September 2023 Greenville, SC Real Estate Update:
Across the country, inventory levels are at the highest that they have been all year which is also seen locally here in Greenville, SC. Actively in the Greenville area there are 171 listings in the sub $300,000 tracker which you can find linked (Tracker). This is great news for buyers in that price point as you have more options now than you have had all year as well as other price points. In the chart shared within the Instagram Reel you see that around this time in 2018 and 2019 the amount of active listings is considerably higher than the amount of active listings today in 2023. The low inventory might be connected to the increase in interest rates which is leading to a higher number of homeowners opting to stay in their present homes.
Several individuals are currently trying to make predictions on what is going to happen in the next few months regarding housing prices, inventory, and interest rates. These predictions are often prefaced with crazy headlines that are more often confusing than helpful. An important tip to remember is that real estate is seasonal. Often in the summer the buyer and seller activity peaks and in the winter more people are likely to wait until next year creating less active inventory on the market. Now what does this mean for buyers and sellers? This is a personal question. Do you want or need to move? If the answer is no then do not feel the need to move. If the answer is yes, then find a property that is going to work best for you and let the Bird Dog Group help you navigate today’s market.
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