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www.zillow.com/research/ APRIL2019 Charleston Metro National Home Values Current: $226,800 Monthly Change: -0.1% Quarterly Change: 0.4% Annual Change: 6.1% Negative Equity*: 8.2% Charleston Home Values Current: $255,100 Monthly Change: -0.2% Quarterly Change: 0.4% Annual Change: 4.5% Negative Equity*: 5.9% Home Values Forecast (next 12 months) National: 2.8% Charleston Metro: 2% Major Cities - Home Values Charleston Current: $319,100 Monthly Change: -0.7% Annual Change: 3.8% Summerville Current: $219,800 Monthly Change: 0.2% Annual Change: 5.7% North Charleston Current: $170,900 Monthly Change: -0.3% Annual Change: 6.9% Mount Pleasant Current: $449,400 Monthly Change: -0.5% Annual Change: 1.6% Goose Creek Current: $187,700 Monthly Change: -0.2% Annual Change: 7.4% Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community City ZHVI Year-over-Year -2.1% -2.0% - -2.0% 1.6% - 3.2% 3.3% - 5.7% 5.8% - 7.8% 7.9% - 14.2% 14.3% - 21.3% Home Values (ZHVI) Increasing Values: 67.3% Decreasing Values: 24.1% Fall From Peak: -0.2% Peak ZHVI Date: 2019-03 Peak ZHVI: $255,500 Rent Zillow Rent Index: $1,650 Monthly Change: 0.3% Annual Change: 3.3% Rent List Price: $1,800 Rent List/Sq. Ft.: $1.3 Sales Median Sale Price: $– Monthly Change: –% Annual Change: –% Sale Price/Sq. Ft.: $– Sale-to-list Price Ratio: Sold for a Loss/Gain: –%/–% Listings Median List Price: $339,000 Monthly Change: 0.3% Annual Change: 2.7% List Price/Sq. Ft.: $173 Listings with Price Cut: 19.7% Amount of Price Cut: 2% Foreclosures Homes Foreclosed: –/10, 000 Monthly Change: Annual Change: Foreclosure Resales: –% Monthly Change: –pp Annual Change: –pp How do we track home values? To track home values, we use the Zillow Home Value Index (ZHVI). The ZHVI is the mid-point of estimated home values for the area. Half the estimated home values are above this number and half are below. * Negative equity data is from 2018Q2.
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APRIL2019 Charleston Metrofiles.zillowstatic.com/research/public/realestate/ZHVI...Survey, which asks more than 100 leading economists, real estate experts and investment and market

May 29, 2020

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Page 1: APRIL2019 Charleston Metrofiles.zillowstatic.com/research/public/realestate/ZHVI...Survey, which asks more than 100 leading economists, real estate experts and investment and market

www.zillow.com/research/

APRIL2019 Charleston Metro

National Home Values

Current: $226,800Monthly Change: -0.1%Quarterly Change: 0.4%Annual Change: 6.1%Negative Equity*: 8.2%

Charleston Home Values

Current: $255,100Monthly Change: -0.2%Quarterly Change: 0.4%Annual Change: 4.5%Negative Equity*: 5.9%

Home Values Forecast

(next 12 months)

National: 2.8%Charleston Metro: 2%

Major Cities - Home Values

CharlestonCurrent: $319,100Monthly Change: -0.7%Annual Change: 3.8%

SummervilleCurrent: $219,800Monthly Change: 0.2%Annual Change: 5.7%

North CharlestonCurrent: $170,900Monthly Change: -0.3%Annual Change: 6.9%

Mount PleasantCurrent: $449,400Monthly Change: -0.5%Annual Change: 1.6%

Goose CreekCurrent: $187,700Monthly Change: -0.2%Annual Change: 7.4%

Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community

City ZHVI Year-over-Year-2.1% -2.0% - -2.0% 1.6% - 3.2% 3.3% - 5.7% 5.8% - 7.8% 7.9% - 14.2% 14.3% - 21.3%

Home Values (ZHVI)Increasing Values: 67.3%Decreasing Values: 24.1%Fall From Peak: -0.2%Peak ZHVI Date: 2019-03Peak ZHVI: $255,500

RentZillow Rent Index: $1,650Monthly Change: 0.3%Annual Change: 3.3%

Rent List Price: $1,800Rent List/Sq. Ft.: $1.3

SalesMedian Sale Price: $–Monthly Change: –%Annual Change: –%

Sale Price/Sq. Ft.: $–Sale-to-list Price Ratio: –Sold for a Loss/Gain: –%/–%

ListingsMedian List Price: $339,000Monthly Change: 0.3%Annual Change: 2.7%

List Price/Sq. Ft.: $173Listings with Price Cut: 19.7%Amount of Price Cut: 2%

ForeclosuresHomes Foreclosed: –/10, 000Monthly Change: –Annual Change: –

Foreclosure Resales: –%Monthly Change: –ppAnnual Change: –pp

How do we track home values? Totrack home values, we use the ZillowHome Value Index (ZHVI). The ZHVI isthe mid-point of estimated home valuesfor the area. Half the estimated homevalues are above this number and halfare below.

* Negative equity data is from 2018Q2.

Page 2: APRIL2019 Charleston Metrofiles.zillowstatic.com/research/public/realestate/ZHVI...Survey, which asks more than 100 leading economists, real estate experts and investment and market

APRIL2019

*The top 20 largest cities and top 10 (or all) counties within the metro are listed. Additional counties, cities, neighborhoods and ZIP codes may be

available online at www.zillow.com/research/data by emailing [email protected]

Zillow Research:Zillow R© is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the placethey call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics andanalytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housingdata and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price ExpectationsSurvey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow HomeValue Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence inlocal housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), andheadquartered in Seattle.

www.zillow.com/research/

Largest Cities Covered by Zillow

Hom

eValues-ZHVI($)

ZHVIMoM

(%)

ZHVIQoQ

(%)

ZHVIYoY

(%)

ZHVIPeak($)

PeakMon

th

Change

from

Peak(%

)

Rents-ZRI($)

ZRIMoM

(%)

ZRIQoQ

(%)

ZRIYoY

(%)

ForecastYoY

(%)

NegativeEquity(%

)

Bonneau 187,600 -0.1 0.4 21.3 1,277 0.7 1.6 0.2 9.1 7.3Charleston 319,100 -0.7 -1 3.8 1,873 0.6 1.2 2.7 0.4 4.8Cross 1,176 0.8 1.9 6.3Dorchester 1,373 -0.1 0.2 3 35.3Folly Beach 753,400 -0.3 0.6 14.2 2,702 0.1 -0.4 0.3 5.5Goose Creek 187,700 -0.2 0.4 7.4 1,359 0.5 1 3 3.8 7.6Hanahan 237,500 0 0.2 4.7 1,546 0.2 0.9 3.4 1.4 6.4Hollywood 281,000 0.6 2.1 10 1,873 -0.2 -0.6 6.2 6.1 6.8Huger 237,500 -0.8 0.7 12.2 1,461 0.9 2.2 -2 7.6 8.7Isle of Palms 815,700 -0.2 -0.1 6.8 3,224 0.5 1.9 7.8 2.8 5Ladson 168,400 -0.2 0.5 7.8 1,278 0.7 1.8 2.8 3.8 7Moncks Corner 218,800 0.1 0.5 5.2 1,429 0.6 1.5 4 2.8 6.4Mount Pleasant 449,400 -0.5 -0.2 1.6 2,386 0.4 1.1 2.2 0.1 3.8North Charleston 170,900 -0.3 -0.1 6.9 1,360 0.4 0.8 3.8 2.7 8.4Ravenel 257,900 -0.5 -1.4 7.3 1,727 -0.3 -0.3 4.6 1.7 4.5Ridgeville 207,100 -1.4 -1.9 4.8 1,397 0.4 0.9 3.6 -0.3 10.6Saint George 134,700 -3.2 -2 11.3 1,336 -0.2 -0.2 4.9 3 11.8Saint Stephen 1,201 0.9 1.4 -0.2Summerville 219,800 0.2 1 5.7 1,502 0.3 0.7 3.5 3.1 6.3Wadmalaw Island 392,300 -1.1 1 9 1,985 0.3 0.6 10 4.4 4.5

Largest Counties Covered by Zillow

Hom

eValues-ZHVI($)

ZHVIMoM

(%)

ZHVIQoQ

(%)

ZHVIYoY

(%)

ZHVIPeak($)

PeakMon

th

Change

from

Peak(%

)

Rents-ZRI($)

ZRIMoM

(%)

ZRIQoQ

(%)

ZRIYoY

(%)

ForecastYoY

(%)

NegativeEquity(%

)Berkeley County 204,100 0 0.7 7.9 1,397 0.5 0.9 3.1 4Charleston County 330,800 -0.8 -0.9 2.7 1,906 0.4 1 3.4 0Dorchester County 214,700 0.1 1 6.2 1,495 0.2 0.5 3.7 3.3