Could this city be the next capital of cool?

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

TRD 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
HelloFresh’s NYC HQ (Courtesy of Industry City, HelloFresh by Eric Laignel)

HelloFresh inks Industry City deal for content studio

HelloFresh inks Industry City deal for content studio
Gov. Andrew Cuomo with Judge Lawrence Marks and Judge Daniele Chinea (Getty, Linkedin, iStock)

Flip-flop on eviction ban extension highlights state’s chaotic response

Flip-flop on eviction ban extension highlights state’s chaotic response
A rendering of the Climate Solutions Center with Trust for Governors Island CEO Clare Newman and Mayor de Blasio (Rendering via WXY architecture + urban design/bloomimages; Governor's Island; Getty)

Going green: Governors Island could soon house climate center

Going green: Governors Island could soon house climate center
Nelson Rockefeller and 812 Fifth Avenue Photos via Getty; StreetEasy; Google Maps)

Fifth Ave co-op owned by Rockefeller family hits market

Fifth Ave co-op owned by Rockefeller family hits market
Nightingale’s Eli Schwartz and 111 Wall Street (Credit: Google Maps)

Nightingale, Wafra seek $860M to redevelop 111 Wall Street

Nightingale, Wafra seek $860M to redevelop 111 Wall Street
The Real Deal founder and publisher Amir Korangy and Massey Knakal founder Bob Knakal

JLL’s Bob Knakal on the future of New York

JLL’s Bob Knakal on the future of New York
Joe Jonas and Sophie Turner with 199 Mott Street (Getty; Modlin Group)

Joe Jonas and Sophie Turner list NYC pied-à-terre for $5.9M

Joe Jonas and Sophie Turner list NYC pied-à-terre for $5.9M
A million homeowners haven’t requested forbearance on their mortgages — and are now at risk for foreclosure and eviction. (iStock)

1M struggling homeowners didn’t request forbearance. Now what?

1M struggling homeowners didn’t request forbearance. Now what?
arrow_forward_ios

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

Loading...