September 2021 Real Estate Report | The Cassina Group

Page 1

SEPTEMBER 2021

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 2021

Local Market Update – September 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

34

35

+ 2.9%

358

339

- 5.3%

New Listings

26

27

+ 3.8%

257

222

- 13.6%

Closed Sales

19

28

+ 47.4%

158

314

+ 98.7%

Closed Sales

19

13

- 31.6%

157

198

+ 26.1%

Median Sales Price*

$1,035,000

$1,255,000

+ 21.3%

$790,000

$997,188

+ 26.2%

Median Sales Price*

$585,000

$579,000

- 1.0%

$526,000

$589,500

+ 12.1%

Average Sales Price*

$1,508,434

$1,439,071

- 4.6%

$1,195,319

$1,395,854

+ 16.8%

Average Sales Price*

$606,395

$656,654

+ 8.3%

$570,123

$613,615

+ 7.6%

92.1%

95.0%

+ 3.1%

90.3%

94.2%

+ 4.3%

Percent of Original List Price Received*

95.9%

96.3%

+ 0.4%

93.3%

96.1%

+ 3.0%

Days on Market Until Sale

116

91

- 21.6%

113

89

- 21.2%

Days on Market Until Sale

44

40

- 9.1%

55

63

+ 14.5%

Inventory of Homes for Sale

220

71

- 67.7%

--

--

--

Inventory of Homes for Sale

85

38

- 55.3%

--

--

--

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

42

19

- 54.8%

335

323

- 3.6%

New Listings

6

0

- 100.0%

35

37

+ 5.7%

Closed Sales

10

34

+ 240.0%

130

270

+ 107.7%

Closed Sales

0

5

--

18

28

+ 55.6%

Median Sales Price*

$435,000

$560,500

+ 28.9%

$587,500

$640,000

+ 8.9%

Median Sales Price*

$0

$365,000

--

$289,000

$442,000

+ 52.9%

Average Sales Price*

$468,050

$609,147

+ 30.1%

$793,541

$781,982

- 1.5%

Average Sales Price*

$0

$424,400

--

$386,306

$520,668

+ 34.8%

93.1%

94.6%

+ 1.6%

92.2%

94.3%

+ 2.3%

Percent of Original List Price Received*

0.0%

98.7%

--

94.9%

97.8%

+ 3.1%

Days on Market Until Sale

170

88

- 48.2%

130

97

- 25.4%

Days on Market Until Sale

0

61

--

75

38

- 49.3%

Inventory of Homes for Sale

191

95

- 50.3%

--

--

--

Inventory of Homes for Sale

20

4

- 80.0%

--

--

--

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 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

$700,000

$600,000

$600,000

$500,000

$500,000

$400,000

$400,000

$300,000

$300,000

$200,000

$200,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Charleston Peninsula —

All MLS — Upper Charleston Peninsula —

$500,000

$400,000

$1,000,000 $800,000

$300,000

$600,000 $400,000

$200,000

$200,000 $0 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of October 8, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of October 8, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – September 2021

Local Market Update – September 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

89

74

- 16.9%

873

801

- 8.2%

New Listings

119

83

- 30.3%

1,184

1,063

- 10.2%

Closed Sales

105

65

- 38.1%

712

749

+ 5.2%

Closed Sales

124

66

- 46.8%

933

975

+ 4.5%

Median Sales Price*

$645,000

$688,600

+ 6.8%

$608,000

$725,000

+ 19.2%

Median Sales Price*

$535,995

$672,608

+ 25.5%

$535,000

$630,000

+ 17.8%

Average Sales Price*

$853,608

$963,543

+ 12.9%

$741,020

$897,561

+ 21.1%

Average Sales Price*

$587,945

$736,825

+ 25.3%

$595,949

$712,188

+ 19.5%

96.1%

97.9%

+ 1.9%

95.7%

98.7%

+ 3.1%

Percent of Original List Price Received*

98.4%

99.7%

+ 1.3%

97.3%

100.8%

+ 3.6%

Days on Market Until Sale

50

17

- 66.0%

56

23

- 58.9%

Days on Market Until Sale

43

10

- 76.7%

58

17

- 70.7%

Inventory of Homes for Sale

180

55

- 69.4%

--

--

--

Inventory of Homes for Sale

194

68

- 64.9%

--

--

--

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.

* 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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

44

36

- 18.2%

392

478

+ 21.9%

New Listings

45

36

- 20.0%

348

293

- 15.8%

Closed Sales

58

47

- 19.0%

308

434

+ 40.9%

Closed Sales

39

26

- 33.3%

268

263

- 1.9%

Median Sales Price*

$266,250

$310,000

+ 16.4%

$249,950

$301,606

+ 20.7%

Median Sales Price*

$324,000

$426,250

+ 31.6%

$311,250

$337,000

+ 8.3%

Average Sales Price*

$362,046

$403,680

+ 11.5%

$313,762

$407,509

+ 29.9%

Average Sales Price*

$311,705

$413,551

+ 32.7%

$308,687

$345,832

+ 12.0%

96.2%

100.5%

+ 4.5%

96.2%

99.9%

+ 3.8%

Percent of Original List Price Received*

97.3%

99.7%

+ 2.5%

97.2%

100.8%

+ 3.7%

Days on Market Until Sale

51

9

- 82.4%

50

22

- 56.0%

Days on Market Until Sale

47

5

- 89.4%

56

13

- 76.8%

Inventory of Homes for Sale

64

29

- 54.7%

--

--

--

Inventory of Homes for Sale

52

21

- 59.6%

--

--

--

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 $800,000

* 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 —

$350,000

$700,000

$700,000

Rolling 12-Month Calculation

Townhouse-Condo Attached All MLS — Upper Mount Pleasant —

$600,000

$300,000 $600,000

All MLS — Upper Mount Pleasant —

$350,000

$300,000

$500,000 $250,000

$500,000

$250,000 $400,000

$400,000

$200,000

$200,000 $300,000

$300,000 $150,000

$200,000 $100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

$150,000

$200,000

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of October 8, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of October 8, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – September 2021

Local Market Update – September 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

27

20

- 25.9%

238

256

+ 7.6%

New Listings

4

3

- 25.0%

51

50

- 2.0%

Closed Sales

44

18

- 59.1%

195

215

+ 10.3%

Closed Sales

7

2

- 71.4%

37

37

0.0%

Median Sales Price*

$1,142,500

$1,387,500

+ 21.4%

$1,134,500

$1,650,500

+ 45.5%

Median Sales Price*

$1,925,000

$6,712,500

+ 248.7%

$2,195,000

$3,188,775

+ 45.3%

Average Sales Price*

$1,321,309

$1,730,861

+ 31.0%

$1,360,849

$1,966,828

+ 44.5%

Average Sales Price*

$1,992,143

$6,712,500

+ 236.9%

$2,309,122

$3,587,426

+ 55.4%

94.6%

100.5%

+ 6.2%

92.5%

97.4%

+ 5.3%

Percent of Original List Price Received*

89.5%

93.3%

+ 4.2%

91.4%

96.1%

+ 5.1%

Days on Market Until Sale

72

12

- 83.3%

109

29

- 73.4%

Days on Market Until Sale

120

22

- 81.7%

87

79

- 9.2%

Inventory of Homes for Sale

58

34

- 41.4%

--

--

--

Inventory of Homes for Sale

15

9

- 40.0%

--

--

--

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

14

8

- 42.9%

125

96

- 23.2%

New Listings

0

0

--

3

5

+ 66.7%

Closed Sales

18

11

- 38.9%

103

95

- 7.8%

Closed Sales

0

1

--

3

4

+ 33.3%

Median Sales Price*

$545,000

$820,000

+ 50.5%

$574,000

$725,000

+ 26.3%

Median Sales Price*

$0

$1,550,000

--

$1,600,000

$580,000

- 63.8%

Average Sales Price*

$670,501

$884,591

+ 31.9%

$649,529

$760,471

+ 17.1%

Average Sales Price*

$0

$1,550,000

--

$1,264,077

$821,250

- 35.0%

95.7%

96.9%

+ 1.3%

94.0%

97.9%

+ 4.1%

Percent of Original List Price Received*

0.0%

96.9%

--

89.5%

86.6%

- 3.2%

Days on Market Until Sale

132

25

- 81.1%

109

69

- 36.7%

Days on Market Until Sale

0

148

--

353

54

- 84.7%

Inventory of Homes for Sale

49

20

- 59.2%

--

--

--

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

Historical Median Sales Price

Rolling 12-Month Calculation

Townhouse-Condo Attached

Single-Family Detached

All MLS — Isle of Palms —

$1,750,000

$700,000

$1,250,000

$600,000

$1,000,000

$500,000

$750,000

$400,000

$500,000

$300,000

$250,000

$200,000

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of October 8, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

Rolling 12-Month Calculation

Townhouse-Condo Attached

Single-Family Detached All MLS — Isle of Palms —

$800,000

$1,500,000

$0 1-2011

* 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.

All MLS — Sullivan's Island —

$4,000,000

$4,000,000

$3,000,000

$3,000,000

$2,000,000

$2,000,000

$1,000,000

$1,000,000

$0 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

All MLS — Sullivan's Island —

$0 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of October 8, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.


Local Market Update – September 2021

Local Market Update – September 2021

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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

66

62

- 6.1%

666

613

- 8.0%

New Listings

131

152

+ 16.0%

1,470

1,267

- 13.8%

Closed Sales

66

54

- 18.2%

570

547

- 4.0%

Closed Sales

135

122

- 9.6%

1,208

1,039

- 14.0%

Median Sales Price*

$407,000

$453,000

+ 11.3%

$389,500

$450,000

+ 15.5%

Median Sales Price*

$335,000

$415,000

+ 23.9%

$324,868

$386,875

+ 19.1%

Average Sales Price*

$451,306

$513,458

+ 13.8%

$471,005

$545,071

+ 15.7%

Average Sales Price*

$363,983

$445,596

+ 22.4%

$365,264

$441,353

+ 20.8%

97.0%

100.0%

+ 3.1%

96.3%

99.2%

+ 3.0%

Percent of Original List Price Received*

97.0%

97.4%

+ 0.4%

96.8%

99.2%

+ 2.5%

Days on Market Until Sale

40

11

- 72.5%

43

19

- 55.8%

Days on Market Until Sale

28

16

- 42.9%

40

18

- 55.0%

Inventory of Homes for Sale

84

46

- 45.2%

--

--

--

Inventory of Homes for Sale

186

123

- 33.9%

--

--

--

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.

* 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

2020

2021

Percent Change

2020

2021

Percent Change

Key Metrics

2020

2021

Percent Change

2020

2021

Percent Change

New Listings

30

21

- 30.0%

228

240

+ 5.3%

New Listings

53

37

- 30.2%

433

452

+ 4.4%

Closed Sales

16

31

+ 93.8%

166

229

+ 38.0%

Closed Sales

40

52

+ 30.0%

367

414

+ 12.8%

Median Sales Price*

$217,500

$276,500

+ 27.1%

$207,250

$228,000

+ 10.0%

Median Sales Price*

$225,000

$268,750

+ 19.4%

$215,000

$245,250

+ 14.1%

Average Sales Price*

$202,446

$257,674

+ 27.3%

$204,804

$243,284

+ 18.8%

Average Sales Price*

$219,503

$270,529

+ 23.2%

$215,793

$243,300

+ 12.7%

98.7%

101.0%

+ 2.3%

96.9%

99.7%

+ 2.9%

Percent of Original List Price Received*

98.5%

99.5%

+ 1.0%

97.3%

100.1%

+ 2.9%

Days on Market Until Sale

12

6

- 50.0%

39

20

- 48.7%

Days on Market Until Sale

28

20

- 28.6%

47

17

- 63.8%

Inventory of Homes for Sale

40

21

- 47.5%

--

--

--

Inventory of Homes for Sale

63

31

- 50.8%

--

--

--

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 —

$500,000

Townhouse-Condo Attached

Single-Family Detached All MLS — James Island —

$275,000

Rolling 12-Month Calculation

All MLS — West Ashley Area —

$400,000

$250,000 $225,000

$225,000 $300,000

$200,000 $300,000

$200,000 $175,000

$250,000 $175,000

$150,000

$200,000

$200,000

$150,000

$125,000 $100,000 1-2011

$275,000

$250,000

$350,000

$400,000

All MLS — West Ashley Area —

1-2013

1-2015

1-2017

1-2019

1-2021

$100,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of October 8, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 ShowingTime. | Information deemed reliable but not guaranteed. Consult your agent for market specifics.

$150,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

$125,000 1-2011

1-2013

1-2015

1-2017

1-2019

1-2021

Current as of October 8, 2021. All data from the Charleston Trident Multiple Listing Service. | Sponsored by South Carolina REALTORS®. Report © 2021 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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