Now that we are in the last quarter of 2007, I thought it would be good for home buyers to have a look at some statistics about the Greenville South Carolina real estate market. This year has been a bit of a roller coaster ride with business starting the year off slowly and really picking up during the summer and currently is a little soft. Much of the current market condtion is directly tied to the fact the clients looking to relocate here are having problems selling their current homes in other states.
Through October 9th, there have been a total of 7,231 homes sold in the Greater Greenville SC area for an average price of $188,486. On average these homes were on the market for 83 days and sold for 97% of list price. Over 60% of these home sales were in the following 4 areas:
- Greenville-1865 Homes Sold
- Simpsonville-1339 Homes Sold
- Greer-935 Homes Sold
- Taylors-463 Homes Sold
When comparing 2007 to 2006, the total homes sold is only down 3.5% which is much better than most other areas of the United States. Days on market are comparable year to year. Over 10% of the sales in 2007 were cash sales, while 82% were conventional mortgages and the balance were FHA or VA.
There are currently 5,686 homes for sale in our market which is comparable to the same time period in 2006. The average price for these listing is $260,054. Of these active listings, there are 1,580 new/never lived in homes on the market for an average price of $296,462. These homes are spread out all over the Greenville area market, but nearly 60% of them are located in:
- Simpsonville-375 New Homes For Sale
- Greenville-234 New Homes For Sale
- Greer-216 New Homes For Sale
- Taylors-112 New Homes For Sale
In my opinion, these new homes offer the best opportunity to take advantage of the soft market. Most of the builders are offering attractive discounts/paid closing costs on inventory homes that are much better than typically available in this market. I have a great deal of new homes experience and would welcome the opportunity to work with you.