Greenville SC Real Estate Statistics

I have taken a significant amount of time compiling sales data from the past 5 years.  I have created the charts below by taking data from the Greater Greenville SC MLS.  This data represents the single-family homes and condos sold from 1/1/03 through 6/30/08.  I will continue to update this at the end of each quarter, so please feel free to bookmark this page, and check back often.

Greenville SC Number of Homes Sold

The first chart depicts single-family homes and condos sold by calendar quarter.  I have separated new construction and resale homes.  The number of existing single-family homes and condos sold in the 2nd quarter of 2008 has declined from previous years.  This is the one area of the Greenville real estate market which is seeing a decline.  Buyers in many markets are hesitant or on the fence about purchasing a home due to constant media about a declining real estate market.  Real estate markets are local, and it is important to consider the fact that prices in the Greater Greenville area are still rising (see next chart), therefore the amount a purchaser can afford now will change in the months and years to come.  Interests rates are also fluctuating, and the possibility of a higher interest rate when the purchaser is ready to buy, could have a drastic result on how much home they are able to afford.  According to mortgage-x.com, the average interest rate for a 30 year fixed mortgage has increased by .88% in the last 36 months, while the average sale price of an existing home in Greater Greenville has increased by $10,889 (6.7%) over the same time period.  The basic result of these changes is an increase in monthly mortgage payment (P&I) of $159.73, or a decline in the amount of home the purchaser can afford by $26,000 based on a 30 year fixed rate of 6%.

Greenville SC Average Sale Price

The next chart depicts the average sales price of single-family homes and condos in Greater Greenville, and resale homes have also been separated from new construction.  You will notice that existing home prices have been steadily increasing over the past 5 years, and even the 2nd quarter of 2008 saw an increase in price of 2.23% compared to 2nd quarter of 2007 for existing homes.  Overall, the sales price of an exisiting single-family home or condo has increased by an average of 3.14% per year since January 2003.  This stable appreciation is another reason why the Greenville market continues to be a sound investment while others markets see declines in price.


Greenville SC Average Days on Market

This chart depicts the time it takes to sell an existing single-family home in the Greater Greenville SC real estate market.  This duration is based on the time from the day the listing is entered into the Greenville SC MLS, until the day a contract for sale is negotiated and signed.  As you will see, the average time it takes to sell a home in Greater Greenville has decreased by an average of 3.77% per year since January 2003.

View this and more statistics on my website: GreenvilleMOVES.com!

Cameron J. Keegan - Realtor
Prudential C. Dan Joyner Realtors