Greenville County’s Home Prices Rose in June
A Look at the Rising Market
In an impressive turn of events, the median list price for homes in Greenville County rose in June to $399,999, an increase of 2.7% from the previous month’s median of $389,500. This rise in home prices extends the year-over-year trend, showing a market robustness of 4%, with the June 2023 median at $384,725.
Change in Price Per Square Foot
The data also revealed that the price per square foot in Greenville County for homes listed for sale rose by 6.1% from last year. The median home in the county now boasts 2,092 square feet at a rate of $185 per square foot. This rise is indicative of a sturdy and buoyant housing market in the area.
Quick Moving Market
Aside from the increase in prices, there has also been a notable pace in the market activity. Greenville County homes stayed on the market for a median length of 37 days. This swiftness is compared favorably to the national median, which stood at 45 days on the market in June.
New Listings on the Rise
New listings were significantly up in Greenville County. About 856 homes were freshly listed on the market in June, showing a 9.7% surge from 780 in June 2023. While this paints a dynamic market picture, it’s worth noting these numbers pertain only to single-family homes, condominiums, or townhomes that are currently listed. Many new constructions and other types of listings might potentially be sidelined.
Comparison with State and National Medians
When compared to the broader Greenville-Anderson metro area, the median home price rose slightly to $379,900. For a more regional perspective, South Carolina’s median list price stood at $359,990, a minor increase from the preceding month of May.
The national median home price in the United States clocked in at $445,000, showing a minor increase as well. This equated to a median size of 1,868 square feet with a cost of $233 per square foot.
Relevance of the Median Home List Price
It’s vital to note that the median home list price gives a more reliable market overview than the average list price. The median eliminates the potential distortion caused by extreme low or high prices, thus providing a better snapshot of the market’s current standing.
Final Thoughts
In summary, Greenville County has seen a solid rise in median home prices in June, which signifies a healthy and active housing market. The upward trend in new listings further amplifies this growth, promising a potential boost for market activity in the coming months.
Remember, it’s crucial to monitor local listings and community data to stay abreast of recent trends and changes. This way, whether you’re a buyer or a seller, you can always stay on top of the market and make informed decisions.
