Hello everyone and Welcome to another
episode of Selling Greenville your
favorite real estate podcast here in the
upstate of South Carolina I'm your host
Stan McCune here as always delivering you all
the content about real estate in the
upstate and I would just like to remind
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reminder as always I am a
realtor and all of my contact
information is in the show notes if you
need me for any of your real estate
needs you guys know I represent buyers I
represent sellers I got into this
with into real estate with an
investing proficiency you might say
but that allows me to have a critical
eye and a a different perspective on
real estate than a lot of your standard
retail Realtors out there so just keep
me in mind for all of that if you or
anyone else you know needs help in real
estate and also all that contact
information is in the show notes if you
just want to reach out to talk about the
show or whatever the case may be just
let me know I'm available to talk to you
guys especially now that we've got
snow outside which you may hear my
kids outside playing in the snow I'm
trying as as much as possible to make
it not super noisy with a lot of
background noises but but yes this
has been an interesting time this is the
the the time of the snow apocalypse
of of 2022 this is the most snow I've
seen here in quite some time and
it's fun it's fun when we actually get
you know to enjoy some of of the of
the winter season here in Greenville so
you guys have been enjoying that but in
the meantime while I've had a little bit
of extra time on my hands due to kind
of everything shutting down for a few
days I've been calling back through and
and there's always a lot of interesting
information that comes out at the end of
the year or the beginning of of the New
Year reflecting back on the prior year
and so I've been calling through a lot
of information that has come out
about what the year 2021 was like
in in the upstate in
Greenville and what I wanted to do this
time we we've looked at kind of the
market stats kind of at at various
times kind of what the entire Market
itself in the greater Greenville area is
doing and and that includes a really a
huge area that includes Greenville
County which is a massive geographic
area in and of itself I mean I think to
go from the lowest point of Greenville
County to the up upper most point of
Greenville County it's close to an hour
and a half drive so Greenville County
itself is very large but those stats
also include a lot of Spartanburg County
a lot of Anderson County a lot of
Pickens County and a few others
scattered in so this time I want to look
specifically at various markets that
overperformed or underperformed from the
standpoint of appreciation and of course
appreciation Cuts both ways we've talked
about this before I I really don't
have a better word to use than
perform you could maybe say over
appreciated or
underappreciated that's just a lot of
syllables I'm just going to say
overperformed or underperformed and
that's in comparison to what most of the
upstate appreciated at in as in general
so in general we saw most markets in the
upstate of South Carolina appreciate the
past year between 10 to 17 % in other
words the the median home sold between
10 to 17% more in the year
2021 than it did in the year 2020 well
that's a that's a significant amount
significant about 10 to
17% but there were some markets
interestingly that were substantially
better or substantially worse than that
number and I I used a little bit of it
wasn't a complete science there was a
little bit of art that went into this in
terms of which markets I selected you
know there there are a few that are just
so Niche like for instance Landrum
showed up on on the list I don't
consider Landrto be a major Market
even though I really like Landrit's a
really cute little town and really nice
part of the of the county but I'm
not I'm not super focused on that and
and there's not a whole lot of people
moving in and out of there right now so
I called this list down and and I just
want to we're just going to take a few
minutes here to just kind of go through
the various markets and see which ones
outperformed the the Baseline
appreciation that we saw of that between
10 to 17% and which ones perhaps
surprisingly didn't reach up to that
point and we'll start with those that
underperformed and this one surprised me
a little bit but but there were there
were kind of two different areas that
you could both describe Loosely as easts
side Greenville so East Side
Greenville most would think of it as
kind of like that pelroad area of
Greenville it underperformed in two
different markets based on how the
greater Greenville Association of
realtor tracks it and that's where I'm
getting all my data from this data
we've talked about how some of the data
isn't always accurate this data should
be accurate based on what I've seen in
the past so easts side Greenville the
two markets in there in the
gjr had it
underperforming by seven so only
appreciating by
7.6% and
99.7% respectively and again remember I
said that the really as I went through I
went through every single market and the
vast majority of them were between 10
and
17% so these two markets in Eastside
Greenville ended up being
7.6% and
99.7% appreciation for the year that
is a little bit surprising they're you
know that's obviously a very central
location that's obviously an area
that has desirability in a lot of ways
but I think perhaps what we are seeing
is a lot of people that were in the
nicer homes in that area and I can
attest to this I cuz I actually live I
go through Eastside Greenville a lot I
live on the west side of Greer I have
an Airbnb property in Eastside
Greenville so I'm driving through there
a lot and you do not see a lot of
homes for sale and I think that a lot of
the people that are living in in that
area in the more established homes which
are the the more pricey homes I think
that they have decided to sit tight that
they are not moving this is part of of
the inventory problem that we have right
that we're constantly talking about is a
lot of people have have decided not to
move and that has directly impacted east
side of Greenville now what's
interesting is that if you look at the
Taylor's Market the Tailor's Market
appreciated which is right by Eastside
Greenville we saw the prices the medium
price point in tailor and and let me
just cave out one more thing
just tracking mediprice points isn't
necessarily appreciation that's why I'm
trying to put some skin on the bones of
these stats but we can Loosely call it
appreciation as we see these prices
going up it's not necessarily one to one
Ju Just because the median price point
is going up that there was appreciation
happening but for the purposes of
this podcast we're going to say that
just because it's simple but Taylor
which is right there at East Side
Greenville actually saw that standard
right around 177%
appreciation for for that market but
we did see a lot of homes in Taylor
selling this past year so I think it's I
think it's interesting and and also
tailor doesn't tend to have a lot of
very expensive homes so I think what we
saw in Eastside Greenville is which does
have some pricier homes in comparison to
to the average I think the people in
those homes decided not to sell as much
as they typically would and then in
tailor we we saw a true market starting
to appreciate that that Taylor's Market
had been kind of behind for a while as a
lot of elderly people and and people
just living in homes that had just kind
of fallen into disarray as those started
to be sold and flipped and then hitting
the market here's another one
that's a little bit surprising that
underperformed and that is the Malden
Market the malen market only saw the
median price point increase
4.2% for the year well that's that's
really not that much I mean that's
that's pretty close to what you would
expect for for the margin of
error and I I don't have a a ton of
insight on this outside of I think that
Malden is probably a great buy right now
I think that you know if we're if
we're looking at real estate like we
might look at the stock market if
something seems like it's lower than it
should be you should probably buy that
now I'm not a financial planner or
anything like that I don't pretend to be
so I'm not giving Financial advice
however when it comes to the Malden
Market I see some value there this is a
market that hasn't gone up but it's very
Central they're investing a lot into
into the cultural center there and
whatnot you know I always hear people
raving about the schools there so
there's a lot of things to like about
Malden I I think it has just been you
know as people have been migrating out
of of various areas and into different
areas I just think the fact that Malden
doesn't have a a clear identity is still
confusing to people and because of that
I I think that it hasn't appreciated
in the in the way that you would expect
it to also on the list of
underperformers is powersville powers
Ville which is you know I don't
really know how to explain it outside of
it's it's technically a part of pedmont
but it is you know it has a lot of
chain restaurants whatnot it's almost
like an a town with an exit off of an
exit with a lot of chain restaurants and
stores and whatnot and then a lot of
little subdivisions some nice little
subdivisions in there pville only
appreciated by 5% and I do have a theory
for that the the increase of only 5%
year on-year in terms of the medium
price point I would attribute that
most likely to the fact that most people
if they're wanting to move kind of away
right if they're wanting to go away from
everything and pville is it's not super
far out there but it's far enough out
there that it's kind it's still kind of
in that more rural part of of you
know right where Greenville and Anderson
County meet
basically I think the people are that
are looking to move out of kind of the
main Hub around Greenville are either
looking for a more affordable housing or
b homes that come with land and that
have space to move out and so I think
pville doesn't really offer either of
that well pville has more of the
affordable housing that there
there is that cuz the median the
median price point there now is is
272 about 273 so that's a little bit
lower than what we see in the average in
the greater Greenville area but and
that that's the that's the year-to DAT
number actually the December number
was
327 so so that's actually way up
above the mediprice point but I think
that that what we're just the medium
price point for the greater Greenville
area but I think that what we're seeing
there in powersville is just that there
is not as much demand for for housing
that is no longer as affordable as it
should quote unquote should be for that
area but also that there's not the
there's not a lot of housing in that
area coming up for sale that has land
either so it's kind of boxed in in terms
of what it can afford to to people in
general another one that is a little
bit surprising is the Judson and denin
areas this actually might be the most
surprising out of all of them that that
they only saw the median price point
increase by
7.9% now I say that's surprising at
the same time as I'm you know when I see
homes that come on the market in Judson
and Denine there are some quirks about
them and there are some some important
considerations and I haven't gotten
super duper in the weeds I mean there's
only so much time I can put getting into
the Weeds on some of this data but I
will say anecdotally because I follow I
look at every single home that comes on
the market every single day a lot of
well first off Judson there's a lot that
needs to happen over there right I mean
there are some homes that sell in Judson
still for you know 50 60,000 and they're
probably not even worth that so that is
kind of keeping that area down in some
ways and then in Denine where where
we've seen where there's now some
some very nice streets some very nice
areas to go around what we're
starting to see is more of these one
bedroom and two bedroom homes that are
being you know flipped renovated and
sold in the low
200,000 and so obviously you know
that that's a a high price for a small
home like that I mean we're talking
about homes that are like 800 squ ft in
some cases to buy an 800t home in
Greenville for you know 190 200,000
that's a that's a high price per square
foot but previously we you know
people didn't even want to buy those but
now that they're getting priced out of
the three bedroom houses they're having
to choose two bedroom and one bedroom
houses but that's I think making that
overall number for the area kind of
artificially lower again tracking the
median price point isn't necessarily
tracking the appreciation because we're
not looking at the the price per square
foot that would be a whole another way
of assessing this that would take me a
lot of time so I think that Juden and
Denine probably are are truly if you if
we objectively looked at the data
probably would be in that 10 to 70 177%
range maybe even a lot more those areas
traditionally have out outperformed just
about every other part of Greenville for
the past 10 years so I think that
that's a little bit of an anomaly in the
data now the worst out of all of
these the worst numbers that we saw came
from the nickl town greater nickl town
area of Greenville and and this one
this is is the most surprising out of
all of them it was the only Market on
here that had a negative jump in the
price point and that was it at ative
13.2% increase or you could just say
a decrease of
13.2% to the the median price point in
2021 versus
2020 and what we saw was in
2020 in you know for instance in
December the median sales price was was
490,000 in that area versus 2021 the
number was 340,000 which is a decrease
of
30.6% for December year onye so that's
that's a a tremendous jump
down what that's told me is I think
there's a few things I think one is that
there probably in 2020 there were kind
of it was kind of a quirky period of
time where there was a lot of a lot
of big bigger nicer homes in that area
because that it also includes some other
areas outside of nickl toown where
are where there are some some nice homes
occasionally but I think as well so so
2020 had some quirky more expensive home
sales that 2021 didn't but I think as
well I think I think nickel toown is a
little bit tapped out right now I think
a lot of people went in hard on it
because it's right there on on the edge
of a lot of really nice neighborhoods
and and a lot of people went in hard
nickel toown early on and and by
early on I mean like the perhaps in the
past like 5 years there was a lot of
renovation done there but then it's just
kind of fizzled out and we've just seen
it's a it's a really massive area and
it's kind of like Judson judson's a
pretty big Mill area but nickl toown I I
believe is an even larger geographic
area and I and you know you go through
there and there are just some very
depressed streets some nice streets I
think that people have just kind of
tapped the breaks a little bit has been
my feeling on trying to to do more in
that area that the prices didn't go up
to the extent that they wanted it to or
or that investors expected it to and
combine that with I think that there are
a lot of rental properties there as well
which tend to to
if the landlords are negligent that can
impact home values so I think that we're
seeing that nickel toown is not is is
not quite what we thought it might have
been or the direction that it was going
in you know four or five years ago I
think it's it's you got to tap tap the
braks a little bit on that area
specifically just from the standpoint
of of if you're thinking about you know
a shortterm type of invest investment
obviously I think long-term I think
nickel toown is is going to be a good
long-term investment because of its
proximity to Downtown Greenville all
right so those are the underperformers
let's talk about the over performers I'm
not going to spend I'm not going to do a
ton of analysis on on these we're just
going to kind of go through so and
and by the way the order that I'm doing
these in there's not a a specific order
I'm just kind of doing them an order of
how they how they come in the in the
market stats that that I'm going through
so the
North Greenville and North Spartanburg
County are are two over performers
tigerville SL blidge area and then
the North Greer slampa Bell areas
tigerville blidge had two different
markets that kind of covered that area
and those markets appreciated by 27% and
16.4% respectively so obviously at
16.4 I said I'm focusing on 10 to 7
but the fact that one of them was at
27% that that's a tremendous amount and
then the North Korea Campa belloo area
went up
31% in terms of the mediprice
point year on-year and this does not
come as a surprise to me and that's
because we've talked about this in the
past areas that have land are in high
demand right now homes that come with
land are in high demand and those prices
are just skyrocketing and so where do
you go that you can kind of get out
there and get some land and and do some
homesteading and stuff like that North
Greenville County North Spartanburg
County those are beautiful areas if
if you've not been out there you need to
but those are are gorgeous areas that
have a lot of homes coming on the
market that have you know that come with
two three four acres something like that
I think that that is driving up the
price point there another
Market that I think is is similar in
some ways is the lower Simpsonville SL
fountain in area that market appreciated
by
20.4% and I think that this is a
combination of that that yes there are
more homes down there that have land but
also it has traditionally been a a more
affordable area than if you're like in
Five Forks for instance so as people are
are having to find those more affordable
areas as the market pushes some
people G gentrifies some people out of
some areas they have to they find
themselves having to go to rather
than for instance Five Forks they're
having to go to Fountain Inn I would say
instead of doing that go to Malden
that's my personal opinion but a lot
of people just really like some sonville
and again you're not going to get in
Malden the type of acreage that you
could get in that lower part of
Simpsonville so that's definitely a
factor the Greenville County side of
pedmont Saw two different markets one
of which appreciated by
35.8% the other one by
14.9% I I think that this is easily
explainable as the these markets are
very affordable in comparison to just
about anywhere else in Greenville to be
able to find a livable house on the
year the one market on the
Greenville County side of pedmont the
the average price point was
239,000 and the other one was
1855 so those are by Greenville County
standards extremely affordable and you
and you know a lot of those homes are
hopefully livable I mean I see them
all the time they come on the market
and you can you can get good housing out
in out in that area it's not that far
from you know if you're needing to
commute to like downtown Greenville it's
really not that far it's not that bad
you you got access to
185 that which is the toll road that
connects with 385 so so I think
again the markets that are appreciating
tremendously are the ones that
are kind of
underpriced and people are are having to
move there and then prices are getting
driven up as as you have all these
people bidding and competing on those
homes another Market this this
does not surprise me it might surprise
some people but the west of Berea
market so if you're looking at Bia on
the map and again you go west of It
kind of where where Greenville and
Pickens kind of converge Greenville
County and Pickens County that market
appreciated by
18.2% again that's a that's an
interesting area if you go out to that
side of town you don't necessarily see
what you're
expecting it's it's extremely rural
there is some possibility of getting
you know homes with land out there
and yeah you're you really feel like
you're you're in the country you you
it's not even very clear once you enter
Pickens County just how rural that area
can can get and so I think that
there's just a a certain again
demographic that's looking to go out
there and it's probably those that
are looking for a little bit more space
and and those that are looking for
affordable housing and again that that
is an affordable area year to date for
2021 the the mediprice point was 95
so that's that's an area that people
are thinking okay I can I can be out
in a more R area area get cheaper
housing that's where to
go similarly easily Pickens west of
Pickens so like the Clemson sixmile kii
area all of those areas out there all
overperformed so easily was
23.7% increase mediprice point
Pickens
26.5% and then that Clemson Ki 6mile
area
21% and all for similar reasons I
would add as well Co has definitely
played a role in people you know wanting
to to be out there more in the country
and then around kiwi you get a lake
people have realized that especially
they're work working from home more and
you know things that like to do are are
you know not open as frequently or you
have to you know there's restrictions
that people might may not like as far as
wearing masks or whatever the case may
be people are investing more in having a
playground in their backyard quote
unquote and there's no greater
playground in your backyard than a lake
so that's something that has
really help that kiwi Market as well
as we go to around downtown and this
shouldn't be surprising around downtown
Greenville those areas
overperformed the just north of downtown
so like North Maine and kind of the
surrounding areas that market saw the
mediprice point go up 23.3% that's
actually a little bit surprising to me
just from the standpoint
of I mean North Maine specifically it
has not traditionally kept up it kind of
that market kind of got tapped out
for a few years but you know I wonder if
now people are are reinvesting realizing
that okay there's all of these condos
and whatnot going up all over
Downtown Greenville if maybe they're
seeing the value of okay here's a house
that is very close to downtown and if
that's causing that I don't know but
23.3% for that area the area around
Prisma
heal in the hospital around
Greenville Country Club Pleasant Valley
like that area that area saw an increase
on the mediprice point of
19.4% that's a very unique area
it's hard to
completely know what to do with that
data because you know within that area
there will be $200,000 homes and million
doll homes so that's more something
to track over time over over time
traditionally that area has done quite
well and it traditionally has
overperformed so I'm not surprised to
see it at
19.4% increase from 2020 to 2021
and then last but not least and again
it's only last on my list because it was
just the way these markets played out
the last on the list of markets but the
West Greenville SL City View SL Sansui
area that saw the mediprice go up
26.8% no surprise there the medium
price point is is a lot less than the
rest of of Greenville County so for the
year it was
225 however December was up to 276 so
and which is not very far behind the
rest of of the greater Greenville area
so that market is starting to starting
to catch up whereas you know for a
long time it lagged behind it would have
been traditionally way behind the rest
of of Greenville County now we're
starting to see it catch up and that's
what happens when you when you have
outperformed and that market really has
outperformed because I mean you know
just 10 years ago you could buy a house
out there for like
$20,000 so we're seeing some you know
people that bought out there when the
market was was really cold in in 2010
2011
their homes have gone up you know 10 12%
sorry 10 12 times what they
purchased it for at least back
then in comparison to today so I
still think that there is some value in
those areas there are some really really
neat established homes in those areas
that you're simply not going to ever see
built again unless you build a custom
home and so I think that that's going to
drive going to continue to drive as as
that area continues to gentrify it's
going to going to drive that price point
up and up and I I don't see that
stopping anytime soon so that is a
little snapshot at the at the various
markets to give you an idea of of where
things are going I think in general
we can feel pretty good that that the
Greenville County Market is going to
continue to see steady appreciation
nothing insane believe it or not and
and I would like to do a podcast about
this in the in the future it's just
going to involve a lot of data
assessment but the Greenville Market
hasn't seen the kind of inflation that
other markets have so the
appreciation that we're seeing even
though it feels insane and obviously it
it can't continue at this pace it is
still not at the pace of other Market
markets there are some other markets
that are still seeing much more insane
rates of appreciation so we can be
grateful for that I am grateful for that
I know people think Realtors just want
prices to go up up up no we don't
generally speaking we like to see
Healthy Growth and and honestly it
might be a little bit on the unhealthy
side but it's not as unhealthy right now
as you might think that's my opinion
based on the data
but I I would
say look at this data give yourself a
sense for what your long-term plans are
and know that pretty much just the
trajectory of Greenville it should and
again I'm not a financial planner but it
should be a good investment to purchase
pretty much anywhere in greenw as long
as you don't overspend that's that's the
main thing that you don't want to do
but if you have any questions about that
if you want to discuss this at all
please let me know you've got all my
contact information in the show notes
just a reminder subscribe if you haven't
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we might be getting some more snow this
week I don't know this is crazy but if
we do please stay safe dve driving the
Greenville drivers do not understand
snow please be careful dealing with them
out there I beg you I implore you stay
safe and I hope you guys have a
wonderful rest of the week
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