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 July 15, 2022
June 2022 Greenville Real Estate Statistics
Average Sales Price
*14.4% year-over-year increase
Average Sales Price in June 2021:
Median Sales Price
*16.6% year-over-year increase
Median Sales Price in June 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 June 2022.
New vs. Sold Listings
2,307 vs. 1,692
June 2021 New Listings: 1,964
June 2021 Sold Listings: 1,772
There were 2,307 new listings submitted to our MLS last month. That was a 17.5% increase from the previous year. There were 1692 homes sold last month, a 4.5% decrease year-over-year.
Inventory of Homes
*75.4% year-over-year increase
Inventory of Home in June 2021:
There were only 3,231 active real estate listings in Greenville last month. There were 1,842 active listings last year in June. That’s a 75.4% increase in available homes for sale from the same time a year ago.
Days on Market
June 2021: 24 Days
The average days-on-the-market for homes listed in June 2022 was 18 days. That’s a 25% drop from the same time last year.
Price Trend in Greenville Real Estate Market
The market trend reflects the home value index for June 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 June 2022
Greenville’s real estate market was a seller’s market in June but we are seeing a slowdown in the housing market fueled by rising interest rates, home prices, and inflation.
We’ve seen the highest interest rate spike, approaching 6%, last June because Fed raised interest rates by 0.75 percentage points in June, its first move of that size since 1994. Home sales and mortgage applications were affected, rapidly cooling the demand in the housing market.
The slowdown in sales has provided a much-needed lift to housing supply, with inventory up 75.4 percent to 3231 units. New listings were up 17.5% to 2307. Months supply of inventory was up indicating that supply increased relative to demand.
Still, the average homes in Greenville go pending in around 18 days, 25% percent faster than it was in June 2021. Sellers choosing to sell their homes are still most likely to get 100 percent or more. The median sales price was up 16.6 percent to $311,524.
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 June 1, 2022, through June 30, 2022.