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 September 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 August 2024.

There were 2,141 new listings submitted to our MLS last month. That was 10.0% more than the previous year. There were 1,548 homes sold last month, an 8.1% increase year-over-year.

There were only 4,548 active real estate listings in Greenville last month. There were 3,353 active listings last year in August. That’s a 35.6% increase in available homes for sale from the same time a year ago.

The average days on the market for homes listed in August 2024 was 45 days. That’s 9.8% longer than the same time period last year.

Price Trend in GreenvilleReal Estate Market

The market trend reflects the home value index for August 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 August 2024

The real estate market in Greenville, SC, is seeing some shifts as we navigate through the year. While home sales across the U.S. are generally slowing down, with a national drop of 5.4% both month-over-month and year-over-year, Greenville is showing some interesting trends that local buyers and sellers should pay attention to.

More Homes on the Market: In Greenville, SC new listings were up by 10% to 2,141, meaning more homes are coming on the market, which offers potential buyers more options to choose from. The inventory, which is the number of homes available for sale, grew significantly by 35.6% to 4,548 units. This increase in available homes gives buyers more choices, potentially easing some of the competition we’ve seen in past years.

Prices Inch Up: Unlike the national trend of record-high price increases, the median sales price of homes in Greenville has seen a slight increase of 2.5%, now at $320,000. While prices are still rising, the increase is more modest.

Homes Still Selling: Even with more listings, houses are disappearing fast. They now spend an average of 45 days on the market, only slightly longer than before. This is a good sign for sellers but means buyers need to act swiftly.

Closed Sales: The number of home sales has increased by 8.1%. This indicates that more people are committing to buying homes right now, despite the higher mortgage rates.

WHAT TO EXPECT

Greenville's real estate market seems to be moving towards buyers, with more choices for buyers and stable prices. It's a good time for buyers to explore more options. However, houses are still selling quickly. Whether you're buying or selling, be prepared to act strategically and consider consulting a local real estate agent for guidance in this evolving market.

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 August 1, 2024, through August 31, 2024.