August 2019 Greenville Real Estate Market Update
There are multiple opposing factors and trends that are affecting the market in Greenville. The interest rate reduction from the beginning of the summer has not spiked sales the way one would have thought that it might have. Pending sales for the month are down by 55% and the number of days on market is up to 69 days.
The number of new listings has increased and closed sales have increased from last year at this time. Inventory is staying under a 5 month supply, which is still positive news for sellers. The median price is up almost 9%. There seems to be a demand for housing, but rising prices are preventing more people from buying.
Here is a brief summary of the numbers from the August Greenville Market and what they mean for anyone thinking of buying or selling.
New Listings - 1864 (up 8.7% from 8/18)
Rending Sales - 521 (down 55.0 % from 8/18)
Closed Sales - 1505 (up 10.7% from 8/18)
Days On Market - 69 (6.5% from 8/18)
Median Sales Price - $220,000 (up 8.9%% from 8/18)
Percent of Asking Price Received 98.1% (0% from 8/18)
Months Supply of Inventory - 4.7 (up 34.3 % 8/18)
The number of new listings coming on to the market is 8.7% higher than last August but has slowed from last month. Pending sales continue to trend down having decreased 55% to 521 homes. Home prices have gone up 8.9% from last year at this same time. The number of closed sales this August compared to last August has gone up 10.7% and the supply of inventory has gone up to 4.7 months. For more information on key indicators of a healthy housing market, click here.
If you are looking to sell your home, call Jeff Cook Real Estate because we are experts at pricing your home correctly in this type of market. If you are a buyer, you need one of our experienced agents on your side to help you navigate the market, call us at 855-Hey-Jeff.
Stay up-to-date and check out the most current Greenville market updates!