One of the nation's largest homebuilders is planning two developments this fall for first-time homebuyers in the fast-growing Spartanburg, South Carolina area.
Century Communities said it expects to open Frey Creek late this month, followed by Riverdale Hills in November. Prospective buyers can join interest lists for the developments, with prices starting in the mid-$200,000s.
Plans call for Frey to contain more than 140 homes featuring four and five bedrooms and up to 2,653 square feet. Century did not disclose the number of homes it plans at Riverdale Hills, but the homebuilder said they will have three and four bedrooms and be up to about 2,000 square feet in size.
The company also said that it will open a new phase at another Spartanburg development, Moss Creek, by the end of the year. Prices there start in the low-$200,000s.
In the Spartanburg metropolitan area, the August median sale price for all property types was $292,950, essentially unchanged from a year ago, according to Homes.com data.
As of July 2024, the Spartanburg region's population totaled nearly 396,000 residents, according to the most recent U.S. Census figures. Its growth rate of 2.7% from 2023 was the 10th highest in the nation, Census data shows. Ocala, Florida, was first at 4%, while the Myrtle Beach, South Carolina area was second at 3.8%.
Spartanburg's job growth has been robust recently, and there is optimism over the long-term potential of BMW's global production facility in nearby Greer, South Carolina, noted Chuck McShane, senior director of market analytics for Homes.com.
"The entire Upstate area, as Greenville-Spartanburg is known, has also benefited from the general trend of migration to the Sun Belt and offers comparative affordability to larger markets within the region, such as Charlotte or Atlanta," McShane said earlier this year.
Century, based in Greenwood Village, Colorado, sold 11,007 homes last year, ranking as the 10th-largest U.S. homebuilder, according to Builder Magazine.