October 2022 Real Estate Report | The Cassina Group

Page 1

OCTOBER 2022

REAL ESTATE REPORT

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.

Single-Family Detached

Key Metrics

Median Sales Price* $1,322,500 $1,452,500 + 9.8%$999,375 $1,295,000 + 29.6%

Average Sales Price* $1,421,389 $1,709,438 + 20.3%$1,394,437 $1,806,930 + 29.6%

Percent of Original List Price Received*91.8% 96.7% + 5.3%94.0% 97.2% + 3.4% Days on Market Until Sale 75 30 - 60.0%88 45 - 48.9% Inventory of Homes for Sale 73 54 - 26.0% Key Metrics

Average Sales Price* $780,220 $1,352,571 + 73.4%$781,838 $900,168 + 15.1%

Percent of Original List Price Received*91.7% 94.9% + 3.5%94.1%

Year to Date

New Listings 21 16 - 23.8%241 218 - 9.5%

Closed Sales 22 13 - 40.9%220 177 - 19.5%

Median Sales Price* $585,000 $815,000 + 39.3%$589,500 $655,000 + 11.1%

Average Sales Price* $625,677 $742,785 + 18.7%$616,020 $754,358 + 22.5%

Percent of Original List Price Received*96.2% 94.5% - 1.8%96.1% 97.5% + 1.5%

Days on Market Until Sale 20 37 + 85.0%58 32 - 44.8%

Inventory of Homes for Sale 39 36 - 7.7%

October Year to Date

Key Metrics 20212022 Percent Change 20212022 Percent Change

New Listings 4 3 - 25.0%42 32 - 23.8%

Closed Sales 2 0 - 100.0%30 27 - 10.0%

Median Sales Price* $466,841 $0 - 100.0%$442,000 $423,000 - 4.3%

Average Sales Price* $466,841 $0 - 100.0%$517,079 $469,883 - 9.1%

Percent of Original List Price Received*95.8% 0.0% - 100.0%97.7% 96.5% - 1.2% Days on Market Until Sale 14 0 - 100.0%36 61 + 69.4% Inventory of Homes for Sale 9 4 - 55.6%

Detached
Percent Change
Percent Change
Single-Family
Key Metrics 20212022
20212022
New Listings 23 26 + 13.0%362 266 - 26.5% Closed Sales 26 12 - 53.8%339 221 - 34.8%
Percent Change
Percent Change
20212022
20212022
New Listings 23 23 0.0% 346 276 - 20.2% Closed Sales 24 7 - 70.8%294 230 - 21.8%
Median Sales Price* $765,000 $1,400,000 + 83.0%$644,500 $657,500 + 2.0%
97.2% + 3.3% Days on Market Until Sale 136 43 -
57
Inventory of Homes for Sale 92 50 - 45.7% -All MLS — All MLS — Local Market Update – October 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® Downtown Charleston October Year to Date * 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. Area 51 October Year to Date * 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 Downtown Charleston — Downtown Charleston — Current as of November 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 $800,000
Attached
68.4%100
- 43.0%
1-20121-20141-20161-20181-20201-2022 Townhouse-Condo
Percent Change
20212022 Percent Change 20212022
All MLS — All MLS —
Research Tool Provided by the Charleston Trident Association of REALTORS®
Does not account for sale concessions and/or downpayment assistance. Percent changes are calculated using rounded figures and can sometimes look extreme due
sample
--
Local Market Update – October 2022 A
Upper Charleston Peninsula October
*
to small
size. Area 52
* 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 Upper Charleston Peninsula — Upper Charleston Peninsula — Current as of November 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 $700,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached

New Listings 76 58 - 23.7%878 745 - 15.1% Closed Sales 78 42 - 46.2%831 601 - 27.7%

Median Sales Price* $789,250 $837,250 + 6.1%$740,000 $895,000 + 20.9%

Average Sales Price* $1,066,328 $1,199,488 + 12.5%$911,209 $1,174,670 + 28.9%

Percent of Original List Price Received*96.8% 94.2% - 2.7%98.6% 99.2% + 0.6% Days on Market Until Sale 22 20 - 9.1% 23 13 - 43.5% Inventory of Homes for Sale 59 78 + 32.2%-Key Metrics

New Listings 28 33 + 17.9%506 330 - 34.8% Closed Sales 42 25 - 40.5%478 291 - 39.1%

Median Sales Price* $365,000 $428,000 + 17.3%$310,000 $395,000 + 27.4%

Average Sales Price* $558,799 $501,112 - 10.3%$421,378 $521,233 + 23.7%

Percent of Original List Price Received*100.1% 95.7% - 4.4%99.9%

Upper Mount Pleasant October Year to Date

Single-Family Detached

Key Metrics 20212022

New Listings 86 79 - 8.1%1,151 1,031 - 10.4%

Closed Sales 104 76 - 26.9%1,087 794 - 27.0%

Median Sales Price* $699,183 $806,500 + 15.3%$635,226 $805,500 + 26.8%

Average Sales Price* $789,678 $911,390 + 15.4%$719,630 $914,803 + 27.1%

Percent of Original List Price Received*100.5% 99.0% - 1.5%100.8% 100.1% - 0.7%

Days on Market Until Sale 20 19 - 5.0% 17 13 - 23.5%

Inventory of Homes for Sale 77 164 + 113.0%--

Year to

Key

New Listings 34 20 - 41.2%328 297 - 9.5%

Closed Sales 30 13 - 56.7%294 263 - 10.5%

Median Sales Price* $398,946 $500,000 + 25.3%$341,500 $420,000 + 23.0%

Average Sales Price* $393,080 $472,269 + 20.1%$350,536 $429,000 + 22.4%

Percent of Original List Price Received*100.5% 96.3% - 4.2%100.7% 101.1% + 0.4% Days on Market Until Sale 16 29 + 81.3%13 13 0.0% Inventory of Homes for Sale 22 34 + 54.5%-- --

Detached
Percent Change
Percent Change
Single-Family
Key Metrics 20212022
20212022
Percent
Percent Change
20212022
Change 20212022
Days on Market Until Sale 14 25
12
Inventory of Homes for Sale 24 40
-All MLS — All MLS — Local Market Update – October 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® Lower Mount Pleasant October Year to Date * 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. Area 42 October Year to Date * 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 Lower Mount Pleasant — Lower Mount Pleasant — Current as of November 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 $400,000 1-20121-20141-20161-20181-20201-2022
Attached
100.3% + 0.4%
+ 78.6%21
- 42.9%
+ 66.7%--
Townhouse-Condo
Percent Change
Percent Change
20212022
Metrics 20212022 Percent Change 20212022 Percent Change
All MLS — All MLS —
Research Tool Provided by the Charleston Trident Association of REALTORS®
Local Market Update
October 2022 A
Does
account for sale concessions and/or downpayment assistance. Percent changes are calculated using rounded figures and can sometimes look extreme
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 Upper Mount Pleasant — Upper Mount Pleasant — Current as of November 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $200,000 $300,000 $400,000 $500,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
*
not
due to small sample size. Area 41 October
Date * Does not

Sullivan's

New Listings 22 14 - 36.4%278 200 - 28.1% Closed Sales 15 12 - 20.0%231 142 - 38.5%

Median Sales Price* $1,300,000 $1,862,500 + 43.3%$1,630,000 $1,987,500 + 21.9%

Average Sales Price* $2,074,000 $2,873,750 + 38.6%$1,967,875 $2,336,317 + 18.7%

Percent of Original List Price Received*97.5% 99.0% + 1.5%97.4% 97.0% - 0.4% Days on Market Until Sale 40 21 - 47.5%30 26 - 13.3% Inventory of Homes for Sale 34 51 + 50.0%-Key Metrics

New Listings 4 6 + 50.0%100 107 + 7.0% Closed Sales 6 8 + 33.3%101 87 - 13.9%

Median Sales Price* $838,250 $687,000 - 18.0%$725,000 $849,000 + 17.1%

Average Sales Price* $994,417 $904,875 - 9.0%$774,369 $981,482 + 26.7%

Percent of Original List Price Received*97.4% 95.3% - 2.2%97.8% 97.6% - 0.2%

Single-Family Detached

October Year to Date

Key Metrics 20212022

New Listings 7 4 - 42.9%57 50 - 12.3%

Closed Sales 3 0 - 100.0%41 26 - 36.6%

Median Sales Price* $2,600,000 0 - 100.0%$3,000,000 $4,687,500 + 56.3%

Average Sales Price* $2,433,333 $0 - 100.0%$3,459,385 $4,649,966 + 34.4%

Percent of Original List Price Received*100.0% 0.0% - 100.0%96.4% 94.7% - 1.8%

Days on Market Until Sale 0 0 71 32 - 54.9%

Inventory of Homes for Sale 12 16 + 33.3%--

Year to Date

Key

New Listings 1 0 - 100.0%6 2 - 66.7%

Closed Sales 0 0 4 4 0.0%

Median Sales Price* $0 $0 --$580,000 $1,812,500 + 212.5%

Average Sales Price* $0 $0 --$821,250 $1,678,125 + 104.3%

Percent of Original List Price Received*0.0% 0.0% 86.6% 90.9%

Detached
Percent Change
Percent Change
Single-Family
Key Metrics 20212022
20212022
Percent Change
Percent Change
20212022
20212022
Days
-All MLS — All MLS — Local Market Update – October 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® Isle of Palms October
* 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. Areas 44 & 45 October
* 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 Isle of Palms — Isle of Palms — Current as of November 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $0 $200,000 $400,000 $600,000 $800,000 $1,000,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
on Market Until Sale 43 67 + 55.8%67 35 - 47.8% Inventory of Homes for Sale 18 14 - 22.2%
Year to Date
Year to Date
Percent Change
Percent Change
20212022
Percent
Metrics 20212022 Percent Change 20212022
Change
Days on Market Until Sale 0
Inventory of Homes for Sale
-All MLS — All MLS — Local Market
2022 A Research Tool Provided by the Charleston Trident Association of REALTORS®
+ 5.0%
0 54 49 - 9.3%
1 0 - 100.0%--
Update
October
Island
* 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. Area
* 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
Sullivan's Island — Sullivan's Island — Current as of November 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
43 October
Attached

Single-Family

Single-Family Detached

Key Metrics

20212022

New Listings 50 57 + 14.0%663 596 - 10.1% Closed Sales 60 36 - 40.0%607 480 - 20.9%

Median Sales Price* $550,000 $595,000 + 8.2%$460,000 $565,000 + 22.8%

Average Sales Price* $618,619 $677,316 + 9.5%$552,341 $640,517 + 16.0%

Percent of Original List Price Received*98.4% 94.4% - 4.1%99.1% 100.0% + 0.9% Days on Market Until Sale 25 23 - 8.0% 19 14 - 26.3% Inventory of Homes for Sale 46 73 + 58.7%-Key Metrics

New Listings 25 13 - 48.0%265 218 - 17.7% Closed Sales 20 8 - 60.0%249 208 - 16.5%

Median Sales Price* $263,450 $293,500 + 11.4%$230,000 $284,500 + 23.7%

Average Sales Price* $281,095 $282,413 + 0.5%$246,321 $300,623 + 22.0%

Percent of Original List Price Received*98.2% 97.8% - 0.4%99.5% 101.5% + 2.0% Days

New Listings 127 106 - 16.5%1,394 1,317 - 5.5%

Closed Sales 123 90 - 26.8%1,168 1,158 - 0.9%

Median Sales Price* $415,000 $457,500 + 10.2%$389,500 $449,500 + 15.4%

Average Sales Price* $490,660 $516,791 + 5.3%$446,714 $506,732 + 13.4%

Percent of Original List Price Received*97.9% 96.7% - 1.2%99.1% 100.2% + 1.1%

Days on Market Until Sale 18 19 + 5.6% 18 14 - 22.2%

Inventory of Homes for Sale 134 154 + 14.9%--

Key Metrics 20212022 Percent Change 20212022 Percent Change

New Listings 35 29 - 17.1%487 378 - 22.4%

Closed Sales 37 23 - 37.8%453 363 - 19.9%

Median Sales Price* $247,500 $300,000 + 21.2%$246,600 $317,500 + 28.8%

Average Sales Price* $261,614 $302,432 + 15.6%$245,077 $308,391 + 25.8%

Percent of Original List Price Received*99.7% 97.8% - 1.9%100.1% 101.8% + 1.7%

Percent Change
Percent Change
Detached Key Metrics 20212022
20212022
Percent Change
Percent Change
20212022
20212022
on Market Until Sale 14 12 - 14.3%19
-
Inventory of Homes for Sale 20 11 -
-All MLS — All MLS — Local Market Update – October 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS® James Island October
* 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. Area 21 October
to Date * 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 James Island — James Island — Current as of November 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $100,000 $200,000 $300,000 $400,000 $500,000 $600,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000
9
52.6%
45.0%
Year to Date
Year
1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
Percent Change
Percent Change
20212022
Days
Inventory
-All MLS — All MLS — Local Market Update – October 2022 A Research Tool Provided by the Charleston Trident Association of REALTORS®
Ashley
* 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. Areas 11 & 12 October
Date * 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 West Ashley Area — West Ashley Area — Current as of November 9, 2022. All data from the Charleston Trident Multiple Listing Service. Sponsored by South Carolina REALTORS®. Report © 2022 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics. $100,000 $200,000 $300,000 $400,000 $500,000 1-20121-20141-20161-20181-20201-2022 Single-Family Detached $100,000 $150,000 $200,000 $250,000 $300,000 $350,000 1-20121-20141-20161-20181-20201-2022 Townhouse-Condo Attached
on Market Until Sale 9 11 + 22.2%17 11 - 35.3%
of Homes for Sale 40 30 - 25.0%
West
Area October Year to Date
Year to
132 East Bay Street, Charleston, SC 29401 309 Coleman Boulevard, Mount Pleasant, SC 29464 843.628.0008 | TheCassinaGroup.com FOLLOW THE CASSINA GROUP
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.