Have you been thinking about moving to or from Greenville recently? You've come to the right place! We're unraveling the latest market stats that are shaping the housing trend in our vibrant city. Whether you're a prospective buyer, a savvy seller, or an investor seeking the next big thing, understanding these numbers is your compass to success.
Breaking Down the Market Statistics
Let's take a deep dive into the numbers that tell the story of Greenville's real estate market for October 2023:
Days on Market (DOM): The clock is ticking a little bit louder, with homes spending a more "normal" amount of time on the market at 41 days in October 2023, compared to the 32 days in October of 2022. At a 28.1%, this gives buyers a smidge more time to deliberate in their decision-making process.
Percentage of List Price Received: Sellers, this one may be hard to swallow but I promise it's not as bad as it sounds. List price received percentage for October 2023 is down 0.4% (2022 average was 98.7%, 2023 is 98.3%). While this is only a small change, it's a cue to be strategic in your pricing.
Average Sales Price: The stars have aligned for sellers though, as sales prices jump up 6% this October to $381,652 compared to $360,181 in 2022. Greenville's real estate stage is set for major value appreciation!
Months Supply of Inventory: Inventory levels are on the rise, going from 2.6 months in 2022 to 3.3 months in 2023-a 26.9% increase. Buyer's this is in your favor-granted we are still in a seller's market (6>=Seller's Market, 6<=Buyer's Market), but this means you have more choices in our expanding market.
What Do These Numbers Mean for You?
Let's break down these numbers and turn them into some useful tips you can actually use!
BUYERS: With a tad more time and increasing inventory, the Greenville market is offering a more leisurely shopping experience compared to last year. Explore your options, negotiate wisely, and find the perfect home with a little less rush.
SELLERS: The rise in average sales prices is a green light for you. However, be mindful of your pricing strategy to ensure a swift and profitable sale.
INVESTORS: Greenville is buzzing with potential. Keep an eye on emerging trends and consider properties that line up with our beautiful city's growth.
Best Tips for Navigating the Market
Here's the juicy tips to help you navigate this market the best.
Engage with a Local Expert: A knowledgeable real estate professional can guide you through the market nuances. Be sure to find someone who is on top of the trends that can best help walk you through the process. (*wink wink*)
Stay Informed: Markets are ever changing. You should be able to not only rely on your REALTOR®, but also stay updated on local trends and news to make informed decisions as well.
Timing is EVERYTHING: Whether buying or selling, timing can make a significant difference. Make sure you are including timing in your plans to be strategic in your approach.
Let's Make A Move!
Ready to explore Greenville's real estate terrain? Whether buying, selling, or investing, I'm here for YOU. Contact me today for personalized advice, property insights, listing information, or if you are just starting your journey in Greenville and don't know where to start.
As we witness the rise and fall of market numbers in Greenville, one thing remains certain-there are so many opportunities here. Buyers, sellers, and investors, it's time to seize the moment! Stay informed, stay strategic, and let the thriving spirit of Greenville guide you to your goal. The adventure is yours to take, and with the right knowledge, I promise it will be both rewarding and exhilarating.
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