Upstate Real Estate

While the rest of the country is reeling from a crashing housing market, the Upstate is continuing at a relatively strong pace. National listings and sales are down more than 50% from just two years ago, whereas the Upstate has only seen a 3% drop from our record numbers in 2006, and we sold more houses in 2007 than in 2005. In comparison, the Lowcountry region is down almost 20%, and the rest of the state is down 10% from 2006.

Why is the real estate industry so much better in the Upstate? There are several reasons. The economy is still great in the Upstate with companies entering the market and expanding, which is bringing more people to the area. Our area didn't experience a huge building boom over the last several years so there's not an overabundance of inventory. And Upstate homes have appreciated at a slow and steady pace over the years, and they continue to do so instead of the great depreciation we're seeing other places due to overpriced and overvalued homes.

Need more facts and figures? Click here for a breakdown of Upstate real estate numbers.