The real estate market in Greenville continues to be encouraging, but with some interesting aspects that might give home buyers cause for concern. As you can see from the update as of October 10, 2017 below, the current active listings for sale is down another 5.4%. While you would think the total units for sale in Greenville, at over 4600, is a lot of homes, that is actually low considering the market area. Anyone who is looking right now can attest to some level of frustration in finding a decent selection of "great" buys out there. We are definitely still in a seller's market.
The average price for a home is up 5.5% to $349,878, more good news for sellers hoping to cash in. Comparing to the market at the end of 2015, it is pretty amazing that the average price was at $282,789 back then. This can be misleading though since it is only considering the homes actively for sale and not the actual sold homes. Look further down and you will see the average sold price at $226,136, still a jump of 7.1% from last year. The average sold price at the end of 2015 was $194,102, so home prices have certainly done well over the past few years.
One comparison that I think is telling is the average days on the market for active homes vs sold homes. The average days on the market for active homes is at 109 and for sold homes it is 54. What that tells you is that there is definitely a more selective audience out there home shopping. The really nice homes (considering location, marketability, etc.) are selling very quickly and the ones that are not so nice are taking longer to sell.
Overall though, we are still living in a great area and it is hard to not be thankful for that fact!