Is the Greenville Real Estate Market Heating Up or Cooling Down? Yes.

smmp28
Mar 27
2 min read

Updated: Jun 19

The real estate market in Greenville, SC is complicated right now. Some neighborhoods and price points are in high demand, with homes selling in a matter of days. Others are sitting on the market longer, with sellers adjusting their prices to attract buyers.

So, is the market heating up or cooling down? According to Selling Greenville Podcast Episode 265, both are happening simultaneously.

Is the Greenville Real Estate Market Heating Up or Cooling Down? Yes.

What’s Heating Up?

1. Affordable Homes Are in High Demand

Homes under $300,000 are getting snapped up quickly.
Buyers in this range, especially first-time homeowners and investors, are fueling intense competition.
Many homes in this price range receive multiple offers within days.

2. Desirable Locations Are Selling Fast

Homes near downtown Greenville, top school districts, and popular suburban areas are moving quickly.
Properties with modern renovations and strong curb appeal are especially in demand.
These homes are often selling above the asking price.

3. New Construction Is Gaining Interest

Limited housing inventory has driven buyers toward new construction homes.
Builders are offering special incentives to attract buyers.
Modern features and energy-efficient designs are making new homes more desirable than some older resale properties.

What’s Cooling Down?

1. Luxury Market Facing Challenges

Homes priced above $600,000 are taking longer to sell.
Higher interest rates have slowed demand for high-end properties.
More price reductions are happening in the luxury home market.

2. Some Suburban and Rural Areas Are Seeing Slowdowns

Areas further from the city center are struggling as buyers prioritize convenience.
Larger homes in less central locations may stay on the market longer.
Sellers in these areas may need to adjust pricing strategies

3. High Mortgage Rates Are Impacting Buyers

Interest rates remain a major factor in buyer hesitation.
Some buyers are waiting for rates to drop before making a move.
This is most noticeable in mid-to-high price ranges.

What This Means for Buyers and Sellers

For Buyers:

✔️ If you're looking in the under $300K range, be prepared for competition.

✔️ If you’re shopping for a luxury home, you may have more negotiating power.

✔️ Be aware of mortgage rate fluctuations and get pre-approved.

For Sellers:

✔️ If your home is in a high-demand area, price it right and stage it well.

✔️ If your home is in a cooling segment, be open to price adjustments and buyer incentives.

✔️ Homes with modern updates and great locations still sell quickly.

Final Thoughts

The Greenville real estate market is not black and white—some segments are booming, while others are slowing down. Whether you’re buying, selling, or investing, knowing which areas are appreciating or cooling off will give you a strategic advantage.