Total Sales: A Dynamic Market
The Greenville real estate market in 2024 was a whirlwind of surprises! Despite fluctuating interest rates and a decrease in buyer demand, the market defied expectations. Sales skyrocketed with a 7.5% increase in total units sold, reaching an impressive 16,460 units. The financial landscape also saw an 11.1% surge, totaling a staggering $6,215,740,693.
Median Sale Price: A New High
But hold on, the excitement doesn’t stop there! The median sale price in the Upstate hit a remarkable $314,900, a 1.3% leap from the previous year. And the cherry on top? Sellers are still cashing in on a wave of positive equity, making it a win-win situation!
Inventory Levels: More Options
Speaking of deals, buyers in the Upstate had a field day in 2024. Why? Increased inventory! A whopping 28.6% surge from 2023 turned the market into a playground of options and substitutes.
Average Days on Market: Still Going Up
Time plays a role in this real estate saga. After the average Days on Market in 2023 had soared by 70.4% compared to the previous year, settling at 46 days on the market, 2024 saw only a 6.5% increase, making the average 49 Days on Market.
In Conclusion: Surprises Amidst the Numbers
In 2024, the Greenville real estate market experienced an increase in total units sold and higher sales volume than 2023, despite rising interest rates and fewer buyers. The median price rose, and inventory levels increased significantly. For buyers, there was less competition and more options due to increased inventory, while sellers needed to stand out with a strong marketing plan to get their home notice.
Tips for Buyers & Sellers: Navigating the Landscape in 2025
Buyers currently have a great opportunity to enter the market due to less competition and increased inventory. Sellers, on the other hand, need to implement a strong marketing plan to differentiate their property in the competitive market, as simply listing it is no longer sufficient. Broad exposure is essential, and with interest rates expected to decline slightly throughout the year, timing is critical. Potential buyers who are ready should act now instead of waiting for lower rates, as this may lead to increased competition.
Connect with Us: Your Real Estate Experts
Got burning real estate questions or just want to chat? Drop us a line at office@carolinareach.com or ring us up at (864) 250-4440.
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Meet Jeremy Russell:
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.