October 2020 Real Estate Report | The Cassina Group

Page 1

OCTOBER 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 – October 2020

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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

55

45

- 18.2%

418

404

- 3.3%

New Listings

22

35

+ 59.1%

237

292

+ 23.2%

Closed Sales

14

21

+ 50.0%

150

179

+ 19.3%

Closed Sales

12

22

+ 83.3%

163

176

+ 8.0%

Median Sales Price*

$1,423,750

1,310,000

- 8.0%

$1,041,518

$880,000

- 15.5%

Median Sales Price*

$567,500

522,500

- 7.9%

$459,000

$537,500

+ 17.1%

Average Sales Price*

$1,744,179

$1,908,710

+ 9.4%

$1,413,041

$1,274,628

- 9.8%

Average Sales Price*

$635,750

$566,318

- 10.9%

$489,788

$573,388

+ 17.1%

88.3%

90.1%

+ 2.0%

90.0%

90.3%

+ 0.3%

Percent of Original List Price Received*

89.8%

94.4%

+ 5.1%

91.1%

93.4%

+ 2.5%

Days on Market Until Sale

168

115

- 31.5%

94

114

+ 21.3%

Days on Market Until Sale

78

63

- 19.2%

66

56

- 15.2%

Inventory of Homes for Sale

224

210

- 6.3%

--

--

--

Inventory of Homes for Sale

88

81

- 8.0%

--

--

--

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

28

37

+ 32.1%

351

372

+ 6.0%

New Listings

5

6

+ 20.0%

35

41

+ 17.1%

Closed Sales

10

14

+ 40.0%

139

144

+ 3.6%

Closed Sales

1

3

+ 200.0%

17

21

+ 23.5%

Median Sales Price*

$467,500

$440,068

- 5.9%

$600,000

$575,000

- 4.2%

Median Sales Price*

$260,000

$277,500

+ 6.7%

$268,350

$283,000

+ 5.5%

Average Sales Price*

$818,800

$571,653

- 30.2%

$741,412

$771,969

+ 4.1%

Average Sales Price*

$260,000

$388,500

+ 49.4%

$340,815

$386,619

+ 13.4%

86.8%

88.5%

+ 2.0%

91.3%

91.8%

+ 0.5%

Percent of Original List Price Received*

92.9%

94.9%

+ 2.2%

92.5%

94.9%

+ 2.6%

Days on Market Until Sale

69

199

+ 188.4%

92

136

+ 47.8%

Days on Market Until Sale

301

126

- 58.1%

109

82

- 24.8%

Inventory of Homes for Sale

184

178

- 3.3%

--

--

--

Inventory of Homes for Sale

20

21

+ 5.0%

--

--

--

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

1-2012

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 November 16, 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 November 16, 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 – October 2020

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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

86

100

+ 16.3%

1,038

973

- 6.3%

New Listings

120

109

- 9.2%

1,378

1,293

- 6.2%

Closed Sales

48

97

+ 102.1%

688

806

+ 17.2%

Closed Sales

92

135

+ 46.7%

974

1,067

+ 9.5%

Median Sales Price*

$610,500

717,991

+ 17.6%

$568,450

$620,000

+ 9.1%

Median Sales Price*

$530,000

565,000

+ 6.6%

$515,000

$536,989

+ 4.3%

Average Sales Price*

$734,566

$867,462

+ 18.1%

$689,103

$755,906

+ 9.7%

Average Sales Price*

$583,119

$641,120

+ 9.9%

$570,060

$601,602

+ 5.5%

93.6%

96.2%

+ 2.8%

94.4%

95.7%

+ 1.4%

Percent of Original List Price Received*

96.4%

97.9%

+ 1.6%

96.5%

97.4%

+ 0.9%

Days on Market Until Sale

71

58

- 18.3%

62

56

- 9.7%

Days on Market Until Sale

69

34

- 50.7%

72

55

- 23.6%

Inventory of Homes for Sale

301

141

- 53.2%

--

--

--

Inventory of Homes for Sale

354

135

- 61.9%

--

--

--

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

October

Year to Date

October

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

35

37

+ 5.7%

356

429

+ 20.5%

New Listings

29

29

0.0%

390

377

- 3.3%

Closed Sales

23

38

+ 65.2%

279

346

+ 24.0%

Closed Sales

20

31

+ 55.0%

287

298

+ 3.8%

Median Sales Price*

$265,000

$268,750

+ 1.4%

$249,900

$250,000

+ 0.0%

Median Sales Price*

$235,000

$352,500

+ 50.0%

$304,900

$315,900

+ 3.6%

Average Sales Price*

$349,152

$374,072

+ 7.1%

$347,622

$320,386

- 7.8%

Average Sales Price*

$259,985

$339,677

+ 30.7%

$292,620

$311,641

+ 6.5%

94.1%

96.0%

+ 2.0%

95.8%

96.1%

+ 0.3%

Percent of Original List Price Received*

96.0%

97.0%

+ 1.0%

96.3%

97.1%

+ 0.8%

Days on Market Until Sale

36

59

+ 63.9%

53

51

- 3.8%

Days on Market Until Sale

79

77

- 2.5%

63

58

- 7.9%

Inventory of Homes for Sale

100

57

- 43.0%

--

--

--

Inventory of Homes for Sale

99

35

- 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 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 November 16, 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 November 16, 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 – October 2020

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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%

265

269

+ 1.5%

New Listings

4

6

+ 50.0%

57

58

+ 1.8%

Closed Sales

9

34

+ 277.8%

152

229

+ 50.7%

Closed Sales

4

5

+ 25.0%

41

42

+ 2.4%

Median Sales Price*

$1,112,000

1,115,063

+ 0.3%

$1,078,750

$1,134,500

+ 5.2%

Median Sales Price*

$3,250,000

3,100,000

- 4.6%

$2,100,000

$2,247,500

+ 7.0%

Average Sales Price*

$1,265,778

$1,275,832

+ 0.8%

$1,417,781

$1,348,226

- 4.9%

Average Sales Price*

$3,175,000

$2,997,000

- 5.6%

$2,325,802

$2,391,012

+ 2.8%

90.4%

94.5%

+ 4.5%

91.6%

92.8%

+ 1.3%

Percent of Original List Price Received*

85.5%

98.9%

+ 15.7%

88.0%

92.3%

+ 4.9%

Days on Market Until Sale

83

94

+ 13.3%

103

106

+ 2.9%

Days on Market Until Sale

211

19

- 91.0%

109

79

- 27.5%

Inventory of Homes for Sale

146

47

- 67.8%

--

--

--

Inventory of Homes for Sale

23

18

- 21.7%

--

--

--

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

16

8

- 50.0%

129

133

+ 3.1%

New Listings

0

0

--

2

3

+ 50.0%

Closed Sales

6

14

+ 133.3%

72

117

+ 62.5%

Closed Sales

0

0

--

3

3

0.0%

Median Sales Price*

$501,500

$625,000

+ 24.6%

$487,000

$585,000

+ 20.1%

Median Sales Price*

$0

$0

--

$1,735,000

$1,600,000

- 7.8%

Average Sales Price*

$515,750

$687,286

+ 33.3%

$558,949

$654,047

+ 17.0%

Average Sales Price*

$0

$0

--

$1,397,500

$1,264,077

- 9.5%

95.6%

96.0%

+ 0.4%

94.8%

94.3%

- 0.5%

Percent of Original List Price Received*

0.0%

0.0%

--

96.5%

89.5%

- 7.3%

Days on Market Until Sale

99

50

- 49.5%

103

101

- 1.9%

Days on Market Until Sale

0

0

--

170

353

+ 107.6%

Inventory of Homes for Sale

81

40

- 50.6%

--

--

--

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 November 16, 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 November 16, 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 – October 2020

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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

81

74

- 8.6%

894

740

- 17.2%

New Listings

144

136

- 5.6%

1,587

1,614

+ 1.7%

Closed Sales

50

69

+ 38.0%

612

639

+ 4.4%

Closed Sales

102

151

+ 48.0%

1,108

1,362

+ 22.9%

Median Sales Price*

$394,000

422,000

+ 7.1%

$362,500

$393,235

+ 8.5%

Median Sales Price*

$312,500

325,000

+ 4.0%

$317,000

$325,000

+ 2.5%

Average Sales Price*

$513,540

$606,057

+ 18.0%

$448,910

$485,588

+ 8.2%

Average Sales Price*

$351,867

$384,466

+ 9.3%

$343,279

$368,139

+ 7.2%

95.5%

97.4%

+ 2.0%

95.7%

96.4%

+ 0.7%

Percent of Original List Price Received*

94.4%

97.1%

+ 2.9%

95.5%

96.8%

+ 1.4%

Days on Market Until Sale

38

43

+ 13.2%

48

43

- 10.4%

Days on Market Until Sale

65

29

- 55.4%

49

39

- 20.4%

Inventory of Homes for Sale

225

89

- 60.4%

--

--

--

Inventory of Homes for Sale

370

150

- 59.5%

--

--

--

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

October

Year to Date

October

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

17

21

+ 23.5%

255

249

- 2.4%

New Listings

34

48

+ 41.2%

533

481

- 9.8%

Closed Sales

13

31

+ 138.5%

212

197

- 7.1%

Closed Sales

29

37

+ 27.6%

413

403

- 2.4%

Median Sales Price*

$228,000

$205,000

- 10.1%

$210,500

$205,800

- 2.2%

Median Sales Price*

$202,800

$225,000

+ 10.9%

$209,990

$215,000

+ 2.4%

Average Sales Price*

$248,523

$216,995

- 12.7%

$224,076

$206,722

- 7.7%

Average Sales Price*

$207,019

$214,640

+ 3.7%

$210,473

$215,525

+ 2.4%

96.6%

95.2%

- 1.4%

97.4%

96.6%

- 0.8%

Percent of Original List Price Received*

95.9%

97.7%

+ 1.9%

97.1%

97.3%

+ 0.2%

Days on Market Until Sale

44

31

- 29.5%

38

37

- 2.6%

Days on Market Until Sale

66

28

- 57.6%

45

46

+ 2.2%

Inventory of Homes for Sale

57

36

- 36.8%

--

--

--

Inventory of Homes for Sale

104

59

- 43.3%

--

--

--

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 —

$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

$350,000

$300,000

All MLS — West Ashley Area —

$200,000

$180,000 $250,000

$160,000

$200,000

$150,000 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 November 16, 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

$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 November 16, 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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