Greenville, SC Among
The Hottest Markets in 2022
The housing forecast released by Realtor.com in December 2021 predicted that Greenville, SC metro area will be the 7th hottest housing market out of all metro areas in the country. True to its forecast, according to a recent study by porch.com, a mover company, Greenville, SC is the hottest real estate market so far in 2022 due to strong price growth and short selling time.
According to the study by porch.com:
Greenville, SC continues to see prices rising at an average of 18% year-over-year, and homes in this metro are selling in an average of five days.
In the study, the markets were deemed ‘hot’ if: prices and number of sales trend upwards, homes sell quickly, real estate inventory is low, and price cuts are rare.
The average median price for Greenville homes listed in September 2022 was $315,000, up 17.5% compared to last year, according to GGAR. Still, experts say Greenville remains relatively affordable compared to other cities across the country.
On average, homes in Greenville sell after 27 days on the market compared to 24 days last year. Although, at this time of the year, we’re seeing the Greenville housing market starting to cool off fueled by rising interest rates, rising home prices, and inflation.
Located approximately halfway between Atlanta, GA, and Charlotte, NC, Greenville has more than 920,000 residents in the metropolitan area and is the sixth-largest city in the state. Greenville’s economy is diverse and it helps to maintain the strong demand for real estate. The area’s low income and property taxes, as well as its small-town atmosphere and weather, are all reasons why people choose to move to Greenville. Retirees and remote workers make up a large portion of those moving to the greater Greenville area.
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