What's Happening in Our Market

For the next part of my appearance on “Your Carolina With Jack and Megan,” I’m explaining what you can do to make the process of buying a home move a little bit quicker and smoother.

Looking to buy a Greenville home? Click here to search all local homes on the MLS.

Looking to sell your Greenville home? Click here to use our home evaluation tool.

Today I’m happy to show you the fourth installment of my guest appearance on “Your Carolina With Jack and Megan.”

In this segment, we addressed what you can do as a homebuyer to make the process go a little faster and a little bit about move-up buyers in our market.

When securing a mortgage, you’ll want recent paystubs and the last two years of your tax returns to start. Nowadays, much of this can even be done online with a smartphone app without even talking to someone.

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It’s a perfect market for move-up buyers.

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So what about the buyers who have to sell their house in order to buy the next one? Our current market is perfect for move-up buyers. If for example you have a $150,000 house and want to move into a $300,000 house, you’ll be able to sell your current house quickly and have a higher amount of inventory to choose from in the $300,000 market.

If you have any questions about the home buying process or anything about our market, don’t hesitate to give me a call or send me an email. I’m always happy to help!

How Are Things Looking in Greenville?

Looking to buy? Click here to perform a full home search

Thinking of selling? Click here for a FREE Home Price Evaluation 

Call us at (864) 527-7685 for a FREE home buying or selling consultation

It’s been a little bit since we’ve done a market update, so we wanted to give you a look at what’s happening here in the Greenville area. Here’s a quick snapshot of what to expect through the rest of the year.

The first number we like to look at is inventory. We are down about 7% from this time last year if you look at the number of available homes. We have about 5,000 units on the market right now, which is actually less when you factor in that 1,200 of those homes are on contingent contracts.

The average price of a home in Greenville is $325,000. The average home sale price, however, is $209,456. This number is up 3.3% from last year. The number of homes sold has risen by 8.8% as well. We have sold 5,978 so far this year.

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We are very much in a seller’s market.

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Another key indicator we like to keep track of is the average days on market, or how long it takes a home to sell on average. Last year, our average was 81 days. This year, we are seeing an average of 69 days, a 15% decrease in the number of days it takes to sell a home on the Greenville MLS.

In a nutshell, that’s where our market is right now. We are very much in a seller’s market, especially in the price points under $250,000. Homes are selling very quickly at those prices and are getting multiple offers as well.

If you are thinking about selling, it’s a great time to do so. If you’re considering buying a home, just know that you’ve got to be prepared to act quickly by getting prequalified for a mortgage. You should also use a search tool like ours where you can get instant notifications about homes that match your specific criteria.

If you have any questions for us, give us a call or send us an email. We would love to hear from you.

Why Is it Such a Good Time to Move Up in Greenville?

Looking to buy? Click here to perform a full home search
 Thinking of selling? Click here for a FREE Home Price Evaluation 
Call us at (864) 527-7685 for a FREE home buying or selling consultation

We compile a monthly Greenville real estate market report every month, and we track a lot of different numbers to get a good idea of the state of the market. Some of the important factors we track include the average days on market, the average sale price, the list-to-sale ratio and the absorption rate. Today we are going to talk about some of the recent numbers that have jumped out to us, but first, we want to give you an update on mortgage rates.

Last year, we saw mortgage rates near or at historic lows. They have dropped even lower since, and are down about 0.5% from where they were last year. Now, back to the numbers that jumped out to us.

The first number I want to mention is 1.4. That is the current months of inventory available for homes on the market between $100,000 and $200,000. That’s less than a 6-week supply! There’s a huge opportunity out there for sellers in the area to get top dollar for their home if it falls into this price range.

However, the higher you move up the pricing ladder, the more inventory we do have. In the $300,000 to $400,000 price point, we have more of a balanced market (5.3 months of inventory). In the luxury home market, we are actually in a buyer’s market.

If you’re thinking about upgrading to a new home in the near future, both our gut and the numbers say this is the time to do it. You’re going to sell very quickly if you’re priced right and staged correctly. Then you can go out and purchase a nicer home in a market where homes are staying on the market a bit longer, and have lower-than-usual sale prices. This is the perfect storm for move-up buyers, and we aren’t sure how long it will last.

If you’re looking to make a move up in the near future, or if you just have any questions for us, feel free to give us a call or send us an email. We look forward to hearing from you!

Greenville Fall Market Snapshot

Looking to buy or sell a home in Greenville, South Carolina? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (864) 527-7685 for a FREE home buying or selling consultation to answer any of your real estate questions.
Fall is finally in full swing and it's our favorite time of year here in Greenville. Today, we take a look at some recent trends and discuss what we expect to see in the future. Active home listings have increased since this time last year. In fact, inventory is up 6%, with 5,900 single-family homes, town homes, and condos currently available.  The average days on market has fallen to 88, from an average of 93 days a year ago. Homes are selling a little faster now than last year, and a whole lot faster than they were in 2011, when homes sat on the market for an average of 115 days. The average sales price has increased 5%, from $186,293 to $194,800. Additionally, the number of homes sold is up 3% since last year. What does all of this mean? Well, it means we have a healthy, balanced market here in Greenville. Homes are selling at higher prices and there are still many buyers out there looking. In short, there are many opportunities in our market for buyers and sellers alike. As always, if you would like help navigating the market, or have any real estate questions, give us a call. We hope to see you soon!

Greenville Real Estate Market Snapshot

Looking to buy or sell a home in Greenville, South Carolina? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (864) 527-7685 for a FREE home buying or selling consultation to answer any of your real estate questions.
Today, our buyer specialist, Rob Warfield, breaks down what we're seeing in the Greenville real estate market coming into the fall months. 
Stability and Balance The market is currently balanced, at about 5.5 months of inventory. This means if homes stopped being listed, we would have about 5.5 months before all the inventory was sold off. 
Location is Key It's important to note that market conditions vary by location. In some areas, we've seen many multiple offer situations. In fact, one home in that area had 12 offers! On the other hand, there are areas where homes have sat on the market for quite some time. 

The best place to start if you're looking to buy or sell a Greenville home is to give us call or shoot us an email. We're always available to meet with you and see if the fall is a great time to make your move.
Looking for your dream home in Greenville? You can contact Rob directly at (864) 404-9606 or email at Rob@MyGreenvilleHome.com.

Spring Real Estate Market Update for Greenville is Good News for Sellers

Looking to buy or sell a home in Greenville, South Carolina? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (864) 527-7685 for a FREE home buying or selling consultation to answer any of your real estate questions.

Real Estate Market Update for Greenville in Spring 2014
We're seeing a lot of activity with new buyers in Greenville as well as move-up buyers.

In certain price points (125K-175K), almost as quickly as we're putting these homes on the market they are selling. Also, if they're priced right and staged correctly they are seeing multiple offers. It's a great time to be selling within this price range.

Interest rates are still very competitive, and if you're thinking of selling then this is a built-in way to attract more buyers to your property. Call our Seller Services Hotline at (864) 527-7669 to set up a consultation. Our listing specialist will come out to your home and give you a good idea of what the market will bear for your property and how to get your home ready to sell for that price.

We also need inventory in Greenville, especially on the east side and north main area. Buyers are ready to make offers.

This is a great market to take advantage of, and you have to be sure to strike when the iron is hot because we don't know what might be happening in the summer and fall.

As always, please feel free to reach out to me and my team about any of your real estate concerns, or call us with any questions you might have. We're always here to help you!