November 2021 Real Estate Report | The Cassina Group

Page 1

NOVEMBER 2021

R E AL E STATE 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 2021

Local Market Update – November 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

31

22

- 29.0%

434

384

- 11.5%

New Listings

22

14

- 36.4%

315

255

- 19.0%

Closed Sales

24

19

- 20.8%

203

359

+ 76.8%

Closed Sales

17

12

- 29.4%

196

229

+ 16.8%

Median Sales Price*

$1,082,500

$1,750,000

+ 61.7%

$920,000

$1,049,000

+ 14.0%

Median Sales Price*

$470,000

$732,300

+ 55.8%

$522,500

$590,000

+ 12.9%

Average Sales Price*

$1,992,219

$2,149,661

+ 7.9%

$1,363,333

$1,437,598

+ 5.4%

Average Sales Price*

$549,801

$800,022

+ 45.5%

$567,933

$624,588

+ 10.0%

90.6%

94.1%

+ 3.9%

90.3%

94.0%

+ 4.1%

Percent of Original List Price Received*

92.4%

97.4%

+ 5.4%

93.4%

96.2%

+ 3.0%

Days on Market Until Sale

128

50

- 60.9%

115

86

- 25.2%

Days on Market Until Sale

43

11

- 74.4%

55

56

+ 1.8%

Inventory of Homes for Sale

209

51

- 75.6%

--

--

--

Inventory of Homes for Sale

88

30

- 65.9%

--

--

--

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

22

30

+ 36.4%

394

377

- 4.3%

New Listings

1

6

+ 500.0%

42

48

+ 14.3%

Closed Sales

23

15

- 34.8%

167

309

+ 85.0%

Closed Sales

0

2

--

21

32

+ 52.4%

Median Sales Price*

$450,000

$665,000

+ 47.8%

$575,000

$649,000

+ 12.9%

Median Sales Price*

$0

$600,000

--

$283,000

$442,000

+ 56.2%

Average Sales Price*

$796,522

$814,433

+ 2.2%

$775,350

$783,420

+ 1.0%

Average Sales Price*

$0

$600,000

--

$386,619

$522,262

+ 35.1%

95.8%

93.6%

- 2.3%

92.4%

94.0%

+ 1.7%

Percent of Original List Price Received*

0.0%

100.5%

--

94.9%

97.9%

+ 3.2%

Days on Market Until Sale

140

68

- 51.4%

137

98

- 28.5%

Days on Market Until Sale

0

13

--

82

35

- 57.3%

Inventory of Homes for Sale

176

76

- 56.8%

--

--

--

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.

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 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of December 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of December 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – November 2021

Local Market Update – November 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

57

55

- 3.5%

1,030

932

- 9.5%

New Listings

79

57

- 27.8%

1,372

1,206

- 12.1%

Closed Sales

65

55

- 15.4%

874

884

+ 1.1%

Closed Sales

108

78

- 27.8%

1,175

1,163

- 1.0%

Median Sales Price*

$637,500

$800,000

+ 25.5%

$621,250

$742,250

+ 19.5%

Median Sales Price*

$567,335

$708,000

+ 24.8%

$540,000

$642,879

+ 19.1%

Average Sales Price*

$759,493

$1,147,010

+ 51.0%

$756,427

$926,414

+ 22.5%

Average Sales Price*

$653,432

$800,711

+ 22.5%

$606,056

$725,141

+ 19.6%

97.5%

98.0%

+ 0.5%

95.9%

98.5%

+ 2.7%

Percent of Original List Price Received*

97.5%

100.8%

+ 3.4%

97.4%

100.8%

+ 3.5%

Days on Market Until Sale

36

13

- 63.9%

55

23

- 58.2%

Days on Market Until Sale

42

21

- 50.0%

54

17

- 68.5%

Inventory of Homes for Sale

126

42

- 66.7%

--

--

--

Inventory of Homes for Sale

119

52

- 56.3%

--

--

--

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

November

Year to Date

November

Year to Date

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

34

26

- 23.5%

463

532

+ 14.9%

New Listings

25

26

+ 4.0%

402

354

- 11.9%

Closed Sales

29

40

+ 37.9%

375

517

+ 37.9%

Closed Sales

30

28

- 6.7%

330

323

- 2.1%

Median Sales Price*

$265,000

$312,500

+ 17.9%

$250,000

$310,000

+ 24.0%

Median Sales Price*

$332,500

$411,795

+ 23.8%

$319,750

$349,900

+ 9.4%

Average Sales Price*

$330,012

$382,035

+ 15.8%

$321,131

$418,510

+ 30.3%

Average Sales Price*

$332,375

$422,313

+ 27.1%

$314,038

$356,900

+ 13.6%

97.4%

98.3%

+ 0.9%

96.2%

99.8%

+ 3.7%

Percent of Original List Price Received*

97.6%

100.7%

+ 3.2%

97.2%

100.7%

+ 3.6%

Days on Market Until Sale

28

18

- 35.7%

50

21

- 58.0%

Days on Market Until Sale

38

7

- 81.6%

56

12

- 78.6%

Inventory of Homes for Sale

64

16

- 75.0%

--

--

--

Inventory of Homes for Sale

42

9

- 78.6%

--

--

--

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 $800,000

* 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

$700,000 $300,000 $600,000

Townhouse-Condo Attached All MLS — Upper Mount Pleasant —

All MLS — Upper Mount Pleasant —

$400,000

$600,000

$350,000

$500,000

$300,000

$400,000

$250,000

$300,000

$200,000

$200,000

$150,000

$250,000

$500,000 $400,000

$200,000

$300,000 $150,000

$200,000 $100,000 1-2011

$700,000

Rolling 12-Month Calculation

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of December 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of December 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – November 2021

Local Market Update – November 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

21

20

- 4.8%

290

298

+ 2.8%

New Listings

4

3

- 25.0%

61

60

- 1.6%

Closed Sales

35

19

- 45.7%

264

249

- 5.7%

Closed Sales

8

3

- 62.5%

50

44

- 12.0%

Median Sales Price*

$1,126,000

$1,610,000

+ 43.0%

$1,130,250

$1,625,000

+ 43.8%

Median Sales Price*

$3,109,291

$3,500,000

+ 12.6%

$2,407,500

$3,050,000

+ 26.7%

Average Sales Price*

$1,504,763

$1,931,654

+ 28.4%

$1,368,979

$1,970,616

+ 43.9%

Average Sales Price*

$3,475,010

$3,237,987

- 6.8%

$2,564,452

$3,444,289

+ 34.3%

95.9%

97.6%

+ 1.8%

93.2%

97.4%

+ 4.5%

Percent of Original List Price Received*

95.5%

104.2%

+ 9.1%

92.8%

97.0%

+ 4.5%

Days on Market Until Sale

117

27

- 76.9%

108

29

- 73.1%

Days on Market Until Sale

51

45

- 11.8%

75

70

- 6.7%

Inventory of Homes for Sale

49

31

- 36.7%

--

--

--

Inventory of Homes for Sale

18

8

- 55.6%

--

--

--

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.

* 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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

6

5

- 16.7%

139

105

- 24.5%

New Listings

0

0

--

3

6

+ 100.0%

Closed Sales

15

5

- 66.7%

132

106

- 19.7%

Closed Sales

1

0

- 100.0%

4

4

0.0%

Median Sales Price*

$623,000

$730,000

+ 17.2%

$595,000

$727,500

+ 22.3%

Median Sales Price*

$810,000

$0

- 100.0%

$1,205,000

$580,000

- 51.9%

Average Sales Price*

$743,340

$640,000

- 13.9%

$664,194

$768,031

+ 15.6%

Average Sales Price*

$810,000

$0

- 100.0%

$1,150,558

$821,250

- 28.6%

94.5%

96.0%

+ 1.6%

94.3%

97.8%

+ 3.7%

Percent of Original List Price Received*

79.0%

0.0%

- 100.0%

86.9%

86.6%

- 0.3%

Days on Market Until Sale

119

100

- 16.0%

103

69

- 33.0%

Days on Market Until Sale

0

0

--

265

54

- 79.6%

Inventory of Homes for Sale

36

9

- 75.0%

--

--

--

Inventory of Homes for Sale

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.

Historical Median Sales Price

Historical Median Sales Price

Rolling 12-Month Calculation

Townhouse-Condo Attached

Single-Family Detached

All MLS — Isle of Palms —

$1,750,000

$700,000

$1,250,000

$600,000

$1,000,000

$500,000

$750,000

$400,000

$500,000

$300,000

$250,000

$200,000

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of December 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

Rolling 12-Month Calculation

Townhouse-Condo Attached

Single-Family Detached All MLS — Isle of Palms —

$800,000

$1,500,000

$0 1-2011

* 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.

All MLS — Sullivan's Island —

$4,000,000

$4,000,000

$3,000,000

$3,000,000

$2,000,000

$2,000,000

$1,000,000

$1,000,000

$0 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

All MLS — Sullivan's Island —

$0 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of December 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – November 2021

Local Market Update – November 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

73

41

- 43.8%

813

704

- 13.4%

New Listings

99

122

+ 23.2%

1,704

1,516

- 11.0%

Closed Sales

53

51

- 3.8%

692

658

- 4.9%

Closed Sales

106

122

+ 15.1%

1,465

1,288

- 12.1%

Median Sales Price*

$435,000

$449,900

+ 3.4%

$395,000

$458,000

+ 15.9%

Median Sales Price*

$342,500

$399,500

+ 16.6%

$325,000

$390,000

+ 20.0%

Average Sales Price*

$474,187

$651,893

+ 37.5%

$484,715

$560,077

+ 15.5%

Average Sales Price*

$421,961

$431,032

+ 2.1%

$371,346

$444,869

+ 19.8%

97.6%

99.8%

+ 2.3%

96.5%

99.2%

+ 2.8%

Percent of Original List Price Received*

96.8%

97.8%

+ 1.0%

96.8%

99.0%

+ 2.3%

Days on Market Until Sale

20

22

+ 10.0%

41

20

- 51.2%

Days on Market Until Sale

37

23

- 37.8%

39

18

- 53.8%

Inventory of Homes for Sale

93

33

- 64.5%

--

--

--

Inventory of Homes for Sale

160

84

- 47.5%

--

--

--

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

November

Year to Date

November

Year to Date

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

16

19

+ 18.8%

265

284

+ 7.2%

New Listings

34

29

- 14.7%

514

516

+ 0.4%

Closed Sales

18

24

+ 33.3%

215

273

+ 27.0%

Closed Sales

42

31

- 26.2%

447

483

+ 8.1%

Median Sales Price*

$191,500

$245,750

+ 28.3%

$205,800

$233,000

+ 13.2%

Median Sales Price*

$206,950

$252,000

+ 21.8%

$214,000

$246,800

+ 15.3%

Average Sales Price*

$206,181

$305,908

+ 48.4%

$206,677

$251,558

+ 21.7%

Average Sales Price*

$218,827

$263,885

+ 20.6%

$215,864

$246,115

+ 14.0%

97.0%

99.8%

+ 2.9%

96.7%

99.6%

+ 3.0%

Percent of Original List Price Received*

98.0%

97.6%

- 0.4%

97.4%

99.9%

+ 2.6%

Days on Market Until Sale

27

14

- 48.1%

37

19

- 48.6%

Days on Market Until Sale

24

17

- 29.2%

43

16

- 62.8%

Inventory of Homes for Sale

29

12

- 58.6%

--

--

--

Inventory of Homes for Sale

56

29

- 48.2%

--

--

--

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.

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

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

$275,000

Rolling 12-Month Calculation

All MLS — West Ashley Area —

$400,000

$250,000 $225,000

$225,000 $300,000

$200,000 $300,000

$200,000 $175,000

$250,000 $175,000

$150,000

$200,000

$200,000

$150,000

$125,000 $100,000 1-2011

$275,000

$250,000

$350,000

$400,000

All MLS — West Ashley Area —

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of December 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$150,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$125,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of December 9, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 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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