Our June Upstate Market Update

Here are the latest numbers from our Upstate real estate market.

Today I am discussing what is going on in our local real estate scene. I am sharing some numbers from January through May of 2021 versus the same time in 2020 and these numbers are from our Greater Greenville MLS. 

In residential real estate, over 6,600 units have sold this year compared to just under 5,600 units sold by this time last year, so we have seen an increase of about 1,050 or 19%. The increase in sales has also definitely impacted our prices, and our average sale price so far in 2021 is a little over $306,000, compared to right at $258,000 in 2020 in the same time frame, a rise of 18% or roughly $47,000. Even though the perception is that our housing inventory has been very low, we have actually had a good bit of inventory this year. The heightened sense of inventory shortage is largely because so many people have been moving into the Upstate area. This increase in new residents is affecting our sales numbers, home values, and inventory levels. 

The moving company United Van Lines said that last year South Carolina was the second most popular state for people to move into, with 64% moving in and only 36% moving out. We expect that trend to continue for at least the rest of this year. 

If you are considering buying or selling and are curious how to navigate our current real estate market, let us help you. Contact us via phone or email anytime if you have questions regarding your real estate needs. We would love to speak with you.