Early April Market Condition Report
I wanted to report on some current market statistics.
First, for Simpsonville Real Estate as a whole:
We have just at 750 active listings (residential - single family home) which translates to over six months worth of inventory. That is, in the last six months, only 555 homes have sold in Simpsonville. The market, while hot in some pockets, is not what it was recently.
Greenville stats are similar: 1,010 sold homes in the past six months. Current inventory is at 1,199 homes.
Mauldin Real Estate: 96 sold in six months, 116 currently active.
What do these stats mean for you?
If you’re a seller, you need to understand that we have six months worth of inventory to sell - it is somewhat of a buyer’s market. Some neighborhoods have as much as one to two years worth of active listings. Touch base with your agent and find out what pricing strategies you should be employing.
If you’re a buyer, have your agent do a CMA on the homes you are interested in and find out what typical offer-to-list-price values have been recently accepted. NEVER look back more than six months unless there is no activity AT ALL - then use one year. Appraisals use six months, so shoot for six months.
Thanks for reading.