Greenville, SC
Housing Market
Greenville's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Greenville's supply and demand trends. Our report equips you with all the information you need to make well-informed decisions.
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Buy or SellSouth Carolina Housing Market Overview
The housing market in Greenville offers a mix of housing inventory, including historic homes, modern townhouses, and single-family properties. Recently, the Greenville real estate market has seen substantial growth. The median home price has risen by 15.1%, reaching $495,000. Properties typically remain on the market for 56 days, up by 24 days from the previous year. Over the years, Greenville has experienced strong property value appreciation, driven by its expanding economy, desirable location, and high quality of life.
On the other hand, home sales have seen a positive increase. Recently, 73 homes were sold, reflecting a 37.7% increase from the previous year. This surge suggests a more competitive market with increased buyer activity. However, Greenville's real estate market remains a key driver of the Upstate South Carolina economy. Known for its vibrant downtown, beautiful parks, and a growing job market, Greenville attracts both local and out-of-state buyers. To take advantage of this demand, sellers can price their homes competitively and offer concessions to close the deal quickly.
On the other hand, home sales have seen a positive increase. Recently, 73 homes were sold, reflecting a 37.7% increase from the previous year. This surge suggests a more competitive market with increased buyer activity. However, Greenville's real estate market remains a key driver of the Upstate South Carolina economy. Known for its vibrant downtown, beautiful parks, and a growing job market, Greenville attracts both local and out-of-state buyers. To take advantage of this demand, sellers can price their homes competitively and offer concessions to close the deal quickly.
Median Sale Price
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Greenville Housing Supply
Greenville attracts real estate investors with its growing economy and high demand. The number of homes for sale in Greenville has increased to 294 properties, marking a 33.3% rise year over year. This uptick includes 109 new listings entering the market. The housing supply in Greenville currently stands at 4 months, indicating a relatively balanced market.
Greenville's housing supply levels follow seasonal trends. During the spring and summer, the market typically sees an increase in home listings. Both sellers and buyers remain active, hoping to close deals before the school year begins or as the season shifts. Greenville offers a unique lifestyle, combining a vibrant downtown with easy access to outdoor activities, which fuels demand and attracts both local and out-of-state buyers. Popular neighborhoods such as Downtown Greenville, Augusta Road, and Taylors offer a variety of housing options, from modern townhomes to traditional single-family homes. Greenville's strong economy, excellent schools, and expanding infrastructure continue to enhance its appeal.
Greenville's housing supply levels follow seasonal trends. During the spring and summer, the market typically sees an increase in home listings. Both sellers and buyers remain active, hoping to close deals before the school year begins or as the season shifts. Greenville offers a unique lifestyle, combining a vibrant downtown with easy access to outdoor activities, which fuels demand and attracts both local and out-of-state buyers. Popular neighborhoods such as Downtown Greenville, Augusta Road, and Taylors offer a variety of housing options, from modern townhomes to traditional single-family homes. Greenville's strong economy, excellent schools, and expanding infrastructure continue to enhance its appeal.
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Greenville Housing Demand
Greenville's real estate market has shown moderate competition recently. 11% of Greenville homes have sold above their list price, indicating strong buyer interest in well-priced properties. On the other hand, 27.7% of homes have experienced price reductions, reflecting a shift in some sellers' expectations. Moreover, the sale-to-list price ratio has reached 97%, meaning that sellers are receiving approximately 3% less than their asking price for homes.
In this market, strategic pricing and the prevailing sale-to-list price ratio are essential in determining negotiation power. As a home seller, pricing your property accurately from the start can help avoid the need for price reductions. You can also offer concessions to buyers instead of lowering your asking price right away. With a sale-to-list price ratio below 97%, buyers may be in a better position to negotiate a lower price. If you're a buyer, you should target homes with longer listings or price drops for negotiation opportunities.
In this market, strategic pricing and the prevailing sale-to-list price ratio are essential in determining negotiation power. As a home seller, pricing your property accurately from the start can help avoid the need for price reductions. You can also offer concessions to buyers instead of lowering your asking price right away. With a sale-to-list price ratio below 97%, buyers may be in a better position to negotiate a lower price. If you're a buyer, you should target homes with longer listings or price drops for negotiation opportunities.
Homes Sold Above List Price
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Strong
Buyer
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Balanced
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Strong
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Greenville Housing Market: When to Buy or Sell?
Greenville's housing market has seen both buyer-friendly and seller-friendly conditions over time. Like the broader South Carolina real estate market, Greenville's housing market can favor both buyers and sellers depending on seasonal trends. When competition is low and inventory increases, buyers have more room to negotiate. On the other hand, sellers can benefit from higher prices and faster sales when demand exceeds supply.
Moreover, if the months of Greenville's housing supply rise above the balanced conditions of the US real estate market (5 to 6 months), buyers may have more time to consider their options. Understanding these market dynamics can help you strategically time your purchase or sale.
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Frequently Asked Questions
How have Greenville house prices changed over the past year?
Over the past year, median home prices in Greenville have seen a solid increase. The average price for single-family homes is $477,500, while condos typically sell for around $775,000. The market has continued to appreciate, driven by strong demand in the area. Sellers have adjusted their pricing strategies to remain competitive in this growing market. You can use our free home value estimator to assess your property's current market value and compare it with nearby sales.
What are Greenville, SC, real estate market predictions for 2025?
Home prices in Greenville are expected to continue increasing in 2025, though at a more moderate pace. The city remains highly attractive to both local and out-of-state buyers, thanks to its affordable housing and vibrant economy. However, affordability may become more challenging as prices continue to rise across the South Carolina housing market.
What's the Greenville, SC average housing price?
The average home price in Greenville, SC varies depending on the property type. Single-family homes average $477,500, while condos are priced higher at $775,000. If you're looking to buy, there are cheap homes for sale in Greenville that can fit your budget.
Is this a good time to buy a home in Greenville, SC?
You should assess the current trends in housing prices and inventory in Greenville. Sellers can benefit from rising demand, but if mortgage rates remain stable and there's a sufficient supply of homes, it could be a good time for buyers to negotiate. Keep an eye on the Greenville, SC housing market trends to determine the best time for investment.
How is the housing market right now in Greenville?
The housing market in Greenville is steady, with strong demand and a slight increase in home prices. Homes are remaining on the market for a reasonable amount of time, but competition remains moderate. Sellers are adjusting prices to attract buyers, and properties continue to sell well, especially in desirable areas.
When will the Greenville housing market crash?
According to the Greenville housing market forecast, the market is unlikely to experience a crash. Prices will likely continue to rise steadily due to the area's strong economic growth and increasing demand. The market is expected to remain stable with sustained appreciation through 2025.
How to buy a home in Greenville?
To purchase a home in Greenville, start by setting a clear budget and obtaining mortgage pre-approval. From there, you can search for homes for sale in Greenville, make offers, secure financing, and proceed with closing the sale. Working with a knowledgeable real estate agent can help you navigate the market more effectively.
How can I list my home for sale in Greenville, SC?
You can list your home for sale using a Flat Fee MLS South Carolina listing service. High-tech MLS listing sites like Houzeo automatically handle the paperwork, helping you save on traditional agent commissions and listing fees. 🚀
What is the average mortgage rate for buyers in Greenville?
The average mortgage rate for buyers fluctuates between 6.80% and 7%. It depends on the market and the borrower's credit score. Always check current rates with lenders.
What is the cost of living in Greenville, South Carolina?
The cost of living in Greenville, SC is 7% lower than the national average, making it an affordable place to live. Housing costs are 27% less than the national average, and utilities are 7% lower. The typical single-family home in Greenville costs $477,500, with regional price variations. Other essential expenses, such as food, clothing, and transportation, are also lower than the national average, making Greenville an attractive option for many.
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