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 April 20, 2022
March 2022 Greenville Real Estate Statistics
Average Sales Price
*16.1% year-over-year increase
Average Sales Price in March 2021:
Median Sales Price
*17.4% year-over-year increase
Median Sales Price in March 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 March 2022.
New vs. Sold Listings
1,760 vs. 1,538
March 2021 New Listings: 1,738
March 2021 Sold Listings: 1,522
There were 1,760 new listings submitted to our MLS last month. That was a 1.3% increase from the previous year. There were 1,538 homes sold last month, a 1.1% increase year-over-year.
Inventory of Homes
*8.0% year-over-year increase
Inventory of Home in March 2021:
There were only 2,049 active real estate listings in Greenville last month. There were 1,897 active listings last year in March. That’s an 8.0% increase in available homes for sale in one year.
Days on Market
March 2021: 41 Days
The average days-on-the-market for homes listed in March 2022 was 28 days. That’s a 31.7% drop from the same time last year.
Price Trend in Greenville Real Estate Market
The market trend reflects the home value index for March 2022, going back 10 years.
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 March 2022
Greenville’s real estate market is still a seller’s market. There were only 2049 homes for sale last month. At the same time last year, inventory was lower and we’ve barely increased since then.
The median sales price was up 17.4 percent to $295,290 and days on market decreased 31.7 percent to 28 days. We’ve seen a slight increase in months supply of homes to 1.4 percent, slightly higher than February’s 1.3. Still, the demand is higher than the current supply so sellers are still experiencing record sales prices, and buyers are still having a hard time finding homes.
The average homes in Greenville go pending in around 28 days, 6% faster than it was in February. Sellers choosing to sell their homes are most likely to get 100% or more.
With inventory shortage, many prospective buyers are turning to new construction homes but with rising construction costs, many buyers are finding they can’t afford to purchase a new home. The low inventory of homes boosts demand which helps home prices soar even further.
Is it a good time to buy a home in Greenville, SC?
The current local market condition indicates it’s a seller’s market. 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.
In this hot market, serious buyers are willing to try many different tactics to get their offers accepted. Therefore, it’s essential to essential to have a good real estate agent and mortgage lender to help navigate through this challenging market.
*Based on information from GGAR, for the period March 1, 2022, through March 31, 2022.