Cobblestone Townhomes: Century Communities Captures Greenville's Affordable Housing Boom

Greenville, South Carolina, has emerged as a magnet for professionals and families seeking a blend of economic opportunity and quality of life. With its booming job market, diverse industry base, and affordable housing shortages, the region presents a compelling opportunity for real estate investors. Enter Century Communities' Cobblestone Townhomes, a strategic project designed to meet the demand for entry-level housing while leveraging cutting-edge online sales tools. Here's why this development is a winning investment play.

Affordable Housing Demand: A Tight Market with Room to Grow

Greenville's median home price surged to $365,964 in June 2025, up 10.2% year-over-year, but affordable options (under $300,000) remain scarce. First-time buyers face stiff competition, with homes selling in just 18 days on average—a stark contrast to the national average.

Cobblestone's pricing starts in the low $230s, undercutting the median price by over $100,000. This strategic entry point targets first-time buyers and renters priced out of single-family homes. The townhomes' 1,648 sq. ft. layouts—featuring three bedrooms, three bathrooms, and modern amenities like luxury vinyl plank flooring—deliver value without compromising livability.

A key metric: 56.1% of homes in Greenville sold below asking price in Q2 2025, signaling buyer leverage. Cobblestone's pricing and efficiency-driven sales process could help it capture this demand before competition intensifies.

Geographic Positioning: Where Growth Meets Opportunity

Cobblestone's location is its secret weapon. The development is situated near downtown Greenville, within commuting distance of major employers like Prisma Health, BMW, and Michelin, and close to East Carolina University. This proximity to jobs, education, and amenities ensures steady demand.

The area's population growth is fueled by in-migration from high-cost cities like Atlanta and Charlotte, as well as a robust local economy. The National Association of Realtors has ranked Greenville among its top 2025 housing hot spots, citing its 5% projected annual growth rate.

Online Sales Efficiency: A Game-Changer for Scalability

Century Communities' Century Complete platform is a standout feature. Buyers can browse, select, and purchase homes entirely online, with 24/7 access to inventory and instant contract signing via DocuSign. This reduces friction for time-strapped buyers and opens the market to those outside the region.

The integration with Inspire Home Loans—an affiliate lender—enables one-stop financing, while the Knightdale Sales Studio offers in-person support. This hybrid model balances convenience with personalized service.

Why this matters for investors?
- Faster Turnaround: Homes sell in days, not weeks, boosting cash flow.
- Lower Costs: Reduced reliance on traditional real estate agents cuts overhead.
- Scalability: The online system can easily expand to other markets, driving revenue growth.

Investment Thesis: A Triple-Threat Opportunity

1. Demand-Supply Imbalance: Limited affordable housing inventory and rising population growth ensure steady buyer interest.
2. Strategic Location: Proximity to employers and universities locks in long-term demand.
3. Operational Efficiency: The online platform lowers costs and accelerates sales cycles.

Risks to Monitor:
- Rising interest rates could strain affordability, though Century's 180-day rate lock mitigates this.
- Inventory competition: Greenville's total listings rose 18.4% in 2025, but Cobblestone's pricing and features should remain competitive.

Conclusion: A Solid Bet on Growth

Cobblestone Townhomes checks all the boxes for a winning real estate investment: it targets a underserved market with affordable pricing, leverages prime location near jobs and amenities, and employs innovative online tools to outpace competitors. For investors, Century Communities (CCUR) stands to benefit from Greenville's expansion and its own operational excellence.

Actionable Advice:
- Buy CCUR if you believe in Greenville's growth trajectory and the scalability of digital homebuying.
- Monitor inventory levels and sales velocity at Cobblestone as key performance indicators.
- Consider pairing with a long position in real estate ETFs (e.g., XLK) for sector diversification.

In a market transitioning toward buyer-friendly conditions, Century's strategic moves position it to thrive—and investors who act now may reap the rewards.

Data as of June 2025. Past performance does not guarantee future results.