2023 Rollercoaster Real Estate Market in Greenville
Total Sales: A Rollercoaster of Trends
So, let’s talk total sales – the real estate rollercoaster that was 2023, according to the insights from RE/MAX REACH Broker/Owner, Jeremy Russell. Interest rates soaring, sale prices reaching new heights, fewer buyers taking the plunge – it all culminated in a 7.8% dip in total units sold compared to the bustling 2022. Numbers, you ask? That’s 14,803 units in 2023, down from 16,057 in the previous year. And the financial landscape? Down 4.1%, translating to $5,594,601,185 in 2023 from a robust $5,833,606,881 in 2022.
Median Sale Price: Where Numbers Tell a Story
Now, let’s shift our focus to the median sale price. In the Upstate, 2023 brought us a headline-worthy $310,900 – a 2.9% jump from the previous year’s $302,210. What’s the twist? Sellers are still riding the wave of positive equity when sealing the deal!
Inventory Levels: Choices Galore
Speaking of deals, buyers in the Upstate had a field day in 2023. Why? Increased inventory! A whopping 28.9% surge from 2022 turned the market into a playground of options and substitutes.
Average Days on Market: The Clock is Ticking
But, time plays a role in this real estate saga. The average Days on Market in 2023? Brace yourself – it soared by 70.4% compared to the previous year, settling at 46 days on the market. Hold on, though – those percentages decided to take a breather as we waltzed into the 4th Quarter.
In Conclusion: Surprises Amidst the Numbers
In conclusion, 2023 might have seemed like a bit of a rollercoaster ride, but here’s the plot twist – total units sold were higher than in 2019 and 2018. Thanks to the rising values, the volume sold even outpaced 2021! Now, as we step into 2024, experts hint at interest rates taking a dip. Lower rates might mean more units sold, but brace for increased prices and buyer competition.
Tips for Buyers and Sellers: Navigating the Current Landscape
For buyers eyeing the market, now might be the sweet spot. Lower competition and more options! And for sellers, it’s a game of standing out – no more just sticking a sign in the yard. A robust Marketing Plan is the key to getting your home noticed in a sea of listings. With most buyers driven by life-changing events, national and international exposure is vital.
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Meet Jeremy Russell: A Pioneer in Real Estate Excellence
Jeremy Russell isn’t just a real estate agent; he’s a seasoned expert who has weathered the storms and navigated the peaks of the real estate landscape. Licensed in 2007, Jeremy dove headfirst into the industry during a challenging market, demonstrating resilience and adaptability from the get-go.
Early Achievements and Team Leadership:
In the early stages of his career, Jeremy achieved multiple RE/MAX award levels, showcasing his prowess in a competitive field. Recognizing the need to elevate his impact, he took the bold step of forming his team, Jeremy Russell & Associates. Within a remarkably short time, this team soared to the ranks of the top 3% within RE/MAX – a testament to Jeremy’s leadership and strategic vision.
Continuous Learning and Accreditations:
Jeremy’s commitment to excellence goes beyond accolades. Over the years, he has actively pursued knowledge and expertise, earning multiple accreditations along the way. As a Certified Luxury Home Marketing Specialist, Accredited Staging Professional, and Accredited Buyer’s Representative, Jeremy’s skill set reflects a dedication to staying at the forefront of industry trends and client needs.
Expanding Horizons with RE/MAX REACH:
In 2018, driven by a vision to scale his business, Jeremy embarked on a new venture – the establishment of RE/MAX REACH in Mauldin, SC. With over 16 years of hands-on experience, Jeremy’s leadership has steered RE/MAX REACH towards remarkable success and growth.
A Visionary Expansion:
November 2021 marked another milestone in Jeremy’s journey. He opened a second RE/MAX REACH office in Boiling Springs, SC, expanding his footprint and reinforcing his commitment to serving the Upstate of SC. This strategic move allows Jeremy and his team to extend their reach further, providing unparalleled real estate expertise to an even broader community.
Jeremy Russell’s story is not just one of success but a narrative of determination, innovation, and a relentless pursuit of excellence in the dynamic world of real estate. With a track record that speaks volumes, Jeremy stands as a credible and trusted professional, ready to lead clients through the intricacies of the Upstate’s real estate landscape.