Posted by Jonathan Kostyra on Sunday, December 16th, 2012 at 5:45pm.
The residential downtown Greenville Real Estate market has fared well this year. Many new home buyers coming from other parts of the country are choosing to live close to Greenville's popular downtown. There is also local demand as a good number of locals are relocating from the burbs to downtown Greenville.
From our observation at Carolina Realty, the downtown Greenville single family home neighborhoods continue to have steady and growing demand as we push into late 4th quarter. Greenville's trend seems to be mirroring the national trend right now with low interest rates continuing to lift the real estate markets. It appears that the velocity of money from the Fed’s low interest rates was slow moving at first as we came out of the dip/recession, but now, that cheap mortgage money is helping stimulate the real estate market. Additionally, Greenville is probably faring a little better than some areas due to the steady influx of relocations to the area.
Neighborhoods in downtown Greenville like Augusta Road, Alta Vista, Cleveland Forest, the Greenville Country Club, North Main, and East Park all seem to be hot spots for buying/viewing activity. The downtown Greenville Condos market seems to have a low inventory right now with many of the great units selling earlier and a lack of really nice units at moderate price point right now. Our downtown Greenville Sc Condos page is here. You can view all the active listings here.
Overall as a whole, this year real estate in Greenville SC has appreciated about 4.5%. The number of units sold in Nov.2012 is 24.7% more than Nov. 2011. So we are certainly seeing improvement and home this carries forward into next year and beyond!