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OCTOBER 2018

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 2018

Local Market Update – October 2018

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

32

52

+ 62.5%

254

361

+ 42.1%

New Listings

18

25

+ 38.9%

198

238

+ 20.2%

Closed Sales

20

11

- 45.0%

200

179

- 10.5%

Closed Sales

14

10

- 28.6%

136

142

+ 4.4%

Median Sales Price*

$760,000

$950,000

+ 25.0%

$895,000

$975,000

+ 8.9%

Median Sales Price*

$536,750

$366,000

- 31.8%

$468,000

$492,500

+ 5.2%

Average Sales Price*

$987,518

$1,108,000

+ 12.2%

$1,266,200

$1,316,166

+ 3.9%

Average Sales Price*

$540,557

$406,035

- 24.9%

$509,314

$508,379

- 0.2%

90.0%

90.2%

+ 0.2%

92.2%

91.9%

- 0.3%

Percent of Original List Price Received*

97.7%

100.2%

+ 2.6%

95.3%

94.2%

- 1.2%

Days on Market Until Sale

85

64

- 24.7%

101

88

- 12.9%

Days on Market Until Sale

16

45

+ 181.3%

49

52

+ 6.1%

Inventory of Homes for Sale

118

181

+ 53.4%

--

--

--

Inventory of Homes for Sale

58

90

+ 55.2%

--

--

--

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

27

37

+ 37.0%

282

364

+ 29.1%

New Listings

5

4

- 20.0%

42

48

+ 14.3%

Closed Sales

5

12

+ 140.0%

167

144

- 13.8%

Closed Sales

1

2

+ 100.0%

22

25

+ 13.6%

Median Sales Price*

$615,000

$697,500

+ 13.4%

$570,000

$579,000

+ 1.6%

Median Sales Price*

$970,000

$423,250

- 56.4%

$355,500

$375,000

+ 5.5%

Average Sales Price*

$693,657

$1,008,042

+ 45.3%

$684,576

$759,902

+ 11.0%

Average Sales Price*

$970,000

$423,250

- 56.4%

$380,495

$459,122

+ 20.7%

96.0%

90.5%

- 5.7%

93.8%

94.0%

+ 0.2%

Percent of Original List Price Received*

97.0%

95.8%

- 1.2%

94.6%

95.5%

+ 1.0%

Days on Market Until Sale

109

61

- 44.0%

93

84

- 9.7%

Days on Market Until Sale

2

24

+ 1,100.0%

61

38

- 37.7%

Inventory of Homes for Sale

121

161

+ 33.1%

--

--

--

Inventory of Homes for Sale

17

18

+ 5.9%

--

--

--

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 Single-Family Detached $1,200,000

* 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 —

$700,000

$1,000,000

$600,000

$800,000

$500,000

$600,000

$400,000

Single-Family Detached All MLS — Downtown Charleston —

$600,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —

All MLS — Upper Charleston Peninsula —

$500,000

$500,000 $400,000 $400,000 $300,000 $300,000

$400,000

$300,000

$200,000

$200,000

$0 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

$100,000 1-2008

$200,000

$200,000

1-2010

1-2012

1-2014

1-2016

1-2018

Current as of November 9, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

$100,000 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

Current as of November 9, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – October 2018

Local Market Update – October 2018

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

108

92

- 14.8%

1,055

987

- 6.4%

New Listings

129

126

- 2.3%

1,393

1,348

- 3.2%

Closed Sales

45

53

+ 17.8%

708

701

- 1.0%

Closed Sales

70

59

- 15.7%

883

825

- 6.6%

Median Sales Price*

$475,000

$535,000

+ 12.6%

$520,400

$568,065

+ 9.2%

Median Sales Price*

$547,313

$550,000

+ 0.5%

$481,270

$521,005

+ 8.3%

Average Sales Price*

$567,725

$651,570

+ 14.8%

$642,194

$670,851

+ 4.5%

Average Sales Price*

$561,928

$614,498

+ 9.4%

$526,594

$573,948

+ 9.0%

95.7%

95.5%

- 0.2%

95.4%

95.4%

0.0%

96.7%

95.8%

- 0.9%

96.9%

96.4%

- 0.5%

Days on Market Until Sale

47

44

- 6.4%

55

50

- 9.1%

Days on Market Until Sale

76

57

- 25.0%

76

74

- 2.6%

Inventory of Homes for Sale

298

254

- 14.8%

--

--

--

Inventory of Homes for Sale

444

415

- 6.5%

--

--

--

Percent of Original List Price Received*

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

43

40

- 7.0%

409

411

+ 0.5%

New Listings

21

40

+ 90.5%

374

428

+ 14.4%

Closed Sales

25

22

- 12.0%

380

303

- 20.3%

Closed Sales

17

26

+ 52.9%

302

305

+ 1.0%

Median Sales Price*

$239,500

$237,385

- 0.9%

$235,000

$240,000

+ 2.1%

Median Sales Price*

$244,000

$337,438

+ 38.3%

$306,900

$313,000

+ 2.0%

Average Sales Price*

$495,861

$318,453

- 35.8%

$346,652

$327,387

- 5.6%

Average Sales Price*

$273,698

$316,803

+ 15.7%

$299,321

$298,719

- 0.2%

94.5%

96.7%

+ 2.3%

96.4%

96.8%

+ 0.4%

Percent of Original List Price Received*

95.3%

97.7%

+ 2.5%

97.4%

97.5%

+ 0.1%

Days on Market Until Sale

72

27

- 62.5%

54

44

- 18.5%

Days on Market Until Sale

52

29

- 44.2%

45

48

+ 6.7%

Inventory of Homes for Sale

81

89

+ 9.9%

--

--

--

Inventory of Homes for Sale

73

102

+ 39.7%

--

--

--

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.

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 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

$120,000 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

Current as of November 9, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

$100,000 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

Current as of November 9, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – October 2018

Local Market Update – October 2018

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

25

34

+ 36.0%

247

254

+ 2.8%

New Listings

6

8

+ 33.3%

71

80

+ 12.7%

Closed Sales

11

17

+ 54.5%

169

162

- 4.1%

Closed Sales

0

2

--

48

54

+ 12.5%

Median Sales Price*

$920,000

$763,500

- 17.0%

$830,000

$925,000

+ 11.4%

Median Sales Price*

$0

$2,157,500

--

$1,700,000

$1,981,800

+ 16.6%

Average Sales Price*

$1,377,636

$1,167,676

- 15.2%

$1,060,207

$1,255,975

+ 18.5%

Average Sales Price*

$0

$2,157,500

--

$2,027,568

$2,182,122

+ 7.6%

95.5%

91.3%

- 4.4%

92.1%

91.9%

- 0.2%

Percent of Original List Price Received*

0.0%

86.7%

--

90.5%

93.7%

+ 3.5%

Days on Market Until Sale

79

101

+ 27.8%

129

116

- 10.1%

Days on Market Until Sale

0

86

--

142

81

- 43.0%

Inventory of Homes for Sale

146

129

- 11.6%

--

--

--

Inventory of Homes for Sale

29

20

- 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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

8

10

+ 25.0%

113

114

+ 0.9%

New Listings

0

0

--

2

6

+ 200.0%

Closed Sales

8

7

- 12.5%

80

82

+ 2.5%

Closed Sales

0

0

--

3

2

- 33.3%

Median Sales Price*

$497,500

$640,000

+ 28.6%

$512,500

$545,000

+ 6.3%

Median Sales Price*

$0

$0

--

$512,500

$487,500

- 4.9%

Average Sales Price*

$554,875

$571,929

+ 3.1%

$538,198

$590,301

+ 9.7%

Average Sales Price*

$0

$0

--

$475,500

$487,500

+ 2.5%

90.9%

95.0%

+ 4.5%

94.0%

94.3%

+ 0.3%

Percent of Original List Price Received*

0.0%

0.0%

--

90.4%

97.5%

+ 7.9%

Days on Market Until Sale

259

73

- 71.8%

156

94

- 39.7%

Days on Market Until Sale

0

0

--

216

13

- 94.0%

Inventory of Homes for Sale

63

64

+ 1.6%

--

--

--

Inventory of Homes for Sale

0

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

* 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 —

$1,500,000

$1,250,000

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

$1,000,000 $600,000

$1,500,000

$400,000

$1,000,000

$200,000

$500,000

$750,000

$2,000,000

$500,000

$250,000

$0 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

$0 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

Current as of November 9, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$0 1-2008

$1,000,000

1-2010

1-2012

1-2014

1-2016

1-2018

$0 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

Current as of November 9, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – October 2018

Local Market Update – October 2018

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

76

74

- 2.6%

873

814

- 6.8%

New Listings

154

171

+ 11.0%

1,537

1,579

+ 2.7%

Closed Sales

45

58

+ 28.9%

616

618

+ 0.3%

Closed Sales

112

98

- 12.5%

1,192

1,174

- 1.5%

Median Sales Price*

$390,000

$382,000

- 2.1%

$352,500

$372,000

+ 5.5%

Median Sales Price*

$290,000

$302,250

+ 4.2%

$291,000

$309,768

+ 6.4%

Average Sales Price*

$485,274

$419,077

- 13.6%

$415,232

$436,838

+ 5.2%

Average Sales Price*

$310,374

$311,239

+ 0.3%

$316,255

$344,708

+ 9.0%

96.1%

95.6%

- 0.5%

96.1%

96.9%

+ 0.8%

Percent of Original List Price Received*

95.5%

94.1%

- 1.5%

96.6%

96.5%

- 0.1%

Days on Market Until Sale

38

58

+ 52.6%

43

39

- 9.3%

Days on Market Until Sale

46

51

+ 10.9%

34

39

+ 14.7%

Inventory of Homes for Sale

189

185

- 2.1%

--

--

--

Inventory of Homes for Sale

315

344

+ 9.2%

--

--

--

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

26

18

- 30.8%

232

220

- 5.2%

New Listings

41

40

- 2.4%

454

466

+ 2.6%

Closed Sales

9

18

+ 100.0%

195

179

- 8.2%

Closed Sales

30

25

- 16.7%

400

379

- 5.3%

Median Sales Price*

$218,000

$171,500

- 21.3%

$188,000

$195,000

+ 3.7%

Median Sales Price*

$168,250

$210,000

+ 24.8%

$179,950

$185,000

+ 2.8%

Average Sales Price*

$209,410

$179,339

- 14.4%

$193,562

$195,530

+ 1.0%

Average Sales Price*

$182,766

$208,885

+ 14.3%

$181,595

$185,541

+ 2.2%

97.8%

95.5%

- 2.4%

96.7%

96.6%

- 0.1%

Percent of Original List Price Received*

98.4%

96.1%

- 2.3%

97.8%

97.4%

- 0.4%

Days on Market Until Sale

39

51

+ 30.8%

44

46

+ 4.5%

Days on Market Until Sale

26

41

+ 57.7%

34

37

+ 8.8%

Inventory of Homes for Sale

52

52

0.0%

--

--

--

Inventory of Homes for Sale

72

87

+ 20.8%

--

--

--

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

* 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

$220,000

All MLS — West Ashley Area —

$320,000

All MLS — West Ashley Area —

$220,000

$300,000

$200,000

$350,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

Rolling 12-Month Calculation

$200,000 $280,000

$180,000 $300,000

$180,000

$260,000 $160,000 $240,000

$250,000 $140,000 $200,000

$150,000 1-2008

$120,000

1-2010

1-2012

1-2014

1-2016

1-2018

$100,000 1-2008

$160,000

$220,000 $140,000

$200,000

1-2010

1-2012

1-2014

1-2016

1-2018

Current as of November 9, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$180,000 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

$120,000 1-2008

1-2010

1-2012

1-2014

1-2016

1-2018

Current as of November 9, 2018. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2018 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 2018 Real Estate Report | Presented by The Cassina Group  

October 2018 Real Estate Report | Presented by The Cassina Group  

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