What the Q1 Numbers Say About Our Greenville Market

As we move into the second quarter of 2019, our Greenville market is looking stable, and now is a great time to sell.

Looking to buy a Greenville home? Click here to search all local homes on the MLS.

Looking to sell your Greenville home? Click here to use our home evaluation tool.

Now that we’re into the second quarter of 2019, it’s a great time to look back at the first quarter of our market to see where things stand between buyers and sellers as we move through spring.

To really gauge our market, there are four numbers I like to track: inventory, home sales, the average sale price, and the average days on market. Here’s how each of these numbers stack up compared to the first quarter of last year:

• Inventory rose 6.8% to 4,271 active homes on the market

• The number of sales dropped 1.7% to 2,768 homes

• The average sale price rose 0.9% to $240,398

• The average days on market rose 4.9% to 64 days

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Just a few months ago, the U.S. News & World Report said that 2019 was going to be the best year for home sellers in recent memory.

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What these numbers mean is our market is very stable, and stability is good. Just a few months ago, the U.S. News & World Report said that 2019 was going to be the best year for home sellers in recent memory. Interest rates are still very low, and 20% of all millennials say they plan on buying a home within the year. 

If you want to sell your current home and buy another home, I recommend putting your home on the market first and getting it under contract before looking for your next home. Otherwise, you run the risk of owning (and paying for) two homes at the same time.

If you have any more questions about our Greenville market or you need help buying or selling a home, don’t hesitate to reach out to me. I’d love to help you.

A Few Reasons to Consider Selling Your Home This Winter

The winter might be a better time to sell your home than you think. Here are a few reasons why.

Looking to buy a Greenville home? Click here to search all local homes on the MLS.

Looking to sell your Greenville home? Click here to use our home evaluation tool.

Winter may be the best time to put your home on the market. If you were waiting until spring, you may not have to. On my recent appearance on “Your Carolina with Jack & Megan,” I discussed why the winter is a fantastic opportunity for homeowners to get their properties on the market.

One of the biggest misconceptions in real estate is that the winter is a bad time to sell. However, lower inventory means less competition. If you wait until June or July, you’ll be competing against many other homebuyers. The more supply that’s out there, the more home prices get compressed.

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If you wait until June or July to list, your competition will increase exponentially.

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Secondly, this is the time of year where many companies are helping their employees out by giving them bonuses and year-end payouts. They are starting to collect those right now and will have a little bit of extra money in their pocket.

Finally, did you know that January is the No. 1 month for corporate relocations? With that being so, there will be a lot of people coming into the area, looking to pick a house quickly by January. You'll want to be on the market now to take advantage of those buyers.

Thanks again to Jack and Megan for having me. If you have any questions about why winter is a great time to sell or about real estate in general, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

What Is Happening in Your Greenville Market?

Today I want to share our latest market numbers and help you decide if it is a great time to buy or sell.

Looking to buy a Greenville home? Click here to search all local homes on the MLS.

Looking to sell your Greenville home? Click here to use our home evaluation tool.

I was recently on “Your Carolina with Jack & Megan” to talk about the market, and if you're thinking about buying or selling, you won't want to miss this episode—which you can follow along with above as we discuss the latest developments in our market.

The first statistic we should consider is inventory, also known as the supply. When the market slows down, supply typically rises. Currently, we're still seeing supply decrease with a 2.7% decrease compared to this time last year. This indicates that it is still a strong market.

The average days on market (the amount of time it takes a home to sell) is another key indicator of overall market conditions. Currently, the average number of days on market is down about 3%, which means that we are still seeing a strong market, even though some people are saying it is slowing.

The numbers don't indicate a slowing. In fact, the average price of a home is still going up. We are up 8.4% from this time last year with a price of $245,000. It is still a seller's market below $250,000. If you put a home on the market that is $175,000 to $225,000, it sells very quickly.

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The great thing about selling now is that there's actually less competition because there are fewer homes on the market.

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Since it is fall, many people think that now isn't the time to sell because homes don't sell. However, this is a misconception. It is actually a very robust market here and we see a lot of homes sold. The great thing about selling now is that there's actually less competition because there are fewer homes on the market as you go into the winter months. The buyers that are out there are also more serious about finding a home and want to buy.

The entire Greenville area is still very popular. Specifically the Five Forks area as well as inside the city is becoming increasingly popular. In fact, we put a home on the market a few weeks ago in West Greenville that received 15 offers. People want to go into the village and fix homes up and make a nice community.

Days on market still does matter greatly. We try to price a home so that it sells in 30 to 45 days. If it does stay on the market longer than this, we don't want it to reach 60 days because then when buyers look at it they make lowball offers. You want to come onto the market and price to sell it quickly, or people may think that there is something wrong with the property.

If you have any questions about our current market, or if you're interested in talking about buying and selling, please feel free to reach out to me. I look forward to speaking with you soon.

My Mid-Year Greenville Market Update, Live From “Your Carolina”

The current situation in our market is great for sellers but a little tough for buyers. Here’s why.

Looking to buy a Greenville home? Click here to search all local homes on the MLS.

Looking to sell your Greenville home? Click here to use our home evaluation tool.

On my latest appearance on “Your Carolina With Jack & Megan,” I provided a quick mid-year market update by looking at a few key year-over-year statistics that I’d like to share with you.

The first is the inventory available for sale, which is down 3% compared to this time last year. At that point, we had low inventory as well, so this goes to show you how few homes are on the market. 

Next up was the number of homes sold year to date, which has increased 9% compared to last year. This increase, coupled with our low-inventory environment, means demand for homes is sky-high right now, and this demand is driving up prices. 

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If you’re looking at a house that just came on the market, be prepared to offer full price or more for it.

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If you’re a homeowner who’s trying to build equity in your home, this is good news. If you’re a buyer, however, the situation is tougher and affordability is becoming an issue. The average price for a Greenville home is currently $243,000. About four or five years ago, it was $186,000. 

As I mentioned on the show, my advice to those who’re looking at a house that just came on the market is to be prepared to offer full price or more for it. Odds are, there are many more people looking at that house. Also, remember that the highest offer isn’t always the one that gets the house. If you find yourself in a multiple offer situation, try including a letter to the seller in your offer that tells them a little bit about you and why you want the house. 

As always, if you have any questions about our Greenville market or you’re thinking of buying or selling a house, don’t hesitate to reach out to me. I’d be happy to help you. 

What Is Happening in Your Greenville Market?

How does our Greenville market today compare to last year's? I have the numbers to find out.

Looking to buy a Greenville home? Click here to search all local homes on the MLS.

Looking to sell your Greenville home? Click here to use our home evaluation tool.

Today I want to do a comparison between last year's market and this year's.

Last year at this time, we had 4,420 homes sold. This year, we’ve sold 4,303 homes, which is a decrease of only 3%. So, if you thought that last year was a crazy seller's market, then you should know that it still is. In fact, it is even more aggressive because of all the people out there looking to buy homes and not a lot of homes available.

Our median sale price difference is very telling of these current circumstances. The median sale price is calculated by taking all of the home prices, organizing them from most expensive to least expensive, and then finding the one in the middle. Last year, the median sale price was $182,000, while this year's median sale price is $199,900. This is a price increase of 10%.

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If you bought a home in the right area in Greenville last year, you should’ve seen a 10% increase in your home’s value by now.

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If you bought a home in the right area in Greenville last year, you should’ve seen a 10% increase in your home’s value by now. That’s a staggering number which is encouraging because if you bought a home last year and now need to move, there is a high chance that you could recoup some of your money spent.

Last year, there were 10,362 active listings on the market. Today there are 10,207 homes on the market. That is a difference of 1%.

We have low inventory and high demand in our market, which means home prices are increasing. For this reason, I am looking for people who are interested in selling their homes. If you want to reach out to me and discuss selling your home and making the move, please feel free to call or contact me via Facebook, Instagram, email, or on my website. I look forward to talking with you soon.