Slow and steady is the theme for the Columbia real estate market in 2016. The median home price for Columbia real estate was $165,500 during the second quarter, compared to the national average of $239,167. Although price growth has slowed in recent months, home prices are actually up from a year ago. Like Albany, New York and Richmond, Virginia, the Columbia real estate market also witnessed minimal gains in terms of total equity during the first-half, which saw properties appreciate at a much slower rate than the rest of the country. However, a combination of new housing construction and home affordability should continue to push the Columbia real estate market in the right direction in 2016.

Columbia, SC Real Estate Market Statistics:

One of the primary benefits of homeownership is total equity appreciation. Earned equity for Columbia real estate continues to experience subpar numbers in 2016, falling drastically behind the national average, as the one-year appreciation rate for Columbia real estate was 5.2 percent during the second quarter, compared to the national average of 4.9 percent. However, things begin to severely slow down in year three, as appreciation rates for Columbia real estate rose slightly to 11.7 percent, while home appreciation across the country grew at a rate of 17.8 percent. The trend continued from year five to year seven, with appreciation gains for the Columbia real estate market continuing to fall short of the national average. That said, Columbia, real estate investing could heat up in the next few years as the market begins to trend upwards. For those considering Columbia real estate investments, the following provides a breakdown of appreciation rates in previous years:

  • Homes purchased in the Columbia, SC housing market one year ago have appreciated, on average, by $10,797. The national average was $14,963 over the same period.
  • Homes purchased in the Columbia, SC housing market three years ago have appreciated, on average, by $25,097. The national average was $46,878 over the same period.
  • Homes purchased in the Columbia, SC housing market five years ago have appreciated, on average, by $29,340. The national average was $82,353 over the same period.
  • Homes purchased in the Columbia, SC housing market seven years ago have appreciated, on average, by $42,745. The national average was $77,054 over the same period.
  • Homes purchased in the Columbia, SC housing market nine years ago have appreciated, on average, by $35,661. The national average was $31,126 over the same period.
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