December is here and brings a close to turbulent 2008 real estate market. Home sales across the country have been down and many markets have experienced extreme loss of home values. The Greenville South Carolina real estate market has continued to outperform most parts of the United States despite the problems with the overall U.S. economy.
According to the Greater Greenville Association of Realtors, through November 30th sales of single family homes are down 21% compared to 2007. The average sales price however was down just 1% and days on market had increased just 7 days. The average sales price so far in 2008 has been $187,215 and the average days on market has been 91 days.
The outlook for 2009 calls for a recovery in our home sales by the second quarter. This timing will be dependent on many factors that could effect this timing. Our market includes a large number of families relocating here from many parts of the country and many of these families need to sell their current homes before being able to purchase their new home here.
Greenville is a great place to work and live. Please visit my Greenville area home search where you have instant access to all of the homes and condos for sale in our area.