

+ 7.6%

Average Sales Price*

$538,541

$603,980

+ 12.2%

$512,968

$550,801

+ 7.4%

Percent of Original List Price Received*

97.4%

95.7%

- 1.7%

95.7%

95.4%

- 0.3%

Percent of Original List Price Received*

97.0%

97.5%

+ 0.5%

96.0%

96.8%

+ 0.8%

Days on Market Until Sale

39

43

+ 10.3%

38

33

- 13.2%

Days on Market Until Sale

25

23

- 8.0%

32

29

- 9.4%

Inventory of Homes for Sale

41

51

+ 24.4%

--

--

--

Inventory of Homes for Sale

95

79

- 16.8%

--

--

--

* 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

2023

2024

Percent Change

2023

2024

Percent Change

Key Metrics

2023

2024

Percent Change

2023

2024

Percent Change

New Listings

15

10

- 33.3%

39

43

+ 10.3%

New Listings

42

34

- 19.0%

89

127

+ 42.7%

Closed Sales

18

20

+ 11.1%

37

37

0.0%

Closed Sales

27

31

+ 14.8%

60

72

+ 20.0%

Median Sales Price*

$307,750

$363,750

+ 18.2%

$304,000

$349,500

+ 15.0%

Median Sales Price*

$330,000

$303,000

- 8.2%

$329,200

$341,250

+ 3.7%

Average Sales Price*

$379,306

$355,375

- 6.3%

$351,446

$350,541

- 0.3%

Average Sales Price*

$311,656

$341,169

+ 9.5%

$330,414

$345,154

+ 4.5%

Percent of Original List Price Received*

103.9%

98.2%

- 5.5%

100.1%

97.7%

- 2.4%

Percent of Original List Price Received*

97.0%

97.9%

+ 0.9%

96.6%

97.2%

+ 0.6%

Days on Market Until Sale

3

14

+ 366.7%

14

23

+ 64.3%

Days on Market Until Sale

37

34

- 8.1%

31

38

+ 22.6%

Inventory of Homes for Sale

5

13

+ 160.0%

--

--

--

Inventory of Homes for Sale

25

41

+ 64.0%

--

--

--

* 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.

Historical Median Sales Price Rolling 12-Month Calculation

Historical Median Sales Price Rolling 12-Month Calculation Townhouse-Condo Attached

Single-Family Detached

All MLS — James Island —

$700,000

Single-Family Detached All MLS — James Island —

$400,000

$600,000

Townhouse-Condo Attached All MLS — West Ashley Area —

$350,000

$600,000

All MLS — West Ashley Area —

$400,000

$350,000 $500,000

$300,000

$300,000

$500,000 $400,000

$250,000

$250,000

$400,000 $200,000 $300,000

$200,000 1-2014

$200,000 $300,000

$150,000

1-2016

1-2018

1-2020

1-2022

1-2024

$100,000 1-2014

$150,000

1-2016

1-2018

1-2020

1-2022

1-2024

Current as of April 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2024 ShowingTime Plus, LLC. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$200,000 1-2014

1-2016

1-2018

1-2020

1-2022

1-2024

$100,000 1-2014

1-2016

1-2018

1-2020

1-2022

1-2024

Current as of April 9, 2024. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2024 ShowingTime Plus, LLC. | 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 | CassinaGroup.com

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