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My house sold in six days in a bidding war. Inventory in Columbia is so low that not enough buyers can’t find houses they can afford.
That's amazing.. but seems very true... atleast for certain neighborhoods.. I looked at real estate prices in intown areas like Shandon, Melrose Heights, Cottontown, Rosewood, Elmwood Park, Earlewood, Keenan Terrance, the areas around the VA hospital, and Lake Katherine... All of these areas have inventory.. but the prices seem quite steep even for a fixer upper.. .So those homes that are priced "competitively" will likely fly off the market.. The ones that are sitting are priced somewhat high it seems and the owners can afford to wait to see if they can get their price... That said.. the further you get away from downtown say North Columbia.. far SE Columbia and parts of NE Richland/Lower Richland.. the prices come down and there is more inventory and variety in terms of pricing.. So it seems that its mostly the intown areas that are experiencing either high prices and lower inventory due to demand....Brandon.. what say you?
That's amazing.. but seems very true... atleast for certain neighborhoods.. I looked at real estate prices in intown areas like Shandon, Melrose Heights, Cottontown, Rosewood, Elmwood Park, Earlewood, Keenan Terrance, the areas around the VA hospital, and Lake Katherine... All of these areas have inventory.. but the prices seem quite steep even for a fixer upper.. .So those homes that are priced "competitively" will likely fly off the market.. The ones that are sitting are priced somewhat high it seems and the owners can afford to wait to see if they can get their price... That said.. the further you get away from downtown say North Columbia.. far SE Columbia and parts of NE Richland/Lower Richland.. the prices come down and there is more inventory and variety in terms of pricing.. So it seems that its mostly the intown areas that are experiencing either high prices and lower inventory due to demand....Brandon.. what say you?
For the most part yes, and it’s gotten to the point where even places like Dale View and Seminary Ridge are becoming pricey. My home on Cola College when I bought it last year was valued at 85k. In one years time, three other homes on my stretch of the road have been full 180 renovated and one home torn down to create an empty lot. My home is now worth just north of 100k. Gentrification is starting to reach its arm into my part of town. So much so that when I looked into a home that got renovated a few houses down that company bought and charged $1100 a month for rent, I was shocked. They had occupants living there in less than a week. North Main past Sunset is positioned to boom. It’s the last closest area to downtown (along with Colonial Heights and West Beltline) where home prices are still relatively low. SE Columbia is a mixed bag. It feels like something is literally just holding development back from crossing over 77. And NE is a lost cause, at least in my lifetime, imo. So is Broad River. But only the part past 20. The other section closer to town I could see coming back. And LR will become a great place to live. Still lots of open land with cheap lots. I could see it becoming a Blythewood type situation there. And if Sumter ever takes off on a little growth spurt, that part of town should grow with it.
For the most part yes, and it’s gotten to the point where even places like Dale View and Seminary Ridge are becoming pricey. My home on Cola College when I bought it last year was valued at 85k. In one years time, three other homes on my stretch of the road have been full 180 renovated and one home torn down to create an empty lot. My home is now worth just north of 100k. Gentrification is starting to reach its arm into my part of town. So much so that when I looked into a home that got renovated a few houses down that company bought and charged $1100 a month for rent, I was shocked. They had occupants living there in less than a week. North Main past Sunset is positioned to boom. It’s the last closest area to downtown (along with Colonial Heights and West Beltline) where home prices are still relatively low. SE Columbia is a mixed bag. It feels like something is literally just holding development back from crossing over 77. And NE is a lost cause, at least in my lifetime, imo. So is Broad River. But only the part past 20. The other section closer to town I could see coming back. And LR will become a great place to live. Still lots of open land with cheap lots. I could see it becoming a Blythewood type situation there. And if Sumter ever takes off on a little growth spurt, that part of town should grow with it.
I think Woodlands is talking more about in-town homes where complete gut jobs are selling for close to or over $100/ square foot and renovated properties are pushing $200-$300/ square foot. These are homes close to the University of SC that are zoned for the most desirable schools in Richland One. It is really no surprise that this is happening, given the explosive growth of the University and the tremendous growth in Young professionals moving to or staying in the area. I hope we see more people moving to the areas you mentioned who don't have children. Given the poor reputation of schools in North Columbia and SE Richland, those who do not and do not plan to have children may choose those areas for the more affordable real estate options.
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