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 October 14, 2022
September 2022 Greenville Real Estate Statistics
Average Sales Price
*11.4% year-over-year increase
Average Sales Price in September 2021:
Median Sales Price
*17.5% year-over-year increase
Median Sales Price in September 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 September 2022.
New vs. Sold Listings
1,905 vs. 1,458
September 2021 New Listings: 1,744
September 2021 Sold Listings: 1,642
There were 1,905 new listings submitted to our MLS last month. That was a 9.2% increase from the previous year. There were 1,458 homes sold last month, a 11.2% decrease year-over-year.
Inventory of Homes
*83.6% year-over-year increase
Inventory of Home in September 2021:
There were only 3,978 active real estate listings in Greenville last month. There were 2,167 active listings last year in September. That’s a 83.6% increase in available homes for sale from the same time a year ago.
Days on Market
September 2021: 24 Days
The average days on the market for homes listed in September 2022 was 27 days. That’s 12.5% longer than the same time period last year.
Price Trend in Greenville Real Estate Market
The market trend reflects the home value index for September 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 September 2022
Greenville’s real estate market was a seller’s market in September but the housing market continues to cool fueled by rising interest rates, rising home prices, and inflation. Home sales and mortgage applications were affected, cooling the demand in the housing market.
The slowdown in sales has provided a much-needed lift to the housing supply, with inventory up 83.6 percent to 3,978 units. New listings were also up 9.2 percent to 1,905. Months supply of inventory was up 100 percent to 3.0 months, indicating that supply increased relative to demand.
Still despite the slowdown in home buying, the average homes in Greenville go pending in around 27 days, 12.5 percent slower than it was in September 2021. As the market continues to shift, we can expect that homes will begin to spend more days on the market.
Sellers choosing to sell their homes are still most likely to get 100 percent. The median sales price was up 17.5 percent to $315,000.
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 September 1, 2022, through September 31, 2022.