Monthly Market Update: February 2025 

As we move further into 2025, Greenville’s real estate market continues to make headlines. Is the market experiencing a true boom, or are we headed toward a bubble? In this month’s market update, we break down the latest trends, statistics, and expert insights to help you navigate the housing landscape.

The Truth Behind Greenville’s Hot Market 

There’s a lot of information swirling around about Greenville’s real estate market, and it can be difficult to separate fact from speculation. Here’s what you need to know about where things stand today:

1. Interest Rates and Market Volatility

Interest rates have been fluctuating for the past 18 months, creating uncertainty for many buyers. While we won’t focus on exact rates since they change frequently, the key takeaway is this: rates have remained within a certain range. Waiting for the "perfect" rate might not be the best strategy, as the market has shown resilience despite rate changes.

2. Greenville Defies National Trends

Nationally, home sales in 2024 hit their lowest point in a decade. However, Greenville’s market is bucking that trend. In fact, home sales in the area have slightly increased compared to 2023. This is largely due to the continuous influx of new residents drawn to Greenville’s quality of life and affordability.

3. The Lock-In Effect and Inventory Challenges

Many homeowners who locked in historically low interest rates in 2020-2022 are hesitant to sell due to the higher costs of buying another home. This has led to limited inventory in prime locations, but new construction is helping fill the gap. Nearly one in three homes sold in 2024 was a new build, making it a key driver of the market’s growth.

4. Location Matters More Than Ever

Homes in downtown Greenville continue to see high demand and premium prices. Meanwhile, properties in suburban and rural areas are becoming slightly more negotiable due to increased inventory. Buyers looking for affordability can find better deals by expanding their search radius.

5. Seasonal Market Trends to Watch

Historically, Q1 and Q4 tend to be the slowest real estate seasons in Greenville, while spring and summer bring peak buying activity. Experts predict that this year could see even more buyers entering the market, particularly if interest rates decrease. If you’re considering buying, acting early may help you avoid the increased competition expected in the coming months.

Watch Our February Market Update Video

Buyer and Seller Takeaways for 2025 

For Buyers: 

• Act early – Spring and summer competition could drive prices up.
• Explore outside the city center – Homes farther from downtown may offer better deals.
• Consider new construction – Builders are offering great incentives to make homes more affordable.

For Sellers: 

• Prime locations sell fast – If you’re near downtown, demand remains strong.
• List sooner rather than later – A potential surge in inventory later this year may mean more competition.
• Strategic pricing is key – Homes priced correctly are still moving quickly in today’s market.