We continue to see bright spots in the housing market, but overall conditions remain relatively weak. Mortgage rates remain low and should remain there for several more months. The holiday season and cold weather always slow the market down and this year will be no exception. We are expecting the spring to bring increased activity when compared to the previous year. Below are some key statistics taken from the Greater Greenville Association of Realtors MLS:
- 5,628 properties sold from Jan. 1 – Oct. 31st, 2010. This represents a 0.3% decline from the same time period in 2009.
- The average price for this time period increased by 3.5% to $173,018 year over year.
- Average Days on the Market remained unchanged at 102.
- For more perspective, below are the year over year increases/decreases in number of homes sold:
- 2005 – 2006 = 7.4% increase
- 2006 – 2007 = 3.3% decrease
- 2007 – 2008 = 20.2% decrease
- 2008 – 2009 = 15.4% decrease
- 2009 – 2010 = to date it is 0.3% decrease