Page 1

MAY 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 – May 2019

Local Market Update – May 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 May

Single-Family Detached

Year to Date

May

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

43

46

+ 7.0%

192

234

+ 21.9%

New Listings

25

28

+ 12.0%

123

121

- 1.6%

Closed Sales

19

16

- 15.8%

98

69

- 29.6%

Closed Sales

15

17

+ 13.3%

81

97

+ 19.8%

Median Sales Price*

$895,000

$667,500

- 25.4%

$888,750

$875,000

- 1.5%

Median Sales Price*

$555,000

$490,000

- 11.7%

$515,000

$450,000

- 12.6%

Average Sales Price*

$1,423,758

$1,149,492

- 19.3%

$1,158,728

$1,570,107

+ 35.5%

Average Sales Price*

$597,873

$526,200

- 12.0%

$520,878

$484,400

- 7.0%

93.7%

93.6%

- 0.1%

91.9%

91.7%

- 0.2%

Percent of Original List Price Received*

95.6%

95.0%

- 0.6%

94.2%

91.4%

- 3.0%

Days on Market Until Sale

44

92

+ 109.1%

104

86

- 17.3%

Days on Market Until Sale

55

24

- 56.4%

55

71

+ 29.1%

Inventory of Homes for Sale

154

221

+ 43.5%

--

--

--

Inventory of Homes for Sale

67

64

- 4.5%

--

--

--

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

May

Year to Date

May

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

38

52

+ 36.8%

216

221

+ 2.3%

New Listings

4

5

+ 25.0%

24

15

- 37.5%

Closed Sales

21

12

- 42.9%

85

66

- 22.4%

Closed Sales

2

3

+ 50.0%

11

8

- 27.3%

Median Sales Price*

$435,000

$685,500

+ 57.6%

$542,500

$690,000

+ 27.2%

Median Sales Price*

$327,500

$303,000

- 7.5%

$425,000

$285,675

- 32.8%

Average Sales Price*

$473,071

$721,529

+ 52.5%

$717,918

$807,534

+ 12.5%

Average Sales Price*

$327,500

$301,833

- 7.8%

$495,959

$305,481

- 38.4%

95.4%

88.0%

- 7.8%

94.4%

92.4%

- 2.1%

Percent of Original List Price Received*

90.6%

88.5%

- 2.3%

98.7%

91.1%

- 7.7%

Days on Market Until Sale

80

149

+ 86.3%

92

95

+ 3.3%

Days on Market Until Sale

24

173

+ 620.8%

50

109

+ 118.0%

Inventory of Homes for Sale

165

197

+ 19.4%

--

--

--

Inventory of Homes for Sale

13

11

- 15.4%

--

--

--

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 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 —

$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 June 7, 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 June 7, 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 – May 2019

Local Market Update – May 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 May

Single-Family Detached

Year to Date

May

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

123

153

+ 24.4%

551

593

+ 7.6%

New Listings

152

168

+ 10.5%

699

767

+ 9.7%

Closed Sales

112

84

- 25.0%

363

324

- 10.7%

Closed Sales

89

135

+ 51.7%

382

413

+ 8.1%

Median Sales Price*

$577,000

$536,250

- 7.1%

$550,000

$570,000

+ 3.6%

Median Sales Price*

$549,000

$499,000

- 9.1%

$520,000

$510,265

- 1.9%

Average Sales Price*

$665,570

$673,849

+ 1.2%

$640,603

$702,969

+ 9.7%

Average Sales Price*

$581,650

$553,766

- 4.8%

$567,217

$568,355

+ 0.2%

97.0%

94.5%

- 2.6%

95.6%

94.1%

- 1.6%

Percent of Original List Price Received*

95.9%

96.9%

+ 1.0%

96.5%

96.7%

+ 0.2%

Days on Market Until Sale

41

57

+ 39.0%

51

67

+ 31.4%

Days on Market Until Sale

64

73

+ 14.1%

79

72

- 8.9%

Inventory of Homes for Sale

257

283

+ 10.1%

--

--

--

Inventory of Homes for Sale

446

414

- 7.2%

--

--

--

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

May

Year to Date

May

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

44

46

+ 4.5%

215

197

- 8.4%

New Listings

51

41

- 19.6%

218

224

+ 2.8%

Closed Sales

45

27

- 40.0%

149

124

- 16.8%

Closed Sales

26

26

0.0%

141

129

- 8.5%

Median Sales Price*

$230,000

$279,900

+ 21.7%

$237,000

$255,000

+ 7.6%

Median Sales Price*

$265,250

$258,000

- 2.7%

$309,500

$297,500

- 3.9%

Average Sales Price*

$261,264

$385,107

+ 47.4%

$321,956

$374,413

+ 16.3%

Average Sales Price*

$291,938

$286,175

- 2.0%

$300,181

$292,934

- 2.4%

96.9%

95.2%

- 1.8%

96.8%

95.5%

- 1.3%

98.0%

97.1%

- 0.9%

97.9%

96.6%

- 1.3%

Days on Market Until Sale

36

61

+ 69.4%

46

58

+ 26.1%

Days on Market Until Sale

26

60

+ 130.8%

52

51

- 1.9%

Inventory of Homes for Sale

80

93

+ 16.3%

--

--

--

Inventory of Homes for Sale

93

114

+ 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.

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 —

Percent of Original List Price Received*

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 June 7, 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 June 7, 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 – May 2019

Local Market Update – May 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 May

Single-Family Detached

Year to Date

May

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

34

30

- 11.8%

134

163

+ 21.6%

New Listings

9

10

+ 11.1%

51

33

- 35.3%

Closed Sales

20

21

+ 5.0%

92

77

- 16.3%

Closed Sales

6

5

- 16.7%

25

17

- 32.0%

Median Sales Price*

$872,000

$1,050,000

+ 20.4%

$985,000

$1,170,000

+ 18.8%

Median Sales Price*

$1,787,500

$2,500,000

+ 39.9%

$2,000,000

$2,135,000

+ 6.7%

Average Sales Price*

$1,588,975

$1,266,595

- 20.3%

$1,332,442

$1,461,861

+ 9.7%

Average Sales Price*

$1,914,583

$2,567,000

+ 34.1%

$2,142,984

$2,236,110

+ 4.3%

93.7%

91.4%

- 2.5%

91.7%

92.1%

+ 0.4%

Percent of Original List Price Received*

93.9%

94.8%

+ 1.0%

94.1%

88.3%

- 6.2%

Days on Market Until Sale

96

98

+ 2.1%

117

99

- 15.4%

Days on Market Until Sale

24

54

+ 125.0%

96

83

- 13.5%

Inventory of Homes for Sale

129

152

+ 17.8%

--

--

--

Inventory of Homes for Sale

31

31

0.0%

--

--

--

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.

* 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

2018

2019

Percent Change

2018

2019

Percent Change

Key Metrics

2018

2019

Percent Change

2018

2019

Percent Change

New Listings

14

15

+ 7.1%

69

72

+ 4.3%

New Listings

4

0

- 100.0%

6

1

- 83.3%

Closed Sales

8

9

+ 12.5%

48

34

- 29.2%

Closed Sales

0

0

--

2

1

- 50.0%

Median Sales Price*

$587,500

$475,000

- 19.1%

$473,000

$491,750

+ 4.0%

Median Sales Price*

$0

$0

--

$487,500

$1,770,000

+ 263.1%

Average Sales Price*

$611,339

$458,889

- 24.9%

$531,650

$537,007

+ 1.0%

Average Sales Price*

$0

$0

--

$487,500

$1,770,000

+ 263.1%

95.1%

96.5%

+ 1.5%

94.5%

95.3%

+ 0.8%

Percent of Original List Price Received*

0.0%

0.0%

--

97.5%

94.4%

- 3.2%

Days on Market Until Sale

125

95

- 24.0%

92

82

- 10.9%

Days on Market Until Sale

0

0

--

13

195

+ 1,400.0%

Inventory of Homes for Sale

66

84

+ 27.3%

--

--

--

Inventory of Homes for Sale

4

2

- 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

$1,000,000

Townhouse-Condo Attached

Single-Family Detached All MLS — Isle of Palms —

$1,000,000

$800,000

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

$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 June 7, 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 June 7, 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 – May 2019

Local Market Update – May 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 May

Single-Family Detached

Year to Date

May

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

88

120

+ 36.4%

457

491

+ 7.4%

New Listings

182

186

+ 2.2%

834

829

- 0.6%

Closed Sales

62

71

+ 14.5%

308

281

- 8.8%

Closed Sales

165

135

- 18.2%

598

528

- 11.7%

Median Sales Price*

$348,750

$385,000

+ 10.4%

$367,500

$364,900

- 0.7%

Median Sales Price*

$306,230

$315,000

+ 2.9%

$310,000

$312,500

+ 0.8%

Average Sales Price*

$447,313

$452,319

+ 1.1%

$410,522

$471,331

+ 14.8%

Average Sales Price*

$355,784

$340,152

- 4.4%

$342,776

$346,104

+ 1.0%

96.1%

96.6%

+ 0.5%

97.4%

95.3%

- 2.2%

98.0%

95.5%

- 2.6%

97.0%

95.5%

- 1.5%

Days on Market Until Sale

37

43

+ 16.2%

39

57

+ 46.2%

Days on Market Until Sale

32

41

+ 28.1%

41

50

+ 22.0%

Inventory of Homes for Sale

212

209

- 1.4%

--

--

--

Inventory of Homes for Sale

323

347

+ 7.4%

--

--

--

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

May

Year to Date

May

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

31

35

+ 12.9%

112

152

+ 35.7%

New Listings

46

49

+ 6.5%

220

279

+ 26.8%

Closed Sales

24

29

+ 20.8%

95

95

0.0%

Closed Sales

42

60

+ 42.9%

181

194

+ 7.2%

Median Sales Price*

$200,000

$233,000

+ 16.5%

$195,000

$213,000

+ 9.2%

Median Sales Price*

$181,875

$195,000

+ 7.2%

$185,000

$214,500

+ 15.9%

Average Sales Price*

$185,823

$229,292

+ 23.4%

$196,517

$219,115

+ 11.5%

Average Sales Price*

$192,589

$201,920

+ 4.8%

$187,028

$208,844

+ 11.7%

96.6%

98.1%

+ 1.6%

95.9%

96.9%

+ 1.0%

Percent of Original List Price Received*

97.6%

98.1%

+ 0.5%

97.6%

97.3%

- 0.3%

Days on Market Until Sale

49

49

0.0%

53

46

- 13.2%

Days on Market Until Sale

32

41

+ 28.1%

39

45

+ 15.4%

Inventory of Homes for Sale

40

56

+ 40.0%

--

--

--

Inventory of Homes for Sale

65

107

+ 64.6%

--

--

--

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

* 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 June 7, 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 June 7, 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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May 2019 Real Estate Report | Presented by The Cassina Group  

May 2019 Real Estate Report | Presented by The Cassina Group  

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