Market Update: July 2016
The South Carolina Realtors Association released its June housing market reports on Wednesday of this week. Find out the latest in buying and selling trends in the real estate market for Greenville and the surrounding areas.
June data from South Carolina Realtors Association showed an increase in sales and prices for most areas, including the Greenville real estate market, and a decrease in the number of homes available and the time homes spent on the market.
According to a release from RealEstateRama, “Homes are selling quickly with most on the market for only 96 days. Month’s supply of inventory was down twelve percent to almost six months, indicating that demand increased relative to supply.”
These numbers follow recent trends. In May this year, the number of homes on the market statewide with a price tag of $200,000 or less fell to 16,654, down from 19,884 in the same month last year. Likewise, the average number of days on the market fell to 99, down from 110 in May 2015.
Typically, the number of homes available has an impact on sales. Why? Buyers have to act quickly. And with rumors of an interest rate increase this year, now is the time to take advantage of the current rate in the Greenville area real estate market and surrounding areas.
That’s why it’s important to find a top realtor—because he or she can help you act fast and provide advice to help you secure your first choice in real estate. The numbers in the Greenville area real estate market are showing that if you don’t move fast on a home, you’ll likely miss out.
As a realtor with Keller Williams, I can help you navigate this competitive market. Whether you’re looking to buy or sell a home in Greenville or Simpsonville, please be in touch. I’ll be happy to help.
Sources: http://southcarolina.realestaterama.com/2016/07/13/south-carolina-realtors-release-june-market-numbers-ID0295.html, http://www.independentmail.com/news/local/low-inventory-fuels-steady-sales-in-moderate-priced-homes-in-sc-3579d6a3-8f60-44bb-e053-0100007f8ab8-383464971.html