Navigating the real estate market, researching statistics, and making an informed decision based upon those findings can offer a more refined decision in the Real Estate process, whether you are a home buyer, seller, or investor. At PRODUCER Realty, we rely heavily on relevant market data and trends in the real estate market when determining the value of a home. As Expert Advisors, we understand that the real estate market is always changing and we strive to stay up to date with the trends to better serve our client's needs.
The real estate market continues to thrive in the Greenville South Carolina area, with a 7.8% increase in homes sold from December 2015 to in December 2016. The Greenville Metro Statistical Area (MSA) has experienced steady population growth with 874,869 residents and 482,752 within the city limits. This is the largest growth in South Carolina and the 3rd largest growth in both North and South Carolina as of the year 2015. This growth has averaged 1.75% since 2010 due in part to the quality of life, including employment opportunities with large employers such as BMW, GE, Lockheed Martin, Greenville Hospital System, and many others. Median income per household is stable and rising at $49,746 per year, making the affordable housing market in this area even more attainable for home buyers and more attractive to investors.
For those selling in this market, the average seller obtained 97.5% of the listing price for properties sold in 2016, with a short 61 days average on the market. The average price for homes sold in 2016 rose to $212,556 from $192,962 in 2015, making the value of owning a home or investment property in the beautiful Upstate SC a wise and gainful decision.
The Greenville SC area has been heralded by national markets as one of the leading areas in the United States for growth and livability. The entire area is quickly becoming a hub for exploring the many opportunities for outdoor adventures, with a thriving Downtown offering a vibrant food culture, the arts, and much more. Also offering public school options that include Charter schools, the Greenville County School District presents a variety of school choices that cater to all students, also adding to the livability options for families. The real estate market outlook is positive and substantial growth is expected to continue for many years.
If you are interested in gaining more knowledge concerning the Greater Greenville SC area market, we are only a call away. Whether you are a home buyer, investor, or are interested in placing your current property on the market, our team can not only inform you, but also make your transaction a profitable one. Feel free to contact our team at 864-438-5050 or visit us at www.GreenvilleRealEstateHub.com.