What’s going on with our Greenville area market? Let’s find out.
The latest numbers from our Greenville area market are in, so let’s take a look at a few key developments.
One of the main indicators of how our market is doing is inventory, which rose this May by 6.2% year over year. As of the end of May, we had 5,019 properties available in our market.
The number of homes sold has also risen, going up 2.8% to 5,451 this May. This increase, though not as high as the increase in inventory, will definitely lead to higher competition in certain price points.
“While homes may be selling more slowly, they are still definitely selling.”
These developments have also put pressure on appreciation rates, which, at 3.2%, are not quite as high as they were earlier this year. However, it’s important to realize that a drop in appreciation rates does not mean homes have stopped gaining value. It simply means they aren’t gaining value as quickly. In other words, it’s still a fantastic time to sell.
It’s also important to note that the average number of days listings are spending on the market has slightly increased, going up to 59 days. But, again, while homes may be selling more slowly, they are still definitely selling.
If you have any other questions, would like more information, or are curious how our team can help you achieve your real estate goals this year, feel free to give us a call or send us an email. We look forward to hearing from you soon.