Hello everyone and welcome to another episode of Selling Greenville your favorite real estate podcast here in Greenville South Carolina I'm your host as always, Stan McCune Realtor right here in the Greenville area of South Carolina and you can find all of my contact information in the show notes if you need to reach out to me for any of your real estate needs and please like rate review subscribe to the show if you're on YouTube please just hit that little like button it takes like 1 second okay and again all these platforms have a way to subscribe most of them have ways to review to rate the show all of that so please do that when you get the opportunity alright we got the market stats for Greenville to round out December of course we are in January however we have the market sets come out a few weeks after the end of the month so we have to look at the month of December here and we got some interesting things now one thing that is odd here and I don't exactly know why I reached out to the Multiple Listing Service to try to figure out why but normally the vertical lines on the on the little graphs that all of these that all of these data points have normally the vertical lines if you're watching on YouTube correspond to January's well something happened I don't know if it's because we were we keep getting compressed in because we're trying to have this data go all the way back to 2007 which makes sense right cause that was when the Great Recession happened it's helpful to track you know what real estate has done since then but I think we're kind of running out of space and maybe something happened with the formatting but long story short it's a little bit trickier than normal to track exactly what is happening trend wise so just be aware if you're if you're watching this on YouTube that that happened for this month and I'm not sure why I don't produce this data I simply analyze it but still a lot of interesting little tidbits here so starting right at the top with new listings new listings went up a modest in comparison to most months a modest 8.7% we got 1455 new listings in December as opposed to the previous December was 1339 new listings and so you can see that these bottom numbers on the on the graph are the Decembers so we have slowly been making our way higher and higher every single December and if and again it's hard for me to analyze this but it looks like that this past December was the most new listings that we've ever had for a December so I I told you guys that the fourth quarter was more active than expected in a lot of ways and that's reflecting in this data here a lot of new listings a lot of pending sales as well so we had a 6.1% year on year increase for pending sales in December pending sales were at 1,089 as a in comparison to 1,026 in December of 24 so more people selling their homes more people active in terms of going under contract as well not surprising those two typically are correlated close sales also up now we had a November where close sales were down but in December close sales went up to 16.1% and I apologize I'm you know I want to look at one thing here I'm going back to pending sales for a second before I before I move on to close sales okay yeah so this is this is something that's interesting too okay with regard to pending sales this number looks very similar to last year right I just said it was a 6.1% increase only up from last year 1026 to this year 1089 pending sales in December now normally this number is low and it usually gets revised so if we look back at November of last month the data that we had for November it was it said 757 pending sales and that got revised to 13:01 and often times it's revised up between 500 and 600 units so there is a possibility that when I am reviewing these stats with you guys next month that this December number gets revised up to like 15 or 16 or even close to 17 units in which case that would make December one of the strongest months of pending sales for the entire year of 2025 so that actually is a noteworthy thing that we need to track that would indicate that the that the lower mortgage rates that we had come in towards the end of the year had a dramatic impact on the market and this is what we talked about just recently where I was saying that you know really we would see a huge difference at 5% but even if even if we just hovered installed out around 6% when it comes to mortgage rates and just stayed there for a while that would help this would be a huge indicator that that actually is already happening so I apologize that I almost glossed right over that because normally the pending sales numbers are clearly wrong and this this time with this data it was like oh it look it's showing a normal 6% increase no big deal and but it's possible that it was actually a much bigger year on year increase and we'll just have to see how that gets revised okay now back to close sales close sales despite a soft November had a big December December went to a 16.1% year over year increase in closed sales to 1658 but most noteworthy is that for the entire year of 2025 that's the third highest number that we have on here December was the third had the third most closed sales of any month in 2025 highly irregular and again this is what I was telling you guys that fourth quarter was busy a busy fourth quarter people were active people were looking at these low rates and saying again low rates in comparison to what we've had and saying I'm getting off the fence I'm going to I'm gonna buy a house and so we had a huge month of December in in the Greenville market for closed sales and very bullish for this year so far for 2026 days on market until sale and you know I'm just gonna if you're looking at the chart you see it like again I apologize to keep going back and forth here but November's close sales only 12 24 and we up went up to 1658 in the month of December we never see this sort of vertical line go up in the month of December that is so odd normally December would be either the bottom or near the bottom for clothes sales for the year so again it the fourth quarter the third and fourth quarters are weird how they how they operated but the way the year ended there was a lot of activity happening and I've seen some of that spill over into the beginning of this year now here's another interesting one the days on market until sale which is the average number of days between when a property is listed and when an offer is accepted in a given month went way up it went up to 63 this is the highest days on market until sale that we've had since 2019 now we've still been trending below the pre-pandemic norm for this so homes have still like so basically after Covid people got used to homes just selling quicker and we really have never returned back to what it was like before covid cause the market just normalized in this quick sale environment UM63 is pretty close though right that is pretty close to what we were seeing between 2017 and 2020 and that's a big increase from the 54 days on market until sale that we saw in December now with all the activity that we had at the end of the year we might see this days on market until sale come down a little bit in in January February I'm not sure but basically it's you know as of December it was taking over two months for home to go under contract from the time that it's listed median sales price so we finally know what the 12 month median was because we had the December numbers and the 12 month median came in at 1.7% because the December number came in at point seven % again both increases and so December the median sales price was 312,240 1.7% increase from the 310,000 December 2024 the 12 month median for the year was 319,900 a 1.7% increase over 2024 when it was 314,500 this was pretty much the only or the one of the main things that I still was not able to really look at and to be 100% sure in terms of whether I hit for my 2025 bold predictions the correct number in terms of in terms of what I said the median sales price would be but I did end up getting it the December number helped me I said that we would be appreciation for the year or the loosely speaking right median sales price loosely tracks appreciation I said that it would be between either minus one % or positive 2% we came in at 1.7% which is right in that range that I gave you guys so right now the median sales price is 312,000 and change what's the average sales price 381,971 the average is always a lot higher because it's skewed by all of those you know luxury homes million dollar homes I don't I don't consider the average to be accurate right when you're when you're looking at these numbers the median is really the number that more approximates what the average home cost in the Greenville market nevertheless the average is 381 9 71 a 1.3% increase over December 24 which is 3 76 9 0 8 percent of list price received went down by point one % to 98.2% December of 24 with 98.3% this is pretty much exactly where we've been hovering for a while now and this is very much in line with pre pandemic norms usually around 98% is what sellers get for a home that they have listed you have a hundred thousand dollar home listed you can expect loosely speaking to get 98,000 for the home not including any seller concessions that you might be offering so that's where that's where we're at really nothing noteworthy on that front housing affordability index this is a number that kind of cross references average incomes average mortgage rates and the and average home prices really it's factoring in more medians than averages but it I don't like to say median' cause some people just don't know what that means median is the middle number in a sequence of numbers and it's not always the best the best one to use but for a lot of this data it is so anyway if I say average and you can read on here cause you're looking on YouTube and see that it says median just know that I know it's median I'm just saying average and yeah there's that so the Housing Affordability index takes all of these data points into consideration and then spits out a number you want that number to be 100 or higher that tells you that the median family can afford the median priced home and what that number has been doing it's been turning below 100 for quite some time now and it bounced up to it was in November 96 it bounced up to 98 in December and because home prices are still going up probably the majority of that increase in affordability has to do with the mortgage rates I'm not sure that we have enough data on income on incomes changing in the month of December for that to really have influenced anything so housing affordability index at 98 and the good news is that that's higher than it was last year December of 24 it was 97 so the Greenville market actually got more affordable from December of 24 to December of 2025 that that's counter intuitive right because of the fact that the home prices have continued to go up right we just discussed that home prices were up point seven % year over year but with mortgage rates dropping that helped to make affordability better and again this is why this is exactly why we saw all of that activity towards the end of the year so if we could see mortgage rates just come down a little bit more we would see this number go above 100 which is where we want to see it and that's when we would really start to see even more activity now inventory of homes for sale this is another one of these numbers that tends to get heavily revised so November was reported last month as being 6,393 that got revised down by over 600 units to 5,765 okay so that was a 30% year over year increase from November of 24 which had 4,434 units of inventory for sale now December this is very interesting December came in at 5,309 again this is this is a not yet revised number now if that holds which it won't most likely again unless we're seeing that they have figured out how to fix this which is very possible right because this I would expect the inventory number to be 5,309 that sounds exactly like what I would expect it to be so I'm going to be looking very closely next month at whether they've ironed out the kinks of this data and figured out how to make it accurate but if that this gets revised down 600 units it'll go back down to the 4 for the first time since April of last year but if it if it holds at 5,309 that would be a 26% increase over December 24 which was 4,212 units now a 26% increase is a lot but it's a lot less than what we've seen the past few months so very interesting and if this if this number gets revised down then the then the inventory for sale will really really have gone down substantially and actually I am gonna show you real quick here if you're watching on YouTube I'm going to show you info Sparks which I've referenced a few times on this show this is another data source that we have from the Greater Greenville Association of Realtors and info sparks it the data is not exactly the same but it it's it should be fairly similar right the trends should be about the same even if the numbers are slightly different and here's what I want to point out from Info Sparks is that you can see a dramatic drop off we're looking at homes for sale which is inventory a really steep decline and specifically for existing homes so I've got here the top line is all homes the middle line is previously owned existing home sales and the bottom line is new construction and the existing home sales and the total inventory just has this big drop off in December now it's normal seasonality is normal right around December time is when we we when we tend to see this sort of thing this sort of thing start to go down but it doesn't usually go down that dramatically in fact you're you know looking at historical data typically it's January or February when inventory actually bottoms out historically speaking and now in in more recent years we've seen some wonky things happen but this is a pretty pretty steep decline in inventory and that's without this data again haven't been revised in any meaningful way so I'm very interested to see what exactly is going on here inventory wise this could really have a dramatic impact on our market if we start to see inventory creator that will shift things way back in the seller's direction right you've got less competition and all of that month supply of inventory this number again oftentimes gets revised because it's factoring in average pending sales which is a usually a number that gets revised and dividing that into the inventory of homes for sale at the end of the month which is also a number that usually gets revised let's look at November got revised from 4.5 down to 3.9 I told you guys that was gonna happen I told you guys that that would get revised down and that November you know that that we had a pretty good chance of seeing November going down back into the threes I think I said that I'd have to go back and listen to that episode last month to tell you for sure but December is going down even more 3.6 month supply of inventory so again this is heading in the seller's direction and if any of those other numbers that I just talked about get revised we might actually see that month supply of inventory was substantially lower at the end of the month of December now I mean I can look in the Multiple Listing service right now and tell you guys that you know the amount of inventory and I'm and I'm actually doing this right now as I'm talking to you guys you know the level of inventory that we currently have is 5,158 in terms of single family homes so I feel like maybe they actually just figured out how to do this data correctly the first time without it having to be revised I'm not really sure why we had all of those all of those revisions that needed to happen but nonetheless we're now in a in a situation here where perhaps this 3.6 months of inventory is actually what we have right and I won't have to come back on next month and tell you guys actually it was 3.1 or 4.0 or you know whatever the case may be so I'll let you guys know about that also they did some weird things with this graph as well this graph again does not compare to last month so there's definitely some tweaks going on here there's some kinks being worked out and I'm not entirely sure what the what the reason is for all of that I will try to get an answer and let you guys know but long story short we saw a decisive uptick in activity in the month of December and a shift towards sellers for the first time in a long time like you guys have if you guys are listening to the show you have not heard me say that this is going in a seller's direction for quite some time now is that a trend or is that just like a weird one off with the month of December I don't know but you guys and I we will all know this together because I'll be keeping track of this every single month so thank you guys so much for watching and for listening my contact info is in the show notes like rate review subscribe sell sell sell buy buy buy whatever real estate is out there we will talk to you guys next time!