September 2020 Real Estate Report | The Cassina Group

Page 1

SEPTEMBER 2020

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 2020

Local Market Update – September 2020

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

42

34

- 19.0%

364

360

- 1.1%

New Listings

18

27

+ 50.0%

215

257

+ 19.5%

Closed Sales

11

19

+ 72.7%

136

158

+ 16.2%

Closed Sales

12

18

+ 50.0%

151

153

+ 1.3%

Median Sales Price*

$1,138,236

1,035,000

- 9.1%

$1,032,518

$770,000

- 25.4%

Median Sales Price*

$430,000

570,000

+ 32.6%

$450,000

$535,000

+ 18.9%

Average Sales Price*

$1,090,021

$1,508,434

+ 38.4%

$1,378,954

$1,190,351

- 13.7%

Average Sales Price*

$460,882

$606,750

+ 31.6%

$478,188

$574,230

+ 20.1%

90.3%

92.1%

+ 2.0%

90.2%

90.3%

+ 0.1%

Percent of Original List Price Received*

95.7%

95.9%

+ 0.2%

91.2%

93.2%

+ 2.2%

Days on Market Until Sale

58

116

+ 100.0%

87

114

+ 31.0%

Days on Market Until Sale

52

43

- 17.3%

65

55

- 15.4%

Inventory of Homes for Sale

218

207

- 5.0%

--

--

--

Inventory of Homes for Sale

86

80

- 7.0%

--

--

--

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

23

42

+ 82.6%

322

335

+ 4.0%

New Listings

4

6

+ 50.0%

30

35

+ 16.7%

Closed Sales

7

10

+ 42.9%

129

130

+ 0.8%

Closed Sales

1

0

- 100.0%

16

18

+ 12.5%

Median Sales Price*

$915,000

$435,000

- 52.5%

$607,500

$587,500

- 3.3%

Median Sales Price*

$260,000

$0

- 100.0%

$274,175

$289,000

+ 5.4%

Average Sales Price*

$941,857

$468,050

- 50.3%

$735,413

$793,541

+ 7.9%

Average Sales Price*

$260,000

$0

- 100.0%

$345,866

$386,306

+ 11.7%

87.5%

93.1%

+ 6.4%

91.7%

92.2%

+ 0.5%

Percent of Original List Price Received*

96.3%

0.0%

- 100.0%

92.5%

94.9%

+ 2.6%

Days on Market Until Sale

140

170

+ 21.4%

94

130

+ 38.3%

Days on Market Until Sale

9

0

- 100.0%

97

75

- 22.7%

Inventory of Homes for Sale

188

182

- 3.2%

--

--

--

Inventory of Homes for Sale

16

19

+ 18.8%

--

--

--

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 $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

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

$200,000

$200,000

$200,000

$200,000 $0 1-2010

All MLS — Upper Charleston Peninsula —

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of October 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of October 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – September 2020

Local Market Update – September 2020

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

61

89

+ 45.9%

952

873

- 8.3%

New Listings

104

119

+ 14.4%

1,258

1,184

- 5.9%

Closed Sales

55

101

+ 83.6%

640

705

+ 10.2%

Closed Sales

84

123

+ 46.4%

882

931

+ 5.6%

Median Sales Price*

$545,000

645,000

+ 18.3%

$565,000

$611,000

+ 8.1%

Median Sales Price*

$501,738

535,000

+ 6.6%

$513,055

$535,000

+ 4.3%

Average Sales Price*

$612,324

$857,018

+ 40.0%

$685,693

$741,683

+ 8.2%

Average Sales Price*

$556,265

$587,562

+ 5.6%

$568,698

$595,835

+ 4.8%

93.9%

95.9%

+ 2.1%

94.4%

95.6%

+ 1.3%

Percent of Original List Price Received*

96.0%

98.4%

+ 2.5%

96.5%

97.3%

+ 0.8%

Days on Market Until Sale

57

52

- 8.8%

61

56

- 8.2%

Days on Market Until Sale

89

44

- 50.6%

72

58

- 19.4%

Inventory of Homes for Sale

311

167

- 46.3%

--

--

--

Inventory of Homes for Sale

377

179

- 52.5%

--

--

--

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

22

44

+ 100.0%

321

392

+ 22.1%

New Listings

26

45

+ 73.1%

361

348

- 3.6%

Closed Sales

23

58

+ 152.2%

256

307

+ 19.9%

Closed Sales

23

37

+ 60.9%

267

266

- 0.4%

Median Sales Price*

$232,000

$266,250

+ 14.8%

$249,450

$250,000

+ 0.2%

Median Sales Price*

$280,000

$324,000

+ 15.7%

$305,000

$311,250

+ 2.0%

Average Sales Price*

$302,539

$362,046

+ 19.7%

$347,485

$314,052

- 9.6%

Average Sales Price*

$281,752

$311,661

+ 10.6%

$295,064

$308,658

+ 4.6%

94.4%

96.2%

+ 1.9%

95.9%

96.2%

+ 0.3%

Percent of Original List Price Received*

94.6%

97.3%

+ 2.9%

96.3%

97.2%

+ 0.9%

Days on Market Until Sale

63

51

- 19.0%

55

51

- 7.3%

Days on Market Until Sale

65

48

- 26.2%

62

56

- 9.7%

Inventory of Homes for Sale

91

55

- 39.6%

--

--

--

Inventory of Homes for Sale

97

41

- 57.7%

--

--

--

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 $700,000

* 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

$600,000

$500,000

$300,000

$400,000

$250,000

$300,000

$200,000

$200,000

$150,000

$220,000

$500,000

$200,000 $400,000 $180,000 $300,000 $160,000 $200,000

$100,000 1-2010

$140,000

1-2012

1-2014

1-2016

1-2018

1-2020

$120,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of October 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of October 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – September 2020

Local Market Update – September 2020

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

13

27

+ 107.7%

246

238

- 3.3%

New Listings

2

4

+ 100.0%

53

52

- 1.9%

Closed Sales

17

42

+ 147.1%

143

191

+ 33.6%

Closed Sales

4

7

+ 75.0%

37

37

0.0%

Median Sales Price*

$1,045,000

1,100,000

+ 5.3%

$1,062,500

$1,100,000

+ 3.5%

Median Sales Price*

$1,442,500

1,925,000

+ 33.4%

$1,950,000

$2,195,000

+ 12.6%

Average Sales Price*

$1,468,700

$1,259,717

- 14.2%

$1,427,347

$1,337,100

- 6.3%

Average Sales Price*

$1,743,750

$1,992,143

+ 14.2%

$2,233,997

$2,309,122

+ 3.4%

90.8%

94.6%

+ 4.2%

91.7%

92.4%

+ 0.8%

Percent of Original List Price Received*

85.9%

89.5%

+ 4.2%

88.3%

91.4%

+ 3.5%

Days on Market Until Sale

129

71

- 45.0%

104

110

+ 5.8%

Days on Market Until Sale

87

120

+ 37.9%

98

87

- 11.2%

Inventory of Homes for Sale

157

48

- 69.4%

--

--

--

Inventory of Homes for Sale

28

14

- 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.

* 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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

9

14

+ 55.6%

113

125

+ 10.6%

New Listings

0

0

--

2

3

+ 50.0%

Closed Sales

11

18

+ 63.6%

66

103

+ 56.1%

Closed Sales

0

0

--

3

3

0.0%

Median Sales Price*

$594,000

$545,000

- 8.2%

$487,000

$574,000

+ 17.9%

Median Sales Price*

$0

$0

--

$1,735,000

$1,600,000

- 7.8%

Average Sales Price*

$735,886

$670,501

- 8.9%

$562,876

$649,529

+ 15.4%

Average Sales Price*

$0

$0

--

$1,397,500

$1,264,077

- 9.5%

93.8%

95.7%

+ 2.0%

94.7%

94.0%

- 0.7%

Percent of Original List Price Received*

0.0%

0.0%

--

96.5%

89.5%

- 7.3%

Days on Market Until Sale

107

132

+ 23.4%

103

109

+ 5.8%

Days on Market Until Sale

0

0

--

170

353

+ 107.6%

Inventory of Homes for Sale

80

48

- 40.0%

--

--

--

Inventory of Homes for Sale

2

1

- 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

$700,000

$1,000,000

$600,000

$800,000

$500,000

Townhouse-Condo Attached

Single-Family Detached All MLS — Isle of Palms —

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 $1,500,000

$600,000

$400,000

$2,000,000 $1,000,000

$400,000

$300,000

$200,000

$200,000

$0 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

$1,000,000

$500,000

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of October 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$0 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$0 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of October 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – September 2020

Local Market Update – September 2020

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

77

67

- 13.0%

813

667

- 18.0%

New Listings

108

133

+ 23.1%

1,443

1,479

+ 2.5%

Closed Sales

62

64

+ 3.2%

562

567

+ 0.9%

Closed Sales

98

136

+ 38.8%

1,006

1,210

+ 20.3%

Median Sales Price*

$364,500

409,000

+ 12.2%

$360,000

$390,000

+ 8.3%

Median Sales Price*

$324,944

338,250

+ 4.1%

$317,000

$325,000

+ 2.5%

Average Sales Price*

$429,576

$455,207

+ 6.0%

$443,161

$469,726

+ 6.0%

Average Sales Price*

$320,305

$369,406

+ 15.3%

$342,408

$366,241

+ 7.0%

96.0%

96.9%

+ 0.9%

95.8%

96.3%

+ 0.5%

Percent of Original List Price Received*

96.0%

97.0%

+ 1.0%

95.6%

96.8%

+ 1.3%

Days on Market Until Sale

46

41

- 10.9%

49

43

- 12.2%

Days on Market Until Sale

34

29

- 14.7%

47

40

- 14.9%

Inventory of Homes for Sale

221

82

- 62.9%

--

--

--

Inventory of Homes for Sale

390

151

- 61.3%

--

--

--

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

2019

2020

Percent Change

2019

2020

Percent Change

Key Metrics

2019

2020

Percent Change

2019

2020

Percent Change

New Listings

17

30

+ 76.5%

238

228

- 4.2%

New Listings

45

53

+ 17.8%

499

432

- 13.4%

Closed Sales

25

16

- 36.0%

199

165

- 17.1%

Closed Sales

29

39

+ 34.5%

384

365

- 4.9%

Median Sales Price*

$247,500

$217,500

- 12.1%

$207,000

$207,500

+ 0.2%

Median Sales Price*

$209,000

$225,000

+ 7.7%

$210,000

$214,900

+ 2.3%

Average Sales Price*

$263,905

$202,446

- 23.3%

$222,479

$205,199

- 7.8%

Average Sales Price*

$214,269

$219,362

+ 2.4%

$210,734

$215,588

+ 2.3%

100.1%

98.7%

- 1.4%

97.5%

96.9%

- 0.6%

Percent of Original List Price Received*

95.8%

98.5%

+ 2.8%

97.2%

97.3%

+ 0.1%

Days on Market Until Sale

16

12

- 25.0%

38

38

0.0%

Days on Market Until Sale

49

28

- 42.9%

43

47

+ 9.3%

Inventory of Homes for Sale

60

35

- 41.7%

--

--

--

Inventory of Homes for Sale

127

53

- 58.3%

--

--

--

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

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

$240,000

All MLS — West Ashley Area —

$350,000

$220,000

$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

$240,000

$220,000

$350,000

$300,000

All MLS — West Ashley Area —

$200,000

$180,000 $250,000

$160,000

$200,000

$150,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

$100,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of October 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$175,000 1-2010

$140,000

1-2012

1-2014

1-2016

1-2018

1-2020

$120,000 1-2010

1-2012

1-2014

1-2016

1-2018

1-2020

Current as of October 9, 2020. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2020 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

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