If you listen to news reports about the housing market, then you probably know that it has been down in much of the country over the last few years. The Greenville market has not suffered as much as most, but the home prices did decline some. A lot of home owners have been waiting for the market to start improving before listing their home. Well the good news is that the average home price has finally increased to pre-recession values here in the Greenville housing market.
Home inventory is a great way to gauge how well the market is doing. It all goes back to supply and demand when it comes to home values. When home listings inventory is higher that means the supply is high and the demand is low. So it is easier to sell your home when you have a lower supply of homes listed when the demand remains constant. According to Realtor.com the home inventory is down 9.12% since January 2012, compared to January 2013.
Also according to Zillow, home values in Greenville area are up 3.7% since last year at the same time. Values are also up in the surrounding towns Mauldin, Piedmont, Taylors, Simpsonville and Greer. This is great news for people that would like to sell their home.
|Greenville, SC Average Home Prices|
If you look at the data in the chart, you will notice that right now is the best time to sell your home in since November 2006. The chart above indicates the average sale prices of Greenville homes are the highest they have been since November 2006.
November 2006 the average sale price of homes was $119,000 according to Zillow, but in December 2012 the average home price is $119,700. This is the highest average home price that Greenville has ever had!
On the chart you will notice that January, 2013 is lower, but also notice that January of every year is lower. Prices seem to always increase going into February ~ March time frame.
Trying to time the Real Estate market is difficult, but by analyzing the data, you can see that this year is setting up to be a great one for Greenville.
To get the most value out of selling your home you need to work with an experienced agent that can advise you on the best way to market your home in the Greenville Real Estate market. I can give you advice on curb appeal, exterior maintenance, staging and more.