News Summary
Columbia, South Carolina, has made headlines with the recent sale of a luxurious Lake Murray estate for $9.25 million, setting a new record for residential properties in the area. The 9,500-square-foot estate offers opulent living with high-end finishes, a private dock, and extensive grounds. This significant sale reflects the booming real estate market in Columbia, where demand for luxury housing and multifamily units continues to rise. With occupancy levels at 90.6% and multiple upcoming developments, the area’s real estate scene is expected to thrive.
Columbia, South Carolina: A New Record in Real Estate!
Big news is making waves in Columbia, as the recent sale of a stunning Lake Murray estate has set a new record for residential properties in the area. The opulent estate at 218 Captain’s Watch Road was sold for a jaw-dropping $9.25 million! This eye-catching transaction marks the highest price ever recorded for a single residential property in Columbia, leaving many to wonder what exactly this mega mansion has to offer.
All the Luxurious Details
Spanning over 3 acres of prime Lake Murray real estate, this estate is a true gem for anyone searching for luxury living. The main house is a massive 9,500 square feet, featuring high-end finishes and spacious living areas. And it doesn’t stop there! The property comes fully furnished, giving the lucky new owners a turn-key luxury experience right from the get-go.
But wait, there’s even more! The estate boasts a sparkling pool perfect for those hot summer days, along with a private dock for easy access to all the fun Lake Murray has to offer. For those who need extra space, there’s a cozy guest cottage on the property. Additionally, there’s a 3½-car garage and a charming greenhouse for garden enthusiasts. It’s clear that this estate has something for everyone!
The Real Estate Boom
This astronomical sale comes just after the previous record for a residential property on Lake Murray, which sold for $3.6 million—quite a leap upwards! Robby Wilkins and Anne Wilkins Brooks were instrumental in representing the sellers, who elegantly developed the estate over a period of five years.
While luxury estates are making headlines, the Columbia area is thriving in the real estate sector overall. The local multifamily market is outpacing other regions in the Southeast, driven mainly by an ever-growing demand for workforce housing. On average, about 28 new residents move into the greater Columbia area every day, causing the region’s growth rate to rocket at approximately 30% faster than the national average.
Occupancy and Upcoming Developments
Currently, multifamily occupancy in Columbia is hovering around 90.6%, which is impressive by any standard. Exciting new developments are on the horizon, including:
- 228-unit Landings at Hard Scrabble, expected to deliver in Q2 2025.
- 308-unit Burnside Farms, projected for Q4 2025.
- 361-unit ONE at Columbia, also set for Q4 2025.
If you’re looking for something with historical charm, don’t miss out on a 94-acre property near Irmo featuring a stunning historic home from 1888—listed at $2.35 million. Complete with open meadows, a 10-acre pond, and potential for equestrian use or a private retreat, this property has immense potential.
More Exciting Changes on the Way
Another significant update for residents is the ongoing property reassessment process in Lexington County, which happens every five years. Notices about property changes will be sent out by the Columbia County assessor’s office in spring 2025. Residents can appeal assessments within 90 days of receiving their notices, ensuring everyone has a chance to voice concerns.
The last reassessment took place in 2020, and the median sale price for homes in Lexington County peaked at around $400,000 in late 2022. Clearly, things are heating up in the region’s real estate market!
With luxury sales soaring and the multifamily sector booming, Columbia is certainly a hot spot for real estate lovers and investors alike. Buckle up; the living in Columbia is looking extra bright!
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Additional Resources
- Post and Courier: Lake Murray Estate Sales Record in Columbia
- Wikipedia: Real Estate
- The State: Homes in Columbia
- Google Search: Columbia real estate
- WLTX: Developers Target New Shopping Plaza in Lexington
- Google Scholar: South Carolina real estate market
- Norada Real Estate: South Carolina Housing Market
- Encyclopedia Britannica: Real Estate
- Lexington Chronicle: Property Tax Exemption in SC
- Google News: South Carolina real estate news
- WBTV: Major Tire Manufacturer Planning Expansion in SC
