According to South Carolina Realtors survey, the housing market in the state was slowing. Based on the study, 9,670 homes were sold in South Carolina in August 2019, a 0.2% decrease from the same time in 2020 when 9,686 households were sold.
Given South Carolina’s hundreds of miles of coastline, an abundance of lakes, and breathtaking mountain vistas, it’s no wonder that the state is home to some extremely expensive mansions. South Carolina’s real estate market is one of the most coveted in the country, and some people are prepared to pay any price to have a piece of it.
Take a look at this list of the most expensive house sales in South Carolina and learn more about the current real estate market.
Overview of the South Carolina Real Estate Market
Purchasing a home is an investment and one that is becoming increasingly pricey. The state’s overall population exceeds 4.7 million people and is quickly rising, with the 10th population increase rate in the country of approximately 4.5%.
One explanation for this surge in expansion is that South Carolina has become a retirement hotspot, drawing retirees and second owners with its mild temperature, gorgeous beaches, and countless golf courses.
You may be a homeowner who is wondering, “Who will buy my house Rock Hill?” When it comes to house buying or investing in rental properties, homebuyers have a lot to think about, from the status of the housing market to taxes and prospective resale value. The housing market has grown robust in the decade since the 2008 recession, but increasing interest rates may dampen the market.
The median home price in Myrtle Beach, a famous beach town, was $171,795 in 2015, even though it was $298,814 in historic Charleston. In comparison to several of Florida’s most prominent coastal areas, such as Palm Beach or Naples, South Carolina maintains a reasonable value.
The median property value in the state was $144,615, about $40,000 less than the national average, and the typical family income was $42,367, ranking it in the bottom 10 states for household incomes.
Prime Real Estate Prices in South Carolina
Despite low inventory levels, South Carolina had a great year in 2017, reaching an all-time high for house sales, as per the South Carolina Association of Realtors. South Carolina is now defined as a seller’s market, with year-over-year median house sales prices up 7.1% in the Charleston MSA, 12.07% in the Greenville MSA, and 6.52% in the Columbia MSA, according to the Federal Reserve Bank of Richmond.
As seen by Travel and Leisure, Charleston is the best city in the United States for the fifth year in a row, and with Greenville coming in third and Hilton Head being voted the best island in the country, South Carolina is home to a variety of luxury residences.
Due to the Palmetto State’s rich history, there are several grand historic residences that are among the most expensive in the state. In fact, two of South Carolina’s top ten most expensive properties for sale right now are 200+-year-old square-foot mansions, while the state’s most expensive apartment is 107 years old.
The most expensive houses for sale in South Carolina currently are in private gated neighborhoods or Charleston’s legendary historic heart, with prices ranging from $8,995,000 to $19,999,999.
Golfing activities, bowling alleys, coastal sites, swimming pools, tennis courts, car garages, home movie theaters, and gourmet kitchens are all essential for these expensive mansions, along with beautiful gardens, huge outdoor living areas, and fireplaces.
The most expensive apartment for sale in South Carolina currently is a nine-bedroom residence in one of Charleston’s most elite gated neighborhoods with 200 feet of Atlantic Ocean beachfront.
The Most Expensive Home Sales in South Carolina
Property billionaire and former President Donald Trump, as well as hedge fund manager Ken Griffin, and Jeff Bezos are always seeking excellent luxury real estate in New York City, Malibu, Manhattan, and California. However, today’s investors are looking outside Bel Air, Los Angeles, and Beverly Hills for properties.
The following is a list of the top 15 most expensive house sales in South Carolina. The majority of these mansions are purchased outright in cash by real estate tycoons, billionaire celebrities, or tech moguls.
Belle Terre is an exceptional yet cozy personalized estate, developed in 2015 by Gabriel Builders, established on 38 acres of private life and serenity, magnified by architect Dabney Peeples, with the expertise of the Collins Group. A peaceful haven. Only three minutes to Five Forks, and 15 miles to GVL’s enticing downtown restaurants, arts, and nightlife.
- Asking Price: $10,399,681
This is a private 158-acre equestrian estate with a gated entry, a horse barn with 11 stalls, a stocked lake, and bespoke landscaping. The 16,000-square-foot penthouse is ideal for entertaining and relaxing with family. It also has a gourmet kitchen, an opulent Master Suite with a steam room and fireplace, and a separate apartment with guest houses on the second level.
- Asking Price: $10,000,000
Southern Oak Farm would like to welcome you to an unrivaled equestrian estate situated between the Palmetto Bluff gates and 14 Rosecourt Rd. It has more than 7000 sq ft of superb craftsmanship throughout the five bedrooms and spans approximately eight acres.
- Asking Price: $9,250,000
When architectural genius is combined with creative daring, the outcomes can revolutionize the definition of excellence in residential house design. The home itself is a genuine work of art, meticulously created to the greatest possible standard with a profusion of quality finishes and modern conveniences.
- Asking Price: $8,500,000
A once-in-a-lifetime opportunity to purchase one of Hilton Head’s most desirable and successful rental properties. The nine-bedroom, eight-bathroom direct beachfront Sea Pines mansion is already expected to receive $592,000 in rental revenue planned for 2022 ( projections of up to $627,000) and provides a cash ROI of more than 7% from day one.
- Asking Price: $7,995,000
Egret Landing welcomes you to one of the most beautiful properties in the Lowcountry. 12,000 square feet of supreme luxury await on a beautiful 17+ acre deep-sea peninsula. Enjoy the typical Lowcountry panoramas while relaxing on the large patios and swimming in the custom infinite edge saltwater pool.
- Asking Price: $7,800,000
There are just a few localities in the U.S. where one can claim to have lived in the house of a “Founding Father.” From 1763 until his death in 1800, Edward Rutledge, a signer of the Declaration of Independence, resided in this beautiful Georgian-style home.
- Asking Price: $7,495,000
Weehaw Plantation, located about north of downtown Georgetown, dates back to the 18th century. The peacefulness of this location is unrivaled, nestled among the area’s beautiful oaks and lofty pines. Weehaw Plantation encompasses 1029.6 acres in total.
- Asking Price: $6,800,000
This luxury simple custom-built commercial property, located half a block from Center Street, was finished in 2018. ‘Slightly off Center’ features four-four bedroom houses, each with its own swimming pool and more than 1,600 square feet of luxurious living space. This upscale commercial development’s gross income now surpasses $600,000 per year and is expected to exceed this figure in 2022.
- Asking Price: $6,750,000
Pine Creek’s Homestead offers a rare chance to purchase a 977+ acre property with great forest and hunting acreage for a range of recreational, equestrian, and sports hobbies, as well as a private house with spectacular views and calm settings.
- Asking Price: $6,559,000
Enjoy the lifestyle that this gorgeous 978-acre estate has to offer in an ideal location five miles from the great city and the famed Augusta National Golf Club. When you enter the main home, you’ll discover an open-plan living space, a brick fireplace, and a large sunroom with a view of the lake.
- Asking Price: $6,500,000
A beautiful home on a waterfront lot with dock and lift, with four bedrooms, six bathrooms, and three half baths. Pecky Cypress walls, Alder customized doors, Wormy Chestnut flooring, vaulted ceilings, gutters and pipes, copper roof, hardwood floors in all six bathrooms, the kitchen, and butler’s pantry.
- Asking Price: $6,500,000
Excellent location, just adjacent to the College of Charleston campus. All four properties (1 Montagu, and 1-1/2 Montagu, 31 Coming, 29 Coming) are connected and must be acquired as a unit (will not be sold individually). There is parking for around 20 automobiles. Currently, all properties are leased.
- Asking Price: $6,450,000
A really remarkable deep water property with panoramic views of Calibogue Sound to the west.
INSIDE: Open-concept living area with gourmet kitchen, convertible family room with concealed electronic screen system, dining room with display wine cellar, media room, office, opulent owner’s suite, covered porch, and wide waterfront balcony.
OUTSIDE: A private dock, a free-form pool with a bridge, an electric boat lift, fountains, rafter tails, uplit specimen Oaks, and a brand new 2019 shake roof made of cedar.
- Asking Price: $6,300,000
A beautiful six-bedroom, seven-bathroom restored beachfront home in Black Duck with excellent ocean views, about 6,200 warmed square feet, and medium warm wood accents. The deck and oceanfront pool are located on a private beach boardwalk with an additional sitting space.
- Asking Price: $6,200,000
The average house value in South Carolina is approximately $257,000. This number is seasonally adjusted and only covers residences in the medium price range. South Carolina property prices have increased by 21.7% in the last year.
Depreciation impacts all properties at an average rate of 3.6% each year, which may be advantageous throughout tax season if you utilize your property for rents or commercial purposes, but it can cost you subsequently in taxes on capital gains if you sell.
However, don’t be anxious, we buy houses in Fort Mill and other locations in South Carolina.
Tiffany Property Investments LLC boasts to be among the best companies that buy houses in South Carolina. We recognize that life does not always go as planned and that your mortgage may no longer be compatible with your personal budget. We can also help you get out of mortgage without penalty.
Whether you are investing in a luxury house, selling, or buying in South Carolina, you should be aware of how much such property is currently selling for. Additionally, you can have a look at the expensive home sales in NC.