Spartanburg & Boiling Springs Home Values in 2009

Yesterday we looked at the long term trend of house values on a national basis and saw that home prices increased in value significantly.  We also discussed in the short term a trend will experience peaks and valleys, ups and downs if you will.  Today we will look at.  .  .

Spartanburg County Home Values for calendar year 2009.

In 2009 the national median home price declined 12%.  Compared to some of the swings we have seen in the DOW and other stock indexes this is a rather tame change after a period of such robust growth.  Long term annual price appreciation has been 4%.  While few like to see a pull back in values the decline is still a move towards the norm and a reflective market change considering government intervention into financing and job creation (or is it destruction?).

Locally Spartanburg home values decreased 9% and Boiling Springs house values decreased 9%.  I was not surprised to see the Boiling Springs value decrease 9% as I had been telling clients we have seen about a 10% decrease in our house values.  I was surprised that the Boiling Springs area did not outperform Spartanburg however as I expected a slightly larger decline here.  I suspect that Spartanburg felt the financial impact of the economic slow down earlier and reflected the price decrease in 2007 and 2008. Still our community as a whole significantly outperformed the national market over the last few years to the tune of being named the #3 market in the country!  Even with our strong performance over the last few years we still out performed the national market in 2009 decreasing 9% compared to 12% nationally.

I suspect we will continue to see downward price pressure locally with higher levels of inventory, some motivated sellers, and increasing interest rates shrinking the buyer pool leading the trend.  Still, our local market should continue to outperform the national housing market as South Carolina is an affordable, beautiful place to live that the rest of the country is still discovering.

Keep Looking Up     – Luke Ch21 Vs28

Rob

Keller Williams Continues to Grow Despite Falling Agent Numbers

Keller Williams Realty has carved out a unique niche in the competitive real estate market of Greenville, Spartanburg, and Boiling Springs.  It’s God first hierarchy of priorities has attracted agents from across SC and NC while agents in general are leaving the industry for greener pastures.  All 100% commission sales positions can be difficult and without the right on-going training and support all agents can feel overwhelmed  from time to time.

This is what sets Keller Williams apart from their core competitors.  A commitment to helping agents succeed.  If you have ever driven down the road and saw a “career night” sign out in front of a real estate agency week after week the normal question is “Why is there always an opening there?”.

This link will show you the change in the number of agents in SC and NC by company.  In an industry that is losing agents in droves, many agents are finding a home at Keller Williams.