Making Sense of Local Real Estate Statistics

George Clements - Greenville SC Realtor

The statistics for the Greenville South Carolina real estate market for the beginning of the year are out in April and the news is kind of mixed. When you compare what happened in the same amount of time last year, there are some very interesting statistics. When looking at homes that have sold, we are down 20.2% compared to last year. That is a very large drop in sales. The average days on market has gone up by five. Both of these factors make the market look really bad, however, there is one good thing to see in all of this. The average price has gone up. The average price in that same time period, compared to last year, rose by 4%. So what does this all mean? Well, to get a really good feel for the market we have to look at the active listings for sale as well. Currently there are 6,725 homes on the market in the Greenville area. This is 12.2% more than last year. So when you consider that there are more active listings than last year, and that there are fewer houses selling, this means that the market is flooded with supply and short on demand. This is good news for buyers and bad news for sellers. The good news for sellers though is that prices have not decreased on those that are selling. This means that buyers cannot expect to get a great deal on a house but can expect to have a lot to choose from. If you are a seller, this makes pricing, staging, and marketing even more important. If your home is priced and staged better than the competition it will sell first. With the current market conditions, your home must be priced and staged even more competitively than ever before. If you are better than the competition you will sell, no matter how much inventory is out there.

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