The latest Greenville housing market data and its domino effect.
Let’s look at the monthly market report from the Greater Greenville Association of Realtors. You can also see all the data on the markerboard in the video above. In summary, supply is up 33.1% year over year, the number of sold units is down 0.8%, the median price is up 17.9%, the average price is up 13.7%, and the average number of days on the market is down 22.6%.
What do all of those numbers mean? The two stats that we want to focus more on are the amount of supply and the number of homes sold, as they will start to affect our median and average price. Also, the increase in supply means that buyers have many more options than they did. Lastly, rising interest rates are starting to affect purchasing power, which will affect the price that sellers can get for their homes. It all has a domino effect.
Everyone’s situation is specific and the market is tricky right now, so reach out and we can help you figure out the best option for you and your family. Call or email us anytime—we would love to help you.