Could this city be the next capital of cool?

Greenville, South Carolina is seeing rise in artists, home prices

National /
Dec.December 15, 2018 02:00 PM

(Credit iStock)

Greenville, South Carolina, wants to be the next Portland, Oregon, aka the capital of the cool and artsy.

The southern town began attracting artists in 2005, with the introduction of an annual, three-day festival called Artisphere. The arrival of well-established artists in the former milltown coincided with a gradual growth in real estate prices, with the average price of homes sold since 2015 increasing by 21 percent, the Wall Street Journal reported. According to the Greater Greenville Multiple Listing Service, the number of homes with a price tag of at least $1 million has tripled during that time.

But home prices haven’t reached the levels seen in cities like Boston and San Francisco. The most expensive house currently listed is a five-bedroom, 12,558-square-foot mansion for $6.75 million. Still, a lack of inventory has also led to frequent bidding wars. According to the local MLS, 36 percent of all homes on the market are either new or haven’t been built yet.

“Agents are trying to keep listings in-house in their own offices before others hear about them,” said Lisa DeLuca Alexander, owner of Del-co Realty Group. “Buyers have to come in over asking [price].” [WSJ] — Kathryn Brenzel


Related Articles

arrow_forward_ios
Ford estate fetches $105M, a Hamptons “record” but far below ask
Ford estate fetches $105M, a Hamptons “record” but far below ask
Ford estate fetches $105M, a Hamptons “record” but far below ask
Hudson’s Bay Company restructures $846M CMBS loan
Hudson’s Bay Company restructures $846M CMBS loan
Hudson’s Bay Company restructures $846M CMBS loan
Two of the eleven properties under threat of foreclosure (Google Maps)
Mack Real Estate may “strip” club owner of properties
Mack Real Estate may “strip” club owner of properties
HRI founder Aaron Carr and Virginia Attorney General Mark Herring (Facebook, Getty)
Housing Rights probe pins voucher discrimination on VA landlords, brokers
Housing Rights probe pins voucher discrimination on VA landlords, brokers
School and office reopenings led to fewer reservations at the end of summer. (iStock)
Hamptons rental market had strong summer, begins to cool
Hamptons rental market had strong summer, begins to cool
Zillow CEO Rich Barton (Getty, iStock)
Zillow hits the brakes on iBuying
Zillow hits the brakes on iBuying
More than 27,000 Long Island households behind on rent
More than 27,000 Long Island households behind on rent
More than 27,000 Long Island households behind on rent
91 Sergio Franchi Drive and Sergio Franchi (Sotheby's, Getty)
Sergio Franchi’s 200-acre Connecticut estate lists for $12.6M
Sergio Franchi’s 200-acre Connecticut estate lists for $12.6M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...