What Does Our Real Estate Market Look Like Right Now?

    I’ve been noticing a few trends in the Greenville market as of late that I’d like to share with you today. Here are some of the numbers I’ve been keeping an eye on.

    It’s May 2019 and it’s time for another market update for the Greenville area.

    The first thing we always look at when determining where the market’s at is active listings. Last year at this time, there were 4,804 homes for sale on the MLS. As of May 10 of this year, we have 4,935 homes on the market. That signifies a 2.7% increase in inventory over the past year.

    Next, we look at sold homes. From January 1 to April 30 of 2018, there were 3,929 sold homes in Greenville. From January 1 to April 30 of this year, we saw 4,016 sold homes. That’s a 2.2% increase in demand for homes. Supply and demand are essentially moving together at this point.

    Another interesting stat is that there were 1,110 home sales in April 2018 and 1,244 home sales in April 2019. That’s an increase of 12.1%, and it’s something to keep an eye on right now. If we see this trend continue over the next few months, it can definitely have an impact on home values.

    Finally, let’s look at how our days on market have changed. Last year, the average was 59 and now it’s up to 62. We haven’t really seen this number increase over the last few years, so this further signifies a flattening of the market. In a flattening market, homes are still appreciating, just not as much as they had been. It’s still a tremendous time to buy or sell a house in the area from where I’m looking.

    If you plan on buying or selling a home anytime in the near future, make sure that you do your due diligence when hiring an agent. If you have any questions for us about what we can do for you in this market, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.

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