November 2020 Real Estate Report | The Cassina Group

Page 1

NOVEMBER 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 – November 2020

Local Market Update – November 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 November

Single-Family Detached

Year to Date

November

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

19

31

+ 63.2%

437

435

- 0.5%

New Listings

20

22

+ 10.0%

257

315

+ 22.6%

Closed Sales

13

24

+ 84.6%

163

203

+ 24.5%

Closed Sales

7

17

+ 142.9%

170

193

+ 13.5%

Median Sales Price*

$925,000

1,082,500

+ 17.0%

$1,000,000

$915,000

- 8.5%

Median Sales Price*

$490,000

470,000

- 4.1%

$460,000

$525,000

+ 14.1%

Average Sales Price*

$1,460,423

$1,992,219

+ 36.4%

$1,416,820

$1,359,466

- 4.0%

Average Sales Price*

$473,500

$549,801

+ 16.1%

$489,117

$571,310

+ 16.8%

86.9%

90.6%

+ 4.3%

89.7%

90.3%

+ 0.7%

Percent of Original List Price Received*

90.5%

92.4%

+ 2.1%

91.1%

93.3%

+ 2.4%

Days on Market Until Sale

109

128

+ 17.4%

95

116

+ 22.1%

Days on Market Until Sale

142

43

- 69.7%

69

55

- 20.3%

Inventory of Homes for Sale

212

200

- 5.7%

--

--

--

Inventory of Homes for Sale

89

82

- 7.9%

--

--

--

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

November

Year to Date

November

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

25

22

- 12.0%

376

394

+ 4.8%

New Listings

4

1

- 75.0%

39

42

+ 7.7%

Closed Sales

15

23

+ 53.3%

154

167

+ 8.4%

Closed Sales

1

0

- 100.0%

18

21

+ 16.7%

Median Sales Price*

$779,000

$450,000

- 42.2%

$603,750

$575,000

- 4.8%

Median Sales Price*

$1,175,000

$0

- 100.0%

$274,175

$283,000

+ 3.2%

Average Sales Price*

$893,800

$796,522

- 10.9%

$756,255

$775,350

+ 2.5%

Average Sales Price*

$1,175,000

$0

- 100.0%

$387,158

$386,619

- 0.1%

89.6%

95.8%

+ 6.9%

91.2%

92.4%

+ 1.3%

Percent of Original List Price Received*

94.0%

0.0%

- 100.0%

92.6%

94.9%

+ 2.5%

Days on Market Until Sale

110

140

+ 27.3%

94

137

+ 45.7%

Days on Market Until Sale

45

0

- 100.0%

106

82

- 22.6%

Inventory of Homes for Sale

179

173

- 3.4%

--

--

--

Inventory of Homes for Sale

19

15

- 21.1%

--

--

--

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 $1,400,000

* 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

$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 December 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 December 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 – November 2020

Local Market Update – November 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 November

Single-Family Detached

Year to Date

November

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

71

57

- 19.7%

1,109

1,030

- 7.1%

New Listings

96

80

- 16.7%

1,474

1,373

- 6.9%

Closed Sales

57

64

+ 12.3%

745

871

+ 16.9%

Closed Sales

91

107

+ 17.6%

1,065

1,174

+ 10.2%

Median Sales Price*

$570,000

638,750

+ 12.1%

$570,000

$622,500

+ 9.2%

Median Sales Price*

$497,840

565,670

+ 13.6%

$513,290

$540,000

+ 5.2%

Average Sales Price*

$650,910

$761,516

+ 17.0%

$686,181

$755,881

+ 10.2%

Average Sales Price*

$538,713

$653,718

+ 21.3%

$567,381

$606,352

+ 6.9%

92.9%

97.2%

+ 4.6%

94.3%

95.8%

+ 1.6%

Percent of Original List Price Received*

96.7%

97.5%

+ 0.8%

96.5%

97.4%

+ 0.9%

Days on Market Until Sale

70

37

- 47.1%

62

55

- 11.3%

Days on Market Until Sale

71

43

- 39.4%

72

54

- 25.0%

Inventory of Homes for Sale

291

104

- 64.3%

--

--

--

Inventory of Homes for Sale

338

104

- 69.2%

--

--

--

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

November

Year to Date

November

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

27

34

+ 25.9%

383

463

+ 20.9%

New Listings

22

25

+ 13.6%

412

402

- 2.4%

Closed Sales

22

29

+ 31.8%

301

375

+ 24.6%

Closed Sales

19

28

+ 47.4%

306

326

+ 6.5%

Median Sales Price*

$234,000

$265,000

+ 13.2%

$248,500

$250,000

+ 0.6%

Median Sales Price*

$300,000

$326,000

+ 8.7%

$304,700

$319,125

+ 4.7%

Average Sales Price*

$291,433

$330,012

+ 13.2%

$343,515

$321,131

- 6.5%

Average Sales Price*

$293,640

$331,902

+ 13.0%

$292,683

$313,381

+ 7.1%

94.4%

97.4%

+ 3.2%

95.7%

96.2%

+ 0.5%

Percent of Original List Price Received*

96.7%

97.5%

+ 0.8%

96.3%

97.2%

+ 0.9%

Days on Market Until Sale

53

28

- 47.2%

53

50

- 5.7%

Days on Market Until Sale

81

40

- 50.6%

64

56

- 12.5%

Inventory of Homes for Sale

96

59

- 38.5%

--

--

--

Inventory of Homes for Sale

94

32

- 66.0%

--

--

--

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 $700,000

* 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

$600,000

$500,000

$300,000

$400,000

$250,000

$300,000

$200,000

$200,000

$150,000

$220,000

$500,000

$200,000 $400,000 $180,000 $300,000 $160,000 $200,000

$100,000 1-2010

$140,000

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 December 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 December 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 – November 2020

Local Market Update – November 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 November

Single-Family Detached

Year to Date

November

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

20

21

+ 5.0%

285

290

+ 1.8%

New Listings

6

4

- 33.3%

63

62

- 1.6%

Closed Sales

12

35

+ 191.7%

164

264

+ 61.0%

Closed Sales

7

8

+ 14.3%

48

50

+ 4.2%

Median Sales Price*

$1,207,500

1,126,000

- 6.7%

$1,097,500

$1,130,250

+ 3.0%

Median Sales Price*

$2,250,000

3,109,291

+ 38.2%

$2,142,500

$2,407,500

+ 12.4%

Average Sales Price*

$1,458,219

$1,504,763

+ 3.2%

$1,420,740

$1,368,979

- 3.6%

Average Sales Price*

$2,202,857

$3,475,010

+ 57.8%

$2,307,872

$2,564,452

+ 11.1%

89.9%

95.9%

+ 6.7%

91.5%

93.2%

+ 1.9%

Percent of Original List Price Received*

86.6%

95.5%

+ 10.3%

87.8%

92.8%

+ 5.7%

Days on Market Until Sale

212

117

- 44.8%

111

108

- 2.7%

Days on Market Until Sale

153

51

- 66.7%

115

75

- 34.8%

Inventory of Homes for Sale

137

45

- 67.2%

--

--

--

Inventory of Homes for Sale

22

18

- 18.2%

--

--

--

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

November

Year to Date

November

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

11

6

- 45.5%

140

139

- 0.7%

New Listings

1

0

- 100.0%

3

3

0.0%

Closed Sales

5

15

+ 200.0%

77

132

+ 71.4%

Closed Sales

0

1

--

3

4

+ 33.3%

Median Sales Price*

$423,000

$623,000

+ 47.3%

$485,000

$595,000

+ 22.7%

Median Sales Price*

$0

$810,000

--

$1,735,000

$1,205,000

- 30.5%

Average Sales Price*

$507,200

$743,340

+ 46.6%

$555,588

$664,194

+ 19.5%

Average Sales Price*

$0

$810,000

--

$1,397,500

$1,150,558

- 17.7%

96.0%

94.5%

- 1.6%

94.9%

94.3%

- 0.6%

Percent of Original List Price Received*

0.0%

79.0%

--

96.5%

86.9%

- 9.9%

Days on Market Until Sale

69

119

+ 72.5%

100

103

+ 3.0%

Days on Market Until Sale

0

0

--

170

265

+ 55.9%

Inventory of Homes for Sale

85

35

- 58.8%

--

--

--

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 —

$1,200,000

$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 December 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 December 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 – November 2020

Local Market Update – November 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 November

Single-Family Detached

Year to Date

November

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

70

73

+ 4.3%

964

813

- 15.7%

New Listings

124

103

- 16.9%

1,711

1,718

+ 0.4%

Closed Sales

49

53

+ 8.2%

661

692

+ 4.7%

Closed Sales

95

103

+ 8.4%

1,203

1,465

+ 21.8%

Median Sales Price*

$342,000

435,000

+ 27.2%

$360,000

$395,000

+ 9.7%

Median Sales Price*

$295,000

336,000

+ 13.9%

$315,000

$325,000

+ 3.2%

Average Sales Price*

$350,102

$474,187

+ 35.4%

$441,586

$484,715

+ 9.8%

Average Sales Price*

$318,274

$421,325

+ 32.4%

$341,304

$371,878

+ 9.0%

93.2%

97.6%

+ 4.7%

95.6%

96.5%

+ 0.9%

Percent of Original List Price Received*

94.1%

96.8%

+ 2.9%

95.3%

96.8%

+ 1.6%

Days on Market Until Sale

37

20

- 45.9%

47

41

- 12.8%

Days on Market Until Sale

44

37

- 15.9%

48

39

- 18.8%

Inventory of Homes for Sale

202

87

- 56.9%

--

--

--

Inventory of Homes for Sale

357

140

- 60.8%

--

--

--

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

November

Year to Date

November

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

10

16

+ 60.0%

265

265

0.0%

New Listings

41

34

- 17.1%

574

515

- 10.3%

Closed Sales

9

18

+ 100.0%

221

215

- 2.7%

Closed Sales

41

42

+ 2.4%

454

447

- 1.5%

Median Sales Price*

$229,000

$191,500

- 16.4%

$211,000

$205,800

- 2.5%

Median Sales Price*

$173,900

$206,950

+ 19.0%

$208,500

$214,000

+ 2.6%

Average Sales Price*

$230,656

$206,181

- 10.6%

$224,344

$206,677

- 7.9%

Average Sales Price*

$180,084

$218,827

+ 21.5%

$207,729

$215,864

+ 3.9%

94.2%

97.0%

+ 3.0%

97.3%

96.7%

- 0.6%

Percent of Original List Price Received*

98.1%

98.0%

- 0.1%

97.2%

97.4%

+ 0.2%

Days on Market Until Sale

49

27

- 44.9%

39

37

- 5.1%

Days on Market Until Sale

45

24

- 46.7%

45

43

- 4.4%

Inventory of Homes for Sale

48

27

- 43.8%

--

--

--

Inventory of Homes for Sale

115

48

- 58.3%

--

--

--

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 — James Island —

$500,000

$400,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

$240,000

All MLS — West Ashley Area —

$350,000

$220,000

$325,000

$200,000

$300,000

$180,000

$275,000

$160,000

$250,000

$140,000

$225,000

$120,000

$200,000

Rolling 12-Month Calculation

$240,000

$220,000

$200,000

$300,000

$180,000

$200,000

$100,000 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 December 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

$160,000

$140,000

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 December 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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