Greenville County Homes Sold for Lower Prices in Recent Months
Newly Released Data Reveals Decrease in Median Home Prices
Greenville County, known for its bustling real estate market, witnessed a decline in home prices in April, according to the latest data from Realtor.com. Potential buyers and sellers in the area were surprised to find that houses sold for lower prices compared to the previous month.
Median Home Price in April
The analysis of data from Realtor.com shows that the median home in Greenville County sold for $320,950 in April. This figure reflects a 2.7% decrease from the median sales price of $330,000 in March. However, when compared to April 2023, there was a 2.1% increase in the median home sales price.
Single-Family Homes vs. Condos and Townhomes
When looking specifically at single-family homes, the median selling price in April was $325,000, down 3% from $335,000 in March. On the other hand, condominiums and townhomes saw a significant decrease of 25.3% in sales price, with a median of $210,000 in April.
Market Trends and Comparisons
Despite the decline in prices for some property types, Greenville County still experienced positive growth in certain areas. The sales price of single-family homes increased by 2.3% since April 2023, while condominiums and townhomes saw a 2.9% rise in sales price compared to the previous year.
Recorded Sales and Total Value
In April, the number of recorded sales in Greenville County decreased by 19.3% compared to the same period last year. However, all residential home sales combined totaled to $310.7 million, indicating ongoing activity in the housing market.
Statewide Comparison
Looking at the broader real estate landscape in South Carolina, the median home price in April was $316,323, showing a slight increase from March. The total value of recorded residential home sales in the state reached $3.8 billion, marking a significant growth of 40.3% from the previous month.
Median Sales Prices Across the State
Across South Carolina, the median sales price of single-family homes increased by 3.4% since April 2023, while condominiums and townhomes experienced a 4.2% rise in sales price compared to the same period last year. The data suggests varying trends in different housing segments.
Understanding Median Home Prices
It’s important to note that the median home sales price represents the midpoint of all houses or units sold during a specific period. This metric provides a more accurate reflection of the market compared to the average sales price, which can be skewed by outliers.
