Today I want to share our latest market numbers and help you decide if it is a great time to buy or sell.
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I was recently on “Your Carolina with Jack & Megan” to talk about the market, and if you're thinking about buying or selling, you won't want to miss this episode—which you can follow along with above as we discuss the latest developments in our market.
The first statistic we should consider is inventory, also known as the supply. When the market slows down, supply typically rises. Currently, we're still seeing supply decrease with a 2.7% decrease compared to this time last year. This indicates that it is still a strong market.
The average days on market (the amount of time it takes a home to sell) is another key indicator of overall market conditions. Currently, the average number of days on market is down about 3%, which means that we are still seeing a strong market, even though some people are saying it is slowing.
The numbers don't indicate a slowing. In fact, the average price of a home is still going up. We are up 8.4% from this time last year with a price of $245,000. It is still a seller's market below $250,000. If you put a home on the market that is $175,000 to $225,000, it sells very quickly.
The first statistic we should consider is inventory, also known as the supply. When the market slows down, supply typically rises. Currently, we're still seeing supply decrease with a 2.7% decrease compared to this time last year. This indicates that it is still a strong market.
The average days on market (the amount of time it takes a home to sell) is another key indicator of overall market conditions. Currently, the average number of days on market is down about 3%, which means that we are still seeing a strong market, even though some people are saying it is slowing.
The numbers don't indicate a slowing. In fact, the average price of a home is still going up. We are up 8.4% from this time last year with a price of $245,000. It is still a seller's market below $250,000. If you put a home on the market that is $175,000 to $225,000, it sells very quickly.
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The great thing about selling now is that there's actually less competition because there are fewer homes on the market.
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Since it is fall, many people think that now isn't the time to sell because homes don't sell. However, this is a misconception. It is actually a very robust market here and we see a lot of homes sold. The great thing about selling now is that there's actually less competition because there are fewer homes on the market as you go into the winter months. The buyers that are out there are also more serious about finding a home and want to buy.
The entire Greenville area is still very popular. Specifically the Five Forks area as well as inside the city is becoming increasingly popular. In fact, we put a home on the market a few weeks ago in West Greenville that received 15 offers. People want to go into the village and fix homes up and make a nice community.
Days on market still does matter greatly. We try to price a home so that it sells in 30 to 45 days. If it does stay on the market longer than this, we don't want it to reach 60 days because then when buyers look at it they make lowball offers. You want to come onto the market and price to sell it quickly, or people may think that there is something wrong with the property.
If you have any questions about our current market, or if you're interested in talking about buying and selling, please feel free to reach out to me. I look forward to speaking with you soon.
The entire Greenville area is still very popular. Specifically the Five Forks area as well as inside the city is becoming increasingly popular. In fact, we put a home on the market a few weeks ago in West Greenville that received 15 offers. People want to go into the village and fix homes up and make a nice community.
Days on market still does matter greatly. We try to price a home so that it sells in 30 to 45 days. If it does stay on the market longer than this, we don't want it to reach 60 days because then when buyers look at it they make lowball offers. You want to come onto the market and price to sell it quickly, or people may think that there is something wrong with the property.
If you have any questions about our current market, or if you're interested in talking about buying and selling, please feel free to reach out to me. I look forward to speaking with you soon.
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