Here’s the latest update on the Greenville real estate market. This page is updated every month to keep a running archive of Greenville’s real estate statistics from our local MLS. If you’re moving to Greenville and have questions about Greenville real estate market, don’t hesitate to contact us. We’d love to discuss in detail the activities in our local market. If you’re on the market to sell your home or buy a home, this data will help you gauge if it’s a good time to sell or buy.

The Current State of the Real Estate Market in Greenville

Average Sales Price

$360,687

*10.8% year-over-year increase
Average Sales Price in October 2021: 
$325,449

Median Sales Price

$302,000

*9.8% year-over-year increase
Median Sales Price in October 2021: 
$275,000

NOTE: The average sales price is the combined average of all sold properties in greater Greenville for the same time period. The median home price is the most common sales price of all the homes sold in greater Greenville from our last month’s sales in October 2022.

New vs. Sold Listings

1,693 vs. 1,225

October 2021 New Listings: 1,722
October 2021 Sold Listings: 1,423

There were 1,722 new listings submitted to our MLS last month. That was a 1.7% decrease from the previous year. There were 1,225 homes sold last month, a 13.9% decrease year-over-year.

Inventory of Homes

4,054

*94.3% year-over-year increase
Inventory of Home in October 2021: 
2,087

There were only 4,054 active real estate listings in Greenville last month. There were 2,087 active listings last year in October. That’s a 94.3% increase in available homes for sale from the same time a year ago.

Days on Market

32 Days

October 2021: 21 Days

The average days on the market for homes listed in October 2022 was 32 days. That’s 52.4% longer than the same time period last year.

Greenville is a balanced market in October 2022

Greenville’s real estate market was a balanced market in October. Existing home sales declined for the second consecutive month, with sales down 13.9 percent from the same period last year. High inflation and soaring interest rates have put a dent in the purchasing power and have contributed to the cooling of what was once a hot Greenville housing market.

The slowdown in sales has provided a much-needed lift to the housing supply, with inventory up 94.3 percent to 4,054 units. However, new listings were down 1.7 percent to 1,693. Months supply of inventory was up 121.4 percent to 3.1 months, indicating that supply increased relative to demand.

The average homes in Greenville go pending in around 31 days, 52.4 percent slower than it was in October 2021. As the market now tipping at a balance point, we can expect that homes will begin to spend more days on the market. The median sales price was up 9.8 percent to $302,000.

Is it a good time to buy a home in Greenville, SC?

As the rising costs of homeownership caused some volatility in demand as more buyers find themselves unable to afford the much higher payment, home prices will likely stay even though the demand has lessened.

Whether this is a good time for you to buy a house in Greenville or not depends on your financial situation, goals, and readiness to become a homeowner. If your situation needs to buy a home now, it pays if you understand what you can actually afford. Shop for mortgage rates and find the best lender that will offer you the best financing option.

In this balanced market, sellers are more inclined to give concessions to attract more buyers. It is one of those times buyers should take advantage of. Therefore, it’s essential to have a good Greenville realtor and mortgage lender to help navigate through this market.