Simpsonville Among State's Most Expensive RE Markets

As a home seller this could be considered good news; as a home buyer, maybe not so much.

In the just-released Coldwell Banker Home Listing Report, the city of Simpsonville ranks as the 10th most expensive housing market in South Carolina.

The report said the average cost of a four-bedroom, two bath home in Simpsonville was $241,462.

Meanwhile, Greenville ranked 8th. The only other Upstate cities in the top 10 was Seneca, ranked 7th, and Tega Cay, ranked 5th. (CLICK HERE to see the complete S.C. list).

The state's most expensive market was Mount Pleasant, near Charleston, where the average price for the same house was $378,164.

Simpsonville's next-door neighbor, Mauldin, was not among the markets analyzed.

Nationally, the report found the average listing price of a four-bedroom, two-bathroom home in the U.S. to be $292,152. Only three S.C. markets — Chapin ($324,162), North Myrtle Beach ($373,710), and Mount Pleasant ($378,164) — exceeded the national average, the report indicated.

Serving as an analysis of the most expensive and affordable markets across the country, the Coldwell Banker HLR is designed to provide a snapshot of the average listing price of four-bedroom, two-bathroom homes across the country. This year’s report analyzed more than 72,000 home listings in more than 2,500 select U.S. markets, comparing the listing prices of similar homes in markets across the country from January 2012 to June 2012.

The five most expensive markets are all in California, with four in the San Francisco Bay Area. Los Altos, Calif. ($1,706,688) tops the list, followed by Newport Beach ($1,658,000), Saratoga ($1,582,434), Menlo Park ($1,506,909) and Palo Alto ($1,495,364). 

But even with these high priced markets, California was not the most expensive state. The average listing price of a four-bedroom, two-bathroom home in California ($431,625) is less than both Hawaii ($742,551) and Massachusetts ($489,063).

In contrast, the most affordable market this year is Redford, Mich., where a similar home listed at $60,490 — a listing price difference of more than $1.6 million from the most-expensive market. In fact, 28 homes can be purchased in Redford for the price of a similar home in Los Altos.