How was the Greenville Real Estate Market in July?

As the final days of summer fade and the Upstate settles into a new season, we're taking a closer look at what this means for the Greenville real estate market. The narrative is shifting from a frenzied seller's market to a more balanced environment, creating new opportunities for both buyers and sellers.

Here’s a snapshot of the trends we’re seeing as we head into fall.

The Market is Rebalancing

After a period of intense competition, the greater Greenville market is showing healthy signs of equilibrium. We are seeing a significant rise in housing inventory, with some reports showing a year-over-year increase of over 40% in available homes. For buyers, this is fantastic news—you now have more choices and more time to find the perfect home. This is a noticeable change from recent years, giving you more power to tour multiple properties and negotiate.

Prices Continue to Appreciate, but at a Healthy Pace

While the market is no longer in a hyper-competitive state, home values in the Greenville area are still on a solid upward trajectory. Recent data shows that the median home price is holding strong, typically in the high $300,000s to low $400,000s, with a steady year-over-year increase. This shows that the market remains resilient, a testament to Greenville's continued desirability. For sellers, this means you can still expect to get a great return on your investment, but strategic pricing and home presentation are more important than ever to stand out.

Homes are Staying on the Market Longer

In a sign of the market's rebalancing, the average number of days a home stays on the market has increased. While we still see well-priced, move-in-ready homes selling quickly, the overall average is trending upwards, now closer to 50 days. This shift gives buyers the breathing room they need to make a thoughtful decision. It also highlights the importance for sellers of a strong marketing strategy and professional staging to attract serious offers.

Why Greenville Continues to Shine

The demand for homes in the Upstate remains robust, fueled by consistent job growth and a steady influx of new residents. Greenville's thriving job market, beautiful natural surroundings, and vibrant downtown life make it a top destination for both in-state and out-of-state buyers. For example, even in the luxury market, properties are attracting significant interest from those relocating from larger metro areas.

As we've seen with beautiful homes in Simpsonville, Greer and Fountain Inn, buyers are looking for a perfect blend of comfort, charm, and convenience. This fall, we expect the market to continue its move toward a more balanced state, offering a healthy environment for both buying and selling.

Whether you are looking to buy, sell, or simply want to know more about what’s happening in your neighborhood, we're here to help. Contact us today to get the latest insights and a personalized strategy.