Hi everyone! Wanted to give you a look at my 2019 Real Estate Forecast for the Greenville SC area! But first let’s take a look at 2018. For single family homes $100,000 and up in Greenville County:
2018 vs 2017
- Total number of units up 5%
- Total sales dollars up 10%
- Average price of a home up 4%
- Average days on the market down one day to 47
- Average cost of a home in Greenville County for 2018: $272,543
Folks, the closer you get to Downtown Greenville the more these numbers go up. If you go out of Greenville County you will find the numbers go down further. So what am I seeing for 2019?
Interest Rates
We all have been watching the rise in interest rates which seems to be a bit alarming but in reality we are still historically low compared to years past. So the good news is you can still find a relatively good rate and purchase a great home in the Greenville SC area.
Inventory
If you can find it….inventories will continue to remain low vs. the demand. There are a lot of buyers in the market and I am still seeing good homes priced well go under contract within hours with multiple offers. These home sell at list or above. If a home is sitting 10 or more days then it’s most likely overpriced. I saw a lot of this last year and this will continue. The reason is sellers are many times testing the market at higher prices because they know just how good a market this is.
Forecast
I predict sales to stay a bit flat this year. This is just my gut feeling and is based on inquires from January till now. I doubt that prices will increase at 4% again but they may if the downtown Greenville market continues to pull pricing; condos, townhomes, etc. At any rate the time to buy is still now as I’ve always said.
Just remember to get an Buyer’s Agent on your side! Call me at 864-335-8490. I’ve been here 30+ years and I’ll be glad to help!
Real Estate Sales Update for Greenville SC Year to Date