🚨 Big Changes in the Greenville, NC Housing Market! November 2024 Update 🏡

As we enter the final months of 2024, Greenville, NC's housing market is experiencing notable shifts that both buyers and sellers should keep an eye on. This month’s market update brings you key trends and data to help make informed real estate decisions.

1. Current Market Overview

Greenville's housing market is tightening, with inventory down to 2.85 months, compared to 4.5 months in September 2024. This change keeps the market in seller's territory, making it competitive but still promising for buyers who are ready to act quickly.

2. Inventory and Sales Trends

• Active Listings: October 2024 saw 227 homes on the market—a slight decrease from September's 247, yet a growth compared to October 2023’s 168 listings.
• Pending Sales: With 84 homes under contract, we’re seeing a 6.3% increase in pending sales over last year.
• Sold Homes: October recorded 109 homes sold, a significant rise from last month’s 80 sales and a 43.4% increase year-over-year.

3. Pricing Dynamics

• Median List Price: October’s median list price was $269,500, a small decrease from September.
• Median Sale Price: Up 10% year-over-year, the median sale price reached $260,000 in October.

4. Days on Market

Average days on market have increased to 58, compared to 28 days in October 2023. This longer timeframe could signal more opportunities for buyer negotiation in certain segments.

5. Housing Types and Market Share

• Single-Family Homes: Comprising 60.71% of the market, single-family homes remain the top choice.
• Townhouses: Making up 33.57% of the market.
• Condos: Only 5.71% of listings, reflecting a more limited market for condos in Greenville.

6. Price Per Square Foot

• New Homes: Average price per square foot for new homes is $160.
• Pre-Owned Homes: Pre-owned homes are at $147 per square foot, offering more options for budget-conscious buyers.

7. Market Insights and Predictions

With an appreciation rate of 2.4% year-over-year, Greenville’s housing market shows strong investment potential. The current market favors sellers, but signs of cooling, such as increased days on market, could create favorable conditions for buyers soon.

8. Conclusion

Whether you're buying or selling home in Greenville, North carolina the local market dynamics present opportunities worth exploring. For a personalized approach to navigating this market, reach out to real estate professionals Al and Victoria Pinder, who bring expertise and guidance to every transaction.

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