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Old 12-31-2018, 10:42 AM
 
30 posts, read 29,558 times
Reputation: 11

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I was taking a look at the Greenville housing stock to get a sense of what the market currently looks like. Looking at the available $300-500k inventory, DOM on recent sales (past 6 months) in this price range, it appears to me that the market in certain pockets in the area has slowed down considerably. I don't know if things have always been like this, but I was wondering if all the sprawling new developments is putting pressure on prices in the 10-20 yr old homes in the older, established neighborhoods like Greer and Simpsonville, where houses do not appear to be selling as fast or nor seeing much of an appreciation in sales price over their original purchase price from a decade or so ago?



My impression was that we continue to have a decent influx of new out of state residents in the area which ought to be keeping home prices generally healthy and competitive.
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Old 12-31-2018, 06:13 PM
 
Location: Travelers Rest S.C.
133 posts, read 143,322 times
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I noticed it too. Wish I had six more months to find a place. Last spring when I was looking, they got snatched up faster than they could be listed. Now it has slowed.
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Old Today, 10:42 AM
 
Location: Upstate
5,551 posts, read 6,316,224 times
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Also noticed it. Late last year and early this year, houses were flying off the shelves in my neighborhood (literally offers in 2-3 days). Now all I see are houses sitting for well over 90 days.
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Old Today, 11:47 AM
 
1,107 posts, read 1,751,292 times
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The economy is slowing, which means house prices will peak too.
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Old Today, 11:56 AM
 
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Well I think it is to be expected. When I sold my house in 2016 it sold in less than a day but the economy had just started to pick up and there were limited if any new builds though the permits and the ground digging was just beginning. Prices IMHO went over what the real value was. Almost 3 years later I expect that the new builds have come into play and are affecting the older homes but unfortunately those selling may not want to realize that the prices they are asking aren't realistic because they are basing their prices on previous frenzy of overbidding. This is all just my opinion, and without statistics comparing new house sales to resales I can't say for sure. A realtor would or should know.
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Old Today, 12:39 PM
 
Location: The South
3,742 posts, read 5,120,585 times
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Generally, real estate slows late Fall/early Winter. People don’t want to disrupt school schedules and companies tend to transfer after the new year. It’ll be interesting to see what happens in the Spring.
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Old Today, 03:08 PM
 
Location: Simpsonville, SC
161 posts, read 79,749 times
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Our house's value also hasn't gone up much and we're in a prime location not too far from Five Forks off Woodruff Road and Hwy 14. With everyone talking about how quickly prices were rising, it seemed to me that a lot of that was being driven by new home sales. There's SO much new construction in the area that I really do think it is hard for established neighborhoods to compete.
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Old Today, 06:10 PM
 
Location: Travelers Rest S.C.
133 posts, read 143,322 times
Reputation: 171
When I was looking in the spring, I even checked out a few in Berea. Run down 600 SF houses getting 100k to 130k. Found three of those house under one roof in Dacusville a mile from the greenville county border for 80K. And built in 2000, with some minor work needed.
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