November 2023 Real Estate Report | The Cassina Group

NOVEMBER 2023

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 2023

Local Market Update – November 2023

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

2022

2023

Percent Change

2022

2023

Percent Change

Key Metrics

2022

2023

Percent Change

2022

2023

Percent Change

New Listings

22

19

- 13.6%

288

246

- 14.6%

New Listings

14

13

- 7.1%

231

164

- 29.0%

Closed Sales

12

18

+ 50.0%

234

167

- 28.6%

Closed Sales

10

10

0.0%

188

125

- 33.5%

Median Sales Price*

$1,790,850

$1,610,000

- 10.1%

$1,307,500

$1,530,000

+ 17.0%

Median Sales Price*

$602,500

$650,000

+ 7.9%

$650,000

$785,000

+ 20.8%

Average Sales Price*

$2,069,100

$2,021,111

- 2.3%

$1,814,512

$2,055,454

+ 13.3%

Average Sales Price*

$787,077

$866,550

+ 10.1%

$755,506

$867,886

+ 14.9%

96.9%

95.6%

- 1.3%

97.2%

93.9%

- 3.4%

Percent of Original List Price Received*

97.8%

93.4%

- 4.5%

97.6%

96.2%

- 1.4%

Days on Market Until Sale

23

29

+ 26.1%

44

47

+ 6.8%

Days on Market Until Sale

35

17

- 51.4%

32

26

- 18.8%

Inventory of Homes for Sale

53

52

- 1.9%

--

--

--

Inventory of Homes for Sale

37

32

- 13.5%

--

--

--

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

2022

2023

Percent Change

2022

2023

Percent Change

Key Metrics

2022

2023

Percent Change

2022

2023

Percent Change

New Listings

17

22

+ 29.4%

294

259

- 11.9%

New Listings

3

3

0.0%

36

28

- 22.2%

Closed Sales

14

10

- 28.6%

243

160

- 34.2%

Closed Sales

2

0

- 100.0%

29

21

- 27.6%

Median Sales Price*

$550,000

$585,000

+ 6.4%

$655,000

$722,500

+ 10.3%

Median Sales Price*

$557,500

$0

- 100.0%

$425,000

$530,000

+ 24.7%

Average Sales Price*

$832,972

$745,190

- 10.5%

$897,326

$851,605

- 5.1%

Average Sales Price*

$557,500

$0

- 100.0%

$475,925

$582,810

+ 22.5%

Percent of Original List Price Received*

96.2%

95.5%

- 0.7%

97.2%

95.7%

- 1.5%

Percent of Original List Price Received*

94.0%

0.0%

- 100.0%

96.3%

103.3%

+ 7.3%

Days on Market Until Sale

31

80

+ 158.1%

56

39

- 30.4%

Days on Market Until Sale

19

0

- 100.0%

58

24

- 58.6%

Inventory of Homes for Sale

52

75

+ 44.2%

--

--

--

Inventory of Homes for Sale

7

5

- 28.6%

--

--

--

* 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 —

$800,000

$900,000

$1,500,000

$700,000

$800,000

$1,250,000

$600,000

$700,000

$1,000,000

$500,000

$600,000

$750,000

$400,000

$500,000

$500,000

$300,000

$400,000

$250,000

$200,000

$300,000

Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —

All MLS — Upper Charleston Peninsula —

$600,000

$500,000

$0 1-2013

1-2015

1-2017

1-2019

1-2021

1-2023

$100,000 1-2013

1-2015

1-2017

1-2019

1-2021

1-2023

Current as of December 8, 2023. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$200,000 1-2013

$400,000

$300,000

$200,000

1-2015

1-2017

1-2019

1-2021

1-2023

$100,000 1-2013

1-2015

1-2017

1-2019

1-2021

1-2023

Current as of December 8, 2023. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

Local Market Update – November 2023

Local Market Update – November 2023

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

2022

2023

Percent Change

2022

2023

Percent Change

Key Metrics

2022

2023

Percent Change

2022

2023

Percent Change

New Listings

57

48

- 15.8%

803

624

- 22.3%

New Listings

63

64

+ 1.6%

1,095

888

- 18.9%

Closed Sales

41

41

0.0%

646

462

- 28.5%

Closed Sales

48

49

+ 2.1%

855

712

- 16.7%

Median Sales Price*

$1,150,000

$1,160,000

+ 0.9%

$899,500

$950,000

+ 5.6%

Median Sales Price*

$779,296

$900,410

+ 15.5%

$803,000

$905,000

+ 12.7%

Average Sales Price*

$1,333,088

$1,301,692

- 2.4%

$1,185,400

$1,326,758

+ 11.9%

Average Sales Price*

$838,120

$1,040,058

+ 24.1%

$911,101

$1,003,306

+ 10.1%

93.8%

94.5%

+ 0.7%

98.9%

95.9%

- 3.0%

Percent of Original List Price Received*

93.0%

97.5%

+ 4.8%

99.7%

97.6%

- 2.1%

Days on Market Until Sale

36

18

- 50.0%

15

25

+ 66.7%

Days on Market Until Sale

49

30

- 38.8%

15

30

+ 100.0%

Inventory of Homes for Sale

85

75

- 11.8%

--

--

--

Inventory of Homes for Sale

158

110

- 30.4%

--

--

--

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

November

Year to Date

November

Year to Date

Key Metrics

2022

2023

Percent Change

2022

2023

Percent Change

Key Metrics

2022

2023

Percent Change

2022

2023

Percent Change

New Listings

16

21

+ 31.3%

346

285

- 17.6%

New Listings

18

15

- 16.7%

314

252

- 19.7%

Closed Sales

16

26

+ 62.5%

307

237

- 22.8%

Closed Sales

12

17

+ 41.7%

277

239

- 13.7%

Median Sales Price*

$413,500

$465,000

+ 12.5%

$395,000

$420,000

+ 6.3%

Median Sales Price*

$374,000

$592,500

+ 58.4%

$417,885

$545,000

+ 30.4%

Average Sales Price*

$497,781

$631,822

+ 26.9%

$520,011

$550,346

+ 5.8%

Average Sales Price*

$444,687

$604,718

+ 36.0%

$429,806

$522,995

+ 21.7%

Percent of Original List Price Received*

96.3%

95.8%

- 0.5%

100.1%

97.9%

- 2.2%

Percent of Original List Price Received*

98.1%

97.7%

- 0.4%

101.0%

98.6%

- 2.4%

Days on Market Until Sale

23

27

+ 17.4%

13

20

+ 53.8%

Days on Market Until Sale

25

30

+ 20.0%

14

23

+ 64.3%

Inventory of Homes for Sale

30

27

- 10.0%

--

--

--

Inventory of Homes for Sale

31

17

- 45.2%

--

--

--

* 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 1-2013

$400,000

$200,000

1-2015

1-2017

1-2019

1-2021

1-2023

$100,000 1-2013

$200,000

1-2015

1-2017

1-2019

1-2021

1-2023

Current as of December 8, 2023. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$200,000 1-2013

1-2015

1-2017

1-2019

1-2021

1-2023

$100,000 1-2013

1-2015

1-2017

1-2019

1-2021

1-2023

Current as of December 8, 2023. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

Local Market Update – November 2023

Local Market Update – November 2023

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

2022

2023

Percent Change

2022

2023

Percent Change

Key Metrics

2022

2023

Percent Change

2022

2023

Percent Change

New Listings

15

13

- 13.3%

215

187

- 13.0%

New Listings

3

2

- 33.3%

53

52

- 1.9%

Closed Sales

10

7

- 30.0%

152

118

- 22.4%

Closed Sales

0

5

--

26

38

+ 46.2%

Median Sales Price*

$2,492,500

$2,825,000

+ 13.3%

$2,000,000

$2,175,000

+ 8.7%

Median Sales Price*

$0

$2,900,000

--

$4,687,500

$3,850,000

- 17.9%

Average Sales Price*

$2,668,500

$2,556,714

- 4.2%

$2,358,171

$2,685,857

+ 13.9%

Average Sales Price*

$0

$2,980,000

--

$4,649,966

$4,293,737

- 7.7%

90.7%

85.3%

- 6.0%

96.6%

92.6%

- 4.1%

Percent of Original List Price Received*

0.0%

90.6%

--

94.7%

92.9%

- 1.9%

Days on Market Until Sale

88

125

+ 42.0%

30

68

+ 126.7%

Days on Market Until Sale

0

36

--

32

72

+ 125.0%

Inventory of Homes for Sale

48

56

+ 16.7%

--

--

--

Inventory of Homes for Sale

18

16

- 11.1%

--

--

--

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

November

Year to Date

November

Year to Date

Key Metrics

2022

2023

Percent Change

2022

2023

Percent Change

Key Metrics

2022

2023

Percent Change

2022

2023

Percent Change

New Listings

3

8

+ 166.7%

110

111

+ 0.9%

New Listings

0

0

--

2

0

- 100.0%

Closed Sales

5

2

- 60.0%

92

80

- 13.0%

Closed Sales

0

0

--

4

1

- 75.0%

Median Sales Price*

$875,000

$1,424,500

+ 62.8%

$850,000

$917,500

+ 7.9%

Median Sales Price*

$0

$0

--

$1,812,500

$1,375,000

- 24.1%

Average Sales Price*

$970,800

$1,424,500

+ 46.7%

$980,901

$1,125,631

+ 14.8%

Average Sales Price*

$0

$0

--

$1,678,125

$1,375,000

- 18.1%

Percent of Original List Price Received*

91.8%

97.1%

+ 5.8%

97.3%

96.8%

- 0.5%

Percent of Original List Price Received*

0.0%

0.0%

--

90.9%

98.2%

+ 8.0%

Days on Market Until Sale

71

8

- 88.7%

37

34

- 8.1%

Days on Market Until Sale

0

0

--

49

38

- 22.4%

Inventory of Homes for Sale

14

25

+ 78.6%

--

--

--

Inventory of Homes for Sale

0

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 — Isle of Palms —

$2,500,000

$2,000,000

Townhouse-Condo Attached

Single-Family Detached All MLS — Isle of Palms —

$1,000,000

All MLS — Sullivan's Island —

$6,000,000

All MLS — Sullivan's Island —

$4,000,000

$5,000,000

$800,000

$3,000,000 $4,000,000 $1,500,000

$600,000 $3,000,000

$1,000,000

$2,000,000

$400,000 $2,000,000

$500,000

$0 1-2013

$1,000,000

$200,000

1-2015

1-2017

1-2019

1-2021

1-2023

$0 1-2013

$1,000,000

1-2015

1-2017

1-2019

1-2021

1-2023

Current as of December 8, 2023. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$0 1-2013

1-2015

1-2017

1-2019

1-2021

1-2023

$0 1-2013

1-2015

1-2017

1-2019

1-2021

1-2023

Current as of December 8, 2023. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

Local Market Update – November 2023

Local Market Update – November 2023

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

2022

2023

Percent Change

2022

2023

Percent Change

Key Metrics

2022

2023

Percent Change

2022

2023

Percent Change

New Listings

38

37

- 2.6%

635

496

- 21.9%

New Listings

77

72

- 6.5%

1,397

1,121

- 19.8%

Closed Sales

44

18

- 59.1%

526

393

- 25.3%

Closed Sales

70

67

- 4.3%

1,231

957

- 22.3%

Median Sales Price*

$567,500

$600,000

+ 5.7%

$565,000

$610,369

+ 8.0%

Median Sales Price*

$475,681

$535,000

+ 12.5%

$449,900

$492,000

+ 9.4%

Average Sales Price*

$672,475

$754,944

+ 12.3%

$642,706

$737,288

+ 14.7%

Average Sales Price*

$544,592

$580,284

+ 6.6%

$508,393

$551,565

+ 8.5%

Percent of Original List Price Received*

98.5%

97.0%

- 1.5%

99.9%

97.1%

- 2.8%

Percent of Original List Price Received*

96.1%

97.0%

+ 0.9%

100.0%

97.9%

- 2.1%

Days on Market Until Sale

16

21

+ 31.3%

15

23

+ 53.3%

Days on Market Until Sale

21

28

+ 33.3%

14

22

+ 57.1%

Inventory of Homes for Sale

66

67

+ 1.5%

--

--

--

Inventory of Homes for Sale

147

121

- 17.7%

--

--

--

* 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

2022

2023

Percent Change

2022

2023

Percent Change

Key Metrics

2022

2023

Percent Change

2022

2023

Percent Change

New Listings

12

13

+ 8.3%

230

167

- 27.4%

New Listings

24

21

- 12.5%

403

345

- 14.4%

Closed Sales

9

7

- 22.2%

219

144

- 34.2%

Closed Sales

18

19

+ 5.6%

381

264

- 30.7%

Median Sales Price*

$261,000

$325,000

+ 24.5%

$286,500

$315,000

+ 9.9%

Median Sales Price*

$365,000

$327,000

- 10.4%

$319,500

$322,000

+ 0.8%

Average Sales Price*

$292,322

$345,357

+ 18.1%

$302,240

$332,311

+ 9.9%

Average Sales Price*

$348,806

$331,275

- 5.0%

$310,300

$328,925

+ 6.0%

Percent of Original List Price Received*

98.4%

98.2%

- 0.2%

101.4%

99.7%

- 1.7%

Percent of Original List Price Received*

97.6%

99.5%

+ 1.9%

101.6%

98.5%

- 3.1%

Days on Market Until Sale

14

33

+ 135.7%

10

12

+ 20.0%

Days on Market Until Sale

14

17

+ 21.4%

11

17

+ 54.5%

Inventory of Homes for Sale

11

17

+ 54.5%

--

--

--

Inventory of Homes for Sale

33

38

+ 15.2%

--

--

--

* 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 Townhouse-Condo Attached

Single-Family Detached

All MLS — James Island —

$700,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

$400,000

All MLS — West Ashley Area —

$600,000

$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 1-2013

$200,000 $300,000

$150,000

1-2015

1-2017

1-2019

1-2021

1-2023

$100,000 1-2013

$150,000

1-2015

1-2017

1-2019

1-2021

1-2023

Current as of December 8, 2023. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2023 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$200,000 1-2013

1-2015

1-2017

1-2019

1-2021

1-2023

$100,000 1-2013

1-2015

1-2017

1-2019

1-2021

1-2023

Current as of December 8, 2023. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®.

Report © 2023 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 | CassinaGroup.com

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