Greenville Real Estate Market Statistics
Greenville, SC Real Estate Market Today
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 May 17, 2023
April 2023 Greenville Real Estate Statistics
Average Sales Price
*2.9% year-over-year increase
Average Sales Price in April 2022:
Median Sales Price
*1.5% year-over-year increase
Median Sales Price in April 2022:
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 April 2023.
New vs. Sold Listings
1,713 vs. 1,201
April 2022 New Listings: 1,894
April 2022 Sold Listings: 1,451
There were 1,713 new listings submitted to our MLS last month. That was 9.6% less than the previous year. There were 1,201 homes sold last month, a 17.2% decrease year-over-year.
Inventory of Homes
*125.2% year-over-year increase
Inventory of Home in April 2022:
There were only 3,601 active real estate listings in Greenville last month. There were 1,599 active listings last year in April. That’s a 125.2% increase in available homes for sale from the same time a year ago.
Days on Market
April 2022: 24 Days
The average days on the market for homes listed in April 2023 was 54 days. That’s 125% longer than the same time period last year.
Price Trend in Greenville Real Estate Market
The market trend reflects the home value index for April 2023, 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 April 2023
The Greenville real estate market appeared to be balanced in April, with both buyers and sellers acting with caution and reluctance to make significant choices until they had a better sense of the market’s direction. However, home sales continue to dive as they dropped by 17.2% compared to the same period last year. One of the main contributing factors to this decline is the fluctuations in mortgage interest rates, which has made it more challenging for potential homebuyers to afford a home.
The number of new listings also decreased by 9.6% to 1,713, however, prices moved higher as the median sales price was up to $302,500. Days on the market also surged by 125% to 54 days, and months of inventory supply increased by 172.7% to 3 months, showing a relative rise in supply compared to demand. However, the slowdown in sales has led to an increase in housing supply, with inventory rising by 125.2% to 3,601 units.
The slowdown in sales has led to an increase in the average number of days that homes stay on the market in Greenville, which currently stands at 54 days. As a result, sellers are becoming more willing to offer concessions, providing buyers with more time and bargaining power when searching for a home. Although there are more houses available for sale, they are taking longer to sell.
While house prices have remained stable, the slower sales activity means that properties are staying on the market for longer periods of time. The decrease in the number of homes being purchased has contributed to the overall slowdown in the housing market. U.S. existing-home sales declined 2.4 percent month-over-month as of last measure, according to the National Association of REALTORS® (NAR).
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 April 1, 2023, through April 30, 2023.