Bottom line: We’re not seeing any major home price decline or crash in the South Carolina housing market just yet. The present supply of homes in South Carolina still favors sellers. In June 2022, the number of properties for sale in the state increased by 63.82% year-over-year.
Is the housing market cooling off in South Carolina?
Trend #1: The Market Will Start to Cool
Unfortunately, the booming housing market in South Carolina can’t stay hot forever. While the housing demand reached its peak in May 2022 with 46.2% of homes selling above list price, it has steadily dropped ever since. As of July 2022, only 35.7% of homes sold above list price.
Is Summerville SC A good place to move?
With a population of around 43,000 people, Summerville offers a small-town vibe. Summerville’s blend of suburban amenities and charm is perfect for raising a family. You will have all the comforts of Charleston just down the road. You can find it whether you’re looking for new construction or a charming older home.
Is Summerville SC A good place to live?
Summerville is a actively growing city. With its growing shopping centers and tourism it is a very nice place to live and visit. Summerville is a very active community and also has very good restaurants and food around. Summerville is a rapid growing suburb that continues to change daily.
Are home prices dropping in South Carolina? – Related Questions
Is Summerville SC prone to flooding?
In addition to the heat risk described above, Summerville has minor risk from flooding and moderate risk from wildfires. 1,308 properties in Summerville are likely to be by flooding over the next 30 years.
How far is Summerville SC to the beach?
Distance conversions
| Distance type | Miles | Nautical miles |
|---|
| Straight line distance | 87.64 mi | 76.16 nautical mi |
| Driving distance | 114 mi | 99.14 nautical mi |
What percentage of Summerville SC is black?
Black or African American: 19.74% Two or more races: 3.56% Other race: 2.06% Asian: 1.91%
What is the cost of living in Summerville SC?
Summerville cost of living is 99.4
| COST OF LIVING | Summerville | South Carolina |
|---|
| Health | 95.1 | 102.7 |
| Housing | 94 | 76.6 |
| Median Home Cost | $274,100 | $223,400 |
| Utilities | 107.6 | 103.9 |
What is the crime rate in Summerville SC?
The Summerville SC crime rate for 2018 was 271.5 per 100,000 population, a 6.73% decline from 2017. The Summerville SC crime rate for 2017 was 291.1 per 100,000 population, a 8.75% decline from 2016.
Summerville SC Crime Rate 2002-2018.
| City Name | Population | Rate |
|---|
| Denmark | 2,896 | 310.77 |
| Due West | 1,289 | 310.32 |
| Charleston | 137,092 | 302.72 |
| Summerville | 51,565 | 271.50 |
How much money do you need to live comfortably in South Carolina?
Typical Expenses
| 1 ADULT | 2 ADULTS (1 WORKING) |
|---|
| 0 Children | 3 Children |
|---|
| Required annual income after taxes | $28,727 | $67,145 |
| Annual taxes | $7,613 | $17,795 |
| Required annual income before taxes | $36,340 | $84,940 |
What is a good salary in Summerville SC?
Average Salary in Summerville, SC
| Percentile | Annual Salary | Monthly Salary |
|---|
| 90th Percentile | $79,000 | $6,583 |
| 75th Percentile | $60,000 | $5,000 |
| Average | $44,000 | $3,667 |
| 25th Percentile | $32,000 | $2,667 |
1 more row
What is considered a high salary in South Carolina?
$75,198 is the 90th percentile. Salaries above this are outliers. $2,997 is the 25th percentile. Salaries below this are outliers.
Is it cheaper to live in SC or NC?
People in North Carolina pay a bit more than those in South Carolina when it comes to the overall cost of living, groceries, transportation, housing, and health care.
At what age do you stop paying property taxes in South Carolina?
What is the Homestead Exemption benefit? The Homestead Exemption is a complete exemption of taxes on the first $50,000 in Fair Market Value of your Legal Residence for homeowners over age 65, totally and permanently disabled, or legally blind.
Is SC tax friendly for retirees?
Kiplinger ranks South Carolina as one of the most-friendly states for taxes on retirees. As in North Carolina, South Carolina does not tax Social Security benefits. The state also offers other generous exemptions on other types of retirement income.
What is the best place to live in South Carolina?
9 Best Places to Live in South Carolina
- Lexington.
- Tega Cay.
- Clemson.
- Columbia.
- Greenville.
- Mount Pleasant.
- Hilton Head Island. Hilton Head Island is located between two other famous islands: Tybee and Parris.
- Charleston. Charleston sits in the center of South Carolina’s coast.
What is the prettiest place to live in SC?
15 Best Places to Live in South Carolina
- Mount Pleasant.
- Seven Oaks.
- Fort Mill.
- Forest Acres.
- Charleston. Source: Sean Pavone / shutterstock Charleston.
- Blythewood. Source: WashuOtaku / Flickr Blythewood.
- Isle of Palms. Source: Christian Hinkle / shutterstock Isle Of Palms.
- Greenville. Source: Cvandyke / shutterstock Greenville.
What is the nicest town in South Carolina?
The Most Beautiful Towns and Cities in South Carolina
- Beaufort. Architectural Landmark. View.
- McClellanville. Natural Feature.
- Edisto Island. Natural Feature.
- Charleston. Architectural Landmark.
- Greenville. Natural Feature.
- Hilton Head Island. Natural Feature.
- Georgetown. Historical Landmark.
- Mount Pleasant. Architectural Landmark.
What is the wealthiest city in South Carolina?
Where do rich people hang out in SC?
List: 10 Richest Places in South Carolina
- Bluffton. Shutterstock. Population: 20,799.
- Mt. Pleasant. Shutterstock.
- James Island. Shutterstock. Population: 12,076.
- Fort Mill. Shutterstock. Population: 17,692.
- Simpsonville. Shutterstock. Population: 22,234.
- Lexington. Shutterstock.
- Tega Cay. Shutterstock.
- Hilton Head Island. Shutterstock.