Metropolitan Statistical Area (MSA):
Greenwood, SC is a Metropolitan Statistical Area (MSA) comprising counties including .
There are many factors influencing the real estate market in Greenwood, SC. The economy, job market, interest rates, and population growth are all important drivers of the housing market.
The Greenwood metropolitan statistical area (MSA) has seen strong population growth in recent years. This has led to increased demand for housing, which has driven up prices. The median home price in Greenwood is $180,000, which is up 8% from last year. The average rent for a three-bedroom apartment is also up 3% to $1,050 per month.
The job market in Greenwood is strong, with an unemployment rate of just 4%. This low unemployment rate is attracting new residents to the area, which is further driving up demand for housing. Major employers in Greenwood include Self Regional Healthcare and Lander University.
Interest rates remain at historically low levels, making it an affordable time to buy a home. However, with prices on the rise, some buyers are being priced out of the market. For those who are able to buy a home in Greenwood now, it is a good time to do so before prices continue to increase.