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Cameron Keegan - Greenville SC Realtor

Greater Greenville (SC) Market Statistics

Greenville SC Real Estate Market
I have found that there is a significant lack of reliable information and statistics on the internet pertaining specifically to the Greater Greenville, SC real estate market. 

Over the past few months, we have heard terrible things on the national news regarding the real estate market.  I find this to be irresponsible on their part, given the fact that many markets around the country are still doing very well.  In fact, according to the OFHEO's house price index, 60% of the 291 metro areas indexed, saw an increase in average sale price in 4th quarter 2007 compared to 4th quarter 2006.  For the 40% of markets which declined in price in the 4th quarter, they are still averaging a 49.33% increase since 2002! 

As I hope the information below will show, the Greenville, SC real estate market is continuing to thrive.  I feel that this is due to reasonable home prices, low real estate property taxes, a low overall cost-of-living, and Greenville being just a great place to live!

How about some quick facts before we get into the real estate statistics?
  • In March of 2008, the median existing single-family sales price in Greater Greenville was 30.2% lower than the average sales price of homes in the United States.  The US average was $198,200, while the Greenville average was $138,500.
  • As of right now (4/23/08), the average price for regular unleaded gasoline in the US is $3.556/gallon, while the average in South Carolina is currently $3.410/gallon, a difference of about 4.3%.  Currently, gas prices in Greenville, SC range from $3.27 to $3.39 per gallon.
  • Cost-of-living in the following cities compared to Greenville, SC:

 

NYC, NY

LA, CA

Chicago, IL

Pittsburgh, PA

Dallas, TX

Groceries

+39.98%

+24.52%

+13.14%

+1.63%

+4.31%

Housing

+79.41%

+69.97%

+39.86%

+15.59%

-2.10%

Utilities

+41.85%

+12.72%

+21.71%

+18.66%

+23.09%

Transportation

+19.23%

+14.66%

+14.25%

+3.29%

+9.53%

Healthcare

+20.44%

+7.84%

+5.97%

-16.45%

-1.87%

*Based on data from ACCRA, Inc.

Greenville SC Real Estate Statistics
I have taken a significant amount of time compiling sales data from the past 5 years.  I have created the charts below by taking data from the Greater Greenville SC MLS.  This data represents the single-family homes and condos sold from 1/1/03 through 3/31/08.  I will continue to update this at the end of each quarter, so please feel free to bookmark this page, and check back often.

The first chart depicts single-family homes and condos sold by calendar quarter.  I have separated new construction and resale homes.  The number of existing single-family homes and condos sold in the 1st quarter of 2008 still exceed the 1st quarter average number homes sold over the past 5 years.  In fact, over the past 5 years, the number of homes sold in 1st quarter have increased by an average of almost 7% per year.



The next chart depicts the average sales price of single-family homes and condos in Greater Greenville, and resale homes have also been separated from new construction.  You will notice that existing home prices have been steadily increasing over the past 5 years, and even the 1st quarter of 2008 saw an increase in price of 6.44% compared to 1st quarter of 2007 for existing homes.  Overall, the sales price of an exisiting single-family home or condo has increased by an average of 2.86% per year since January 2003.  This stable appreciation is another reason why the Greenville market continues to thrive while other markets may be falling.



The final chart depicts the time it takes to sell an existing single-family home in the Greater Greenville SC real estate market.  This duration is based on the time from the day the listing is entered into the MLS, until the day a contract for sale is negotiated and signed.  As you will see, the average time it takes to sell a home in Greater Greenville has decreased by an average of 3.58% per year since 2003.



I hope this information helps in your decision to either buy or sell a home in the Greenville area.  It is my firm belief that a healthy market is one where prices continue to rise, and the time it takes to sell a home continues to fall. 

If you have any questions, please feel free to contact me.
Also, visit my website for even more information about Greenville SC Real Estate.

About Orchard Farms

Orchard Farms is a community near the corner of Roper Mountain and Batesville roads in Simpsonville, SC. This subdivision consists of approximately 425 single-family homes built primarily between 1996 and 2001.

The Orchard Farms subdivision features great amenities such as sidewalks, clubhouse, swimming pool, athletics field, playground, and tennis courts.

If you would like more information about the Orchard Farms community, please feel free to contact me.

______________________________________
Cameron J. Keegan - Realtor, ASR, ABR
Prudential C. Dan Joyner Realtors
Simpsonville SC Real Estate Specialist

* Living and specializing in Simpsonville, SC real estate, with 49% of my sales occuring in the 29681 zip code! *

Forest Lake Market Report (Condo/Townhome)

Forest Lake Market Report (Condo/Townhome)

2003

2004

2005

2006

2007

# of Homes Sold

7

3

11

11

6

Average Sales Price

$120,250

$112,633

$110,027

$126,827

$123,483

Average Days on Market

121.0

73.7

101.3

42.9

62.2


* Based on information from the Multiple Listing Service of Greenville, South Carolina, Inc. for the period 1/1/2003 through 12/31/2007
* This information is deemed reliable, but not guaranteed.

________________________________
Cameron J. Keegan - Realtor, ASR, ABR
Prudential C. Dan Joyner Realtors
Simpsonville SC Real Estate Specialist


* Living and specializing in Simpsonville Real Estate, with 49% of my sales occuring in the 29681 zip code *

Forest Lake Market Report (Single-Family)

Forest Lake Market Report (Single-Family)

2003

2004

2005

2006

2007

# of Homes Sold

12

4

3

5

2

Average Sales Price

$164,296

$138,675

$186,667

$171,720

$202,000

Average Days on Market

72.3

64.0

47.0

105.4

142.0


* Based on information from the Multiple Listing Service of Greenville, South Carolina, Inc. for the period 1/1/2003 through 12/31/2007
* This information is deemed reliable, but not guaranteed.

________________________________
Cameron J. Keegan - Realtor, ASR, ABR
Prudential C. Dan Joyner Realtors
Simpsonville SC Real Estate Specialist


* Living and specializing in Simpsonville Real Estate, with 49% of my sales occuring in the 29681 zip code *

Eastridge Market Report

Eastridge Market Report

2003

2004

2005

2006

2007

# of Homes Sold

4

4

3

3

5

Average Sales Price

$148,963

$146,963

$150,633

$167,300

$164,780

Average Days on Market

64.3

37.5

63.7

101.3

56.6


* Data taken from Greater Greenville MLS 1/1/2003 - 12/31/2007
* This information is deemed reliable, but not guaranteed.

________________________________
Cameron J. Keegan - Realtor, ASR, ABR
Prudential C. Dan Joyner Realtors
Simpsonville SC Real Estate Specialist


* Living and specializing in Simpsonville Real Estate, with 49% of my sales occuring in the 29681 zip code *