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 November 23, 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 October 2024.

There were 1,860 new listings submitted to our MLS last month. That was 0.9% less than the previous year. There were 1,299 homes sold last month, a 4.8% increase year-over-year.

There were only 4,948 active real estate listings in Greenville last month. There were 3,656 active listings last year in October. That’s a 35.3% increase in available homes for sale from the same time a year ago.

The average days on the market for homes listed in October 2024 was 54 days. That’s 28.6% longer than the same time period last year.

Price Trend in GreenvilleReal Estate Market

The market trend reflects the home value index for October 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 BALANCED market in October 2024

The real estate market in Greenville, SC, is undergoing some notable changes as we head into the final stretch of the year. Like many areas nationwide, Greenville is experiencing shifts in inventory, pricing, and buyer activity, making it an interesting time for both buyers and sellers. While national data from the National Association of REALTORS® (NAR) shows a slowdown in home sales and prices holding steady, Greenville's local market has its own unique dynamics that are worth exploring.

Whether you’re planning to buy, sell, or simply stay informed, understanding these local trends can help you make smarter real estate decisions. Here's a breakdown of the local market:

A Slight Dip on New Listings on the Market: The number of homes hitting the market in Greenville has slightly decreased by 0.9% compared to last year. While the decrease is small, it indicates a slight slowdown in new options for buyers.

Inventory is Growing: On the flip side, the total number of homes available for sale rose by 35.3%, reaching 4,948 units. This increase in inventory gives buyers more choices than they’ve had in recent years, which could help ease competition and create more balance in the market.

Home Prices Are Adjusting: The median home price in Greenville is now $314,900, a 3.1% drop from last year. This could be good news for buyers looking for slightly better deals. However, sellers might need to adjust their pricing strategies to compete in this shifting market.

Homes Still Selling But Slower: While homes are still selling, the pace has slowed down. Homes are staying on the market longer, averaging 54 days, a jump of 28.6%. This indicates that homes are taking more time to sell as buyers weigh their options.

Closed Sales Are Up: Despite shifts in other areas of the market, closed sales in Greenville saw a positive trend, increasing by 4.8% to 1,299 homes sold. This suggests that deals that are closing are steady and even improving. This could indicate growing confidence among committed buyers and sellers working to finalize transactions.

WHAT TO EXPECT

Greenville’s market reflects a period of adjustment with more homes to choose from, slightly lower prices, and longer selling times. The rise in closed sales shows there’s still activity in the market for those ready to buy or sell. Whether you're looking to make a move or just keeping an eye on trends, these shifts offer opportunities for all sides.

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 October 1, 2024, through October 31, 2024.