July 2023 Greenville, SC Real Estate Update
According to the latest Inman news article, there has been a significant increase in purchase loan applications! These applications are for individuals who are looking to take out a mortgage for a home purchase. The number of applications submitted has reached the highest point since May 2023. This indicates that despite the increase in interest rates, there is still a strong desire to purchase homes from consumers nationwide.
At the Bird Dog Group, we track the sub $300K home market, which monitors the availability of homes in the Greenville, SC area Specifically, our tracker keeps tabs on properties that are listed on the market with 2 or more bedrooms for $300,000 or below. Presently, our home tracker displays a total of 135 listings, which is a higher count compared to the previous months. This increase in inventory offers a wider range of choices for homes in the Greenville, SC market.
However, we anticipate that the number of listings on the tracker will not continue to rise in the coming months due to the high demand in the local market. In light of this, we strongly advise prospective buyers seeking homes within the $300,000 or below price range to initiate the pre-approval process and monitor the data closely if you’re considering buying a home in the next 2 years. For those who are considering selling their property, it is crucial to price it in accordance with the current market conditions to ensure a swift sale.
Setting an appropriate price for your property, in line with market conditions, significantly enhances the likelihood of attracting interested buyers and expediting the selling process. This approach helps to avoid the property remaining on the market for an extended period of time. Understanding the market is crucial for effectively navigating and leveraging its dynamics to your advantage. Continue to follow the Bird Dog Group for trends and market news! @birddoggroup on Instagram, tiktok, and youtube!