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 June 15, 2022
May 2022 Greenville Real Estate Statistics
Average Sales Price
*12.1% year-over-year increase
Average Sales Price in May 2021:
Median Sales Price
*19.9% year-over-year increase
Median Sales Price in May 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 May 2022.
New vs. Sold Listings
1,958 vs. 1,566
May 2021 New Listings: 1,756
May 2021 Sold Listings: 1,512
There were 1,958 new listings submitted to our MLS last month. That was a 11.5% increase from the previous year. There were 1,566 homes sold last month, a 3.6% increase year-over-year.
Inventory of Homes
*57.9% year-over-year increase
Inventory of Home in May 2021:
There were only 2,604 active real estate listings in Greenville last month. There were 1,649 active listings last year in May. That’s a 57.9% increase in available homes for sale in one year.
Days on Market
May 2021: 30 Days
The average days-on-the-market for homes listed in May 2022 was 20 days. That’s a 33.3% drop from the same time last year.
Price Trend in Greenville Real Estate Market
The market trend reflects the home value index for May 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 May 2022
Greenville’s real estate market was a seller’s market in May and after experiencing one of the strongest seller markets we’ve seen in the past months, we are seeing signs the Greenville real estate market might be cooling.
High home prices and a surge in mortgage interest rates are slowing buyer activity. The slowdown in sales has provided a much-needed lift to housing supply, with inventory up 57.9 percent to 2,604 units. New listings were up 11.5% to 1,958. Months supply of inventory was up indicating that supply increased relative to demand.
Still, the average homes in Greenville go pending in around 20 days, 50% percent faster than it was in May 2021. Sellers choosing to sell their homes are still most likely to get 100 percent or more. The median sales price was up 19.9 percent to $315,245.
Is it a good time to buy a home in Greenville, SC?
The average 30-year fixed-rate mortgage exceeded 6% as of this posting, the highest since the 2008 financial crisis. 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 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 May 1, 2022, through May 31, 2022.