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 February 18, 2024

 

JANUARY 2024 Greenville Real Estate Statistics

Average Sales Price
$378,359

*7.2% year-over-year increase

Average Sales Price in January 2023: 
$352,791

Median Sales Price
$311,500

*4.2% year-over-year increase

Median Sales Price in January 2023: 
$299,000

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 January 2024.

 

New vs. Sold Listings
1,845 vs. 878

January 2023 New Listings: 1,409
January 2023 Sold Listings: 775

There were 1,845 new listings submitted to our MLS last month. That was 30.9% more than the previous year. There were 878 homes sold last month, a 13.3% increase year-over-year.

Inventory of Homes
3,834

Inventory of Home in January 2023: 
3,082
*24.4% y-o-year increase

There were only 3,834 active real estate listings in Greenville last month. There were 3,082 active listings last year in January. That’s a 24.4% increase in available homes for sale from the same time a year ago.

Days on Market
51 Days

January 2023: 49 Days

The average days on the market for homes listed in January 2024 was 51 days. That’s 4.1% longer than the same time period last year.

 

Price Trend in GreenvilleReal Estate Market

The market trend reflects the home value index for January 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 Seller’s market in JANUARY 2024

The latest data from the National Association of REALTORS® (NAR) reflects a dynamic landscape with both challenges and promising developments of the U.S. existing-home market. According to the NAR, existing-home sales have experienced a 1.0% month-over-month decline and a 6.2% year-over-year decrease. However, there is a notable surge in pending sales, marking the largest gain since June 2020, with an 8.3% increase from the previous month. NAR anticipates a 13% rise in existing-home sales for the year compared to 2023.

In the Greenville SC real estate market, new listings have seen a substantial uptick, rising by 30.9% to reach 1,845. Inventory, on the other hand, also grew by 24.4% to 3,834 units. The number of homes sold also increased by 13.3% to 878 units. Home prices have moved higher, with the median sales price increasing by 4.2% to $311,500. Days on the market have also experienced a slight uptick, rising by 4.1% to 51 days.

Looking ahead, more homes are expected to be listed for sale, and with mortgage rates staying steady and more homes being built, experts think the housing situation will get better in the next few months. These developments suggest a potential shift in the real estate market, with increased buyer activity and a more balanced supply-demand scenario on the horizon.

 

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 January 1, 2024, through January 31, 2024.