Comparing 2024 to the Chaos of 2021

Greenville’s real estate market has seen its fair share of wild chapters — remember 2021? Homes were vanishing within hours, bidding wars felt more like auctions (minus the fancy paddles), and buyers were waving inspections just to get a foot in the door — or at least one shingle on the roof.

Fast forward to 2024, and the landscape feels almost calm (well, as calm as real estate ever gets). This season isn’t about chaos — it’s about contrast. Looking at the numbers side-by-side shows how dramatically the market has evolved — and what that evolution reveals about where things are headed next.

Comparing 2024 to 2021

If 2021 was the year of “blink and you’ll miss it,” then 2024 is the year of “take a deep breath.” The shift isn’t just about prices—it’s about balance. Inventory has surged, buyer behavior has normalized, and the playing field finally feels less tilted.

Back in 2021, Greenville had just 1,241 active listings—a shockingly low number that had agents refreshing MLS like they were trying to snag concert tickets. Today? Over 4,100 homes are on the market—nearly three and a half times more than that chaotic year. That alone tells the story: the city has moved from frenzy to function.

More Homes, More Breathing Room

The difference in available homes is striking. Single-family listings jumped from 912 to more than 3,500 — a fourfold increase. Even condos and townhomes saw steady growth. (So yes, you can finally find a downtown place that isn’t already under contract before your GPS loads.)

The market isn’t flooded — it’s balanced. Buyers have more choices, sellers have to work a little harder, and agents can finally schedule showings without hearing, “Sorry, it’s already gone.”

Demand Down, But Not Dead

In 2021, demand was so intense that it practically melted the MLS servers. Over 3,200 homes were under contract at any given time. In 2024, that number hovers around 2,300 — about a 30% drop.

That might sound steep, but it’s actually healthy. Lower demand paired with higher supply means the market has finally exhaled. Buyers can think before offering, and sellers have to price strategically instead of relying on adrenaline. (In 2021, “strategy” meant hoping your photos uploaded before offers started flying in.)

Price Points Tell the Story

The change becomes even clearer when you zoom into the price brackets:

• $200K–$300K homes more than doubled—from 535 in 2021 to over 1,300 in 2024.

• $300K–$400K homes exploded fivefold—from 220 to over 1,000.

• $400K-plus homes? Up by more than 1,000 active listings.

  
  

These aren’t minor shifts — they’re the market correcting itself after years of pent-up demand. The once-missing middle — homes ordinary families could actually buy — is finally reappearing. It’s not “cheap,” but at least it’s possible again.

New Construction: From Hidden to Headline

In 2021, builders barely had to list their homes. They’d post a sign, open a model, and sell out before the weekend. But as demand cooled, builders had to get back on MLS.

New-construction listings ballooned from 610 to 1,619—a mix of projects still underway and fully completed homes. Nearly 500 brand-new homes are move-in ready, compared to just 60 in 2021. That’s a major shift.

Buyers who once waited months for a build can now shop finished homes (and maybe skip the dreaded “supply chain delay” conversation).

The Ratio That Explains Everything

In 2021, for every active listing, there were roughly three homes under contract. Today, it’s flipped — almost two active listings for every pending sale.

That ratio sums up Greenville’s evolution. It’s not chaos anymore—it’s competition. Sellers have to stand out. Buyers can negotiate. And both sides are learning to play by normal market rules again.

The Calm After the Chaos

Ask any agent in town, and they’ll say 2024 feels slower—not stagnant, just intentional. Homes still sell, just not at warp speed. Buyers still buy, but only after comparing options (because who doesn’t love a little window-shopping before signing a 30-year mortgage?).

The frenzy of 2021 ran on desperation and cheap money — basically caffeine and chaos. The steadiness of 2024 runs on caution and choice — a mix that feels saner, if a little less exciting. And honestly? That’s a welcome change.

Why It’s Still a Good Time (for Both Sides)

For buyers, 2024 brings something 2021 never could: options. With four times the listings, the pressure to overpay has eased. You can tour, think, and make an offer without feeling like you’re on a game show.

For sellers, the market still leans in your favor — just not wildly so. Good pricing, solid presentation, and patience pay off. There’s still demand, just less frenzy.

For everyone in between, it’s a lesson in balance. The market didn’t crash—it matured.

What’s Next for Greenville Real Estate

The question everyone’s whispering: will the chaos return?

With potential rate cuts on the horizon, demand could heat up again. Lower borrowing costs might pull buyers off the sidelines, creating another mini-rush. Add in election-year uncertainty and possible buyer incentives, and 2025 could look very different.

But for now, Greenville stands in that rare middle ground — steady, navigable, and refreshingly sane. (Which, in real-estate language, basically qualifies as a miracle.)

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Bottom Line

2024 isn’t 2021—and that’s a good thing. The proof is in the numbers: more homes, more breathing room, and fewer bidding wars. Greenville has evolved from chaos to control, from scarcity to selection.

The days of 12-offer showdowns might be gone (thankfully), but opportunity remains — for anyone willing to move with the market, not against it. (And if the next round of chaos comes, at least we’ll know we’ve survived it before.)

Ien Araneta

Journal & Podcast Editor | Selling Greenville