As we enter August, let’s look back at July and review some of the most critical market statistics that impacted the greater Greenville real estate market this past month.
Great news for buyers—supply is up by 9.3% for the first time in the last 18 months. The number of sold homes, median price and average price have also increased by 0.4%, 18%, and 14.3% respectively, while the average days on market decreased by 27.7%.
What does this all mean? We are now beginning to see the initial stages of a normalizing market, and with more homes listed, the average and, median prices will likely start to decrease. If you’re a seller, you will probably have a smaller buyer pool due to rising interest rates. The red-hot market we’ve had in the past several months is finally starting to cool.
The numbers mentioned here are based on our local market. If you need me to go into more detail about these statistics to help you with your selling plans, feel free to call or email me so we can discuss your options. I look forward to hearing from you!