My Mid-Year Greenville Market Update, Live From “Your Carolina”

Greenville, SC Real Estate Podcast with Dan Hamilton

The current situation in our market is great for sellers but a little tough for buyers. Here’s why.

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On my latest appearance on “Your Carolina With Jack & Megan,” I provided a quick mid-year market update by looking at a few key year-over-year statistics that I’d like to share with you.

The first is the inventory available for sale, which is down 3% compared to this time last year. At that point, we had low inventory as well, so this goes to show you how few homes are on the market.

Next up was the number of homes sold year to date, which has increased 9% compared to last year. This increase, coupled with our low-inventory environment, means demand for homes is sky-high right now, and this demand is driving up prices.

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If you’re looking at a house that just came on the market, be prepared to offer full price or more for it.

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If you’re a homeowner who’s trying to build equity in your home, this is good news. If you’re a buyer, however, the situation is tougher and affordability is becoming an issue. The average price for a Greenville home is currently $243,000. About four or five years ago, it was $186,000.

As I mentioned on the show, my advice to those who’re looking at a house that just came on the market is to be prepared to offer full price or more for it. Odds are, there are many more people looking at that house. Also, remember that the highest offer isn’t always the one that gets the house. If you find yourself in a multiple offer situation, try including a letter to the seller in your offer that tells them a little bit about you and why you want the house.

As always, if you have any questions about our Greenville market or you’re thinking of buying or selling a house, don’t hesitate to reach out to me. I’d be happy to help you.