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 28, 2024

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 2024.

There were 1,841 new listings submitted to our MLS last month. That was 6.5% more than the previous year. There were 1,297 homes sold last month, a 2.4% decrease year-over-year.

There were only 5,011 active real estate listings in Greenville last month. There were 3,501 active listings last year in September. That’s a 43.1% increase in available homes for sale from the same time a year ago.

The average days on the market for homes listed in September 2024 was 49 days. That’s 22.5% longer than the same time period last year.

Price Trend in GreenvilleReal Estate Market

The market trend reflects the home value index for September 2024, going back 10 years.

Historical Inventory of Homes for Sale by Month in GreenvilleReal Estate Market

source: GGAR

Is Greenville in a buyer’s or seller’s market right now?

Greenville is a BUYERs market in September 2024

In Greenville, SC, the latest real estate data shows some interesting trends. While the national market has been seeing lower sales and higher prices, Greenville is reflecting some similar trends. Here's a breakdown of the local market:

More Homes on the Market: In Greenville, new property listings went up by 6.5%, with 1,841 homes coming to market. But even with more homes available, sales are slowing down. There are now 5,011 homes on the market, a 43.1% increase from last year. This increase in inventory suggests that there are more choices for buyers, but it could also mean that homes are staying on the market longer because they aren't selling as quickly.

Prices Starting to Dip: Unlike the national trend of record-high price increases, the median sales price of homes in Greenville has decreased by 3.4%, now at $309,000. This drop might give buyers a bit more affordability and suggests that while demand isn’t as strong, sellers may be adjusting their prices to meet buyers halfway.

Homes Still Selling But Slower: While homes are still selling, the pace has slowed down. They now spend an average of 49 days on the market, which is a significant increase compared to previous months.

Closed Sales: The number of home sales has decreased by 2.4% to 1,297. This decline suggests fewer buyers are locking in home purchases, likely due to higher mortgage rates or economic uncertainty. It’s a signal that while more homes are available, some buyers are holding off.

WHAT TO EXPECT

While the national market is still experiencing high prices, Greenville seems to be stabilizing. With more homes available and prices starting to adjust, it's a good time for buyers to explore their options. However, it's important to remember that the market can change quickly. Consulting with a local real estate agent can help you navigate these shifts and make informed decisions.

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 September 1, 2024, through September 30, 2024.