Greenville SC Home Market Update
2016 Year End Statistics for Greater Greenville Market
The resale inventory shortage continues, and it has given us an average YTD sale price increase of 3.9% and a Median sale price increase of 5.9% over 2015 … Most of the increase has come in the lower price resale inventories (Below $500k)
• $100,000 - $199,999 has a 2.3 month's supply of homes on the market
• $200,000 - $299,999 has a 3.6 month supply
• $300,000 - $399,999 has a 5.6 month supply
• $400,000 - $499,000 has a 7.4 month supply
(Using past 90 day factors) From $500k and above, the month's supply (Absorption rate) increases substantially with each $100k of sale price. New construction prices are also creeping up ... And as you can tell from watching the market, we have had several new builders enter the market over the past few months, and I'm sure there will be more to come. This will hopefully give you a better selection of homes and locations. As resale inventories stay tight, buyers should consider new construction. Contact the Chet & Beth Smith Group to position your home for resale or to buy the best home for your money.