Greenwood appreciation rates and housing market information

Greenwood housing market information

With 21,870 people, 9,406 houses or apartments, and a median cost of homes of $124,138, house prices in Greenwood are solidly below the national average.

single-family detached homes are the single most common housing type in Greenwood, accounting for 63.86% of the city's housing units. Other types of housing that are prevalent in Greenwood include duplexes, homes converted to apartments, or other small apartment buildings (15.97%), large apartment complexes or high rise apartments (12.05%), row houses and other attached homes (4.38%), and a few mobile homes or trailers (3.74%).

People in Greenwood primarily live in small (one, two, or no bedroom) single-family detached homes. Greenwood has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Greenwood's housing was primarily built during this period, from the '40s through the '60s. A full 51.39% of the city's housing hails from this era. Other housing ages represented in Greenwood include homes built between 1970-1994 (27.68%), and housing constructed from 1939 and earlier (12.85%). There's also some housing in Greenwood built between 1995 and later (8.08%).

Greenwood home appreciation rates

Real estate appreciation rates in Greenwood have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.50% during the period.

Over the last year, Greenwood appreciation rates have trailed the rest of the nation. In the last twelve months, Greenwood's appreciation rate has been -0.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Greenwood were at 0.31%, which equates to an annual appreciation rate of 1.24%.

Relative to South Carolina, our data show that Greenwood's latest annual appreciation rate is higher than 30% of the other cities and towns in South Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Greenwood differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Greenwood - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Greenwood real estate investment or home purchase decisions.