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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