SEPTEMBER 2019
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 – September 2019
Local Market Update – September 2019
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 September
Single-Family Detached
Year to Date
September
Single-Family Detached
Year to Date
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
32
42
+ 31.3%
304
365
+ 20.1%
New Listings
20
18
- 10.0%
211
214
+ 1.4%
Closed Sales
8
11
+ 37.5%
168
136
- 19.0%
Closed Sales
9
12
+ 33.3%
131
151
+ 15.3%
Median Sales Price*
$1,622,940
$1,138,236
- 29.9%
$991,500
$1,032,518
+ 4.1%
Median Sales Price*
$440,000
$430,000
- 2.3%
$507,000
$450,000
- 11.2%
Average Sales Price*
$1,702,035
$1,090,021
- 36.0%
$1,340,585
$1,378,935
+ 2.9%
Average Sales Price*
$461,667
$460,882
- 0.2%
$514,920
$478,188
- 7.1%
96.5%
90.3%
- 6.4%
91.9%
90.2%
- 1.8%
Percent of Original List Price Received*
92.4%
95.7%
+ 3.6%
93.7%
91.2%
- 2.7%
Days on Market Until Sale
42
58
+ 38.1%
90
87
- 3.3%
Days on Market Until Sale
35
52
+ 48.6%
52
65
+ 25.0%
Inventory of Homes for Sale
177
202
+ 14.1%
--
--
--
Inventory of Homes for Sale
83
73
- 12.0%
--
--
--
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
September
Year to Date
September
Year to Date
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
24
23
- 4.2%
328
322
- 1.8%
New Listings
2
4
+ 100.0%
44
30
- 31.8%
Closed Sales
9
7
- 22.2%
132
130
- 1.5%
Closed Sales
3
1
- 66.7%
23
16
- 30.4%
Median Sales Price*
$409,000
$915,000
+ 123.7%
$565,000
$607,500
+ 7.5%
Median Sales Price*
$270,000
$260,000
- 3.7%
$375,000
$274,175
- 26.9%
Average Sales Price*
$438,500
$941,857
+ 114.8%
$737,344
$738,602
+ 0.2%
Average Sales Price*
$295,000
$260,000
- 11.9%
$462,241
$345,866
- 25.2%
95.0%
87.5%
- 7.9%
94.4%
91.6%
- 3.0%
Percent of Original List Price Received*
98.7%
96.3%
- 2.4%
95.5%
92.5%
- 3.1%
Days on Market Until Sale
48
140
+ 191.7%
86
95
+ 10.5%
Days on Market Until Sale
4
9
+ 125.0%
40
97
+ 142.5%
Inventory of Homes for Sale
166
174
+ 4.8%
--
--
--
Inventory of Homes for Sale
19
15
- 21.1%
--
--
--
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.
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
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
$200,000
$200,000
$200,000
$200,000 $0 1-2009
All MLS — Upper Charleston Peninsula —
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of October 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of October 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – September 2019
Local Market Update – September 2019
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 September
Single-Family Detached
Year to Date
September
Single-Family Detached
Year to Date
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
71
61
- 14.1%
897
954
+ 6.4%
New Listings
119
104
- 12.6%
1,219
1,256
+ 3.0%
Closed Sales
58
54
- 6.9%
650
639
- 1.7%
Closed Sales
72
85
+ 18.1%
766
879
+ 14.8%
Median Sales Price*
$556,500
$544,000
- 2.2%
$569,900
$565,000
- 0.9%
Median Sales Price*
$512,000
$503,415
- 1.7%
$520,000
$513,000
- 1.3%
Average Sales Price*
$673,906
$608,663
- 9.7%
$672,402
$685,499
+ 1.9%
Average Sales Price*
$542,458
$556,077
+ 2.5%
$570,913
$568,775
- 0.4%
94.2%
93.7%
- 0.5%
95.4%
94.4%
- 1.0%
Percent of Original List Price Received*
95.6%
96.1%
+ 0.5%
96.4%
96.5%
+ 0.1%
Days on Market Until Sale
50
58
+ 16.0%
51
61
+ 19.6%
Days on Market Until Sale
73
88
+ 20.5%
75
72
- 4.0%
Inventory of Homes for Sale
259
276
+ 6.6%
--
--
--
Inventory of Homes for Sale
437
336
- 23.1%
--
--
--
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
September
Year to Date
September
Year to Date
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
33
22
- 33.3%
371
321
- 13.5%
New Listings
42
26
- 38.1%
388
361
- 7.0%
Closed Sales
19
23
+ 21.1%
281
256
- 8.9%
Closed Sales
39
23
- 41.0%
279
266
- 4.7%
Median Sales Price*
$231,000
$232,000
+ 0.4%
$240,000
$249,450
+ 3.9%
Median Sales Price*
$345,287
$280,000
- 18.9%
$309,500
$305,000
- 1.5%
Average Sales Price*
$347,153
$302,539
- 12.9%
$328,086
$347,488
+ 5.9%
Average Sales Price*
$339,077
$281,752
- 16.9%
$297,033
$295,234
- 0.6%
95.6%
94.4%
- 1.3%
96.8%
95.9%
- 0.9%
Percent of Original List Price Received*
98.3%
94.6%
- 3.8%
97.5%
96.3%
- 1.2%
Days on Market Until Sale
31
63
+ 103.2%
45
55
+ 22.2%
Days on Market Until Sale
49
65
+ 32.7%
49
61
+ 24.5%
Inventory of Homes for Sale
92
77
- 16.3%
--
--
--
Inventory of Homes for Sale
112
85
- 24.1%
--
--
--
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.
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 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$120,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of October 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of October 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – September 2019
Local Market Update – September 2019
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 September
Single-Family Detached
Year to Date
September
Single-Family Detached
Year to Date
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
18
13
- 27.8%
221
246
+ 11.3%
New Listings
6
2
- 66.7%
72
53
- 26.4%
Closed Sales
11
17
+ 54.5%
146
143
- 2.1%
Closed Sales
3
4
+ 33.3%
52
37
- 28.8%
Median Sales Price*
$985,000
$1,045,000
+ 6.1%
$927,500
$1,062,500
+ 14.6%
Median Sales Price*
$2,050,000
$1,442,500
- 29.6%
$1,981,800
$1,950,000
- 1.6%
Average Sales Price*
$994,007
$1,468,700
+ 47.8%
$1,261,592
$1,427,347
+ 13.1%
Average Sales Price*
$1,859,750
$1,743,750
- 6.2%
$2,183,069
$2,233,997
+ 2.3%
91.5%
90.8%
- 0.8%
92.0%
91.7%
- 0.3%
Percent of Original List Price Received*
96.0%
85.9%
- 10.5%
94.0%
88.3%
- 6.1%
Days on Market Until Sale
177
129
- 27.1%
117
104
- 11.1%
Days on Market Until Sale
44
87
+ 97.7%
81
98
+ 21.0%
Inventory of Homes for Sale
119
140
+ 17.6%
--
--
--
Inventory of Homes for Sale
26
24
- 7.7%
--
--
--
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
September
Year to Date
September
Year to Date
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
9
9
0.0%
104
113
+ 8.7%
New Listings
0
0
--
6
2
- 66.7%
Closed Sales
7
11
+ 57.1%
75
66
- 12.0%
Closed Sales
0
0
--
2
3
+ 50.0%
Median Sales Price*
$639,000
$594,000
- 7.0%
$545,000
$487,000
- 10.6%
Median Sales Price*
$0
$0
--
$487,500
$1,735,000
+ 255.9%
Average Sales Price*
$760,143
$735,886
- 3.2%
$592,016
$562,876
- 4.9%
Average Sales Price*
$0
$0
--
$487,500
$1,397,500
+ 186.7%
93.6%
93.8%
+ 0.2%
94.2%
94.7%
+ 0.5%
Percent of Original List Price Received*
0.0%
0.0%
--
97.5%
96.5%
- 1.0%
Days on Market Until Sale
138
107
- 22.5%
96
103
+ 7.3%
Days on Market Until Sale
0
0
--
13
170
+ 1,207.7%
Inventory of Homes for Sale
62
80
+ 29.0%
--
--
--
Inventory of Homes for Sale
4
2
- 50.0%
--
--
--
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
$1,000,000
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
$800,000 $600,000
$1,500,000
$400,000
$1,000,000
$200,000
$500,000
$600,000
$2,000,000
$400,000
$200,000
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of October 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$0 1-2009
$1,000,000
1-2011
1-2013
1-2015
1-2017
1-2019
$0 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of October 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
Local Market Update – September 2019
Local Market Update – September 2019
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 September
Single-Family Detached
Year to Date
September
Single-Family Detached
Year to Date
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
53
77
+ 45.3%
740
813
+ 9.9%
New Listings
108
109
+ 0.9%
1,410
1,442
+ 2.3%
Closed Sales
51
62
+ 21.6%
559
561
+ 0.4%
Closed Sales
79
98
+ 24.1%
1,081
1,005
- 7.0%
Median Sales Price*
$398,900
$364,500
- 8.6%
$370,310
$360,000
- 2.8%
Median Sales Price*
$300,300
$324,944
+ 8.2%
$310,000
$317,000
+ 2.3%
Average Sales Price*
$466,016
$429,576
- 7.8%
$438,920
$443,123
+ 1.0%
Average Sales Price*
$338,822
$320,305
- 5.5%
$347,702
$342,486
- 1.5%
97.0%
96.0%
- 1.0%
97.1%
95.8%
- 1.3%
Percent of Original List Price Received*
95.5%
96.0%
+ 0.5%
96.7%
95.6%
- 1.1%
Days on Market Until Sale
31
46
+ 48.4%
38
49
+ 28.9%
Days on Market Until Sale
34
34
0.0%
37
47
+ 27.0%
Inventory of Homes for Sale
208
191
- 8.2%
--
--
--
Inventory of Homes for Sale
362
354
- 2.2%
--
--
--
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
September
Year to Date
September
Year to Date
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
Key Metrics
2018
2019
Percent Change
2018
2019
Percent Change
New Listings
20
16
- 20.0%
204
237
+ 16.2%
New Listings
47
45
- 4.3%
425
499
+ 17.4%
Closed Sales
7
24
+ 242.9%
161
198
+ 23.0%
Closed Sales
36
29
- 19.4%
354
384
+ 8.5%
Median Sales Price*
$220,000
$248,983
+ 13.2%
$198,000
$208,000
+ 5.1%
Median Sales Price*
$184,938
$209,000
+ 13.0%
$182,375
$210,000
+ 15.1%
Average Sales Price*
$194,643
$267,192
+ 37.3%
$197,341
$222,669
+ 12.8%
Average Sales Price*
$180,039
$214,269
+ 19.0%
$183,893
$210,820
+ 14.6%
98.5%
100.2%
+ 1.7%
96.7%
97.5%
+ 0.8%
Percent of Original List Price Received*
97.0%
95.8%
- 1.2%
97.5%
97.2%
- 0.3%
Days on Market Until Sale
10
16
+ 60.0%
45
38
- 15.6%
Days on Market Until Sale
27
49
+ 81.5%
37
43
+ 16.2%
Inventory of Homes for Sale
55
49
- 10.9%
--
--
--
Inventory of Homes for Sale
99
116
+ 17.2%
--
--
--
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 —
$400,000
$350,000
Townhouse-Condo Attached
Single-Family Detached All MLS — James Island —
$220,000
All MLS — West Ashley Area —
$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
$220,000
$200,000
$300,000
$180,000
$250,000
$160,000
$200,000
$150,000 1-2009
All MLS — West Ashley Area —
1-2011
1-2013
1-2015
1-2017
1-2019
$100,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of October 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.
$175,000 1-2009
$140,000
1-2011
1-2013
1-2015
1-2017
1-2019
$120,000 1-2009
1-2011
1-2013
1-2015
1-2017
1-2019
Current as of October 9, 2019. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2019 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
FOLLOW THE CASSINA GROUP