The Upstate SC

VOL12ISS2 2016

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Page 62 of 83

VOLUME 10—ISSUE 1 61 THE ORIGINAL RELOCATION GUIDE — UPSTATE SC | VOLUME 12 — ISSUE 2 UPSTATE REAL ESTATE present and has created competitive situations that have kept home prices up. Rental prices are also up, which may lure more people toward homeownership. New Listings were up 19.3 percent. Prices moved higher to more of a sellers' market as Median Sales Price was up 8.0 percent to $148,250. That being said, sellers should feel confident enough to list homes at fair prices and receive meaningful offers. It's still a healthy residential real estate and overall economic environment. However, there may be lingering worry over the availability of move-in ready homes to replace the home that was sold. One really bright note: building permits are trending upward. Another bit of good news for sellers is that year-over-year the average time on market fell from 120 days to just 104 in 2016. Though the smallest of the Upstate's 'Big Three", Anderson is still a nice sized city with a population of 28,000 people and 23 neighborhoods. Anderson is the 15th largest community in South Carolina. According to the Anderson market in July saw new home closings slide year-over-year. Quickly becoming a buyers' market, the average per- unit price of new homes was $142,504, compared with $213,839 last year. This followed a 5.4% decline in June from a year earlier. Average mortgage size on new homes went from $219,097 in June 2015 to $184,000 in June 2016.There was no change in the composition of the new home market with regard to the types of properties sold. Foreclosures and real estate owned (REO) closings continued to decline from a year earlier in July, but did not appear to be dragging the market. While the median home value in Anderson is now around $122,000, most real estate experts predict they will rise 3-4% within the next year. The median list price per square foot in Anderson is $91, which is still lower than the Greenville Metro average of $104. The median price of homes currently listed in Anderson is $161,777. Anderson has something to offer everyone in the housing market. In downtown you will find older homes on tree-lined streets. There are also dozens of new single-family housing developments in Anderson's suburban areas, offering everything from starter homes, apartments, condominiums and unique farmhouses to new homes in modern subdivisions and executive residences with country clubs and golf courses. Home sites are plentiful and priced reasonably; in keeping with the area's low cost of living. Anderson homes, like so many others in the Upstate, are located just minutes away from beautiful lakes, scenic mountains, resort golf communities, and diversity-filled downtown areas. Their Convention and Visitors Bureau perhaps says it best: "Find a perfect home away from home. With all the variety that Anderson has to offer, we are sure you will find exactly what you are looking for. While you are here, enjoy the genuine hospitality that is pure Anderson." No matter where you choose to live, no matter what type residence you choose, no matter what time of year you come, it will always feel like you've found your place in the sun. You've come home. You're in the Upstate now. []

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