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SEPTEMBER 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 – September 2018

Local Market Update – September 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 September

Single-Family Detached

Year to Date

September

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

20

32

+ 60.0%

222

309

+ 39.2%

New Listings

26

20

- 23.1%

180

213

+ 18.3%

Closed Sales

11

9

- 18.2%

180

168

- 6.7%

Closed Sales

13

9

- 30.8%

122

132

+ 8.2%

Median Sales Price*

$715,000

$1,200,000

+ 67.8%

$895,000

$980,000

+ 9.5%

Median Sales Price*

$472,000

$440,000

- 6.8%

$457,750

$507,000

+ 10.8%

Average Sales Price*

$948,502

$1,592,070

+ 67.9%

$1,297,164

$1,329,796

+ 2.5%

Average Sales Price*

$634,328

$461,667

- 27.2%

$505,729

$516,132

+ 2.1%

93.5%

96.4%

+ 3.1%

92.5%

92.0%

- 0.5%

Percent of Original List Price Received*

96.9%

92.4%

- 4.6%

95.0%

93.7%

- 1.4%

Days on Market Until Sale

49

38

- 22.4%

103

90

- 12.6%

Days on Market Until Sale

17

35

+ 105.9%

53

52

- 1.9%

Inventory of Homes for Sale

109

162

+ 48.6%

--

--

--

Inventory of Homes for Sale

62

80

+ 29.0%

--

--

--

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

31

24

- 22.6%

255

327

+ 28.2%

New Listings

4

2

- 50.0%

37

44

+ 18.9%

Closed Sales

16

9

- 43.8%

162

132

- 18.5%

Closed Sales

1

3

+ 200.0%

21

23

+ 9.5%

Median Sales Price*

$598,000

$409,000

- 31.6%

$564,000

$565,000

+ 0.2%

Median Sales Price*

$235,000

$270,000

+ 14.9%

$346,000

$375,000

+ 8.4%

Average Sales Price*

$745,438

$438,500

- 41.2%

$684,292

$737,344

+ 7.8%

Average Sales Price*

$235,000

$295,000

+ 25.5%

$352,424

$462,241

+ 31.2%

92.8%

95.0%

+ 2.4%

93.7%

94.4%

+ 0.7%

Percent of Original List Price Received*

92.2%

98.7%

+ 7.0%

94.5%

95.5%

+ 1.1%

Days on Market Until Sale

81

48

- 40.7%

93

86

- 7.5%

Days on Market Until Sale

34

4

- 88.2%

64

40

- 37.5%

Inventory of Homes for Sale

111

150

+ 35.1%

--

--

--

Inventory of Homes for Sale

15

17

+ 13.3%

--

--

--

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 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 October 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 October 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 – September 2018

Local Market Update – September 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 September

Single-Family Detached

Year to Date

September

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

85

70

- 17.6%

947

894

- 5.6%

New Listings

97

121

+ 24.7%

1,264

1,224

- 3.2%

Closed Sales

62

58

- 6.5%

663

647

- 2.4%

Closed Sales

92

71

- 22.8%

813

766

- 5.8%

Median Sales Price*

$537,500

$556,500

+ 3.5%

$525,000

$569,450

+ 8.5%

Median Sales Price*

$514,587

$514,000

- 0.1%

$476,500

$520,000

+ 9.1%

Average Sales Price*

$634,489

$673,906

+ 6.2%

$647,256

$672,233

+ 3.9%

Average Sales Price*

$517,189

$541,435

+ 4.7%

$523,552

$570,845

+ 9.0%

94.9%

94.2%

- 0.7%

95.4%

95.4%

0.0%

97.1%

95.4%

- 1.8%

97.0%

96.4%

- 0.6%

Days on Market Until Sale

57

50

- 12.3%

55

51

- 7.3%

Days on Market Until Sale

77

75

- 2.6%

76

75

- 1.3%

Inventory of Homes for Sale

285

238

- 16.5%

--

--

--

Inventory of Homes for Sale

458

406

- 11.4%

--

--

--

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

September

Year to Date

September

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

33

+ 32.0%

366

371

+ 1.4%

New Listings

20

42

+ 110.0%

353

388

+ 9.9%

Closed Sales

27

19

- 29.6%

355

281

- 20.8%

Closed Sales

31

39

+ 25.8%

285

279

- 2.1%

Median Sales Price*

$260,000

$231,000

- 11.2%

$233,000

$240,000

+ 3.0%

Median Sales Price*

$305,000

$345,287

+ 13.2%

$311,000

$309,500

- 0.5%

Average Sales Price*

$362,803

$347,153

- 4.3%

$336,144

$328,086

- 2.4%

Average Sales Price*

$299,445

$339,077

+ 13.2%

$300,849

$297,033

- 1.3%

94.7%

95.6%

+ 1.0%

96.5%

96.8%

+ 0.3%

Percent of Original List Price Received*

97.3%

98.3%

+ 1.0%

97.5%

97.5%

0.0%

Days on Market Until Sale

42

31

- 26.2%

53

45

- 15.1%

Days on Market Until Sale

55

49

- 10.9%

44

49

+ 11.4%

Inventory of Homes for Sale

79

83

+ 5.1%

--

--

--

Inventory of Homes for Sale

78

102

+ 30.8%

--

--

--

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 $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 October 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 October 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 – September 2018

Local Market Update – September 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 September

Single-Family Detached

Year to Date

September

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

19

18

- 5.3%

222

220

- 0.9%

New Listings

3

6

+ 100.0%

65

72

+ 10.8%

Closed Sales

13

11

- 15.4%

158

145

- 8.2%

Closed Sales

6

3

- 50.0%

48

52

+ 8.3%

Median Sales Price*

$715,000

$985,000

+ 37.8%

$822,500

$930,000

+ 13.1%

Median Sales Price*

$955,000

$2,050,000

+ 114.7%

$1,700,000

$1,981,800

+ 16.6%

Average Sales Price*

$848,296

$994,007

+ 17.2%

$1,038,107

$1,266,327

+ 22.0%

Average Sales Price*

$1,191,042

$1,859,750

+ 56.1%

$2,027,568

$2,183,069

+ 7.7%

94.5%

91.5%

- 3.2%

91.9%

92.0%

+ 0.1%

Percent of Original List Price Received*

86.8%

96.0%

+ 10.6%

90.5%

94.0%

+ 3.9%

Days on Market Until Sale

69

177

+ 156.5%

132

118

- 10.6%

Days on Market Until Sale

214

44

- 79.4%

142

81

- 43.0%

Inventory of Homes for Sale

145

114

- 21.4%

--

--

--

Inventory of Homes for Sale

29

22

- 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.

* 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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

4

9

+ 125.0%

105

104

- 1.0%

New Listings

0

0

--

2

6

+ 200.0%

Closed Sales

9

7

- 22.2%

72

75

+ 4.2%

Closed Sales

0

0

--

3

2

- 33.3%

Median Sales Price*

$450,000

$639,000

+ 42.0%

$520,500

$545,000

+ 4.7%

Median Sales Price*

$0

$0

--

$512,500

$487,500

- 4.9%

Average Sales Price*

$559,167

$760,143

+ 35.9%

$536,345

$592,016

+ 10.4%

Average Sales Price*

$0

$0

--

$475,500

$487,500

+ 2.5%

93.1%

93.6%

+ 0.5%

94.4%

94.2%

- 0.2%

Percent of Original List Price Received*

0.0%

0.0%

--

90.4%

97.5%

+ 7.9%

Days on Market Until Sale

111

138

+ 24.3%

144

96

- 33.3%

Days on Market Until Sale

0

0

--

216

13

- 94.0%

Inventory of Homes for Sale

63

63

0.0%

--

--

--

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 October 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 October 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 – September 2018

Local Market Update – September 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 September

Single-Family Detached

Year to Date

September

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

53

53

0.0%

797

740

- 7.2%

New Listings

113

108

- 4.4%

1,383

1,408

+ 1.8%

Closed Sales

37

51

+ 37.8%

571

560

- 1.9%

Closed Sales

97

78

- 19.6%

1,080

1,074

- 0.6%

Median Sales Price*

$370,000

$398,900

+ 7.8%

$349,900

$370,000

+ 5.7%

Median Sales Price*

$285,000

$300,150

+ 5.3%

$291,000

$310,000

+ 6.5%

Average Sales Price*

$424,648

$466,016

+ 9.7%

$409,712

$438,681

+ 7.1%

Average Sales Price*

$314,819

$338,105

+ 7.4%

$316,866

$348,031

+ 9.8%

98.5%

97.0%

- 1.5%

96.1%

97.1%

+ 1.0%

Percent of Original List Price Received*

96.4%

95.4%

- 1.0%

96.7%

96.7%

0.0%

Days on Market Until Sale

46

31

- 32.6%

43

37

- 14.0%

Days on Market Until Sale

29

33

+ 13.8%

33

37

+ 12.1%

Inventory of Homes for Sale

198

167

- 15.7%

--

--

--

Inventory of Homes for Sale

314

315

+ 0.3%

--

--

--

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

2017

2018

Percent Change

2017

2018

Percent Change

Key Metrics

2017

2018

Percent Change

2017

2018

Percent Change

New Listings

18

18

0.0%

206

202

- 1.9%

New Listings

35

47

+ 34.3%

413

426

+ 3.1%

Closed Sales

18

7

- 61.1%

186

161

- 13.4%

Closed Sales

26

35

+ 34.6%

370

353

- 4.6%

Median Sales Price*

$209,250

$220,000

+ 5.1%

$186,250

$198,000

+ 6.3%

Median Sales Price*

$168,950

$185,000

+ 9.5%

$180,000

$182,750

+ 1.5%

Average Sales Price*

$229,278

$194,643

- 15.1%

$192,795

$197,341

+ 2.4%

Average Sales Price*

$188,466

$181,497

- 3.7%

$181,500

$184,048

+ 1.4%

96.8%

98.5%

+ 1.8%

96.6%

96.7%

+ 0.1%

Percent of Original List Price Received*

97.3%

96.9%

- 0.4%

97.7%

97.5%

- 0.2%

Days on Market Until Sale

39

10

- 74.4%

44

45

+ 2.3%

Days on Market Until Sale

28

27

- 3.6%

35

37

+ 5.7%

Inventory of Homes for Sale

49

48

- 2.0%

--

--

--

Inventory of Homes for Sale

70

83

+ 18.6%

--

--

--

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

* 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 October 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 October 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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September 2018 Real Estate Report | Presented by The Cassina Group  

September 2018 Real Estate Report | Presented by The Cassina Group  

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