Home sales across South Carolina continue to decrease as interest rates and costs continue to rise. In August, 8,280 homes were bought and sold at a median price of $332,500 which is 4.2% higher than the median one year prior. The late summer price increases, however, are dwarfed by the double-digit increases seen during the COVID-19 pandemic.
A home in South Carolina now costs about 42% more than it did in March of 2020 when the pandemic first hit the U.S., and more than double the price from a decade ago. The Hilton Head and Beaufort regions have experienced the largest increases in price year to date with home prices in Hilton Head up 13.3 percent to $510,000 and homes in Beaufort up 8.1 percent to $400,000. Only the Rock Hill and Orangeburg markets experienced declines in median home prices.
Year-to-date home sales in South Carolina have declined by 16.9 percent from 2022 levels. The main factor behind this decline have been rising interest rates, which Freddie Mac reported this week have reached the highest levels in 23 years with the average 30-year fixed mortgage rate sitting at 7.49 percent. A recent July report from the Atlanta Fed highlights that the median American household needed 44 percent of its income to cover annual payments on a median-priced home.
Does this mean you should not be looking to buy a home. No not necessarily. There are options out there that local real estate agents can share that make buying and selling today an opportunity. Check with the local read estate broker for how home buying and selling can work to your advantage in today’s market place.
Journey Soap Company Hosts Ribbon Cutting
/in Frontpage Article, Images, News, Ribbon Cuttings /by Mandy HowleKendra Wheeler the Owner of Journey Soap Bar along with friends and ambassadors cuts her ribbon joining the Greater Florence Chamber of Commerce.
Kendra began her Journey of Self- Care and Natural Products when she found she was allergic to store products such as soap, lotion, and deodorants. She began to study, research, and take classes on various products, that is when she created Journey Soap Bar.
Her goat milk soap specializes in helping people with problematic skin and has become her number one seller. She also creates whipped Body Butter Scented and Unscented, Sugar Scrubs, Moisturizing Rub for Men, and Soy Candles.
To read the full story, click here.
Florence Salon Suites Cuts Chamber Ribbon
/in Frontpage Article, Images, News, Ribbon Cuttings /by Mandy HowleRebecca Andrews along with family, friends and staff during ribbon cutting ceremony joining the Greater Florence Chamber of Commerce on Tuesday, October 10th. Florence Salon Suites announce the grand opening of their brand-new suite-based salon in the heart of Florence.
With a commitment to providing top-notch beauty and wellness services, Florence Salon Suites is set to revolutionize the salon experience in the local community. What sets Florence Salon Suites apart is their unique suite-based concept. Each of their talented beauty professionals operates their own individual suite within the salon. This allows them to offer personalized services in a private, one-on-one setting, ensuring that every client receives the attention and care they deserve.
To read the full story, click here.
Additional Development Worth Nearly $170M Set to Transform Downtown Florence
/in Frontpage Article, Images, News /by Mandy HowleDiscover how Downtown Florence is set to become a hotspot for investment with nearly $170M of additional development on the horizon. Learn about the projects that are transforming the cityscape and driving economic growth in this insightful video.
Leadership Florence Class of 2024 Participate In Visual Arts and Media Session
/in Frontpage Article, Images, News /by Mandy HowleThe Chamber’s Leadership Florence Class of 2024 continued their journey with Visual Arts and Media day. The day gave a comprehensive inside look at a number of organizations, including the Florence Museum, Adams Outdoor, FMU Performing Arts Center and Florence Little Theatre.
Thank you to all the host organizations that made our day possible. A special thank you also goes out to Adams Outdoor and Post and Courier Pee Dee for sponsoring breakfast and lunch.
To see photos from the day, click here.
S.C. Home Prices Continue to Rise While Sales Slip
/in Frontpage Article, Images, News /by Mandy HowleHome sales across South Carolina continue to decrease as interest rates and costs continue to rise. In August, 8,280 homes were bought and sold at a median price of $332,500 which is 4.2% higher than the median one year prior. The late summer price increases, however, are dwarfed by the double-digit increases seen during the COVID-19 pandemic.
A home in South Carolina now costs about 42% more than it did in March of 2020 when the pandemic first hit the U.S., and more than double the price from a decade ago. The Hilton Head and Beaufort regions have experienced the largest increases in price year to date with home prices in Hilton Head up 13.3 percent to $510,000 and homes in Beaufort up 8.1 percent to $400,000. Only the Rock Hill and Orangeburg markets experienced declines in median home prices.
Year-to-date home sales in South Carolina have declined by 16.9 percent from 2022 levels. The main factor behind this decline have been rising interest rates, which Freddie Mac reported this week have reached the highest levels in 23 years with the average 30-year fixed mortgage rate sitting at 7.49 percent. A recent July report from the Atlanta Fed highlights that the median American household needed 44 percent of its income to cover annual payments on a median-priced home.
Does this mean you should not be looking to buy a home. No not necessarily. There are options out there that local real estate agents can share that make buying and selling today an opportunity. Check with the local read estate broker for how home buying and selling can work to your advantage in today’s market place.
McLeod Health Partners with WGU For Staff Educational Opportunities
/in Frontpage Article, Images, News /by Mandy HowleMcLeod Health has signed a collaboration agreement with online nonprofit Western Governors University (WGU) that will provide personalized pathways to higher education through affordable bachelor’s and master’s degrees. As part of the agreement, McLeod Health employees will be eligible to apply for up to $2,500 in scholarships through the WGU Healthcare Partners Fund, disbursed in increments of $625 per six-month term for up to four terms.
WGU is accredited through the Northwest Commission on Colleges and Universities (NWCCU). Tuition is around $4,000 per term for most undergraduate degree programs, and students can take as many classes within a term as they wish with the consent of their assigned program mentor. WGU offers degrees in healthcare, IT, business, and K-12 education. WGU currently has more than 2,500 students and 6,500 graduates throughout South Carolina.
To read the full press release, click here.
Limited Seating Left For Pee Dee Economic Impact Luncheon
/in Frontpage Article, Images, News /by Mandy HowleAre you or your company registered to attend the South Carolina Ports’ Pee Dee Economic Impact Announcement & Luncheon on Monday, October 23, 2023? Only a few seats left. You have until tomorrow to register.
The South Carolina Ports extends its reach beyond the Port of Charleston to make a significant economic impact throughout South Carolina and in the Pee Dee. We hope you be able to attend this important South Carolina Ports Luncheon where Barbara Melvin, President and CEO of South Carolina Ports, and Dr. Joseph Von Nessen, Research Economist for USC Darla Moore School of Business will be speaking.
The special luncheon is being held at Florence Center, 3300 W. Radio Dr. in Florence. Doors are opening at 12 noon for registration and networking and the program begins at 12:30pm. Advance registration is required.
To register, click here.
Florence Chamber Fall Golf Tournament Draws A Crowd
/in Frontpage Article, Images, News /by Mandy HowleThe Greater Florence Chamber held its annual Fall Golf Classic at Traces Golf Club, on Thursday, October 5th presented by Field Fastner.
Other sponsor support was provided by Pepsi of Florence, Pee Dee Food Service & Catering and TD Bank. First Bank took team photos throughout the day.
One hundred twenty-four golfers enjoyed the day starting with a clubhouse lunch at 11 a.m. After the noon shotgun start the golfers enjoyed 16 different hospitality tee box sponsors throughout the golf course offering wings, brats, and more brats, fried bologna sandwiches, various snacks, Pepsi beverages, beer, specialty drinks, prizes and other golf giveaways.
To see more photos from the day, click here.
MUSC Rehabilitation Center Featured On ChamberLink Radio
/in Frontpage Article, Images, News /by Mandy HowleRoxie Smallwood Florence Division Director, Erin Ward Speech-language pathologist and Alfred Jarman physical therapist at MUSC Rehabilitation Center, was on ChamberLink Radio this weekend to talk about their ability to help people pursue their goals throughout life with the full range of financial services that can help folks be prepared for significant life events.
You can catch the conversations on ChamberLink Radio each Sunday from 12:00-12:30pm on LIVE 95.3FM in Florence, SC.
ChamberLink Radio is brought to you by the Greater Florence Chamber of Commerce and The UPS Stores.
Innovate Florence
/in Frontpage Article, Images, News /by Mandy HowleJoin the Greater Florence Chamber and the the City of Florence for a free breakfast, networking and business growth as part of a new partnership called Innovate Florence.
The event will take place on October 26th at 8:30 am at the City Center, located at 324 West Evans Street.
Innovate Florence is an exciting partnership where several local entrepreneurs will have the opportunity to speak about their business and challenges they face, and the community gives them feedback and support.
The goal is to break down barriers and form meaningful connections.
To register online, click here.