Difference in Home Values 2006-2009, Anderson, Oconee, Pickens Counties, SC.Real Estate Agents, Agencies & Property SalesUpdated on Feb 4, 2010 View more like this | Visit ANDERSON, SC | Contact George Maso |
The median price per home in SC was $160,000 in 2006. For the Upstate MLS which includes Anderson, Oconee & Pickens counties it was $135,000. 2007 was the turning point in our market.In the Upstate, i.e. Anderson, Oconee & Pickens counties the declining values between 1/1/08 and 1/30/09 averaged between -6/4% and -14.5% mth. to mth. for a cumulative average loss between 19%-25% in home values. Three examples below show the difference between sold values in 2006 and currently active values for similar properties at the time of this post. These have been selected from the median prices in a list of 245 homes sold in Anderson, Oconee and Pickens counties in the respective price ranges.
Disclaimer: the parameters used for both the solds and the currently active are 3bd/2ba/gar./ 6-10 yrs. old city or county, 1,500-2,100 sq.ft., middle of the price range for those available and not waterfront. These examples are not meant to advertise any Broker’s listings. They are being used as statistical comparisons with similar properties sold in 2006 in similar locations.
2006 Double-wide manufactured: 3bd/2ba/1,600 sq.ft. Vinyl/County/6-10 yrs./On mkt. 81 days; List: $49,400
Sold: $59,000
Single Family (Vinyl): 3bd/2ba/2car gar./ 1,600sq.ft./Vinyl/2 story/City/On mkt 40 days: List: $162,900
Sold: $162,300
Single Family (Brick): 3bd/2ba/3car gar./.2,100 sq.ft./Brick/County/6-10 yrs./)n mkt. 77 days: List: $249,000
Sold: $245,000
2009 Double-wide manufactured: 3bed/2ba/1,600+sq.ft./County/Vinyl/on mky 42 days, Selected from
5 between $29,00-$79,900. List: $34,900
Single Family (Vinyl): 3bd/2ba/1 half bath/2car gar./1,600+ sq.ft./Vinyl/County/6-10 yrs./
on mkt. 6 days/Selected from 8 between $114,900-$180,900. List: $159,900
Single Family (Brick): 3bd/2ba/2car gar./1,600+ sq.ft./Brick/County/6-10 yrs./Selected
from 22 between $79,900-$199,900. List: $189,900
You can see by making price comparisons between the Solds of 2006 and the three examples of currently actives today, that there is a considerable difference in the price structure with the mid-range of $160,000 being the closest. One of the main reasons affecting the price structure of properties between $100,000 and$250,000 is the effect of short sales and foreclosures which were not a factor in 2006. Also, the number of properties available in any given price range affects the market price. In fact, the market pressure on price reductions increases dramatically as prices go above $300,000, which means that there are numerous great buys in this area, both in existing homes for sales and new construction. Also, there is a consideration for the lot size, amount of acreage with each of the properties above and they are not listed herein, but there are considerable differences. In my next post I will cover issues within the buyers’ market that most affect homes sales activity.
To see what properties are currently available click here and search on my website.
Disclaimer: the parameters used for both the solds and the currently active are 3bd/2ba/gar./ 6-10 yrs. old city or county, 1,500-2,100 sq.ft., middle of the price range for those available and not waterfront. These examples are not meant to advertise any Broker’s listings. They are being used as statistical comparisons with similar properties sold in 2006 in similar locations.
2006 Double-wide manufactured: 3bd/2ba/1,600 sq.ft. Vinyl/County/6-10 yrs./On mkt. 81 days; List: $49,400
Sold: $59,000
Single Family (Vinyl): 3bd/2ba/2car gar./ 1,600sq.ft./Vinyl/2 story/City/On mkt 40 days: List: $162,900
Sold: $162,300
Single Family (Brick): 3bd/2ba/3car gar./.2,100 sq.ft./Brick/County/6-10 yrs./)n mkt. 77 days: List: $249,000
Sold: $245,000
2009 Double-wide manufactured: 3bed/2ba/1,600+sq.ft./County/Vinyl/on mky 42 days, Selected from
5 between $29,00-$79,900. List: $34,900
Single Family (Vinyl): 3bd/2ba/1 half bath/2car gar./1,600+ sq.ft./Vinyl/County/6-10 yrs./
on mkt. 6 days/Selected from 8 between $114,900-$180,900. List: $159,900
Single Family (Brick): 3bd/2ba/2car gar./1,600+ sq.ft./Brick/County/6-10 yrs./Selected
from 22 between $79,900-$199,900. List: $189,900
You can see by making price comparisons between the Solds of 2006 and the three examples of currently actives today, that there is a considerable difference in the price structure with the mid-range of $160,000 being the closest. One of the main reasons affecting the price structure of properties between $100,000 and$250,000 is the effect of short sales and foreclosures which were not a factor in 2006. Also, the number of properties available in any given price range affects the market price. In fact, the market pressure on price reductions increases dramatically as prices go above $300,000, which means that there are numerous great buys in this area, both in existing homes for sales and new construction. Also, there is a consideration for the lot size, amount of acreage with each of the properties above and they are not listed herein, but there are considerable differences. In my next post I will cover issues within the buyers’ market that most affect homes sales activity.
To see what properties are currently available click here and search on my website.
