If you find yourself thinking about a visit or even a move to Lexington, South Carolina – which is quite understandable given its charm – you’ll find this city has an array of exciting opportunities just waiting to be discovered! Nestled close to Columbia (the state capital). Picturesque Lexington beckons with its distinct charm a haven where artistic endeavors thrive amidst small-town allure augmented by numerous conveniences including delectable dining establishments as well as an assortment of shopping options galore!
What are the Current Trends In Lexington SC Real Estate?
Lexington SC: A Real Estate Market on the Rise
The Lexington real estate market continues to be dynamic and highly competitive. As of June 2023, the median list price was $337,000, while the average home sale price came in slightly lower at $315,000, signaling some room for negotiation. The housing inventory expanded significantly in June to 915 homes, compared to the 280 homes sold in May.
Although June’s closed home sales slightly dipped to 268, the average days on the market drastically decreased to just 10, showcasing a highly efficient and fast-moving market. The average price per square foot for sold properties was $147.00, slightly lower than the listing average of $159. These statistics reflect a competitive but negotiable market environment, with the potential for further price increases in the coming months due to high buyer demand.
Trends and Predictions in Lexington’s Competitive Real Estate Market
Peek back to last year and you’ll notice some serious changes in our housing market. It’s like the asking price for homes decided to take a big hike, ramping up by about 31%. But hold on, the selling price decided to take a leap too, jumping even higher with a 38.1% increase. Now that’s what I call a price hike!
Interestingly, between May and June, the homes hitting the market spiked by a whopping 87.9%. But here’s the kicker, even with that big jump, we’re still playing catch up to last year’s average. Talk about a plot twist, right? Now, we’ve got some potential speed bumps ahead. Think of climbing interest rates and inflation. These could potentially slow our market’s sprint as we venture into the year’s latter half.
The real estate pros seem to agree – Lexington’s home market is staying in the fast lane for the foreseeable future. So, let’s buckle up and enjoy the ride because it sure looks like we’re in for a wild one!
Key Market Indicators to Monitor
- Several trends are emerging in the Lexington real estate scene that homebuyers and investors should keep a close eye on:
- The demand for single-family homes continues to outstrip supply.
- The median home price in Lexington is projected to sustain its upward trajectory in the coming months.
- Despite recent increases, the inventory of homes for sale is predicted to remain low.
- Buyers are showing increased competitiveness, leading to more prevalent bidding wars.
For those contemplating purchasing a home in Lexington, South Carolina, preparation is key. Given the fierce competition, partnering with a seasoned real estate agent who can guide you to a home that matches your needs and financial capabilities is of paramount importance.
What Types of Homes are Available In Lexington, SC?
Lexington, SC has a variety of homes to fit all styles. Love classic beauty? Check out the area’s popular Colonial-style homes. Fans of comfy, traditional designs will adore the Craftsman-style houses. For a modern touch, there are contemporary homes loaded with the latest features. If you prefer everything on one level, Ranch-style homes are for you. If easy-care living is what you’re after, we have a selection of townhomes, condos, and multi-family homes. If luxury is your thing, there are plenty of high-end choices too. In short, Lexington, SC has something for everyone.
Who are the best builders for custom home building in Lexington?
Lexington, SC has a variety of custom home builders, from experienced contractors to large construction companies. Some of the best include Vesta Builders, Celtic Works, Kinsey Homes, and Magnolia Builders. These builders ensure quality craftsmanship and customer service, and complete projects on time and within budget. Here are a few of my personal favorite custom home builders in and around the Lexington, SC real estate area.
- Vesta Builders: Established in 1999, Vesta Builders, Inc. merges engineering prowess and artisanal craftsmanship to create timeless, customized homes tailored to each client’s needs. With their meticulous attention to detail and commitment to open communication, they ensure a seamless and pleasant homebuilding journey.
- Celtic Works: Founded by David originally from Dublin Ireland in 1994, Celtic Works is revered in Columbia, SC for its exemplary woodworking and ethical construction practices. With a unique pre-construction process that promises meticulous planning, transparent costing, and no surprises, Celtic Works embodies the ideal blend of Irish craftsmanship and upfront business integrity.
- Kinsey Homes Kinsey Homes, LLC, a South Carolina-based builder with over 33 years in the industry, specializes in crafting homes tailored to the local lifestyle, nurtured by strong one-on-one relationships with all stakeholders. Led by Mark Kinsey, with an astounding 72 years of combined experience in real estate and construction, the company stands as a paragon of high-quality, detail-oriented construction and unmatched customer service.
- Magnolia Builders helmed by the dynamic duo Scott and Susan Walter, is a family-operated builder known for their commitment to detail, personal service, and one-stop solutions, including real estate services through Scott’s licensure with ERA Wilder Realty. With over 20 years of experience in the national homebuilding arena, a strong network of subcontractors and suppliers, and a reputation built on quality and integrity, they leverage their construction management backgrounds and organizational skills to deliver excellent value and timely completions in the Columbia area.
If you are looking for a custom home builder in Lexington, SC, I would consider one of these companies as your first choice.
How Can I Find a Real Estate Agent Specializing In Lexington, SC?
Scouting for the perfect real estate agent to help you navigate the Lexington, SC housing market might seem like a tough task, but don’t worry. You can make it easier by simply turning to your friends and family. The internet is your friend too. There are loads of online reviews and ratings for local real estate agents, offering a clear window into what the Lexington community thinks of them.
And hey, maybe your treasure map leads right here. Crystal, who’s been living and breathing Lexington SC for over 26 years, knows this area like the back of her hand – from Lake Murray to Chapin, and even the charming Gilbert. Thinking about venturing into downtown Columbia SC? She’s got you covered there too. Crystal has a wealth of experience from her time at RE/MAX Advantage Group. Her local know-how isn’t just limited to one spot on the map. So, why not keep it simple and choose an agent who’s walked these streets before? With Crystal, finding your dream property could be as easy as asking for a recommendation or doing a quick internet search.