The Cassina Group Closes Over $1 Billion in Sales Over Past Two Years

CHARLESTON, SC USA – The Cassina Group, Charleston’s #1 boutique real estate firm, has closed over $1 billion in sales over the past two years.  The company’s combined sales volume for 2021 and 2022 totals $1,070,975,059, representing a record-breaking two years for the company.  This is an especially impressive feat given that the powerhouse firm has just 43 REALTORS®. 

“We could not be more proud of our REALTORS®,” said Owen Tyler, managing broker and partner at The Cassina Group. “They are highly educated and knowledgeable about the ever-changing market, working tirelessly day in and day out to provide the finest service to our wonderful clients.  We are so grateful to all 419 clients who entrusted us in the home buying or selling process this year and look forward to continued success in 2023.”

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2023 Local Real Estate Market Predictions 

The local real estate market finished strong in 2022, with Lower Mt. Pleasant seeing a 20% increase in home prices over this time last year (click for more details).  Market indicators suggest 2023 will be no different.  Here are some take-aways from experts as well as my predictions for the upcoming year:  

  • Inventory will remain relatively low
  • Prices will remain steady, however, sellers will find that an aspirational sales price may need to be adjusted down to fit the market
  • Interest rates will continue to vary
  • Out of town buyers will still move to Charleston for its amenities, weather, food, lifestyle and low taxes
  • Multiple offers are on the decline
  • Days on market will likely increase and buyers will have an opportunity to take a breath

The Real Estate market is local, down to your neighborhood, down to your street. I specialize in this market and I’m happy to provide expert knowledge based on data and years of experience. Please contact me at Jackie@TheCassinaGroup.com if I can help!

No-Brainer Tips To Increase Your Home Value

It’s always important to maintain your home, so here are my top picks of tasks that are proven to increase your home value over time.  

​*Upgrade to energy-efficient ​appliances, smart technology and high impact windows

Energy efficiency is​ an important factor of any home, so when it’s time to upgrade appliances, technology and windows, make efficiency a priority.  Insulating the attic and encapsulating the crawl space is also a worthy choice. Consider implementing smart door locks, thermostats, lights, etc. These investments will pay off over time and will have a positive impact when and if you decide to sell.   ​ 

​*Create curb appeal and additional living space with low-maintenance landscaping

First impressions are key to buyers, and even if you are not selling, you will love the look of lush, low-maintenance landscaping that stays green year-round.  Think about your yard as additional living space by adding covered seating areas, a paved courtyard, fire pit and more. Outdoor showers are also a plus in the Lowcountry!

*Update finishes​ and fixtures​

​Updating light fixtures, faucets, ​d​rawer pull​ and door knobs s​ can give your home ​a new, trendy feel.  These small updates don’t cost a lot and will freshen up your space in an instant!  

*Paint Exterior and Interior

Painting the exterior of your home is just good maintenance and should be done regularly. When it comes to your interior, there is no investment with a bigger “wow” factor than a fresh coat of paint. If considering selling, neutral colors are always advised.

When possible, I do advise hiring professionals. If I can help provide a list of trusted resources, let me know by reaching out at Jackie@TheCassinaGroup.com

Considering a Home Warranty?

If you are considering the benefits of a home warranty, Choice Home Warranty is a great resource. Their service comes in handy when it comes to appliances/ systems breaking down and I’ve had clients who have been happy with them in the past. For more info, contact Choice Home Warranty at 888-275-2980 for more info. Hope this is helpful!

Jackie Kelly, REALTOR- The Cassina Group

The Cassina Group, 309 Coleman Blvd, Mt. Pleasant 29464

For my final 2022 Reasons To Love The Old Village post, I am going with ME! Probably because I am the only one who reads this stuff! I’ve been a top producer in The Old Village/ Old Mt. Pleasant neighborhood for over 20 years. If I can help you, please reach out to me at Jackie@TheCassinaGroup.com and to see a complete list of homes for sale, visit www.SearchOldVillage.com. Thanks and see you around the hood!

Can you help me find these homes?

I have buyers teed up and ready to find their dream home, but we have seen everything on the market and not found the match.

*James Island- single family home- under $400,000

*Old Village Harborfront with deep water dock- No specific price range, can be renovated or not, will consider all options as long as it has a dock

*Shem Creek with dock or views- $5 million price point

*Sullivan’s Island, large/ private lot with tons of trees, pool optional, prefers renovated or newer home, interior or on the water. No specific price

*Coleman Corridor- in need of renovation- $750-850,000 price point

If you know of any of these home, please reach out (or have your Realtor reach out) to me at Jackie@TheCassinaGroup.com. This is not a solicitation of listings, I represent buyers who are searching for these specific homes. Thanks!

10 Best Real Estate Agent For Client Satisfaction

Receiving an award as a Top10 SC Agent- based on Customer Satisfaction is truly amazing and I’m grateful to my clients who nominated and voted for me! This is sincerely a fulfilling moment in my career, because as crazy as this profession can be, my one constant is my relationship with my clients. From my heart, thanks! Super honored!!! xxoo

If I can help you with your real estate needs, please reach out as Jackie@TheCassinaGroup.com.

Is The Market Stabilizing?

Article provided by The Post & Courier

Interesting article by Warren Wise with The Post & Courier. In short he states that the median price for a house in the Charleston area is about $400,000, which is up $50,000 over the past year, and $120,000 since the start of the pandemic.

The article goes on to reference my (extremely knowledgeable) Broker-In- Charge, Owen Tyler, who indicates that the market appears to be stabilizing. And by that, he is referring to less multiple offers, more days on market, and less overall transactions. Prices have not leveled off and according to the data, that s not expected to happen in the near future.

The single most important thing to remember when it comes to understanding the market, is that all real estate is local, down to your neighborhood… down to your street. I specialize in this local market, so if I can help answer any questions, please feel free to reach out to me at Jackie@TheCassinaGroup.com.

Market Update

statistics provided by SCRealtors.org

Below is a recap of the Charleston Real Estate Market, information provided by the South Carolina Association of Realtors and reflects July 2022.

The U.S. housing market has continued to cool, as rising mortgage rates and record high sales prices have stifled affordability, weakening demand and pricing out a multitude of buyers. Nationally, median household income has failed to keep pace with increasing mortgage payments, with the costs of buying a home about 80% more expensive now than they were just three summers ago, according to the National Association of REALTORS® (NAR).

As more and more prospective buyers find their home purchase plans delayed, many are turning to the rental market, where competition has intensified due to increased demand.

  • New Listings were down 7.9 percent to 11,981
  • Pending Sales decreased 22.0 percent to 8,014
  • Inventory grew 36.3 percent to 18,377 units
  • Prices moved higher as Median Sales Price was up 17.6 percent to $323,272
  • Days on Market decreased 2.4 percent to 40 days
  • Months Supply of Inventory was up 46.2 percent to 1.9 months

At a time of year when home buying activity is typically very strong, soaring homeownership costs have caused home sales to decline nationwide for the fifth consecutive month, with existing-home sales falling 5.4% month-to-month and14.2% year-over-year as of last measure, according to NAR.

But there is a bright spot. Inventory of existing homes has continued to climb this summer, with 1.26 million homes available at the beginning of July, equivalent to a 3 months’ supply. And despite the summer slowdown, homes are still selling quickly, with the typical home staying on market an average of 14 days.

If you have questions about buying or selling, please reach out to me at Jackie@thecassinagroup.com.

Mortgage Rates Topping out?

Interesting quick read by Laurence Yun, the Chief Economist for the National Association of Realtors: Slowing Inflation Suggests Mortgage Rates Have Topped Out.

NAR’s chief economist shares what now needs to happen to bring down borrowing costs and increase affordability for home buyers.

August 11, 2022

Melissa Dittmann Tracey

Inflation eased slightly in July, which could bode well for the housing market in the months ahead, says Lawrence Yun, chief economist for the National Association of REALTORS®. Overall, inflation slowed from 9.1% in June to 8.5% in July, but prices for food and rent continued to climb, the Bureau of Labor Statistics’ Consumer Price Index showed Wednesday.

Still, the slight deceleration suggests that consumer price inflation may have peaked, which suggests that mortgage rates also may have peaked, Yun says. The level of inflation “is still high and uncomfortable but may indicate the start of a steady retreat,” Yun adds.

Gasoline prices posted a 7% monthly decline, a significant contributor to the recent moderation in inflation. However, prices remain 44% higher than a year ago and 104% higher than two years ago. Also, the CPI showed that the rising costs of food, up 10.9% in July, continue to hit many Americans’ pocketbooks. That’s the highest increase in food prices since May 1979. Household energy costs were up 20.5%, and furniture costs were up 14.8%.

Rents continued to rise in July, up 6.3% compared to a year prior, the CPI showed. “That is a testament to the ongoing housing shortage,” Yun says.

But could the worst of sky-high inflation be behind Americans? Yun thinks so. “If there is a sustained decline in gasoline prices and more production of apartments and single-family homes, consumer prices will pull back, encouraging the Federal Reserve policy to be less aggressive,” Yun says. “Mortgage rates will fall.”

On Wednesday morning, the 10-year Treasury yield stood at 2.7%. “That should translate into 30-year mortgage rates pulling back to under 5%,” Yun says. “Some recent potential home buyers who were pushed out of the market may now be able to get back in and qualify for a mortgage.”

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