The State of the Greenville Real Estate Market

Every time you turn on the news you hear more gloom and doom about the housing market.  Usually they refer to the "national" market and trends which makes as much sen...

The State of the Greenville Real Estate Market Close

The State of the Greenville Real Estate Market

Posted by Eddy Kicker on Thursday, October 25th, 2007 at 5:21pm.

Every time you turn on the news you hear more gloom and doom about the housing market.  Usually they refer to the "national" market and trends which makes as much sense as having a national weather forecast.  Real estate market conditions vary greatly from state to state and city to city.

The South Carolina Association of Realtors' recently released numbers for the first 3 quarters of 2007. These are from the 5 major real estate areas for the state.

  Sales Change from 06 Median Price Change from 06
Charleston 9,219 -17.7% $211,000 1.50%
Columbia 8,349 -0.30 $145,000 3.90
GREENVILLE 7,369 0.90% $149,000 0.90
Hilton Head 1,879 -5.48 $356,000 -5.57%
Myrtle Beach 6,189 -28.9% $206,000 6.84%
Statewide 48,967 -8.75% $160,000 0.27%

These numbers show the wide disparity just when looking at the real estate market inside the state of South Carolina and comparing number of homes sold in 2007 vs. 2006.  The median price is only down in one of the major markets.  Greenville is still a solid market and is basically even to 2006 in units sold and pricing. Days on market remain at 86 days.

The negative impact on our market has been the fact that many of the home buyers moving to our area have been unable to sell their current homes. Many of these buyers are from the state of Florida where the market has seen not only a price correction but extremely slow sales.

Greenville South Carolina is a great place to call home and if you are considering relocating here, please visit my Greenville South Carolina Real Estate web site.

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