New numbers show home prices up in Greenville and around nation - FOX Carolina 21

New numbers show home prices up in Greenville and around nation

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GREENVILLE, SC (FOX Carolina) -

There are some new numbers out from S&P CoreLogic Case-Shiller showing home prices around the nation are up over 6 percent, and it's a trend we're seeing in the Upstate, too.

In fact, realtors tell us it's not a demand issue, but is all about supply.  Bryan French is a realtor with Keller Williams and told us that in the Upstate, home prices are up around 7 percent compared to a year ago, with the average home in Greenville selling for about $227,000.

"I would definitely say based off of inventory and number of closings we have, it's definitely a seller's market,"  said French.

French added, homes aren't sitting on the market very long, just under two months.  That's because inventory is so low.

"The market definitely needs listings.  Inventory is very low so a lot of buyers can't find what they're looking for and that's driving days on market down and prices up over time."

French said that the price that is most popular for buyers is the $150-250,000 range.

If you want to buy in that range, French said to expect to find yourself in a multiple offer situation. 

He offered some tips for both buyers and sellers.

"For sellers, have a plan to where you're going to go because days on market are very low.  Prepare your house best condition and price and your house will definitely sell quickly,"  he added, "For buyers is to be patient, be totally prepared.  Have your financing in place, don't have a house to sell and be prepared to make an offer and move forward."

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