Comparing Our 2021 Market to 2020’s

Here’s a market update comparing the 2020 market to our 2021 market.

We are glad to be back shooting videos for you guys. Today we wanted to compare the 2020 and 2021 markets. We’ll be looking at the stats for January through October and seeing what the data means for you.

Through the first 10 months of 2020, we sold 13,373 homes. That’s a good year, however, we sold 14,603 in the same period this year. That's an increase of close to 1,300 units, and this has contributed to the feeling of having low inventory. As soon as a home is listed, it is sold, and often with multiple offers. 

With that kind of difference in activity, you would also expect a difference in sales price. In 2020, we had an average sales price of $274,950 in the Greenville market and homes sold for 98% of their listing price on average. For 2021, the average sales price is $333,362. That’s roughly a $60,000 difference, being driven in part by the fact that sellers are receiving 105.19% of their asking price on average. Even though we are entering winter, most homes are still being sold very quickly.

Speaking of quickly, homes spent an average of 57 days on the market in 2020. This year, the average days on market has been 31 days. You can see the difference in how much activity we’ve been having.

What does this all mean for you? It means our hot seller’s market is still going strong. Our inventory remains low, and houses are selling very quickly. If you are a Seller, feel confident that NOW is a good time to sell, even as we head into winter. 

If you are buying, you need to make sure you have all your ducks in a row. Get pre-approved, plan to remove as many contingencies as possible, and make sure you are ready to see homes when they come on the market. 

If you have any questions about listing or buying a home throughout this coming winter, call or email us at the Upstate Home Team. We’re always here to help.