Most Overpriced Housing Markets Include 3 In South Carolina
So, it’s no secret the housing market over the last few years has been exploding with people paying insane prices for homes across the country. But, the most overpriced housing markets in the nation include 3 in South Carolina.
As it turns out, according to the Rock Hill Herald, researchers from Florida Atlantic University and Florida International University, analyzed data from Zillow to determine markets with over valued homes.
And, when they examined the percentage difference comparing expected price of a home and what buyers actually paid, the difference shows where over valued markets are.
Most Overpriced Housing Markets In South Carolina
So, after the study, researchers indicated 3 of the most overpriced housing markets in America include these 3 in South Carolina.
We’ll start with the data for Columbia, where the expected price of a home is just over $192,000. However, the average price buyers paid was around $246,000 for a difference of 27.98%.
Then, there’s Greenville, South Carolina where buyers paid more than $292,000 versus and expected price of $229,000. And, that is a difference of 27.73%.
Finally, Charleston comes in with a difference of 26.85%. The expected prices hovered around $340,000 and some change versus the price buyers paid which was $432,000.
And, although researchers says the rise in home prices in the Palmetto state is slowing, it’s still high.
Currently, my family rents in South Carolina. And, of course rental prices are crazy. But, in our area of Indian Land, the growth is out of control along with the home prices.
It’s a very desirable place for homeowners to be. The schools are good, the taxes aren’t bad and there’s plenty of beautiful neighborhoods.
Plus, many people come to South Carolina for second homes or vacation investments for rentals, especially at the beach. Climate and outdoor activities lure folks in as well.
The Full Analysis Of Most Overpriced Housing Markets
And, for more info, see the full study of the most overpriced housing markets in America.
South Carolina Named In The Top 3 Most Charming States
10. Mississippi
Southern Charm: 3.1
Politeness: 3.1
Helpfulness: 3.1
Friendliness: 3.1
Total: 12.3
It doesn’t get much more south than Mississippi. They ranked 10th from other state’s point of view but number 1 in their own minds.
9. Texas
Southern Charm: 3.1
Politeness: 3.0
Helpfulness: 3.1
Friendliness: 3.2
Total: 12.4
Everything is bigger in Texas. And the Lonestar state is charming just not the most charming.
8. Virginia
Southern Charm: 3.0
Politeness: 3.1
Helpfulness: 3.1
Friendliness: 3.2
Total: 12.4
Virginia is for lovers. Lovers are charming. See where I’m going here?
7. Alabama
Southern Charm: 3.3
Politeness: 3.1
Helpfulness: 3.1
Friendliness: 3.2
Total: 12.8
Sorry, Alabama this is one national championship you didn’t win. I do love watching Bama Rush though.
6. Kentucky
Southern Charm: 3.2
Politeness: 3.2
Helpfulness: 3.2
Friendliness: 3.3
Total: 12.8
Kentucky is the South, but somehow not the South at the same time. It’s a battle of culture vs. location. But the Bluegrass state came in 6th on this list.
5. North Carolina
Southern Charm: 3.3
Politeness: 3.4
Helpfulness: 3.4
Friendliness:3.4
Total: 13.4
Are you surprised North Carolina didn’t score as charming as South Carolina? As a North Carolina resident I’m actually not.
4. Louisiana
Southern Charm: 3.4
Politeness: 3.3
Helpfulness: 3.3
Friendliness: 3.4
Total: 13.5
I don’t no much about Louisiana other than New Orleans, Mardi Gras, and football. But I suppose all of that is charming.
3. South Carolina
Southern Charm: 3.5
Politeness: 3.4
Helpfulness: 3.4
Friendliness: 3.5
Total: 13.8
And there we have it folks, South Carolina was the third most charming state. And with Charleston being almost my definition of southern charm I support this. But then there is downtown Myrtle Beach probably why SC didn’t take the top spot. No hate to Myrtle Beach, but downtown at night isn’t quite charming.
2. Georgia
Southern Charm: 3.6
Politeness: 3.4
Helpfulness:3.4
Friendliness: 3.5
Total: 14.0
If Charleston is the first place I think of when I think of southern charm Savannah Georgia is the second. And it’s second on this list.
1. Tennessee
Southern Charm: 3.6
Politeness: 3.5
Helpfulness: 3.5
Friendliness: 3.6
Total: 14.1
And the most charming state? Tennessee takes the crown.
