Hard to believe it is already August. School will be starting soon and thank goodness college football will be here in a few weeks. Hope you have enjoyed your summer.
The Greenville SC real estate market is continuing to recover and moving back towards more historic numbers. The average sales prices for homes sold is increases month to month but is being influenced by the large number of first time home buyers that are taking advantage of the $8000 stimulus being offered through the end of November. Below is a brief recap of the real estate activity for July and some year to date numbers.
- 5855 active single family homes for sale. This number continues to fall each month which is a healthy sign.
- 463 homes sold in the month of July for an average sales price of $175,261. These homes sold for an average of 95% of list price.
- YTD there have been 3,362 homes sold which is down 29% compared to 2008 for the same time period.
- There are 948 new homes for sale. This number is down from typical averages of 1300.
With interest rates remaining low and inventory levels declining, our market is positioned for recovery to more typical numbers. The good news is, the Greenville area continues to outperform the majority of the other major markets and the economy here is strong.