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An Important Update on Our Housing Market

Here’s what you need to know about the latest numbers from our market.

Today we’re bringing you another market update; however, this one is a little special. Since it’s the beginning of the new year, the statistics we share will show us how 2022’s market was different from 2021’s. This should give us a good picture of where things are heading as we make our plans for 2023. 

First, the biggest change was in supply. Supply increased 51% year over year, from 2,226 homes to 3,362. Meanwhile, demand decreased slightly by 6.6%. Throughout 2022, 16,057 homes were sold in Greenville, while in 2021, that number was 17,201.

“You can still sell quickly in our market.”

This may sound like bad news, but the median price was actually up by 14.5%. In January 2022, the median price was $268,895, while it was $308,000 in 2023. Similarly, the average price is also up by 12.4%. 

Finally, let’s talk about the average days a home spends on the market. In 2021, that number was 29, while in 2022, it was 27. However, if we look at the month-over-month numbers, we can see that the average days on market was actually 44 in December 2022. Houses are taking a little longer to sell, but they’re flying off the shelves relatively quickly. 

If you price your home right and work with an expert, you can still sell quickly in our market. Call or email us with any questions. We look forward to hearing from you!

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Our agents write often to give you the latest insights on owning a home or property in the local area.