Monthly Market Update: March 2025 

Greenville’s real estate market is making waves as we move further into 2025. Are home prices about to rise? Is now the right time to buy? In this month’s market update, we break down the latest trends, expert insights, and what you need to know about the local housing market.

Why Greenville Home Prices May Increase Soon

You may have heard that new home prices could be going up, but what’s causing it? Here’s what’s happening in Greenville’s market right now:

1. Rising Construction Costs

New home prices may rise soon due to increased costs for building materials. Tariffs on imports from China, Mexico, and Canada could make lumber, steel, and appliances more expensive. Experts predict that if these tariffs stay in place, new construction prices could increase by 4-6% in the coming months.

2. Interest Rates Are Improving

The good news? Interest rates are near a four-month low. Lower rates help make homes more affordable, but if prices rise, the savings might not last long. If you’re thinking about buying, acting sooner rather than later could be a smart move.

3. Big Builders vs. Local Builders

Large national builders can buy materials in bulk and keep costs lower. However, smaller local builders might have to raise prices more because they can’t get the same discounts. This could lead to fewer affordable options from smaller builders in Greenville.

4. Labor Shortages Could Impact Construction

There’s already a shortage of construction workers. If immigration policies change, there could be even fewer workers available, leading to slower build times and higher costs.

5. Inventory Challenges

Many homeowners who locked in low interest rates in 2020-2022 are staying put, keeping housing inventory low. With fewer homes for sale and new construction prices rising, demand is expected to stay high.

Watch Our March Market Update Video

Takeaways for 2025 

For Buyers:

• Buying now may save you money before construction costs go up.
• Look at new construction—builders are offering incentives to attract buyers.
• Consider homes outside the city center for better deals.

For Sellers:

• Homes near downtown are still in high demand.
• Listing sooner may help you sell before more inventory hits the market.
• Pricing your home correctly is key to selling fast.