Florence, South Carolina, October 3, 2025
News Summary
The housing market in Florence, South Carolina, is shifting towards inaccessibility as home prices surge dramatically, making homeownership increasingly difficult for residents. The average home price reached $440,000, more than double since 2014. Many buyers struggle to find affordable starter homes, which now approach $300,000, posing challenges for first-time homeowners. Despite high demand, the slow sales trend leaves prospective buyers frustrated, particularly during the traditionally busy spring and summer months.
Florence, South Carolina: Housing Market Shift Towards Inaccessibility
The housing market in Florence, South Carolina, is experiencing a significant shift, making homeownership increasingly difficult for many residents. With home prices skyrocketing and affordability declining, buyers are finding it challenging to secure starter homes. In 2022, the average price of a standard home in Florence reached $440,000, over twice the price in 2014, which stood at $159,000 for typical U.S. homes and $101,000 for starter homes.
Rising Home Prices
Since 2014, home values in Florence have surged, with starter homes approaching $300,000. As of last year, many homes available near the $500,000 price point offer extensive features: for instance, 2028 Damon Dr is listed for $499,500 and offers 5 bedrooms and over 4,000 square feet. Similar listings show that properties at this price generally come with multiple bedrooms and bathrooms, emphasizing that the demand remains high even as prices continue to escalate.
Continuing Decline in Affordability
The current dynamics of the housing market indicate that prices are still on the rise while affordability remains a critical issue. Market analysis reveals that potential homeowners are struggling to find homes that meet their needs without exceeding their budgets. The sluggish trend towards home sales has left many prospective buyers feeling discouraged, especially during what historically has been a busy buying season in spring and summer.
Specifics on Available Homes
For those interested in purchasing a home priced around $500,000, several options are currently available in Florence and nearby areas:
- 2028 Damon Dr – $499,500, 5 bedrooms, 5 bathrooms, 4,059 square feet
- 874 Fairway Dr, Hartsville – $459,000, 5 bedrooms, 4.5 bathrooms, 3,162 square feet
- 4531 E National Cemetery Rd – $447,400, 5 bedrooms, 4 bathrooms, 3,338 square feet
- 1140 Grove Blvd – $495,000, 5 bedrooms, 3.5 bathrooms, 4,398 square feet
- 502 E Home Ave, Hartsville – $499,900, 5 bedrooms, 3.5 bathrooms, 4,200 square feet
- 3122 Greystone Dr – $449,000, 5 bedrooms, 3.5 bathrooms, 3,282 square feet
- 1100 Meredith Dr – $479,900, 5 bedrooms, 3.5 bathrooms, 3,073 square feet
- 3301 Trenton St – $484,900, 5 bedrooms, 3.5 bathrooms, 3,065 square feet
Background Context
The real estate market has undergone drastic changes since 2014, as housing prices in Florence reflect a broader trend observed across the United States. The substantial rise in home values and the resulting drop in affordability pose a significant challenge for those looking to purchase their first home. It highlights the challenges faced by middle and lower-income families as the dream of homeownership becomes increasingly elusive. With starter homes diminishing in availability and rising costs, the future of prospective buyers in the florid housing market remains uncertain.
Conclusion
As Florence continues to witness an upward trend in housing prices, potential homeowners will have to navigate a complex and often frustrating market laden with hurdles. The housing landscape serves as a cautionary tale about affordability challenges in contemporary real estate.
FAQs
What is the average price of homes in Florence, SC?
The average price of homes in Florence has increased significantly, with typical homes now selling for about $440,000, reflecting a more than 100% increase since 2014.
What is considered a “starter home” price in Florence?
Starter homes in Florence are approaching prices around $300,000, making it challenging for many first-time buyers to enter the housing market.
Why are homes in Florence, SC, becoming less affordable?
The surge in home prices, outpacing wage growth, has primarily contributed to the decline in home affordability in Florence, making it increasingly difficult for potential buyers to find suitable housing within their budgets.
Key Features of the Housing Market in Florence, SC
| Feature | 2014 Value | 2022 Value |
|---|---|---|
| Average Home Price | $159,000 | $440,000 |
| Average Starter Home Price | $101,000 | $300,000 |
| Difficulty in Finding Starter Homes | Accessible | Difficult |
| Market Dynamics | Active | Sluggish |
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Additional Resources
- AOL: How Much House Does $500,000 Buy?
- Norada Real Estate: South Carolina Housing Market
- Stacker: Cities with Fastest Growing Home Prices in South Carolina
- Redfin: Best Places to Live in South Carolina
- The State: South Carolina Housing Market Report
Author: STAFF HERE FLORENCE WRITER
FLORENCE STAFF WRITER The FLORENCE STAFF WRITER represents the experienced team at HEREFlorence.com, your go-to source for actionable local news and information in Florence, Florence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Florence Festival of Lights, Pee Dee Pride, and agricultural expos at the Florence Center. Our coverage extends to key organizations like the Florence Regional Chamber of Commerce and the Pee Dee Area Council of Governments, plus leading businesses in healthcare and retail that power the local economy such as McLeod Health and Pee Dee Electric Cooperative. As part of the broader HERE network, including HERECharleston.com, HEREColumbia.com, HEREGreenville.com, and HEREHiltonHead.com, we provide comprehensive, credible insights into South Carolina's dynamic landscape.
