Here’s the latest update on the Greenville real estate market. This page is updated every month to keep a running archive of Greenville’s real estate statistics from our local MLS. If you’re moving to Greenville and have questions about Greenville real estate market, don’t hesitate to contact us. We’d love to discuss in detail the activities in our local market. If you’re on the market to sell your home or buy a home, this data will help you gauge if it’s a good time to sell or buy.
The Current State of the Real Estate Market in Greenville
Updated January 15, 2023
December 2022 Greenville Real Estate Statistics
Average Sales Price
*6.4% year-over-year increase
Average Sales Price in December 2021:
Median Sales Price
*2.7% year-over-year increase
Median Sales Price in December 2021:
NOTE: The average sales price is the combined average of all sold properties in greater Greenville for the same time period. The median home price is the most common sales price of all the homes sold in greater Greenville from our last month’s sales in December 2022.
New vs. Sold Listings
940 vs. 1,221
December 2021 New Listings: 1,133
December 2021 Sold Listings: 1,617
There were 940 new listings submitted to our MLS last month. That was a 17.0% decrease from the previous year. There were 1,221 homes sold last month, a 24.5% decrease year-over-year.
Inventory of Homes
*101.0% year-over-year increase
Inventory of Home in December 2021:
There were only 3,862 active real estate listings in Greenville last month. There were 1,862 active listings last year in December. That’s a 107.4% increase in available homes for sale from the same time a year ago.
Days on Market
December 2021: 27 Days
The average days on the market for homes listed in December 2022 was 43 days. That’s 59.3% longer than the same time period last year.
Price Trend in Greenville Real Estate Market
The market trend reflects the home value index for December 2022, going back 10 years.
Historical Inventory of Homes for Sale by Month in Greenville Real Estate Market
Is Greenville in a buyer’s or seller’s market right now?
Greenville is a balanced market in December 2022
Greenville’s real estate market was in a state of balance in December. Existing home sales declined for the fourth consecutive month. Sales were down 24.5% compared to the same period in the previous year. High inflation and rising interest rates have had a negative impact on purchasing power, contributing to the cooling of the previously robust Greenville housing market.
However, the slowdown in sales has led to an increase in housing supply, with inventory rising by 101% to 3,421 units. Despite this, new listings decreased by 17% to 940. The months’ supply of inventory increased by 145% to 2.7 months, signaling a shift in favor of supply over demand.
The average home in Greenville goes pending in around 43 days, 59.3% slower than in December 2021. As the market is now in a state of balance, we can expect homes to spend more time on the market. The median sales price increased by 2.7% to $296,000.
Is it a good time to buy a home in Greenville, SC?
As the rising costs of homeownership caused some volatility in demand as more buyers find themselves unable to afford the much higher payment, home prices will likely stay even though the demand has lessened.
Whether this is a good time for you to buy a house in Greenville or not depends on your financial situation, goals, and readiness to become a homeowner. If your situation needs to buy a home now, it pays if you understand what you can actually afford. Shop for mortgage rates and find the best lender that will offer you the best financing option.
In this balanced market, sellers are more inclined to give concessions to attract more buyers. It is one of those times buyers should take advantage of. Therefore, it’s essential to have a good Greenville realtor and mortgage lender to help navigate through this market.
*Based on information from GGAR, for the period December 1, 2022, through December 30, 2022.