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 June 21, 2024

 

MAY 2024 Greenville Real Estate Statistics

Average Sales Price
$389,802

*2.4% year-over-year increase

Average Sales Price in May 2023: 
$380,598

Median Sales Price
$315,000

*0% year-over-year change

Median Sales Price in May 2023: 
$315,000

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 May 2024.

 

New vs. Sold Listings

2,214 vs. 1,605

May 2023 New Listings: 1,918
May 2023 Sold Listings:
1,587

There were 2,214 new listings submitted to our MLS last month. That was 15.4% more than the previous year. There were 1,605 homes sold last month, a 1.1% increase year-over-year.

Inventory of Homes

4,716

Inventory of Home in May 2023: 
2,957
*59.5% y-o-year increase

There were only 4,716 active real estate listings in Greenville last month. There were 2,957 active listings last year in May. That’s a 59.5% increase in available homes for sale from the same time a year ago.

Days on Market

46 Days

May 2023: 44 Days

The average days on the market for homes listed in May 2024 was 46 days. That’s 4.5% longer than the same time period last year.

 

Price Trend in GreenvilleReal Estate Market

The market trend reflects the home value index for May 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 MAY 2024

The housing market is showing some interesting trends, and Greenville, SC, is no exception. Here's a breakdown of what's happening locally:


More Choices for Buyers: There's good news for those looking to buy! The number of new listings in Greenville has increased by 15.4% to 2,214. This means you have more options to consider compared to the same time period last year.

Price Stability: Unlike the national trend of rising prices, Greenville's median sales price has remained flat at $315,000. This could be a sign of a stabilizing market. This means that prices haven't gone up or down, offering a consistent market value for homes in the area.

Market Balancing to Buyers: The significant increase in listings suggests a shift towards a buyers market, which means that the supply of homes is greater than the demand for homes.


Homes Still Selling Quickly: Even with more listings, houses are disappearing fast. They now spend an average of 46 days on the market, only slightly longer than before. This indicates that buyers might have a bit more time to make their decisions.

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 May 1, 2024, through May 31, 2024.