Rebuild Upstate

group of people posing together in front of construction supplies and tools for a project led by Rebuild Upstate

Rebuild Upstate Builds Generational Wealth

Prime Purpose is Prime Realty’s devotion to enhance our local pride and establish partnerships with local businesses in our community so that we can bring those resources to our audience through our partnerships. “Rebuild Upstate is honored to work collectively with Prime Realty to strengthen our community – one home and one family at a time.”

Rebuild Upstate’s focus to preserve homes by utilizing local service providers and community volunteer groups is like our mission at Prime Realty. Through our Prime Purpose initiative, we can rally volunteers, sponsor events, and deliver local resources and service providers to our community partners, Rebuild Upstate and Speak for Animals.

Rebuilding More than Homes

Who is RU?

Rebuild Upstate’s mission is to retain homeownership to build generational wealth for families located in South Carolina, specifically Oconee, Pickens, Anderson & Greenville County. Rebuild Upstate repairs the houses of our low-income neighbors to make homes safer, healthier, and more livable.

As Prime Realty’s newest Prime Purpose partner, we thought posting before/after projects would be a great way to showcase Rebuild Upstate’s amazing efforts and accomplishments! This house here belongs to a Marine Corps veteran who performed his own repairs before he no longer could be due to the physical demand.

Why home Repair?

The answer is simple: the best home for an at-risk homeowner is the home they already have. According to Rebuild, “When using volunteers, the average affordable housing home costs $120,000 to build. For the same investment, Rebuild Upstate can repair and rehabilitate 20 existing homes. This home received multiple health and safety repairs including roofing and flooring. ⁠Donations are an important part of keeping our neighbors safe. You can donate here.⁠”

Prime Realty’s Build Day at Anderson Family Home 

On November 5, Prime Realty agents visited Mrs. Anderson’s home to continue repair work organized by Rebuild Upstate. As a real estate company, it’s important to our whole organization to serve the existing homeowners of our community. Our partnership allows the opportunity for our two organizations to coordinate an event with a shared mission. In our case, we’re a real estate company working with a non-profit focused on retaining home ownership and increasing generational wealth. A win win.

“It was such a great day.  Loved working with other Prime agents on this project.  It was nice to be hands on and actually help build something for Mrs. Anderson’s home.” Tracy Tate

 

Their Process

“Rebuild Upstate believes the best home for a homeowner who is at-risk in the affordable housing crisis is the home they already own. To that end, we provide volunteers and materials to make homes safe, healthy, and sustainable for our neighbors in need. By exclusively focusing on home repairs and improvements, we allow residents to remain in their homes to maintain stability and dignity.”

RU is proud to help vulnerable populations through our process. Vulnerable populations include veterans, older adults, people with disabilities, and families with children.

Prioritization Criteria: Exploring the Applicant Process

  1. Submit your application
  2. Rebuild Upstate will determine eligibility
  3. Households that have applied move through the funnel as they meet prioritization criteria.
  4. Repairs happen for the household with the greatest need that can be met with Rebuild’s current available resources.

Types of Repair Projects:

  • Decking
  • Electrical updates
  • Floor Repair & Replacement
  • HVAC
  • Mold Removal
  • Plumbing
  • Roofing
  • Ramp installation
  • Standing shower installation
  • Stair repair & replacement

Catch up with Our Partner

Just 13 years after their first build, Rebuild Upstate completed repairs on its 1,000th home. Rebuild Upstate is enhancing lives here in the Upstate, one repair at a time. Most recently in 2022, they completed the most repairs they ever have before standing at 582 projects, 109 homes all while utilizing 825 volunteers. We’re so excited for our next build day scheduled in March! Learn more about our Prime Purpose partner on our website.

Virtual Visit | Donate Now 

Commercial Real Estate in Upstate South Carolina

prime realty commercial real estate in south carolina

Prime Realty's Commercial Listings

Commercial Real Estate at your service.

7 Unit Package in Greenwood, SC

Phoenix St & Baptist Court | Greenwood, SC 29646

Highlights

  • Phoenix St. Includes:
  • Two – 1 Bed, 1 Bath units on the first floor
  • One – 2 Bed, 1 Bath unit on the second floor
  • Baptist Ct. Includes:
  • Two – 2 Bed, 1 Bath single family dwellings
  • One – 2 Beds, 1 Bath Duplex
  • One – Value add duplex waiting to be flipped for its future renters!
  • Properties located within 5 minutes of each other

Apartments in Greenwood

310 Walker Avenue | Greenwood, SC 29649

Highlights

  • 12 Total units
  • All are 2 BR, 1 BA
  • Separate utilities for each unit
  • Extra lot included that offers room for growth
  • Located near Lander University and Lake Greenwood

Multifamily in Laurens

2841 SC-127 | Laurens, SC 29360

Highlights

  • Wonderful value-add opportunity
  • Renovations could add additional units and/or coin laundry
  • 18 Total Units
  • 17 Studios and 1 – 2 BR/1BA.
  • Located in the growing city of Laurens, SC near I-26

Apartments in Downtown Laurens

255 E Main Street | Laurens, SC 29360

Highlights

  • Wonderful value-add opportunity
  • Additional home included which could add units and/or coin laundry after renovations
  • 21 Total Units
  • 7 Studios, 3 – 1BR/1BA, 11 – 2 BR/1BA
  • Close access to I-26 and I-385

Unzoned Lane in Travelers Rest

Belvue School Road | Travelers Rest, SC 29690

Highlights

  • Unzoned
  • 0.96 +/- acres
  • Direct access to Highway 25
  • Located minutes from downtown Travelers Rest

Industrial Warehouse and Company for Sale

Upstate, SC | Upstate, SC 

Highlights

  • Adjusted annual profit: $250,000
  • 10,946 +/- SF total
  • Situated on 1.63 +/- acre lot
  • Building 1: Front offices and rear shop/warehouse space
  • Building 2: Steel building divided into 3 shop/warehouse bays
  • Building 3: Rear storage shed with a roll up door and service door

Office Space for Lease – Site #1142

618 W Main Street | Williamston, SC 29697

Highlights

  • 1,250+/- SF off
  • Great corner lot on Main street in Williamston
  • Ideal for small office, retail space

250 Rock Quarry Road – Site #1127

250 Rock Quarry Road | Travelers Rest, SC 29690

Highlights

  • Unzoned
  • Multiple parcels combined to equal 2.25 +/- acres
  • Swamp Rabbit Trail within walking distance

Connect with Our Commercial Team

Prime Realty Commercial is presenting the opportunity to lease or purchase commercial space in the Upstate of South Carolina. We hope browsing through our commercial listings in more detail piqued your interest! To submit an inquiry, email info@primerealtysc.com with any questions, fill out our contact form, or call our office at 864-326-5405. For residential opportunities, browse our Live Greenville site. 

2022 Market Review

2022 Market Review for South Carolina Real Estate

2022 Market Review

Here’s the 2022 Market Review.

People would consider last year to be a rollercoaster year. Mortgage rates were near historic lows, buyer competition was fierce, and homes were selling at a breakneck pace, often with multiple binds and all-cash offers, due to pent-up demand and a shortage of housing supply, causing sales prices to soar to new heights.

But all that changed shortly after when the increase in mortgage rates began and hundreds of dollars added to people’s existing monthly mortgage payments, causing the housing affordability to plummet to its lowest level in decades. 

Year-to-Year Comparison Report comparing 2021 to 2022.

The quantity sold increased by 2% going from 33,753 to almost 34,337.

The volume sold increased by 14% going from $10,114,053,877 to $11,568,805,796.

The average sale price increased by 11.9% going from $318,548 to $356,525.

The median sale price increased by 14% going from $265,000 to $302,187.

The Price Comparison Report

While the Year-to-Year report does a good job explaining the numbers how much they changed percentage wise, our second source is the Price Comparison Report. This report gives you a more specific look at the overall numbers for each year.

The Price Comparison Report for the years 2021 and 2022 in Greenville looking only at Sold Residential properties, we saw a decrease in home price and a decrease in days on market (DOM). As you can see from this chart, Days on Market declined in 2022 from the 2021 average.

Price Range

Sold 2021

Sold 2022

Average DOM 2021

Average DOM 2022

$0-$49,000

1,016

718

185

137

$50,000-$99,000

948

767

109

66

$100,000-$149,999

1,471

1,010

58

51

$150,000- $199,999

3,189

2,014

35

32

$200,000-$249,999

4,209

2,797

29

28

$250,000-$299,999

3,620

3,636

33

28

$300,000-$399,999

4,094

4,827

33

28

$400,000-$499,999

1,739

2,291

38

33

$500,000+

2,132

2,652

62

40

The Average Sale Price Sold average for 2022 was $356,525 which is significantly more than the 2021 Average Sales Price Sold average of $318,548. While the number of listings from 2021 to 2022 increased from 20,204 to 20,594.

The Cumulative Historical Statistics

The Cumulative Historical Statistics created by the Greater Greenville Association of Realtors® is the final source for our 2022 Market Review. According to these statistics, the Upstate has had a steady increase in units, volume, average price, and median price for the past five years.

These numbers are a representation of market activity but may not include all sales brokered by Member firms and should not be viewed as an all-inclusive of sales transacted within the referenced time periods.

Here are the 2022 numbers compared to last year (2021).

Year

Units

Average Price

Median Price

Average DOM

2022

16,647

$356,525

$302,187

27

2021

17,690

$318,516

$265,000

29

 Here are the 2022 numbers compared to the 2016 numbers.

Year

Units

Average Price

Median Price

Average DOM

2021

17,690

$318,516

$265,000

32

2016

12,198

$212,306

$183,000

62

So, what does this mean for 2023?

Takeaway from SCR Annual Report on the South Carolina Housing Market:

Looking ahead to 2023, much depends on inflation, mortgage interest rates, and the broader state of the economy, although economists predict many of 2022’s housing trends will continue into the new year: home sales will soften, price growth will moderate, inventory will remain tight, and there will be greater variability between markets nationally, with some regions possibly seeing price declines while other, more affordable areas of the country remain in high demand and experience price growth.

NAR Declares Greenville-Anderson-Mauldin, South Carolina Real Estate Market as ‘One to Watch in 2023’:

NAR selected the top 10 real estate markets to watch in 2023 based on how they compared to the national average on the following economic indicators: 1) better housing affordability; 2) greater numbers of renters who can afford to buy a median-priced home; 3) stronger job growth; 4) faster growth of information industry jobs; 5) higher shares of the information industry in the respective local GDPs; 6) migration gains; 7) shares of workers teleworking; 8) faster population growth; 9) faster growth of active housing inventory; and 10) smaller housing shortages.

Prime Realty’s 2022 Residential & Commercial Review

Prime Realty’s residential team ranked no. 65 nationally for total volume sold as a firm! Selling 171 units in 2022, they ranked no. 51 nationally. Prime Realty team is ready for 2023!

Prime Realty’s commercial team reached almost $22 million in volume sold in 2022, establishing their national ranking at no. 41.

Find Your Dream Home in South Carolina

We hope you found this 2022 Market in Review helpful and informative.

If you’re in the market for real estate in South Carolina, be sure to check out our inventory site for available properties. Our experienced team is dedicated to helping you find your dream home, so please don’t hesitate to contact us with any questions or to schedule a showing. And remember, if you’re ready to take the next step in finding your new home, give us a call or visit our website to schedule a consultation with one of our expert agents today!

Resources

NAR Forecast

South Carolina Realtors

For this blog, we used the Residential Sales data from the MLS (Multiple Listing Service) for the Greater Greenville Association of REALTORS® (GGAR) to show you how the market in Greenville has changed over time. For more generic 2023 detailed forecast reports, visit Realtor and Zillow.