October 2021 Real Estate Report | The Cassina Group

Page 1

OCTOBER 2021

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 2021

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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

45

23

- 48.9%

403

362

- 10.2%

New Listings

36

21

- 41.7%

293

241

- 17.7%

Closed Sales

21

26

+ 23.8%

179

340

+ 89.9%

Closed Sales

22

20

- 9.1%

179

217

+ 21.2%

Median Sales Price*

$1,310,000

$1,322,500

+ 1.0%

$895,000

$1,000,163

+ 11.8%

Median Sales Price*

$522,500

$563,750

+ 7.9%

$526,000

$587,000

+ 11.6%

Average Sales Price*

$1,908,710

$1,421,389

- 25.5%

$1,279,013

$1,397,806

+ 9.3%

Average Sales Price*

$566,318

$615,545

+ 8.7%

$569,655

$614,887

+ 7.9%

90.1%

91.8%

+ 1.9%

90.3%

94.0%

+ 4.1%

Percent of Original List Price Received*

94.4%

96.1%

+ 1.8%

93.5%

96.1%

+ 2.8%

Days on Market Until Sale

115

75

- 34.8%

113

88

- 22.1%

Days on Market Until Sale

63

22

- 65.1%

56

59

+ 5.4%

Inventory of Homes for Sale

218

64

- 70.6%

--

--

--

Inventory of Homes for Sale

88

37

- 58.0%

--

--

--

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

37

23

- 37.8%

372

347

- 6.7%

New Listings

6

4

- 33.3%

41

42

+ 2.4%

Closed Sales

14

24

+ 71.4%

144

294

+ 104.2%

Closed Sales

3

2

- 33.3%

21

30

+ 42.9%

Median Sales Price*

$440,068

$765,000

+ 73.8%

$575,000

$644,500

+ 12.1%

Median Sales Price*

$277,500

$466,841

+ 68.2%

$283,000

$442,000

+ 56.2%

Average Sales Price*

$571,653

$780,220

+ 36.5%

$771,969

$781,838

+ 1.3%

Average Sales Price*

$388,500

$466,841

+ 20.2%

$386,619

$517,079

+ 33.7%

88.5%

91.7%

+ 3.6%

91.8%

94.1%

+ 2.5%

Percent of Original List Price Received*

94.9%

95.8%

+ 0.9%

94.9%

97.7%

+ 3.0%

Days on Market Until Sale

199

136

- 31.7%

136

100

- 26.5%

Days on Market Until Sale

126

14

- 88.9%

82

36

- 56.1%

Inventory of Homes for Sale

185

87

- 53.0%

--

--

--

Inventory of Homes for Sale

22

7

- 68.2%

--

--

--

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 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 November 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 November 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 – October 2021

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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

100

75

- 25.0%

973

877

- 9.9%

New Listings

109

86

- 21.1%

1,293

1,149

- 11.1%

Closed Sales

97

76

- 21.6%

809

828

+ 2.3%

Closed Sales

134

104

- 22.4%

1,067

1,084

+ 1.6%

Median Sales Price*

$717,991

$789,250

+ 9.9%

$620,000

$740,000

+ 19.4%

Median Sales Price*

$565,000

$699,183

+ 23.7%

$536,989

$635,489

+ 18.3%

Average Sales Price*

$867,462

$1,076,297

+ 24.1%

$756,181

$912,397

+ 20.7%

Average Sales Price*

$638,240

$791,434

+ 24.0%

$601,261

$719,753

+ 19.7%

96.2%

96.8%

+ 0.6%

95.7%

98.6%

+ 3.0%

Percent of Original List Price Received*

97.9%

100.2%

+ 2.3%

97.4%

100.7%

+ 3.4%

Days on Market Until Sale

58

22

- 62.1%

56

23

- 58.9%

Days on Market Until Sale

35

20

- 42.9%

55

17

- 69.1%

Inventory of Homes for Sale

160

49

- 69.4%

--

--

--

Inventory of Homes for Sale

145

68

- 53.1%

--

--

--

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

October

Year to Date

October

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

37

28

- 24.3%

429

506

+ 17.9%

New Listings

29

34

+ 17.2%

377

328

- 13.0%

Closed Sales

38

42

+ 10.5%

346

476

+ 37.6%

Closed Sales

32

30

- 6.3%

300

294

- 2.0%

Median Sales Price*

$268,750

$365,000

+ 35.8%

$250,000

$310,000

+ 24.0%

Median Sales Price*

$356,245

$398,946

+ 12.0%

$317,450

$344,000

+ 8.4%

Average Sales Price*

$374,072

$558,799

+ 49.4%

$320,386

$420,858

+ 31.4%

Average Sales Price*

$341,657

$393,080

+ 15.1%

$312,204

$350,942

+ 12.4%

96.0%

100.1%

+ 4.3%

96.1%

99.9%

+ 4.0%

Percent of Original List Price Received*

97.1%

100.5%

+ 3.5%

97.2%

100.7%

+ 3.6%

Days on Market Until Sale

59

14

- 76.3%

51

21

- 58.8%

Days on Market Until Sale

74

16

- 78.4%

58

13

- 77.6%

Inventory of Homes for Sale

62

15

- 75.8%

--

--

--

Inventory of Homes for Sale

45

19

- 57.8%

--

--

--

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.

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

$700,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Mount Pleasant —

$600,000

$300,000 $600,000

All MLS — Upper Mount Pleasant —

$350,000

$300,000

$500,000 $250,000

$500,000

$250,000 $400,000

$400,000

$200,000

$200,000 $300,000

$300,000 $150,000

$200,000 $100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

$150,000

$200,000

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of November 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 November 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 – October 2021

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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%

269

278

+ 3.3%

New Listings

6

7

+ 16.7%

57

57

0.0%

Closed Sales

34

15

- 55.9%

229

230

+ 0.4%

Closed Sales

5

3

- 40.0%

42

41

- 2.4%

Median Sales Price*

$1,115,063

$1,300,000

+ 16.6%

$1,134,500

$1,635,000

+ 44.1%

Median Sales Price*

$3,100,000

$2,600,000

- 16.1%

$2,247,500

$3,000,000

+ 33.5%

Average Sales Price*

$1,275,832

$2,074,000

+ 62.6%

$1,348,226

$1,973,848

+ 46.4%

Average Sales Price*

$2,997,000

$2,433,333

- 18.8%

$2,391,012

$3,459,385

+ 44.7%

94.5%

97.5%

+ 3.2%

92.8%

97.4%

+ 5.0%

Percent of Original List Price Received*

98.9%

100.0%

+ 1.1%

92.3%

96.4%

+ 4.4%

Days on Market Until Sale

94

40

- 57.4%

106

30

- 71.7%

Days on Market Until Sale

19

0

- 100.0%

79

71

- 10.1%

Inventory of Homes for Sale

52

34

- 34.6%

--

--

--

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

October

Year to Date

October

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

8

4

- 50.0%

133

100

- 24.8%

New Listings

0

1

--

3

6

+ 100.0%

Closed Sales

14

5

- 64.3%

117

100

- 14.5%

Closed Sales

0

0

--

3

4

+ 33.3%

Median Sales Price*

$625,000

$801,500

+ 28.2%

$585,000

$725,000

+ 23.9%

Median Sales Price*

$0

$0

--

$1,600,000

$580,000

- 63.8%

Average Sales Price*

$687,286

$833,300

+ 21.2%

$654,047

$764,113

+ 16.8%

Average Sales Price*

$0

$0

--

$1,264,077

$821,250

- 35.0%

96.0%

96.8%

+ 0.8%

94.3%

97.8%

+ 3.7%

Percent of Original List Price Received*

0.0%

0.0%

--

89.5%

86.6%

- 3.2%

Days on Market Until Sale

50

51

+ 2.0%

101

68

- 32.7%

Days on Market Until Sale

0

0

--

353

54

- 84.7%

Inventory of Homes for Sale

41

15

- 63.4%

--

--

--

Inventory of Homes for Sale

1

1

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 November 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 November 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 – October 2021

Local Market Update – October 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 October

Single-Family Detached

Year to Date

October

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

74

50

- 32.4%

740

663

- 10.4%

New Listings

135

128

- 5.2%

1,605

1,395

- 13.1%

Closed Sales

69

60

- 13.0%

639

607

- 5.0%

Closed Sales

151

123

- 18.5%

1,359

1,163

- 14.4%

Median Sales Price*

$422,000

$550,000

+ 30.3%

$393,235

$460,000

+ 17.0%

Median Sales Price*

$325,000

$415,000

+ 27.7%

$325,000

$388,500

+ 19.5%

Average Sales Price*

$606,057

$618,841

+ 2.1%

$485,588

$552,363

+ 13.8%

Average Sales Price*

$384,466

$490,741

+ 27.6%

$367,398

$446,312

+ 21.5%

97.4%

98.5%

+ 1.1%

96.4%

99.2%

+ 2.9%

Percent of Original List Price Received*

97.1%

98.0%

+ 0.9%

96.8%

99.1%

+ 2.4%

Days on Market Until Sale

43

25

- 41.9%

43

19

- 55.8%

Days on Market Until Sale

29

18

- 37.9%

39

18

- 53.8%

Inventory of Homes for Sale

96

40

- 58.3%

--

--

--

Inventory of Homes for Sale

177

112

- 36.7%

--

--

--

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

21

25

+ 19.0%

249

265

+ 6.4%

New Listings

47

38

- 19.1%

480

490

+ 2.1%

Closed Sales

31

20

- 35.5%

197

249

+ 26.4%

Closed Sales

38

37

- 2.6%

405

452

+ 11.6%

Median Sales Price*

$205,000

$263,450

+ 28.5%

$205,800

$230,000

+ 11.8%

Median Sales Price*

$208,500

$245,250

+ 17.6%

$215,000

$245,500

+ 14.2%

Average Sales Price*

$216,995

$281,070

+ 29.5%

$206,722

$246,319

+ 19.2%

Average Sales Price*

$213,281

$261,131

+ 22.4%

$215,557

$244,894

+ 13.6%

95.2%

98.2%

+ 3.2%

96.6%

99.5%

+ 3.0%

Percent of Original List Price Received*

97.7%

99.7%

+ 2.0%

97.3%

100.0%

+ 2.8%

Days on Market Until Sale

31

14

- 54.8%

37

19

- 48.6%

Days on Market Until Sale

27

9

- 66.7%

45

16

- 64.4%

Inventory of Homes for Sale

40

18

- 55.0%

--

--

--

Inventory of Homes for Sale

62

34

- 45.2%

--

--

--

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 November 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 November 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

FOLLOW THE CASSINA GROUP