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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