Greenville, South Carolina is progressive and offers a broad-based economy, but home sales have slumped in all price ranges due to economic conditions, but rising interest rates might spark more buyers to make a commitment.
"Greenville is in the gorgeous upstate part of South Carolina, with any location a short drive to the scenic Blue Ridge foothills," says Realtor Carrie Fadler. "This progressive area is one of the fastest growing regions of the country, yet it is still comfortably paced. Its broad-based economy includes textiles, manufacturing, banking and many international businesses. It offers a wide range of recreation from lakes and rivers, golf courses, and sports to concert halls and theatres. Housing choices are abundant and reasonable in a wide range of prices and styles."
Fadler explains, "It is definitely a buyer's market as we are seeing inventory in all prices grow, homes staying on the market longer and more price reductions. Despite the buyer's market, it's not a market where buyers can "steal" a home with a ridiculous offer. Sales prices are relatively stable, which means that sellers are mostly realistic about housing values. The housing market does continue to be strong, driven by low interest rates. And even though interest rates have risen, in perspective, the current interest rates are still very good. Just a couple of years ago at this time, buyers would have jumped at interest rates under 7 percent. And with interest rates still low (but rising), now is the time to buy or sell!"
Says Realtor Eddy Kicker, "It's a beautiful area with all types of homes from starter to million dollar-plus properties. As of July 27, 2003 there were 4,558 detached single family homes for sale in the Greenville MLS system. The average price of these homes is $189,711. There have been 3,433 homes sold so far in 2003 for an average sales price of $159,570. Average days on market of 134."
He advises, "It continues to be a buyer's market with excess inventory in all price classes. Interest rates have risen but remain at extremely attractive levels."
Click here to view current Market Conditions in your location.
Published: August 7, 2003
Use of this article without permission is a violation of federal copyright laws.
