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 

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.

Why Prime Agents Love the Upstate of S.C.

According to the people who live here (and a few national publications) the Upstate is one of the best and friendliest places to be, but what makes it the best? We decided to ask the people who know the area best, our agents! Below are responses from a select amount of our Prime agents. 

Question 1: Why do you love the Upstate of South Carolina?

Jackie Dowling: “I love the Upstate because it is close to the mountains and close to the beach! You can take a day trip to either!”

Lindsay Jasionowski: “I love that the Upstate offers “big city” experiences, yet still manages to feel like a small-town home. The upstate is very passionate about keeping things local. Almost all of the restaurants are sourced by local farms, small businesses selling products produced by local artists and designers. And my favorite of all, the amount of people who spend time outdoors – running, biking, walking, hiking – rain or shine, you can almost guarantee to see activity around you.”

Tracy Tate: “I love the Upstate of South Carolina because of the people that live here. I am originally from here, but I love that so many people have found our great area and love it enough to move here. People are kind and helpful.”

Sierra Wright: “I love the location! Greenville SC is driving distance to the beach, the mountains, and also bigger cities. The climate is always nice, and cost of living is lower than up north and the West Coast.”

Mary Krcelic: “The Upstate has been my home for over 35 years. Love it because of the closeness to so many other places, activities, change of seasons, football and because Greenville is amazing!”

Matt Poole: “I love the Upstate because of its proximity to so many things. Hiking, Lakes, the beach, Charlotte, and Atlanta are all within a couple of hours. I also love that there is so much you can do and with so many new businesses and companies coming into the area, that list continues to grow.”

Rebecca Henderson: “It’s the best location! Close enough to the mountains for a day hike and lakes/beach for some fun on the water, our area has something to offer in all seasons.”

Amy McMahan: “I love the smaller town living. The proximity to the mountains and the beach makes it a great place to live.”

Erin Halperin: “Accessibility to mountains, coast, ATL, Asheville, Charlotte without the price tags.”

Question 2: What is your favorite place in Upstate S.C.?

Rebecca Henderson: “How am I supposed to choose one?! If I had to choose, it would be the Greenville Zoo!! I have adored and been fascinated by animals all my life, so the zoo is a very happy place for me. A close second is the Roper Mountain planetarium…call me crazy but the illusion of experiencing galaxies far far away is hypnotic. Having gone there as a kid for many field trips, there’s something a little nostalgic there as well.”

Matt Poole: “My favorite place in the Upstate is Downtown Greenville. I love the food scene and the vibe that downtown provides. It is a beautiful place to walk around, shop, enjoy good food and good times with your friends and family.”

Mary Krcelic: “I love Downtown Greer. There are so many cute places and wonderful restaurants. I also love Landrum and it’s cute downtown.”

Sierra Wright: “The Swamp Rabbit Trail is the best place for walking and bicycling, it is also very relaxing!”

Erin Halperin: “Anywhere outside, but the Swamp Rabbit Café has amazing local groceries and delicious treats!”

Tracy Tate: “I love Paris Mountain. It is beautiful and a short drive from my home.”

Lindsay Jasionowski: “Falls Park – How many states have a massive waterfall nestles right into the heart of the City?!”

Jackie Dowling: “The Children’s Museum! We frequent often and love the ever-changing exhibits. It’s fun for all ages.”

Amy McMahan: “Downtown!”

Question 3: What is your favorite thing to do in the Upstate of South Carolina?

Tracy Tate: “I am a runner, so my friends and I make great use of the Swamp Rabbit Trail. We met at the Swamp Rabbit Cafe, get our miles in and then have breakfast.”

Amy McMahan: “We live to walk downtown and have lunch and shop!”

Matt Poole: “My favorite thing to do in the Upstate is driving. I know that sounds weird, but there are so many amazing places around that you see so much. Taking a drive down Highway 11 at the base of the mountains in the fall or around Keowee in the Summer or through many of the small towns. There is just so much to see and enjoy.”

Rebecca Henderson: “Eat! So many incredible places to enjoy a great meal, from the local family-owned kitchen to the national chains; there’s something for everyone!!”

Jackie Dowling: “Go hiking or biking along the Swamp Rabbit Trail.”

Lindsay Jasionowski: “Explore the outdoors!!”

Erin Halperin: “Walk or bike the trail”

Sierra Wright: “Travel to the beach and enjoy the events Downtown Greenville.”

Mary Krcelic: “I love all of the events in Greenville, some of my favorites are Fall for Greenville and Euphoria.”

BBQ platter - Upstate South Carolina
City of Greenville South Carolina - Greenville Realty

Check Out More Prime Realty Blogs About South Carolina

If you are looking for recommendations of more places to go or things to do, check out Prime Realty’s other blogs all about the Upstate of South Carolina, linked below. If you are thinking about relocating here or just moving to a different area, contact one of our Upstate  real estate agents today!

Prime Realty’s Vendor Program: Prime Trusted

Prime Trusted was created with the idea of facilitating a network of vendors that could be readily accessible to not only our agents, but also our past and present clientele. Prime Realty continually aims to collect and distribute resources that are beneficial to our clients. Our vendor program allows us to assist our clients beyond the closing table.  

Within our network of vendors, we have 30+ businesses in 25+ service categories. The companies and individuals listed on the preferred vendors list have either provided service(s) or conducted work for clients of Prime Realty, for individuals that Prime Realty agents have met and have expressed satisfaction towards their service(s), or that Prime Realty has felt confident in utilizing their service continually. 

Who?

The Prime Trusted Vendors act as stakeholders in the agents’ businesses by offering tools, world class service, and ongoing training to achieve individual and collective growth.  

What? 

Prime Trusted is designed to give vendors who are leaders in their own respective industry and who are in alignment with our values the opportunity to build relationships with our agents. 

When?

Starting February 2022. 

Where?

Headquartered in the Prime Office located in Greenville, South Carolina. The location of our network of vendors spans from all around the Upstate of South Carolina. 

Why?

Prime Realty takes pride in being able to support our local associates by helping facilitate relationships with reputable vendors, a part of the real estate industry. 

program's contact infoFrom Our Broker-in-Charge

Our BIC Ashley Lewis shares why our vendor program, Prime Trusted, was created.

“One of the most valuable things a realtor brings to a transaction is the network of people and businesses that they know and trust. We formed Prime Trusted to gather those [people and businesses] into one database to help our clients have quick access to some of our favorite businesses in the area. Naturally like any generated sheet, we do not have any control regarding their service or responsiveness, but if it is brought to our attention that select Prime Trusted vendors are not meeting expectations and not abiding by our Prime Trusted Commitment letter they have signed to be considered for acceptance, they will be removed from the program. So, please rest assured these vendors have been vetted, their licensure and insurance have been verified, and I would trust them in my own home. For many of the vendors included, chances are they have already been there, too!” 

Once the transaction is completed and you’re now settling into your new home, let’s say you are inspired to redo your bathroom, or want to upgrade your kitchen; your resource pool may be limited. If you aren’t privy to the home buying process, the despair of “What do I do next?” is staggering. Nothing feels worse than not knowing where to find your next resource. With the Prime Trusted Vendor Program, you have access to all services in your area at the click of a button.

Q & A 

Where can I learn more? 

To learn more, visit the Prime Trusted Vendor page on our website at primerealtysc.com. There you can find our full and comprehensive list of Prime Trusted vendors for your reference. 

How to get started? 

To get started, submit your application to the firm and within two weeks, expect a follow-up from either the firm or our agent leader. 

What are the requirements? 

Your business must be in the Upstate of South Carolina, you must present documentation of licensure and insurance, and you must abide by our Prime Trusted Commitment letter.

How long is my membership of this vendor program? 

The duration of your 12-month membership begins at the time of acceptance. The membership is contingent on completing monthly charges and your ability to abide by our Prime Trusted Commitment letter. 

How will this benefit me? 

Brand awareness and exposure is monumental for your business when it comes to competition. The benefits to you and your business in its entirety are not disclosed below but continue reading to learn the basics. 

You would have access to our office meaning a few things: 

  • Display your promotional and marketing materials in the office. 
  • Have marketing materials displayed periodically in the office. 
  • Can host breakfast for agent training meetings and take 5-10 mins to share the latest news pertaining to your business. 
  • Can schedule quarterly meetings with Prime admin to assess agent engagements. 

What differentiates your vendor program from the competitor’s program?  

Our program was built through the established networks of our agents and company. With quality being at the forefront, the quantity of the vendors allowed in our program is heavily dependent on the vendor’s quality of service.  

How is your list different from a Google search? 

The main difference between compiling and referencing your independent research versus ours is that we at Prime Realty have already taken care of the nitty gritty. Each one of our vendors undergoes a screening process, one that verifies they are bonded and insured, that they provide services within the Upstate of South Carolina, and that their company values align with ours.  

To learn more, visit our Prime Trusted page on our website. For an application, email ptvendors@primerealtysc.com.