Upstate: a luxury home market?

According to the morereport, Greenville/Spartanburg is a strong market for luxury homes.  Check out these statistics of home closings by price range:

• July 1, 2013-June 30, 2014: 34 homes closed for more than $1 million
• July 1, 2013-June 30, 2014: 82 homes closed for $750,000 to $999,999
• July 1, 2012-June 30, 2013: 24 homes closed for more than $1 million
• July 1, 2012-June 30, 2013: 49 homes closed for $750,000 to $999,999

These numbers are supported by The Market Edge, which found that 18 percent of all homes permitted in the Upstate were over 4,000 square feet in size or more than $400,000 in permitted value.  By comparison, Asheville is similar at about 19 percent, Charlotte is 16 percent, Raleigh is 22 percent, and Columbia is 13 percent.

Sources: morereport.com and themarketedge.com