Factors Influencing the Growth of Greenville’s Real Estate Industry

For a long time, the real estate market in Greenville was nothing but a shadow. Abandoned storefronts and overgrown vegetation were a common sight in the formerly vibrant textile town. However, close to two decades, revitalization efforts in the town saw a complete turnaround. Today, Greenville is a vibrant town full of promise, with small businesses filling empty storefronts.

One of the major forces behind the town's successful revitalization is the influx of major manufacturers to the region. With its central location, low-cost workforce, and business-friendly climate, this town has been bringing in people in great numbers. It's the surge in population that has made Greenville a…

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Reasons for the Architectural Billings Increase in Greenville

Did you know that architectural billings hit the 53.3 mark (the highest ever post-pandemic) last February? Architectural billings are the leading indicator of future construction. There has been an increase in billings since February 2021, which came after the collapse due to the pandemic. It’s worth noting that an ABI score above 50 is an indication of an increase in billing.

The architectural billings realized a positive rate that is slightly higher than the normal national rate in the South because most states in the South bounced back to business earlier than the rest of the U.S. 

Why Architectural Billings Increased in Greenville

Greenville has been on its knees for the last…

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Thriving Competition in Greenville’s Real Estate Market

There is a low supply of houses in Greenville, South Carolina, right now. In some cases, it’s bad business if supply can’t meet demand. In the case of one of South Carolina’s stunning housing markets, supply and demand are both competitive. Homeowners and investors in Greenville have ample opportunities to buy or sell. What’s a challenge, however, is the leeway that you have when bargaining your buy or sell price. Right now, the market is tight. 

Why Is Greenville’s Housing Market So Hot?

In a tight housing market, the pressure of buyers and sellers is competitive. The results are prices that sit at a specific range. You won’t have the chance to save a lot by lowering prices. In typical…

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How Affordable is Real Estate in Greenville?

Greenville, SC, is an affordable place to live. The median home price rose about 10% (2020-2021) to about $280,000, while the U.S. median home price remains above $400,000. However, other factors are also involved in housing affordability other than just prices. Affordability can vary widely within markets, even within cities. The main affordability factors are housing costs (prices), income levels, and the number of buyers relative to listings. Greenville has an advantage because it's growing fast. This growth provides more employment opportunities than other large Southern metros like Atlanta, Dallas, or Charlotte. Job growth was at 4% between 2014 and 2017.

Relative Number of Buyers to That of House…

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Industrial Factors Responsible for Greenville’s Economic Growth

In the past years, Greenville’s economy solely depended on textile manufacture. It was such a successful industry that Greenville was named the "Textile Capital of the World." Today, Greenville’s economy has diversified. New industries and companies have been established, and the city’s economy is thriving. Here are some of the factors responsible for Greenville’s economic growth.

Technology

Technology is the backbone of many thriving companies in Greenville. These companies use technological resources as a means to produce goods and services innovatively and efficiently. Apart from these, technology has also led to significant economic growth and development in Greenville. It has…

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The Strong and Steady Housing Market in Greenville

Over the years, more and more people have become interested in the real estate market. That's because, if everything goes well, it can turn out to be a lucrative investment. Among the areas with a strong and steady housing market is Greenville, South Carolina.

Located in one of the fastest-growing areas in the United States, Greenville stands tall as one of the leaders in today's economy. The area has evolved from being a majorly agricultural and textile economy to one of the fastest-growing cities in the country. Since June 2011, Greenville has seen an increase in jobs, permits as well as home prices.

In fact, it is reported that Greenville has seen one of the longest consecutive stretches of…

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Why Greenville Has Enough Rentals for Apartment Seekers

The population of Greenville is growing very fast. This comes with more people looking for housing. People moving to the area want to find a place they can call home and enjoy their new life in this beautiful city. A population boom is causing an immediate need for housing across the entire state. There is enough inventory of rental properties available for those who need them. However, the increasing population growth may result in a housing shortage in the near future. Although there are developers willing to construct a multifamily building, getting a permit is not easy. We will share some statistical information derived from recent research.

Rental Rates Rises

The city's rental vacancy…

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Why the Housing Inventory in Greenville Is Low

Greenville is the sixth-largest city in South Carolina State. It is located on the northwest side of this state, and around 71,000 people live in this city. It has several cultural and entertainment centers, including museums, playgrounds, and exhibition centers.

Many people love Greenville because of its favorable weather and low cost of living. However, the housing inventory in this city has gone down over the past year. Below are more details on why the housing supply in Greenville has become tight.

Population Growth

The number of people living in Greenville has increased over the past few years. According to research, this city's population has increased by 21% over the last decade. The…

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What Strengthens Greenville's Real Estate Market?

The Greenville real estate has continued to witness an upward trajectory despite the COVID 19 pandemic. The steady growth is attributed to the government’s decision to reopen the economy following the initial closure to curb its spread. It is an exciting city full of small businesses and industries. The following factors have strengthened the growth of real estate. 

Low Unemployment Rate

First, real estate has benefited from a low unemployment rate. Due to the availability of steady employment, people have migrated into Greenville seeking job opportunities. The data collected show that approximately 3000 remote workers have moved into the city because of the nice weather, affordable houses and job…

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Greenville's Ability to Reinvent Itself With Real Estate Investors

Greenville has managed to reinvent itself. Initially, it was considered an old sleepy textile town. The city invested in its airport, thus attracting real investors to the city. The BMW car manufacturing industry was among the investors who were attracted by Greenville. Currently, the BMW car manufacturing industry is the largest industry that manufactures cars in the Southeast. 

Greenville is still focusing on its growth and recently came up with a comprehensive plan known as GVL 2040 that will be used to shape the growth and evolution of the city, in a way the community prefers to grow. There are several reasons why Greenville is attracting investors.

The Rapid Growth of Remote…

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