How much is your home worth? New Rock Hill region info shows a growing trend
Homes across the Rock Hill region are about twice as likely to be worth $1 million or more than they were a decade ago. Soon, there could be more homes that are worth $500,000 or more than there are ones worth $200,000 or less.
Those figures come from new U.S. Census Bureau data detailing community change. Average values for owner-occupied homes (non-rentals or secondary homes) from 2019 to 2023 were compared to the same numbers from 2014 to 2018.
The numbers aren’t tied to home sales, so they reflect entire communities and not just what’s selling at a given time. Figures show there are more homes than ever across the three-county region, and they’re worth more than ever before.
York County
The total of 81,169 owner-occupied homes in York County are up nearly 17%, or 11,750 homes, from 2014 to 2018. So while the 20.6% of homes valued at $500,000 or more is about double the 10.4% figure from 2014 to 2018, the total number of high-end homes is even greater.
York County had about 9,500 more homes valued in the $500,000 or more range in 2019-23 compared to 2014-18.
There are now more than 1,500 homes valued at $1 million or more. Million-dollar homes are 1.9% of the county total, compared to 1.2% in 2014-18.
More than half of York County’s homes, at 55.2%, are valued in the $200,000 to $500,000 range. That number is up from 45.3% in 2014-18.
There are still slightly more York County homes valued below $200,000 (24.1%) than at $500,000 or more (20.6%). But the gap is dwindling.
In 2014-18, 44.2% of homes were valued below $200,000. That was more than four times the 10.4% of homes at $500,000 or more.
The median York County home value of $226,400 in 2014-18 jumped to $322,700 in 2019-23.
Lancaster County
Lancaster County has a similar trajectory.
The $298,100 median home value is up from $222,100 in 2014-18. The 25,516 owner-occupied homes is nearly 7,000 more, a 37.4% increase, compared to 2014-18.
Million-dollar homes nearly doubled from 0.7% to 1.3% of the county total from 2014-18 to 2019-23. Homes at $500,000 or more in value more than doubled, from 8.5% to 18% of total homes.
Countywide, 48.1% of homes are valued in the $200,000 to $500,000 range. That’s up slightly from 44.7% in 2014-18. The big drop came in homes valued below $200,000. They’re 33.9% of the county total, down from 46.9% in 2014-18.
Chester County
Even Chester County, which hasn’t had the historic spikes in home sales common to Fort Mill, Indian Land, Lake Wylie and other spots near the North Carolina border, follows the same trend.
Only 0.1% of Chester County homes were worth $1 million or more in 2014-18. That number grew to 0.9%. Half-million-dollar or more homes are up from 1.4% of the county total in 2014-18 to 3.3% in 2019-23.
Changes in Chester County come despite a relatively flat number of homes. The 10,068 homes is only 629 more than in 2014-18.
Yet the 28.4% of homes valued in the $200,000 to $500,000 range are up 7.1%, and the 68.1% of homes below $200,000 is down 9.2% compared to 2014-18.
The median home value of $143,800 is up from $110,200 in 2014-18.
Million-dollar home sales
Home value increases likely aren’t a surprise for people who remember the wave of home sales and low interest rates during the COVID pandemic. New construction also tends to cost more, so the influx of new homes also impacts values across communities.
The real estate market continues to show more homes selling for higher amounts than ever in this area. Through November, nearly 170 homes in York, Lancaster or Chester counties sold this year for $1 million or more. Three homes sold for $3 million or more, as part of 15 homes that sold for $2 million or more.
Last year, count land records show there were 135 sales at $1 million or more.
Canopy Realtor Association lists 77 homes in the Rock Hill region for sale at $1 million or more. Five homes are listed at $2 million or more, topped by a $3.6 million property on JW Wilson Road in Fort Mill.
Most homes, 47 of them, are listed in the $1.2 million to $1.6 million range. The most million-dollar listings come from Fort Mill (21), Lake Wylie (14), Rock Hill (12), Lancaster (10) and York (8).
