Home values in SC have seen some of the biggest increases in the country, study says
South Carolina is among the top 10 states in the country that have gained the most in home value in the past year.
New research, conducted by real estate website TNRealEstate.com, which helps buyers find homes for sale in Tennessee, used data gathered from Zillow’s Home Value Index to compare the average home value in every state for 2021 and 2022 to see where the most outstanding percent increases in value were located.
The study found that home values were indeed driven up in every state during those years.
Of the states on the list, South Carolina ranked seventh among all of the states for the biggest price increase in home values. Each South Carolina home reportedly increased its value by an average of 21.84%.
The average value of homes in the Palmetto State increased from $192,425 in 2021 to $238,871 in 2022. This was a $46,446 increase.
In first place, Florida saw the biggest increase in home values. The state had an average of 29.41% increase. It had a substantial increase of $82,412 from the 2021 average value of $265,763 to the 2022 value of $348,175.
Hawaii landed in second place. Each home in the Aloha State saw an average of 27.25% in home value. Hawaii was already the highest average of home values in 2021 at $667,270, with the 2022 average being $845,688. This was an increase of $178,418.
Here are the top 10 states with the biggest increases in home values, accompanied by their average percentage increase, according to the study based on Zillow data.
Florida: 29.41%
Hawaii: 27.25%
Montana: 26.01%
Arizona: 24.75%
Tennessee: 23.18%
Colorado: 22.74%
South Carolina: 21.84%
Utah: 21.77%
North Carolina: 21.74%
Nevada: 21.74%
