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MAY 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 – May 2020

Local Market Update – May 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 May

Single-Family Detached

Year to Date

May

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

48

47

- 2.1%

233

177

- 24.0%

New Listings

28

35

+ 25.0%

121

131

+ 8.3%

Closed Sales

16

5

- 68.8%

69

74

+ 7.2%

Closed Sales

17

11

- 35.3%

97

69

- 28.9%

Median Sales Price*

$667,500

$865,000

+ 29.6%

$875,000

$930,000

+ 6.3%

Median Sales Price*

$490,000

$509,900

+ 4.1%

$450,000

$550,000

+ 22.2%

Average Sales Price*

$1,149,492

$1,173,068

+ 2.1%

$1,570,143

$1,141,324

- 27.3%

Average Sales Price*

$526,200

$533,466

+ 1.4%

$484,400

$601,334

+ 24.1%

93.6%

94.2%

+ 0.6%

91.7%

89.5%

- 2.4%

Percent of Original List Price Received*

95.0%

96.8%

+ 1.9%

91.4%

93.2%

+ 2.0%

Days on Market Until Sale

92

102

+ 10.9%

86

118

+ 37.2%

Days on Market Until Sale

24

40

+ 66.7%

71

65

- 8.5%

Inventory of Homes for Sale

242

184

- 24.0%

--

--

--

Inventory of Homes for Sale

77

83

+ 7.8%

--

--

--

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

May

Year to Date

May

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

44

- 12.0%

220

184

- 16.4%

New Listings

5

1

- 80.0%

15

12

- 20.0%

Closed Sales

12

10

- 16.7%

66

69

+ 4.5%

Closed Sales

3

2

- 33.3%

8

10

+ 25.0%

Median Sales Price*

$685,500

$508,750

- 25.8%

$690,000

$598,000

- 13.3%

Median Sales Price*

$303,000

$423,750

+ 39.9%

$285,675

$283,500

- 0.8%

Average Sales Price*

$721,529

$548,800

- 23.9%

$807,534

$927,771

+ 14.9%

Average Sales Price*

$301,833

$423,750

+ 40.4%

$305,481

$385,050

+ 26.0%

88.0%

93.7%

+ 6.5%

92.4%

91.2%

- 1.3%

88.5%

93.4%

+ 5.5%

91.1%

95.7%

+ 5.0%

Days on Market Until Sale

149

161

+ 8.1%

95

146

+ 53.7%

Days on Market Until Sale

173

90

- 48.0%

109

62

- 43.1%

Inventory of Homes for Sale

214

193

- 9.8%

--

--

--

Inventory of Homes for Sale

12

11

- 8.3%

--

--

--

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 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 June 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 June 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 – May 2020

Local Market Update – May 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 May

Single-Family Detached

Year to Date

May

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

153

99

- 35.3%

593

467

- 21.2%

New Listings

170

132

- 22.4%

770

591

- 23.2%

Closed Sales

85

73

- 14.1%

325

310

- 4.6%

Closed Sales

135

95

- 29.6%

414

426

+ 2.9%

Median Sales Price*

$535,000

$565,000

+ 5.6%

$570,000

$585,000

+ 2.6%

Median Sales Price*

$499,000

$536,790

+ 7.6%

$510,988

$532,453

+ 4.2%

Average Sales Price*

$670,510

$656,238

- 2.1%

$702,006

$673,544

- 4.1%

Average Sales Price*

$553,766

$610,588

+ 10.3%

$568,287

$584,552

+ 2.9%

94.5%

96.2%

+ 1.8%

94.0%

95.0%

+ 1.1%

Percent of Original List Price Received*

96.9%

97.6%

+ 0.7%

96.7%

97.0%

+ 0.3%

Days on Market Until Sale

57

44

- 22.8%

67

63

- 6.0%

Days on Market Until Sale

73

49

- 32.9%

72

67

- 6.9%

Inventory of Homes for Sale

306

231

- 24.5%

--

--

--

Inventory of Homes for Sale

457

273

- 40.3%

--

--

--

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

May

Year to Date

May

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

46

40

- 13.0%

197

203

+ 3.0%

New Listings

41

46

+ 12.2%

224

193

- 13.8%

Closed Sales

27

23

- 14.8%

124

119

- 4.0%

Closed Sales

27

19

- 29.6%

130

109

- 16.2%

Median Sales Price*

$279,900

$228,000

- 18.5%

$255,000

$245,000

- 3.9%

Median Sales Price*

$258,000

$327,000

+ 26.7%

$301,250

$310,000

+ 2.9%

Average Sales Price*

$385,107

$298,409

- 22.5%

$374,413

$298,368

- 20.3%

Average Sales Price*

$290,946

$321,040

+ 10.3%

$293,873

$310,349

+ 5.6%

95.2%

95.8%

+ 0.6%

95.5%

95.9%

+ 0.4%

Percent of Original List Price Received*

97.2%

96.3%

- 0.9%

96.6%

97.0%

+ 0.4%

Days on Market Until Sale

61

40

- 34.4%

58

57

- 1.7%

Days on Market Until Sale

58

69

+ 19.0%

51

74

+ 45.1%

Inventory of Homes for Sale

101

83

- 17.8%

--

--

--

Inventory of Homes for Sale

122

94

- 23.0%

--

--

--

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 $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 June 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 June 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 – May 2020

Local Market Update – May 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 May

Single-Family Detached

Year to Date

May

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

31

37

+ 19.4%

164

125

- 23.8%

New Listings

11

5

- 54.5%

34

25

- 26.5%

Closed Sales

22

11

- 50.0%

78

56

- 28.2%

Closed Sales

5

6

+ 20.0%

17

17

0.0%

Median Sales Price*

$1,015,500

$865,000

- 14.8%

$1,160,000

$1,030,000

- 11.2%

Median Sales Price*

$2,500,000

$2,625,000

+ 5.0%

$2,135,000

$2,600,000

+ 21.8%

Average Sales Price*

$1,239,705

$1,168,136

- 5.8%

$1,451,773

$1,242,813

- 14.4%

Average Sales Price*

$2,567,000

$2,400,000

- 6.5%

$2,236,110

$2,307,500

+ 3.2%

91.1%

90.7%

- 0.4%

92.1%

90.9%

- 1.3%

Percent of Original List Price Received*

94.8%

84.7%

- 10.7%

88.3%

89.7%

+ 1.6%

Days on Market Until Sale

93

195

+ 109.7%

98

128

+ 30.6%

Days on Market Until Sale

54

142

+ 163.0%

83

93

+ 12.0%

Inventory of Homes for Sale

160

116

- 27.5%

--

--

--

Inventory of Homes for Sale

35

17

- 51.4%

--

--

--

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

May

Year to Date

May

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

15

13

- 13.3%

72

64

- 11.1%

New Listings

0

1

--

1

2

+ 100.0%

Closed Sales

9

6

- 33.3%

34

35

+ 2.9%

Closed Sales

0

0

--

1

2

+ 100.0%

Median Sales Price*

$475,000

$521,250

+ 9.7%

$491,750

$612,000

+ 24.5%

Median Sales Price*

$0

$0

--

$1,770,000

$1,625,000

- 8.2%

Average Sales Price*

$458,889

$546,750

+ 19.1%

$537,007

$669,484

+ 24.7%

Average Sales Price*

$0

$0

--

$1,770,000

$1,625,000

- 8.2%

96.5%

93.2%

- 3.4%

95.3%

92.9%

- 2.5%

0.0%

0.0%

--

94.4%

89.0%

- 5.7%

Days on Market Until Sale

95

102

+ 7.4%

82

108

+ 31.7%

Days on Market Until Sale

0

0

--

195

527

+ 170.3%

Inventory of Homes for Sale

84

76

- 9.5%

--

--

--

Inventory of Homes for Sale

2

1

- 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.

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 June 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 June 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 – May 2020

Local Market Update – May 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 May

Single-Family Detached

Year to Date

May

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

120

68

- 43.3%

491

380

- 22.6%

New Listings

187

199

+ 6.4%

835

846

+ 1.3%

Closed Sales

73

46

- 37.0%

283

280

- 1.1%

Closed Sales

140

134

- 4.3%

534

576

+ 7.9%

Median Sales Price*

$385,000

$350,000

- 9.1%

$364,900

$369,700

+ 1.3%

Median Sales Price*

$311,250

$297,940

- 4.3%

$312,115

$313,450

+ 0.4%

Average Sales Price*

$461,473

$425,605

- 7.8%

$473,704

$438,313

- 7.5%

Average Sales Price*

$336,868

$335,818

- 0.3%

$344,970

$345,974

+ 0.3%

96.5%

95.2%

- 1.3%

95.3%

95.6%

+ 0.3%

Percent of Original List Price Received*

95.4%

97.1%

+ 1.8%

95.5%

96.3%

+ 0.8%

Days on Market Until Sale

45

58

+ 28.9%

57

49

- 14.0%

Days on Market Until Sale

42

36

- 14.3%

50

47

- 6.0%

Inventory of Homes for Sale

231

115

- 50.2%

--

--

--

Inventory of Homes for Sale

392

231

- 41.1%

--

--

--

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

May

Year to Date

May

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

35

22

- 37.1%

152

118

- 22.4%

New Listings

50

48

- 4.0%

279

234

- 16.1%

Closed Sales

30

18

- 40.0%

96

77

- 19.8%

Closed Sales

60

29

- 51.7%

194

184

- 5.2%

Median Sales Price*

$231,500

$202,500

- 12.5%

$209,000

$207,500

- 0.7%

Median Sales Price*

$195,000

$263,000

+ 34.9%

$214,500

$226,000

+ 5.4%

Average Sales Price*

$226,749

$196,361

- 13.4%

$218,426

$201,591

- 7.7%

Average Sales Price*

$201,368

$244,333

+ 21.3%

$208,674

$221,216

+ 6.0%

98.1%

96.7%

- 1.4%

96.9%

96.1%

- 0.8%

Percent of Original List Price Received*

97.8%

98.0%

+ 0.2%

97.2%

96.6%

- 0.6%

Days on Market Until Sale

48

62

+ 29.2%

46

45

- 2.2%

Days on Market Until Sale

41

40

- 2.4%

45

57

+ 26.7%

Inventory of Homes for Sale

62

42

- 32.3%

--

--

--

Inventory of Homes for Sale

123

63

- 48.8%

--

--

--

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.

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

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

$325,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — West Ashley Area —

$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 June 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 June 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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