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Spring Market Update for Greenville Real Estate

Here’s what buyers and sellers need to know about the Greenville market.

Some interesting things are happening in our current real estate marketplace that you as consumers need to know about. We have the latest news and numbers to share with you in today’s update.

Supply is still the big story. As of March 10, we’re down 31.7% year over year. We just don’t have a lot of inventory in Greenville. There are still plenty of houses selling; they’re just being sold very quickly because demand is so robust.

Sold homes are up 6.2% year over year from 2,045 to 3,172. It’s not quite as big of a jump as we saw last year of 25.3% from 2020 to 2021, but still a healthy increase. Demand is up, just not as much as it was last year.

Our median price is up a whopping 20% year over year from $241,277 to $289,600. For reference, when I started in the business in 2009, the median price was around $140,000. Meanwhile, the average price is up 13% year over year to $334,884, and the average days on market is down 29.5% year over year.

“Interest rates are still pretty low, but they’re higher than they were last year.”

Indications point to us having a seller’s market for quite some time. For a while, four factors have been driving demand in South Carolina: population growth, low unemployment, federal stimulus money, and rock-bottom interest rates. 

Indications point to us having a seller’s market for quite some time. For a while, four factors have been driving demand in our area. As long as we have this low supply, we should still continue to see homes appreciate regardless of what interest rates do.

If you have any questions about the Greenville market or real estate in general, don’t hesitate to reach out via phone or email. We look forward to hearing from you soon.

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