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 August 14, 2022
July 2022 Greenville Real Estate Statistics
Average Sales Price
*14.8% year-over-year increase
Average Sales Price in July 2021:
Median Sales Price
*19.8% year-over-year increase
Median Sales Price in July 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 July 2022.
New vs. Sold Listings
1,999 vs. 1,399
July 2021 New Listings: 2,067
July 2021 Sold Listings: 1,574
There were 1,999 new listings submitted to our MLS last month. That was a 3.3% decrease from the previous year. There were 1,399 homes sold last month, a 11.1% decrease year-over-year.
Inventory of Homes
*70.3% year-over-year increase
Inventory of Home in July 2021:
There were only 3,594 active real estate listings in Greenville last month. There were 2,110 active listings last year in July. That’s a 70.3% increase in available homes for sale from the same time a year ago.
Days on Market
July 2021: 21 Days
The average days on the market for homes listed in July 2022 was 19 days. That’s a 9.5% drop from the same time last year.
Price Trend in Greenville Real Estate Market
The market trend reflects the home value index for July 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 seller’s market in July 2022
Greenville’s real estate market was a seller’s market in July but the housing market continues to cool fueled by rising interest rates, rising home prices, and inflation. Home sales and mortgage applications were affected, cooling the demand in the housing market.
The slowdown in sales has provided a much-needed lift to housing supply, with inventory up 70.3 percent to 3594 units. New listings were down 3.3 percent to 1999. Months supply of inventory was up especially in the single-family segment. That amounts to 2.6 months supply for single-family homes.
Still despite the slowdown in home buying, the average homes in Greenville go pending in around 19 days, 10 percent faster than it was in July 2021. Sellers choosing to sell their homes are still most likely to get 100 percent or more. The median sales price was up 19.8 percent to $317,390.
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 hot market, serious buyers are willing to try many different tactics to get their offers accepted. Therefore, it’s essential to have a good Greenville realtor and mortgage lender to help navigate through this challenging market.
*Based on information from GGAR, for the period July 1, 2022, through July 31, 2022.