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 December 19, 2022
November 2022 Greenville Real Estate Statistics
Average Sales Price
*6.9% year-over-year increase
Average Sales Price in November 2021:
Median Sales Price
*6.4% year-over-year decrease
Median Sales Price in November 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 November 2022.
New vs. Sold Listings
1,310 vs. 1,190
November 2021 New Listings: 1,403
November 2021 Sold Listings: 1,461
There were 1,310 new listings submitted to our MLS last month. That was a 6.6% decrease from the previous year. There were 1,190 homes sold last month, a 18.5% decrease year-over-year.
Inventory of Homes
*107.4% year-over-year increase
Inventory of Home in November 2021:
There were only 3,862 active real estate listings in Greenville last month. There were 1,862 active listings last year in November. That’s a 107.4% increase in available homes for sale from the same time a year ago.
Days on Market
November 2021: 23 Days
The average days on the market for homes listed in November 2022 was 35 days. That’s 52.2% longer than the same time period last year.
Price Trend in Greenville Real Estate Market
The market trend reflects the home value index for November 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 November 2022
Greenville’s real estate market was a balanced market in November. Existing home sales declined for the third consecutive month, with sales down 18.5 percent from the same period last year. High inflation and soaring interest rates have put a dent in the purchasing power and have contributed to the cooling of what was once a hot Greenville housing market.
The slowdown in sales has provided a much-needed lift to the housing supply, with inventory up 107.4 percent to 3,862 units. However, new listings were down 6.6 percent to 1,310. Months supply of inventory was up 150 percent to 3 months, indicating that supply increased relative to demand.
The average homes in Greenville go pending in around 35 days, 52.2 percent slower than it was in November 2021. As the market now tipping at a balance point, we can expect that homes will begin to spend more days on the market. The median sales price was up 6.4 percent to $303,240.
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 November 1, 2022, through November 30, 2022.