If you're thinking about buying, selling, or investing in the Greenville's real estate market, you’re probably wondering what the latest market trends mean for you. Market statistics are more than just numbers—they're the key to understanding the current landscape and making smart decisions. In this blog, I break down the latest data to help you navigate the local market with confidence.
The Breakdown:
Days on Market
September 2024: 49 days (up from 40 days in September 2023 and 45 days in August 2024)
Percentage of List Price Received
September 2024: 98.3% (a slight drop from 98.7% in 2023 and 98.4% in August 2024)
Average Sales Price
September 2024: $379,048 (down 1.6% from $385,290 in 2023 and a bit lower than $383,595 in August 2024)
Months Supply of Inventory
September 2024: 3.9 months (up significantly from 2.8 months in 2023 and a slight increase from 3.8 months in August 2024)
Closed Sales
September 2024: 1,297 (down 2.4% from 1,329 in September 2023 and down from 1,543 in August 2024)
What Do These Numbers Mean?
For Buyers:
With inventory levels rising (3.9 months supply in September, up slightly from 3.8 months in August), buyers are gaining more options. However, homes are sitting on the market longer—up to 49 days in September compared to 45 in August—which means there’s room for negotiation. Still, prices remain fairly steady, only dipping slightly from August to September.
Pro Tip for Buyers: Now is a good time to explore your options, as the slight increase in inventory gives you a wider selection of homes. With homes staying on the market longer, you may have a better chance to negotiate or find a deal. However, it’s still important to be prepared to act quickly, as well-priced homes continue to attract interest.
For Sellers:
While the average sales price has decreased slightly since August ($379,048 in September vs. $383,595 in August), sellers are still receiving over 98% of their asking price. However, homes are staying on the market longer, and the increased inventory means buyers have more choices. This means sellers may need to be patient and competitive with their pricing to stand out.
Pro Tip for Sellers: If your home has been on the market for a while, consider revisiting your pricing strategy or making small improvements to increase its appeal. Homes are taking longer to sell, so patience and working with an experienced agent can help ensure you get the best deal without rushing into price cuts too soon.
For Investors:
The September numbers show slightly lower closed sales than August, while inventory is slowly creeping up, which means more opportunities for investors to find the right deal. The steady demand and small fluctuations in pricing indicate a stable environment for long-term investments.
Pro Tip for Investors: With more homes on the market and a slight price dip since August, now could be a good time to identify properties with long-term value. Keep a close watch on days on market and motivated sellers who might be open to negotiating a better deal.
The Greenville real estate market has seen some shifts over the past few months, with increased inventory, steady demand, and slight fluctuations in pricing. For buyers, there’s a bit more breathing room with more options available. Sellers need to stay patient and competitive, while investors should be on the lookout for deals that offer long-term potential. Staying informed about local market trends is key to making smart real estate decisions.
Whether you're looking to buy, sell, or invest in Greenville, having a clear understanding of the current market is essential. As a local real estate expert, I’m here to help you make informed decisions. Contact me today to discuss your real estate goals and explore available properties!
Check back for more updates on the Greenville market, and again, feel free to reach out with any questions or to start your real estate journey today!
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