Greenville Market Recap

Posted by Jonathan Kostyra on Friday, December 31st, 2010 at 1:40pm.

Special Thanks:

To all my past clients,

 

As 2010 comes to a close and as we get ready to celebrate a new year, I would like to take a moment to personally thank each of you for choosing to do business with me as you have bought and sold real estate. I have had the pleasure of working with some awesome clients and I really can’t thank each of you enough. I hope that each of you, your families, and loved ones all experience a wonderful year in 2011. May the coming year bring you peace, joy, and prosperity!

Market Recap:

I would also like to take a moment to recap some key figures as we finish the year and head into next year. This year within the Greater Greenville MLS, there were 6,764 total residential units sold, compared to a total of 7,194 units last year in 2009. Though the total number of units sold has fallen marginally this year, the average sold price this year has increased to $166,651 from $159,484 last year. The average time on the market in 2009 was 100 days on the market. This year that figure has ticked up a mere 3 days to an average of 103 days on the market in 2010. So on average, it is taking about 103 days to sell a home here in Greenville.

 

What does all this data tell us? Basically, that sold prices have risen on average by about 7 thousand dollars this year over last year, though this year we had a small drop in the number of sold units when compared to last year. Overall, this year has not been bad and we are looking forward to an even stronger year next year.

Future Trends:

What do we see happening in 2011 in terms of real estate and the local Greenville community? First, we expect to have a strong spring and summer. Why? Interest rates are still low, very low in historical terms. Second, there seem to be signs the economy as a whole is stabilizing. Lastly, Greenville still is a great place to live, work, and enjoy life. Retirees, families, and even businesses are still moving here for the benefits of the area and the low cost of living.

 

Do we have any negative news to report? Unfortunately, yes. Mortgage interest rates are trending higher towards 5% for 30 year fixed rate mortgages from a historic low of 4%. Granted, from a historical view, these rates are still very low. So if you are thinking about buying, maybe now is a good time to lock in a lower rate. If you are thinking about selling your home, this spring and summer should be a great opportunity for you.

In closing, if there is anything that I can assist or help you with, please feel free to call or email me anytime. You can also befriend me on Facebook under Jonathan Kostyra. I hope to hear from you and I hope you have a great year. Be blessed!

Jonathan Kostyra, Broker in Charge, e-Pro, Green, Licensced SC Builder

Carolina Realty Associates 

Greenville Real Estate

Mobile: 864-525-0736

 

+Jonathan Kostyra is an Associate Broker at Carolina Realty Associates Located at 607 Pendleton Street Suite 222 Greenville SC 29601 Jonathan can be reached at: 864-335-8936

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