The Market is shifting here in the Upstate!
If you have been thinking of selling your home and still hesitating, you had better make the decision now. GGAR has recently released the latest Greenville real estate market report and it’s showing that the Greenville housing market is starting to shift.
Watch to ensure you have the facts to make the right decisions for your family’s wealth.
You may see that signs are staying in yards a little longer this time than they have for the last couple of months. Some of the chaos you’ve heard about the hot market on the news is slowly subsiding.
A key factor in the soaring prices in Greenville real estate has been a lack of homes coming on the market. Now, housing inventory is rising. There were 1956 new listings at the end of June, according to GGAR Multiple Listing Service. That number was 1744 at the end of May. Comparing the numbers from May until June of this year, new listings increased to 212.
The median price jumped from $263,000 in May to $267,750 in June, according to GGAR Multiple Listing Service. It’s a 1.8% increase. While the median price is still 13% higher than June 2020’s $235,000, the rising inventory could lead to a potential calming down of soaring prices.
The new data from June could be caused by a seasonal shift in more listings or fewer buyers. It could be more people are simply experiencing buyer fatigue from the long period of bidding wars. Maybe, even, sellers are becoming more comfortable selling their house as more and more people receive COVID-19 vaccinations.
For buyers, this increase in inventory is a relief as they don’t have to over-bid and they no longer have to compete with 20 other buyers.