The Real Estate Market is Better than You Think

The mood around housing lately has been shaped by headlines, fear, and a whole lot of guesswork. But this episode of Selling Greenville takes a different approach. Instead of relying on vibes, it digs into hard numbers from the MLS and ShowingTime to see what’s actually happening in the Upstate housing market.

And the verdict? The real estate market is better than most people think. Not perfect, not untouched—but far from collapsing.

The Real Estate Market Is Better Than You Think (By the Numbers)

The episode zeroes in on the stretch from March 19th to April 8th, the period when social distancing and shutdowns really started to take hold in South Carolina. That’s when people began wearing masks, staying home, and wondering what would happen to housing.

So the host pulled MLS data for that exact window in 2020 and compared it to 2019, focusing on new listings priced above $5,000 (to cut out most rentals) across all property types—homes, condos, land, mobile homes, and more.

Here’s what the numbers showed:

• From March 19th to April 8th, 2020, there were 1,380 new listings.

• During the same period in 2019, there were 1,484 new listings.

That’s a drop of about 7%. Noticeable, yes. But given the global backdrop, it’s surprisingly mild.

To see if the trend was accelerating, the episode slices the data again—this time from March 31st to April 8th:

• 2020: 559 new listings

• 2019: 590 new listings

Now the difference shrinks to about 5.25%. In other words, as time went on, sellers did not keep retreating. If anything, the gap between this year and last year started to narrow.

For a market enduring a pandemic and shutdowns, that’s not the behavior of a system in freefall. It’s the pattern of a market adjusting, but still moving.

Showings Plunge—But That’s Not the Whole Story

Where the hit shows up more clearly is in showings. Using data from ShowingTime, the episode tracks how in-person appointments dropped sharply as restrictions kicked in.

Before things tightened up, a typical day would see 600–700 showings, with Saturdays jumping to around 1,100–1,200 showings across the market. That’s the kind of traffic you expect during a healthy spring season.

Then the bottom fell out on volume:

• One recent Saturday logged just 641 showings, nearly a 40% drop from the usual peak.

• Weekdays dropped too, with daily showings dipping into the 300–400 range instead of the usual 600–700.

On the surface, that sounds scary. Fewer showings usually mean fewer interested buyers. But the episode points out an important twist: some days in late March and early April actually showed slight improvements compared to earlier lockdown days, suggesting that things may already have begun stabilizing.

And more importantly, a drop in showings doesn’t automatically mean a drop in contracts.

Contracts Tell a Very Different Story

Because of how the MLS handles contract dates, the episode has to get a little creative to see what’s really happening with accepted offers. But by tracking new listings and then checking which of those went under contract during the same period, the host builds a side-by-side comparison between 2019 and 2020.

For March 19th to April 8th, 2020:

• 1,380 new listings

• 466 of those went under contract during that same period

That’s roughly one-third of all new listings already under contract—during what many people consider one of the worst economic backdrops in years.

In 2019, for that same window:

• 1,484 new listings

• 383 went under contract

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So even though there were fewer new listings this year, more of them went under contract.

The pattern is even more striking from March 31st to April 8th:

• 2019: 90 new listings under contract

• 2020: 153 new listings under contract

That’s not a soft market. That’s a serious buyer market.

The caveat, of course, is that some of those 2020 contracts may fall through before closing. But even with that in mind, it’s hard to ignore how strong the contract activity has been relative to the circumstances.

Fewer Casual Shoppers, More Serious Buyers

So how do you reconcile showings down 25–40% with contracts staying strong—or even rising?

The most likely explanation is that the “just-looking” crowd has stepped back, while the serious buyers have stayed firmly in the game. The people still booking showings now are the ones who need to move or are fully committed to buying.

That means:

• Each showing counts more.

• The ratio of showings to contracts has tightened.

• The market, instead of cooling into a buyer’s paradise, is still behaving like a seller-friendly environment.

In some price ranges, that’s even led to bidding wars. The episode mentions multiple recent situations where buyers found themselves competing with other offers—proof that demand is still very real, especially in desirable segments.

Why It’s Still a Seller’s Market (For Now)

Based on the numbers, the episode makes one thing clear: the real estate market is better than you think if you’re looking at it purely from a seller-versus-buyer standpoint.

Yes, showings are down.

Yes, there’s economic uncertainty.

But:

• New listings are only down modestly.

• Contracts on new listings are keeping pace with or exceeding last year’s levels.

• Serious buyers are still out writing offers.

In fact, with fewer homes being listed but similar numbers of contracts, the trajectory leans even more toward a seller’s market in the short term. Inventory tightens, buyers compete, and sellers keep their leverage.

The wildcard is time. If owners who delayed listing eventually flood the MLS once things feel safer, there could be a temporary swing toward buyers, with more options and more negotiating power.

That’s why the episode emphasizes timing for sellers. Waiting until “everything blows over” might mean listing at the same time everyone else does. For those who already know they need to sell, right now may actually be the quieter, more strategic window.

What This Means for Buyers and Sellers Right Now

For sellers, the message is cautiously optimistic:

• The market is still moving.

• Homes are still going under contract quickly.

• You may deal with fewer showings, but the ones you do get are likely from serious, motivated buyers.

For buyers, the realities are different:

• There are fewer options than usual.

• Multiple-offer situations still exist, especially in certain segments.

• Patience and flexibility are crucial, as inventory remains tight.

The episode also notes that certain segments, like multifamily properties and high-end luxury homes, are likely to feel more of a slowdown than the core residential market. But overall, real estate in the Greenville area has held up far better than many expected.

Everything remains fluid, and the advice is to think in terms of week-by-week strategy, not long-term assumptions. Conditions can shift quickly—but the current data simply doesn’t support the idea of a market in freefall.

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Bottom Line

When it comes to whether the real estate market is better than you think, the Greenville area offers a surprisingly hopeful answer. The surface-level noise—fewer showings, more restrictions, economic anxiety—doesn’t tell the full story.

Beneath that, the numbers show a market where new listings have dipped only slightly, yet contracts on those listings are still matching or beating last year’s levels. Serious buyers are very much alive and active, and sellers still hold the advantage in most price ranges, even if they’re seeing fewer people walk through the door.

For now, that means homeowners considering a sale may be in a stronger position than they realize, while buyers need to stay sharp and patient in a leaner inventory environment. The situation may evolve, but at this moment, Greenville’s housing market is holding its ground far better than the headlines suggest.

Ien Araneta

Journal & Podcast Editor | Selling Greenville