Welcome to my latest update on the Greenville, South Carolina real estate market! Whether you’re a seasoned homeowner, a first-time buyer, or an investor on the lookout for opportunities, staying informed about market trends is key to making the best decisions. I'm diving into the latest statistics and what they mean for you. *Spoiler alert: Greenville is still on the rise, but with a few interesting twists!
Breaking Down the Numbers:
Let’s take a closer look at some key market stats from July 2023 compared to July 2024, with a quick check on June 2024 for context:
Average Days on Market: Homes are taking just a bit longer to sell, with the average days on market increasing from 38 days in July 2023 to 40 days in July 2024. It’s a slight uptick of 5.3%, but overall, homes are still moving relatively quickly.
Percentage of List Price Received: Sellers are seeing a small dip in the percentage of the list price received, from 98.8% in July 2023 to 98.5% in July 2024. While this 0.3% decrease might seem minor, it signals a slight shift towards a more balanced market where buyers may have a little more negotiating power.
Average Sales Price: The average sales price in Greenville continues to climb, rising by 4.1% from $382,628 in July 2023 to $398,409 in July 2024, with a peak of $402,501 in June 2024. This steady increase reflects the ongoing demand for homes in the area, making it a promising market for sellers.
Months Supply of Inventory: One of the most striking changes is in the months supply of inventory, which jumped from 2.5 months in July 2023 to 3.8 months in July 2024—a significant 52% increase. This suggests more homes are available on the market, providing buyers with more options and possibly easing the competition slightly.
Closed Sales: The number of closed sales surged by 18.3%, from 1,321 in July 2023 to 1,563 in July 2024. With 1,552 sales in June 2024, this trend underscores the robust activity in Greenville’s real estate market.
What Does This Mean for YOU?
Buyers: The increase in inventory means more choices, and the slight rise in days on market could give you a bit more breathing room to make decisions. However, with prices still on the rise, acting sooner rather than later could save you money in the long run.
Sellers: Focus on curb appeal and small updates to make your home stand out, and price competitively to attract offers quickly
Investors: Research neighborhoods that are up-and-coming but still offer good value, and consider diversifying your portfolio with different types of properties
Greenville’s real estate market continues to offer exciting opportunities, but as always, being informed is your best strategy. Whether you’re looking to buy, sell, or invest, understanding the current trends will help you make the best decisions for your future. Stay tuned to our blog for more updates and insights, and don’t hesitate to reach out with any questions. The Greenville market is thriving—let’s make sure you thrive with it!
Ready to make your move in Greenville’s dynamic real estate market? Whether you’re buying, selling, or investing, I’m here to help you navigate every step of the way. Contact me today for personalized advice or to explore the latest listings. Let’s turn your real estate goals into reality!
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