Real estate figures for August show a continual growth in the housing market. Existing home sales in the Greenville metro market rose 10 percent in August from year-ago numbers and are up 12.7 percent for the year, according to Greater Greenville MLS statistics. Across the nation, sales in August climbed 7.8 percent to a seasonally adjusted annual rate of 4.82 million, the National Association of Realtors said Wednesday
In August the median sales price for a home nationally was $187,400. In Greenville the median home sales price in August was $155,750. This represents an increase of 15%, or $20,360, compared to the prior quarter and an increase of 19.8% compared to the prior year. Home sales prices in Greenville have appreciated 10.9% over the last 5 years. This indicates that Greenville is still a great place to buy a house and, while the market is improving and prices are continuing to climb, there are still great deals to be found!
One interesting phenomena occurring in Greenville is a shrinking of home inventory. This past month, the number of homes for sale fell 11.4 percent, from 6,343 residences to 5,617, according to Greenville MLS figures. Many potential buyers are going into short-term rentals until they find the house they are looking for. Greenville has fewer and fewer lots available for new homes and existing homes are getting harder to find in some areas like in downtown Greenville. If the trend continues this could become a 'seller's market' once again in Greenville.
For those who are looking for lower prices, there are still approximately 250 houses that are being sold as short-sales or foreclosures in Greenville County. At New City, we can help you find those bank owned foreclosure houses that are being sold as distressed properties.
At New City Real Estate we can help you find the home you are looking for! If you are looking to rent or if you need to rent your house, New City is also beginning a Property Management division. For all your real estate needs, please give us a call!