Stats: In-town prices continue to explode, suburbs remain flat
March 8, 2017 | Columbia Scoop

A look at the data (below) from the first two months of 2017 show the housing market in Columbia, S.C., continues to make strong gains in most sectors.

The trends — strong value growth and tight inventory — are most evident among in-town neighborhoods that continue to outperform the suburban areas of both Richland and Lexington counties.

As we move toward the spring and summer seasons, we do expect to see the inventory begin to grow, but still count on an extremely competitive market if you live in-town. And as the media reported this past week, interest rates are going to tick up sooner than expected. That’ll mean an even larger rush of buyers going into the busiest time of year.

Some of the biggest takeaways from this review of numbers:

  • Shandon home values for the first two months of 2017 average around $388,000. During the first two months of 2016 … that number was around $280,000!
  • Melrose Heights might be the new Shandon before too long. We started noticing double-digit gains in value there last fall, and that’s only getting stronger. Great neighborhood to make an investment, it would appear.
  • Earlewood/Elmwood  continues to show slow, but steady and rising prices.
  • If you’re considering selling, NOW IS THE TIME! (And that’s not just a sales pitch.)

We’ll continue monitoring the market so you don’t have to. And be sure to call one of our sales agents if you have questions or want more information about a specific area not listed below.

Marketwide Stats - February 2017

Marketwide StatsFeb. 2017Feb. 2016% Change2017 YTDVs. 2016 Same Time% Change
# New Listings1,5171,422+6.7%2,9122,818+3.34%
# Under Contract1,694---------------
# Sold724755-4.1%1,4761,444+2.2%
Avg. Sales Price$175,344$182,021-3.7%$178,514$178,877-0.2%

Forest Acres - February 2017

Forest Acres (ALL)Feb. 2017Feb. 2016% Change2017 YTDVs. 2016 YTD% Change
# New Listings1620-20%2940-27.5%
# Under Contract13---------------
# Sold126+100%209+122.2%
Avg. Sales Price$221,273$168,916+31%$201,035$168,877+19%

Forest Acres - zoned only for Satchelford Elementary - February 2017

Forest Acres (SFE)Feb. 2017Feb. 2016% Change2017 YTDVs. 2016 YTD% Change
# New Listings812-33%1522-31.8%
# Under Contract8---------------
# Sold94+125%156+150%
Avg. Sales Price$256,754$169,875+51.1%$217,247$169,333+28.3%

Heathwood - February 2017

HeathwoodFeb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings770%1210+20%
# Under Contract4---------------
# Sold3250%550%
Avg. Sales Price$406,666$267,237+52.2%$329,346$473,895-30.5%

Kings Grant - February 2017

Kings GrantFeb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings12-50%33-21.7%
# Under Contract1---------------
# Sold01-100%02-100%%
Avg. Sales Price$525,000$579,950

Lake Katherine - February 2017

Lake KatherineFeb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings85+60%1516-6.3%
# Under Contract6---------------
# Sold17-85.7%59-44.4%
Avg. Sales Price$350,000$163,285+114.3%$484,600$181,777+166.6%

Lexington County - February 2017

Lexington Co.Feb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings563495+13.7%1,0181,052-3.2%
# Under Contract608---------------
# Sold294273+7.7%574538+6.7%
Avg. Sales Price$183,717$194,963-5.8%$185,364$190,086-2.5%

Melrose Heights - February 2017

Melrose HeightsFeb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings32+50%47-42.9%
# Under Contract5---------------
# Sold15-80%16-83.3%
Avg. Sales Price$315,000$204,880+53.7%$315,000$203,650+54.7%

N. Main/Earlewood/Elmwood (29201) - February 2017

N. Main/29201Feb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings1921-9.5%3432+6.3%
# Under Contract24---------------
# Sold115+120%1712+41.7%
Avg. Sales Price$169,954$167,200+1.6%$159,746$150,104+6.4%

Northeast Columbia - February 2017

NE ColumbiaFeb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings326321+1.6%639615+3.9%
# Under Contract413---------------
# Sold1711710.0%347338+2.7%
Avg. Sales Price$178,005$188,528-5.6%$189,773$189,487+0.2%

Olde Woodlands/Hamptons - February 2017

Olde WoodlandsFeb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings68-25%1411+27.3%
# Under Contract3---------------
# Sold13-66.7%35-40%
Avg. Sales Price$287,500$244,166+17.7%$300,833$305,500-1.5%

Richland County - February 2017

Richland CountyFeb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings727725+0.3%1,4721,362+8.1%
# Under Contract843---------------
# Sold360377-4.5%747715+4.5%
Avg. Sales Price$174,682$183,771-4.9%$178,987$178,9230.0%

Rosewood (all areas/schools) - February 2017

Rosewood Feb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings2018+11.1%3527+29.6%
# Under Contract22---------------
# Sold84+100%1815+20%
Avg. Sales Price$135,364$124,318+8.9%$150,100$114,661+30.9%

Rosewood (Zoned for Rosewood Elementary) - February 2017

Rosewood (RES only)Feb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings85+60%149+55.6%
# Under Contract8---------------
# Sold62+200%107+42.9%
Avg. Sales Price$150,152$152,347-1.4%$180,541$139,375+29.5%

Shandon - February 2017

ShandonFeb. 2017Feb. 2016% Change2017 YTDvs. 2016 YTD% Change
# New Listings1412+16.7%3521+66.7%
# Under Contract12---------------
# Sold550.0%98+12.5%
Avg. Sales Price$417,500$330,300+26.4%$388,452$280,687+38.4%