Here’s your monthly market update for the Greater Greenville area.
Today we’re here with your monthly market update. We have the latest stats from the Greater Greenville Association of Realtors. They cover from January to September and compare the year-over-year changes. Let’s dive in:
- Our supply is down 25.7%.
- The number of units sold has gone up 9.4%.
- The median price has gone up 12.4%. That takes it from $233,000 to $262,000.
- The average price has gone up 15.8%, which brings it from $275,820 to $319,459.
- The average days on market is down 45.6% from 57 days to 31 days.
“Don’t wait; sell today in a market that we know is good. “
These numbers are still really good, which means the market is still hot, but it is decelerating. For the last couple of months, we’ve been using the analogy of a car flying down the highway. If we compare our market to the car’s speed, it was going 100 miles per hour, and in the last couple of months it has decelerated to 95 or 90 miles per hour. This month, the rate of deceleration is actually slowing too. September saw a slowdown, but the gap August to September was a lot smaller than the gap from July to August.
What does that mean for you? We’re still seeing multiple offers on houses, so it’s still a fantastic time to sell. Interest rates are great, so it’s also a good time to buy a home. What we don’t want to do is wait. Let’s go ahead and sell in the market that we know right now. We have been decelerating, and the holidays are coming up, so we’re not entirely sure where the market will go.
If you’re looking to sell, give us a call. We’ll help you get your house sold and buy a new home.