Monthly Market Report: December 2024

As 2024 draws to a close, everyone is curious about what lies ahead for Greenville’s real estate market in 2025. In this month’s market update, we’ll dive into key predictions and trends that could shape the housing market in the coming year. Whether you’re buying, selling, or just staying informed, here’s everything you need to know.

Home Prices Are Stabilizing

Experts predict a 2-4% increase in home prices nationally in 2025, which aligns with historic averages. This slower growth, compared to the past five years of rapid appreciation, means a more stable market. For buyers, it’s an opportunity to purchase homes without worrying about skyrocketing prices. Sellers can still expect steady demand, making it a win-win for both parties.

Mortgage Rates Could Drop

Mortgage rates have been a hot topic, with rising rates impacting affordability. However, projections suggest the Federal Reserve might cut interest rates in 2025, which could lower mortgage rates. This shift could ease the "gridlock effect," where homeowners with low interest rates hesitate to sell due to higher payments on new homes. Lower rates might encourage more sellers to list their properties, increasing inventory and giving buyers more options.

New Construction Is Thriving

With limited inventory from existing homes, new construction has been crucial in meeting Greenville’s housing demand. Builders are stepping up to provide more options, ensuring buyers have plenty to choose from in 2025. This trend is expected to continue, offering opportunities for those looking for modern, move-in-ready homes.

A More Balanced Market

The Greenville housing market has become more balanced in recent months. Inventory levels have risen, and homes are taking slightly longer to sell—about 60 to 90 days on average. While well-priced, attractive homes still sell quickly (sometimes with multiple offers), buyers now have more time to find the perfect property without feeling rushed.

Spring and Summer Surge Expected

Experts anticipate a boost in buyer activity by spring or summer, coinciding with potential mortgage rate drops. This could result in more competition among buyers, so those ready to move might consider jumping into the market earlier to get ahead of the curve.

Why Greenville Stands Out

Through market ups and downs, Greenville continues to shine. With its tight-knit community, growing economy, and attractive housing options, the city remains a top choice for families, professionals, and retirees alike. If you're considering buying or selling in 2025, now is the perfect time to prepare.

Watch Our December Market Update Video