Columbia’s Real Estate Market Surges with $9.25 Million Sale

News Summary

A luxurious estate in Lexington has sold for $9.25 million, setting a new record in Columbia’s real estate market. The 9,500-square-foot home boasts extensive amenities on Lake Murray and signifies increasing demand for high-end properties. With a population growth rate of 30% faster than the national average, Columbia’s housing market continues to thrive, showing promising trends that extend beyond luxury sales.

Columbia’s Real Estate Market Takes a Big Leap with Stunning $9.25 Million Sale

Columbia is buzzing with excitement after a luxurious estate at 218 Captain’s Watch Road in Lexington made waves in the real estate scene, selling for a jaw-dropping $9.25 million. This hefty price tag not only reflects the growing interest in high-end properties but has also officially set a record for the biggest residential sale in the area. The estate sprawls over three acres of beautiful land right on Lake Murray, a popular spot for both relaxation and recreation.

What Does the Estate Offer?

Now, let’s talk about what makes this property so special. This isn’t just any house; it’s a remarkable 9,500-square-foot home that comes fully furnished. What’s included, you ask? Well, there’s a fantastic pool, a private dock perfect for boating adventures, a spacious 3½-car garage, a cozy guest cottage for friends and family, and even a greenhouse for the gardening enthusiasts. It’s safe to say this estate has it all!

After five long years of construction, the sellers, who are prominent members of the local business community, finally brought their vision to life. Their ties to Lexington and the wider South Carolina area are strong, making this sale even more remarkable. Not to be overlooked, the buyers also have deep roots in the local business scene, showing just how intertwined the community is.

Breaking Previous Records

The previous high-water mark for sales in Lexington was significantly lower at $3.6 million, also handled by the same realty team. This recent sale has more than doubled that, confirming the upward trend in luxury property demand.

Columbia’s Housing Market on the Rise

28 new residents moving to the Columbia area daily. The demand for this type of housing is at an all-time high, and in the last quarter of 2024, net absorption in this market hit a three-year high.

With Columbia’s population growth rate sitting at about 30% faster than the national average, it’s clear that more people are seeing the appeal of calling this city home. Currently, the development pipeline includes 1,579 new housing units that are in progress, boasting an impressive 90.6% occupancy rate as of late last year. Highlighted projects include the 228-unit Landings at Hard Scrabble, set to open in Q2 2025, and the 308-unit Burnside Farms, expected in Q4 2025.

Other Noteworthy Transactions

94-acre property near Irmo, which features an interesting historical house built in 1888, is also making headlines with its sale price of $2.35 million. The estate is equipped with a stunning 10-acre pond, ideal for equestrian farming or simply as a serene private retreat.

$2 million investment was made in a 5,200-square-foot medical office building in Myrtle Beach, showcasing the diverse interest in property types within the region. Additionally, a new dining hot spot, the Champagne Lounge and Restaurant, has signed a lease for 4,767 square feet in Columbia’s Vista district, adding to the vibrant atmosphere. This building has quite the history, originally built as the Seaboard Railroad Station back in 1903!

Looking Ahead

47 days, with a median sale price of $271,000, which has seen a notable 10.6% increase year-over-year. The demand is being driven by a robust job market, a growing population, and affordability compared to larger metropolitan areas. Experts forecast a steady growth in home values of about 2.5% from January 2025 to January 2026.

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Additional Resources

• Columbia Business Report
• Wikipedia: Columbia, South Carolina
• Post and Courier
• Google Search: Columbia real estate market
• New York Times
• Google Scholar: real estate development Columbia
• Augusta Chronicle
• Encyclopedia Britannica: Columbia real estate
• Columbia Business Times
• Google News: Columbia real estate news

Author: HERE Lexington