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OCTOBER 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 – October 2019

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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

52

55

+ 5.8%

354

418

+ 18.1%

New Listings

25

22

- 12.0%

236

237

+ 0.4%

Closed Sales

11

14

+ 27.3%

179

150

- 16.2%

Closed Sales

10

12

+ 20.0%

141

163

+ 15.6%

Median Sales Price*

$950,000

$1,423,750

+ 49.9%

$985,000

$1,041,518

+ 5.7%

Median Sales Price*

$366,000

$567,500

+ 55.1%

$490,000

$459,000

- 6.3%

Average Sales Price*

$1,108,000

$1,744,179

+ 57.4%

$1,326,292

$1,413,025

+ 6.5%

Average Sales Price*

$406,035

$635,750

+ 56.6%

$507,197

$489,788

- 3.4%

90.2%

88.3%

- 2.1%

91.8%

90.0%

- 2.0%

Percent of Original List Price Received*

100.2%

89.8%

- 10.4%

94.1%

91.1%

- 3.2%

Days on Market Until Sale

64

168

+ 162.5%

88

94

+ 6.8%

Days on Market Until Sale

45

78

+ 73.3%

52

66

+ 26.9%

Inventory of Homes for Sale

200

207

+ 3.5%

--

--

--

Inventory of Homes for Sale

97

73

- 24.7%

--

--

--

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

October

Year to Date

October

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

37

29

- 21.6%

365

352

- 3.6%

New Listings

4

5

+ 25.0%

48

35

- 27.1%

Closed Sales

12

9

- 25.0%

144

139

- 3.5%

Closed Sales

2

1

- 50.0%

25

17

- 32.0%

Median Sales Price*

$697,500

$512,500

- 26.5%

$579,000

$607,500

+ 4.9%

Median Sales Price*

$423,250

$260,000

- 38.6%

$375,000

$268,350

- 28.4%

Average Sales Price*

$1,008,042

$868,667

- 13.8%

$759,902

$747,023

- 1.7%

Average Sales Price*

$423,250

$260,000

- 38.6%

$459,122

$340,815

- 25.8%

90.5%

85.5%

- 5.5%

94.0%

91.2%

- 3.0%

Percent of Original List Price Received*

95.8%

92.9%

- 3.0%

95.5%

92.5%

- 3.1%

Days on Market Until Sale

61

76

+ 24.6%

84

94

+ 11.9%

Days on Market Until Sale

24

301

+ 1,154.2%

38

109

+ 186.8%

Inventory of Homes for Sale

177

172

- 2.8%

--

--

--

Inventory of Homes for Sale

19

19

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 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

1-2011

1-2013

1-2015

1-2017

1-2019

$100,000 1-2009

$200,000

$200,000

$200,000

$200,000 $0 1-2009

All MLS — Upper Charleston Peninsula —

1-2011

1-2013

1-2015

1-2017

1-2019

Current as of November 8, 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 November 8, 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 – October 2019

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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

92

85

- 7.6%

989

1,039

+ 5.1%

New Listings

127

121

- 4.7%

1,346

1,377

+ 2.3%

Closed Sales

53

45

- 15.1%

703

684

- 2.7%

Closed Sales

61

93

+ 52.5%

827

973

+ 17.7%

Median Sales Price*

$535,000

$590,000

+ 10.3%

$568,065

$565,715

- 0.4%

Median Sales Price*

$538,091

$530,000

- 1.5%

$520,010

$515,000

- 1.0%

Average Sales Price*

$651,570

$672,258

+ 3.2%

$670,830

$684,628

+ 2.1%

Average Sales Price*

$607,334

$582,851

- 4.0%

$573,603

$570,044

- 0.6%

95.5%

93.7%

- 1.9%

95.4%

94.4%

- 1.0%

Percent of Original List Price Received*

95.8%

96.4%

+ 0.6%

96.4%

96.5%

+ 0.1%

Days on Market Until Sale

44

65

+ 47.7%

50

61

+ 22.0%

Days on Market Until Sale

56

68

+ 21.4%

74

72

- 2.7%

Inventory of Homes for Sale

272

267

- 1.8%

--

--

--

Inventory of Homes for Sale

455

314

- 31.0%

--

--

--

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

October

Year to Date

October

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

40

35

- 12.5%

411

356

- 13.4%

New Listings

40

29

- 27.5%

428

390

- 8.9%

Closed Sales

22

22

0.0%

303

278

- 8.3%

Closed Sales

26

20

- 23.1%

305

287

- 5.9%

Median Sales Price*

$237,385

$253,750

+ 6.9%

$240,000

$249,450

+ 3.9%

Median Sales Price*

$337,438

$235,000

- 30.4%

$313,000

$304,900

- 2.6%

Average Sales Price*

$318,453

$352,886

+ 10.8%

$327,387

$347,916

+ 6.3%

Average Sales Price*

$316,803

$259,985

- 17.9%

$298,719

$292,620

- 2.0%

96.7%

94.3%

- 2.5%

96.8%

95.8%

- 1.0%

Percent of Original List Price Received*

97.7%

96.0%

- 1.7%

97.5%

96.3%

- 1.2%

Days on Market Until Sale

27

35

+ 29.6%

44

53

+ 20.5%

Days on Market Until Sale

29

79

+ 172.4%

48

63

+ 31.3%

Inventory of Homes for Sale

100

86

- 14.0%

--

--

--

Inventory of Homes for Sale

110

92

- 16.4%

--

--

--

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 $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 1-2009

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 November 8, 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 November 8, 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 – October 2019

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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

19

- 44.1%

255

265

+ 3.9%

New Listings

8

4

- 50.0%

80

57

- 28.8%

Closed Sales

17

9

- 47.1%

163

152

- 6.7%

Closed Sales

2

4

+ 100.0%

54

41

- 24.1%

Median Sales Price*

$763,500

$1,112,000

+ 45.6%

$925,000

$1,078,750

+ 16.6%

Median Sales Price*

$2,157,500

$3,250,000

+ 50.6%

$1,981,800

$2,100,000

+ 6.0%

Average Sales Price*

$1,167,676

$1,265,778

+ 8.4%

$1,251,797

$1,417,781

+ 13.3%

Average Sales Price*

$2,157,500

$3,175,000

+ 47.2%

$2,182,122

$2,325,802

+ 6.6%

91.3%

90.4%

- 1.0%

91.9%

91.6%

- 0.3%

Percent of Original List Price Received*

86.7%

85.5%

- 1.4%

93.7%

88.0%

- 6.1%

Days on Market Until Sale

101

83

- 17.8%

116

103

- 11.2%

Days on Market Until Sale

86

211

+ 145.3%

81

109

+ 34.6%

Inventory of Homes for Sale

139

129

- 7.2%

--

--

--

Inventory of Homes for Sale

26

21

- 19.2%

--

--

--

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

October

Year to Date

October

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

10

16

+ 60.0%

114

129

+ 13.2%

New Listings

0

0

--

6

2

- 66.7%

Closed Sales

7

6

- 14.3%

82

72

- 12.2%

Closed Sales

0

0

--

2

3

+ 50.0%

Median Sales Price*

$640,000

$501,500

- 21.6%

$545,000

$487,000

- 10.6%

Median Sales Price*

$0

$0

--

$487,500

$1,735,000

+ 255.9%

Average Sales Price*

$571,929

$515,750

- 9.8%

$590,301

$558,949

- 5.3%

Average Sales Price*

$0

$0

--

$487,500

$1,397,500

+ 186.7%

95.0%

95.6%

+ 0.6%

94.3%

94.8%

+ 0.5%

Percent of Original List Price Received*

0.0%

0.0%

--

97.5%

96.5%

- 1.0%

Days on Market Until Sale

73

99

+ 35.6%

94

103

+ 9.6%

Days on Market Until Sale

0

0

--

13

170

+ 1,207.7%

Inventory of Homes for Sale

65

80

+ 23.1%

--

--

--

Inventory of Homes for Sale

4

1

- 75.0%

--

--

--

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 November 8, 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 November 8, 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 – October 2019

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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

74

83

+ 12.2%

814

896

+ 10.1%

New Listings

172

140

- 18.6%

1,582

1,585

+ 0.2%

Closed Sales

59

50

- 15.3%

618

611

- 1.1%

Closed Sales

98

102

+ 4.1%

1,179

1,107

- 6.1%

Median Sales Price*

$380,000

$394,000

+ 3.7%

$372,000

$362,500

- 2.6%

Median Sales Price*

$302,250

$312,500

+ 3.4%

$309,990

$317,000

+ 2.3%

Average Sales Price*

$414,855

$513,540

+ 23.8%

$436,619

$448,886

+ 2.8%

Average Sales Price*

$311,239

$351,867

+ 13.1%

$344,671

$343,350

- 0.4%

95.3%

95.5%

+ 0.2%

96.9%

95.7%

- 1.2%

Percent of Original List Price Received*

94.1%

94.4%

+ 0.3%

96.5%

95.5%

- 1.0%

Days on Market Until Sale

60

38

- 36.7%

40

48

+ 20.0%

Days on Market Until Sale

51

65

+ 27.5%

39

49

+ 25.6%

Inventory of Homes for Sale

221

195

- 11.8%

--

--

--

Inventory of Homes for Sale

391

331

- 15.3%

--

--

--

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

October

Year to Date

October

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

20

17

- 15.0%

224

255

+ 13.8%

New Listings

40

34

- 15.0%

465

533

+ 14.6%

Closed Sales

18

13

- 27.8%

179

212

+ 18.4%

Closed Sales

25

29

+ 16.0%

379

413

+ 9.0%

Median Sales Price*

$171,500

$228,000

+ 32.9%

$195,000

$210,500

+ 7.9%

Median Sales Price*

$210,000

$202,800

- 3.4%

$185,000

$209,990

+ 13.5%

Average Sales Price*

$179,339

$248,523

+ 38.6%

$195,530

$224,076

+ 14.6%

Average Sales Price*

$208,885

$207,019

- 0.9%

$185,541

$210,553

+ 13.5%

95.5%

96.6%

+ 1.2%

96.6%

97.4%

+ 0.8%

Percent of Original List Price Received*

96.1%

95.9%

- 0.2%

97.4%

97.1%

- 0.3%

Days on Market Until Sale

51

44

- 13.7%

46

38

- 17.4%

Days on Market Until Sale

41

66

+ 61.0%

37

45

+ 21.6%

Inventory of Homes for Sale

59

52

- 11.9%

--

--

--

Inventory of Homes for Sale

101

86

- 14.9%

--

--

--

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.

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

$350,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

$220,000

All MLS — West Ashley Area —

$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

$220,000

$200,000

$300,000

$180,000

$250,000

$160,000

$200,000

$150,000 1-2009

All MLS — West Ashley Area —

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 November 8, 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.

$175,000 1-2009

$140,000

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 November 8, 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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October 2019 Real Estate Report | Presented by The Cassina Group  

October 2019 Real Estate Report | Presented by The Cassina Group  

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