Surge in High-Value Property Transactions in York County

York, South Carolina – The month of June saw a surge in high-value property transactions within the tri-county region of York, Chester, and Lancaster, with over 30 properties sold for more than $1 million. This trend has drawn significant attention towards residential properties, especially in the rapidly developing Fort Mill area.

A notable highlight of the June transactions was the acquisition of a 21-acre commercial property by NL Ventures XIV Ratchford for $18 million on June 26. This property, which includes a massive warehouse built in 1979, adds to the commercial appeal of York. Other significant sales included the Old Cotton Factory on Chatham Avenue, which was purchased by Bass & McFadden for $8 million on June 13; this site has shifted from its textile roots to become a mixed-use area.

The commercial landscape was further bolstered by Elmeco Properties, which secured a 10,000-square-foot warehouse in Rock Hill for $2 million on June 26. Built in 2003, this space currently serves as an office for Fogel Services. Meanwhile, C.F. Smith Property Group from Pinehurst acquired two properties along U.S. 21 in Fort Mill for $2 million on June 4, which includes commercial buildings alongside a 2,900-square-foot home.

Additionally, Transformation Church obtained the former Good Samaritan UMC property in Lake Wylie for $1.9 million on June 9, marking a significant community development. Homebuilder Taylor Morrison, interested in the growing housing market, purchased 21 lots in Indian Land for $1.7 million on June 24. Meanwhile, Codo Investments bought 18 rental properties in the College Downs neighborhood of Rock Hill for $1.7 million on June 13 and AM Jackson Real Estate obtained a 3,600-square-foot medical office building in Fort Mill for $1.5 million on June 16.

A detailed analysis of residential sales reveals that of the 23 homes sold for over $1 million, Fort Mill accounted for half with 10 properties sold. Indian Land followed with five high-value transactions, while Tega Cay saw four. The highest residential sales were recorded in Springfield, Fort Mill, where two homes sold for $1.9 million and $1.8 million, respectively.

As a whole, the first half of 2023 has experienced a remarkable acceleration in luxury home sales, with a total of 135 million-dollar homes sold by the end of June. This data signifies an emerging trend that could potentially eclipse last year’s record of 185 total home sales by year-end.

Market Trends

The notable increase in high-value property sales can be attributed to a variety of factors, including the growing demand for residential housing in suburban areas and the attractiveness of commercial investments within the region. Fort Mill, in particular, has become a focal point for both families seeking upscale homes and businesses looking to expand or relocate.

Conclusion

As York County continues to attract significant property investments, the implications for local economic growth and community development are substantial. The trend observed in June not only underscores the resilience of the real estate market but also hints at a continued foray into high-value developments in the coming months.