We are now over the halfway point of the year, with spring selling season behind us and summer well underway. Now is the time for a mid-year Greenville real estate market progress report!
Overall, statistics provided by the Greater Greenville Association of Realtors reveal a continuing upward trend in residential single family, condominium and townhouse prices and inventory in our area. Comparing January 1 – June 30, 2019 with the same period in 2018, the median price for homes listed and sold in MLS increased 5.1% to $216,900. During the same six-month period, the average sale price bumped up 3.5% to $252,286.
Interestingly, the average number of days on market before going under contract (a contract that closes, mind you) has ticked up slightly. On average, houses have been on the market 57 days before going under contract, which is 3.6% longer than occurred in the first six months of 2018. One factor to explain the increase is more inventory, with new construction helping to push inventory 26.3% higher than at this point last year.
In January, we learned that the Donaldson MLS area boasted the biggest increase in median sale price in 2018. The area continues to see significantly higher sales prices. However, mid-year stats reveal that home sales in West Greenville may take the 2019 crown for biggest increase, with 87.6% higher median sale price reported so far.
Running neck and neck in topmost median sale price are MLS areas 72, 76 and 31. Median home sales in the area around Alta Vista (area 72) top the chart at $378,500. Falling just behind at $370,000 are properties in Downtown Greenville (area 76 and the 2018 overall winner) and homes in Simpsonville/Eastside (area 31) neighborhoods with a $362,250 median sale price.
For people like me who really love numbers, you may be intrigued to know that, of the 6,817 homes sold through June, 187 homes were sold at the median price. A whopping 35 homes sold for more than $1 million during the first six months of the year. Cash sales account for 16.9% of all homes closed through June.
If you want to know more about the average days on market or the median sale price in your particular area or neighborhood, please reach out to me.
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