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 Greenville and you can find all of my contact information in the show notes you need to reach out to me for any of your real estate needs and please if you like this content like rate review subscribe all of those good things make sure you don't miss future episodes especially if you're on YouTube we need to smash that little like button it's really simple to do please just do that I'd love it if you leave a comment I'll try to respond please do that now if you're listening or watching you'll notice there are some things that are different this is not going to be the norm but I am recording this from my truck that's because I'm on my way back from a 40th birthday trip where I did a hiking trip out west 50 miles in five days a lot of elevation gain it was a ton of fun I'm on my way back and I wanna get you guys the content that you guys are used to I always release this podcast on Wednesday mornings and this is that's not gonna change just because I was on vacation so I I hope you guys are okay with the fact that I'm wearing a Bryce Canyon hat that I'm recording this from my truck and that I'm using my Beats Fits pros instead of professional recording software like I typically do but we have some important stuff to get into in terms of monthly indicators and I'm gonna keep this keep this episode relatively brief okay and I've got I actually I've got a Starbucks coffee here originally I was going to record this from Starbucks but the music was outrageously loud I don't know how you're supposed to think inside of there wow they're just blasting music so there is no way I could record this podcast anywhere near the building so in the truck it is so I'm gonna take a gulp of my Americano and let's jump right into the data so in Greenville this this episode as we look back at January 2026 is basically a look at what happens in Greenville when you have two winter events over two weekends in the same month okay and that's gonna be the story of this entire episode New listings data despite the fact that we had two winter storms okay two winter storms of the course of two weeks since that shut us down in January we still had positive year over year new listings data we were 3.7% above January 2025 which was 19:08 January 26th was 1979 new listings that tells me that we it's looking like even though December new listings was a little softer than what we had seen the fact that January was still positive year over year despite the two weekends I think that that means that we're going to have strong strong new listings data at least in the early half of this year now new listings are a little bit different than some of the other data from the standpoint of if a person if a person's listing their house they're going to list it right the these winter storms probably the first winter storm that we had didn't impact this data as much as the second one right the second one almost for sure had a direct impact on this if I had to guess January probably would have been 10% above January 2025 year of a year had we not had those two storms you never know but in general all of this is going to what I'm anticipating is that all of these numbers are gonna be lower for the month of January and then we're gonna have a big increase in the month of February again pending sales same thing this is our first month in a long time we have negative pending sales data year over year so January 26th was 1356 pen so January 25th rather was 1356 pending sales January 26th was 1347 so a slight decrease almost break even 1.7% decrease year over year that would have been in the positives had we not had those two winter storms so here's what happens again when we have this kind of winter weather it impacts your pending sales you really need to consider what to do if you're trying to sell or buy a home and we get these sorts of weather events in the Greenville area how that impacts your strategy you know I had a I have a listing right now it's under contract now but it wasn't under contract when these storms hit and there were some things I wanted to change up in the marketing but I felt like it was disadvantageous to my client to do that before these storms were all kind of out of the system right cause if you change up the marketing you get more buzz that's all that's exactly what you're wanting to do but then if that just gets immediately destroyed because of winter weather well what have you done you've done you've basically deflated the balloon you basically destroyed the ability of for that marketing to actually take a hold and to have an impact and you don't want that to happen close sales really had a big impact and no surprise again two weekends got a got eliminated from the month and so close sales went down 8.9% year over year nine 88 and 25 900 pen closed sales in January 2026 and that is really the lowest number that of pending sale of closed sales rather that we've had since 2023 and so that's again when you have a month with this sort of winter weather you can expect closings get delayed if you're a realtor you can expect you're gonna have to hold out a little bit longer eat some ramen or something until that next commission check comes in or whatever kind of check that you get because this is this is not good right we haven't had too many negative months the past year but and by far this is the biggest negative month that we've had in a long long time nothing to freak out about this just means that February close sales are probably gonna be really really strong by the way I need to go back to pending sales for a second it really looks like this data has been fixed once and for all we've talked a lot about how this data gets revised it seems like it's finally been fixed also kudos to the Multiple Listing Service to Linda and her team here in Greenville that the graph I talked about the graph was off last last month I talked to Linda about that and it appears from my perspective that this has been corrected since then I she ran it by me before they published it looked good to me and so kudos to the Multiple Listing Service team at the Greater Gable Association Realtors days on market until sale went up went up to the highest number that we've had since Covid since 2020 and not the part of Covid that was crazy and when things were selling quickly the part of Covid when things were selling slow because nobody knew what was happening right March April 2020 that that period that time frame and so January went to 67 days on market until sale that's how long from the time you list a home until you can expect to go into contract is what January looked like a year ago that was 61 days so that's a 9.8% increase I expect that to fall back down dramatically when the February numbers come in cause again what we have going on here is we have it just took longer as a result of these winter storm events really hurt you if you listed your home in the middle of January these storms really really hurt you and there's no way to account for that but again maybe consider I mean I saw I saw realtors listing homes during the storms and me personally anyone that came to me talking about these sorts of things you know trying to sell their home right before we had all the or trying to list their home right before this winter weather came in and what not I'm trying to discourage that because you don't want to you don't want to lose all the momentum of the initial first week or two of a listing that's when you have all the momentum and so people need to understand that and Realtors specifically need to understand that and push back on their clients when their clients are insistent hey we need to sell now and maybe you do maybe you do just need to list it and just let the chips fall where they may as far as the winter weather is concerned but I personally don't think that that's a great strategy all that being said one number that didn't go down was the median sales price because we had a 2.8% increase on the median sales price this is the closest thing that we have to being able to look at how is the market appreciating and so it's not it's not perfect right this isn't exactly market appreciation but it's a close metric of it and so January of 2025 the medium price was three 305 thousand and this past January 313,500 so nearly a ten thousand dollar increase year over year 2.8% increase we've been running some pretty strong increases year over year now for the past several months after having been below you know 2% for quite some time we've been mostly running above 2% with the exception of December which is December weird things happen in December okay so I'm not exactly sure how this is gonna work because again I'm trying to do this as much as I can from a from a Starbucks parking lot so I apologize the internet failed on me I just connected to my to my phone hotspot let me double check that all my other settings are okay that looks okay alright I apologize let me go ahead and share the screen that I had with you guys before alright I'm gonna hit the record on audio here as well alright apologies to those listening I just had a system glitch and I lost internet there for a second that killed everything that I was doing and we're back though so thank you for hanging in with me but as I was saying median sales price still went up 2.8% for the month of January year over year so that is still we're still seeing strong data and I don't think the storms are going to have any impact on that average sales price also continues to go up we haven't had a negative month in average sales price in quite some time that went up 1.5% year over year if you're interested in what the average sales price is it's not my favorite metric but it's 390,403 but if people ask me what is the average home selling for in Greenville I'm gonna tell them the median 313,000 that is generally speaking the more accurate metric to go off of percent of list price received was flat year over year 97.7% January is normally the lowest month when it comes to percent of list price received so if you're accepting an offer in January often times you're accepting at the bottom of the market from the standpoint of what people are going to give you so just be prepared for that there might be reasons for doing that for accepting an offer and I'm not certainly not saying reject offers don't reject a good offer in the month of January please don't do that but just understand January is not exactly the peak month it's really at from this standpoint the bottom month and again even though this episode is loosely about how the winter storm impacted everything it it's not going to impact the percent of list price received and so basically if you listed your home for $100,000 and in January and got under contract and closed it all in the month of January you got 97,700 not accounting for seller concessions like if you paid for buyer closing costs or buyer agent commissions compensation anything like that now the housing affordability index which is something we talked about a good bit has some positive revisions going on here cause we now are showing multiple months over 100 which is great January was 102 which is exactly the same as it was in January 2025 this number does sometimes have big revisions because there's a lot of laggy data involved with this specifically it takes into account median income levels so as we get up to date median income data that can result in in some things being revised so this is this is fantastic we have this means that basically when you factor in mortgage rates when you factor in median incomes when you factor in the cost of housing the median household can now afford the median priced home and there have been several stretches as recent as August of last year where they couldn't do that and so this is what we want we want this number to be over 100 and after these revisions it has now been over 100 for five straight months so that's great I bemoan the fact that often times we are below we have been below 100 and if you look at the graph you can see quite a few times when it's dipped below 100 in recent years and we really we always want the median household to be able to afford the median priced home otherwise you know there is no American dream right and so we want that here in Greenville and it really helps mortgage rates have kind of remained in the low sixes and they've even you know after going up a little bit they've come back down as a result of some of the inflation data that came in cooler than expected and so I haven't checked let me check real quick here I'm recording this on February 17th Mortgage News Daily has mortgage the average 30 year fixed rate based on their aggregate at 6.04% solid number in comparison to what we've had in recent years inventory of homes for sale this is one another one that frequently need to be revised and I think that we finally have up to date good data and January came in 24.5% higher than January 2025 so so nearly 25% more homes on the market this January than last January so if you're a buyer that's fantastic 5,241 homes on the market as opposed to 4,210 last year at this time that again that's fantastic that's what's keeping prices in check that's if inventory were in the 3 like you know it has been at different times prices would be through the roofs right now because it's just a supply and demand thing so this is supply has been going up and that has helped to offset you know the constant demand that we have here in Greenville and help to keep prices from raising to the point where that housing affordability index would exceed 100 and become unaffordable and so months supply what happened with months supply it went up a little bit but it has that's been the case for a long time now so it went from 3 months supply of inventory in January 25 to 3.5 months supply of inventory this past January now half a half a month supply of inventory that's a pretty big jump over the course of half a year however when you're looking at the actual numbers that is less of a jump than what we've seen most of the months have been running recently point six to point seven months higher than the than the previous year so that's actually in in many ways a pretty positive number but really we don't want months supply to jump dramatically it would be good if we had a little more month supply of inventory to help you know with affordability but we don't want it to take these huge swings we want it to gradually increase and as I've been telling you guys if we got to four and a half percent that would feel very buyers market sequel and for some people would like that get excited about that some people wouldn't and so you know it kind of cuts both ways but three and a half months supply of inventory most people will tell you want to get to six months I've been telling you guys for a while now that four and that's when it would flip to a buyer's market I've been telling you guys for a while now the dynamics are different four and a half months because of all the new construction four and a half months is the number in my opinion that where it would completely feel like a buyer's market and I stand by that now we're an entire month of inventory away from that it would take a lot more inventory coming on online for us to get it would be over six thousand units of inventory for sure for us to feel that way so at the moment this number to me tells me that that the market is definitely favoring sellers you know some mixed signals here and there but at the moment it's looking like the spring season is gonna be a strong season for sellers and again these most recent numbers didn't weren't impacted super dramatically by the storms I'm curious to see what happens with we just talked about inventory of homes for sale I will be very curious to see what happens in February if we get a lot more inventory coming on because the question is how much did these storms impact supply versus demand my Assumption would be it impacted demand more than supply in which case we get to actually see inventory drop in the month of February but that's just a guess again this is kind of I've never really tracked this data when we've had two winter events in in the same month it's just very very unusual for Greenville to have that so we'll just have to see exactly how that impacts things moving forward but thank you guys for dealing with all of this the way I look the technical issues all of that hopefully I'll be able to splice the two videos together that I recorded here and hopefully the audio part of it doesn't sound too terrible either but I appreciate all of you guys thank you for indulging this as I return back from the from the 40th birthday vacation that I had appreciate all you guys all my contact information is in the show notes please like rate review subscribe all of those good things and we will talk to you guys next time!