Greenville Housing Market Update: Prices Hit Record High as Sales Slow

As we move through the heart of summer, the Greenville housing market is telling a story of contrast. Inventory is rising, buyer activity is cooling off, and yet—somehow—home prices have reached record highs. If you’re buying, selling, or simply keeping tabs on the local real estate scene, the latest report from the Greater Greenville Association of Realtors delivers a lot to consider.

June 2025 marked the highest median home price we’ve ever seen in Greenville. At the same time, pending sales are dipping and days on market are ticking up. It’s not a crash—it’s a shift. And understanding what’s really happening behind the numbers could make all the difference in how you navigate the months ahead.

Breaking Down Greenville’s 2025 Housing Market Trends

What’s Really Happening in the Greenville Housing Market?

According to the most recent Monthly Indicators report, the Greenville housing market is in transition. While the number of homes for sale is climbing and buyer momentum is cooling, prices are still pushing upward. Some of this is fueled by pent-up demand. Some is driven by a lack of affordable inventory. And some of it reflects buyers’ growing urgency before mortgage rates climb any higher.

Here’s a closer look at the latest data:

New Listings Are Up, But Likely Peaked In May

New listings in June were up 9.5% year-over-year. That’s a strong number, but also a slowdown from recent months. Listings dropped from 2,701 in May to 2,397 in June—a sign that May may have been the peak of 2025. That decline could impact inventory and buyer options heading into late summer.

Pending Sales Drop, Signaling Slower Summer

Pending sales were revised down to 1,465 in May—a 7.1% decline from the previous year. After several months of positive pending sales, this is a notable change. June’s pending sales will likely come in lower as well, continuing the cooling trend and pointing to reduced buyer activity as we move into Q3.

Closed Sales Remain Strong… For Now

Closed sales increased 7.6% year-over-year in June. That’s a sign of residual strength from earlier contract activity. But with pending sales falling, it’s likely this surge will fade soon. The market is slowing—but that slowdown is being delayed by strong closings from the spring surge.

Prices Keep Rising—Affordability Keeps Falling

The big headline? Greenville’s median home price hit a new record in June: $330,000—a 2.9% year-over-year increase. That’s the highest monthly median ever recorded in the Greater Greenville area.

But affordability continues to slide. The Housing Affordability Index dropped from 94 in June 2024 to 92 this year, meaning the average household can no longer comfortably afford the average home. Unless mortgage rates dip into the low 6s, affordability may continue to deteriorate.

Inventory Hits Levels Not Seen Since 2011

Inventory has surged. The June estimate is close to 6,000 homes on the market—a level not seen since the 2011 housing recession. Revised data for May showed a 30% year-over-year increase in inventory, and June is likely to match that trend.

What does that mean? Buyers now have more options. But sellers—especially those with existing homes—face more competition, particularly from new construction offering incentives and rate buydowns.

H3: What This Means for Buyers and Sellers

• For Buyers: More homes are available than we’ve seen in years, and the market is beginning to lean in your favor. But with prices high and affordability low, it’s still essential to shop smart, negotiate well, and stay patient.

• For Sellers: While prices are at record highs, the days of quick over-asking offers may be fading. Price your home wisely, prepare it thoroughly, and be ready to compete with new construction builders offering generous incentives.

  
  

Final Thought: Where Does the Greenville Housing Market Go From Here?

The Greenville housing market is evolving. It’s not crashing—it’s correcting. Prices are still rising, but buyer demand is tapering off. More homes are hitting the market, and that shift is beginning to reshape negotiations, expectations, and timelines.

Whether you’re looking to make a move or just watching from the sidelines, staying informed is your superpower. And if you’re not sure how to move forward, don’t go it alone—connect with a real estate expert who can guide you through the nuance of today’s market.

Bottom Line

The Greenville housing market is full of contradictions: rising prices, falling pending sales, growing inventory, and shrinking affordability. For buyers, that means more options. For sellers, it’s time to adapt. The next few months will be critical in shaping how the rest of the year plays out—and the more prepared you are, the better off you’ll be.

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Ien Araneta

Journal & Podcast Editor | Selling Greenville