The Hidden Truth About Greenville’s New Construction Market

Are you thinking about buying or selling a home in Greenville, South Carolina? There are five real estate trends that could make a huge difference in your decision—and most people aren’t talking about them. Whether you’re a first-time homebuyer, a seasoned investor, or a seller looking to maximize profits, knowing these trends could put you ahead in this fast-paced market.

Move-In Ready Homes Are Hotter Than Ever

Today’s homebuyers, especially Millennials, are leaning heavily toward homes that are move-in ready. This generation, the largest in the home-buying market, is used to convenience and instant gratification, and many simply don’t have the extra funds for renovations after making such a big purchase.

What does this mean for sellers? Homes that don’t need repairs or upgrades are selling faster and for more money. If you’re thinking of selling, making your home 100% move-in ready could be the key to attracting offers.

New Construction is Taking Over the Market

New construction homes are surging in Greenville, making up 32% of all home sales—up from the usual 20-25%. Builders have stepped up to meet demand, and they’re offering big incentives like interest rate buy-downs, paid closing costs, and home warranties. For buyers in the $300,000-$450,000 price range, this could be an excellent opportunity, but sellers in the same range may face more competition. Learn how you can make your home stand out if you're in this competitive bracket.

Investors Are Making Moves

You’ve probably heard about institutional investors buying up large quantities of homes across the country. While Greenville hasn’t seen a huge influx of these big players, local “mom-and-pop” investors are still very active. In fact, investor activity just saw a small uptick after months of decline, and we’re seeing many long-time property owners cashing in on their equity.

Whether you’re an investor looking for a new opportunity or a homeowner wondering what this means for your sale, the impact of these investors could be significant. For sellers, more investors in the market might mean more competition. For buyers, it could present an opportunity to find a property at a good price if investors are looking to offload homes quickly.

New Construction vs. Resale Homes: The Battle Continues

It’s not just the number of new construction homes that are rising—these properties are directly affecting how long resale homes stay on the market, especially in certain price ranges. Homes between $250,000 and $500,000 are facing the most competition from new construction, with days on the market increasing by 15% in some categories.

If you’re selling a home in this range, it’s essential to work with a real estate agent who understands the local market and can create a marketing strategy that highlights the unique benefits of your home. New construction might have all the bells and whistles, but resale homes offer value in ways that new builds can’t.

Out-of-State Buyers Are Flocking to Greenville

South Carolina has become one of the most popular states for out-of-state buyers, and Greenville is one of their top destinations. With 2.5 people moving to Greenville every day, the city’s population is growing fast.

Why are so many people relocating here? Lower living costs, beautiful surroundings, and a high quality of life are just a few reasons. Many of these buyers are coming in with cash offers from higher-income areas, which keeps demand high and inventory low.

For sellers, this means there’s likely a strong buyer base for your property. For buyers, it means the competition is fierce, so having a knowledgeable agent who can help you navigate the market is more important than ever.