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 if you need to reach out to me for any of your real estate needs and please support the show and make sure you don't miss future episodes by subscribing of course if you can hit a little like button if you can comment on YouTube whatever the case may be leave a rating leave a review any of those things I would greatly appreciate it and yeah that's all I ask of you guys so please go ahead and do that today we're gonna be looking at the market stats if you guys remember my diehards last month the market stats slash what are now called monthly indicators did not show up for the month of may so you know usually around the middle of the month we get the monthly indicators for the month prior that did not happen last month now there was a glitch for those that are curious if you're really into these market stats there was apparently some kind of an issue that Showingtime that that provides this data for the Realtor association they were having issues with the days on market and so it just took them a long time to get those stats to us but they got us the stats for June on time and so I I actually could have done this episode this past week but I wanted to go ahead and get out Chris White's interview instead there are there are a bunch of reasons for that but here we go we've got the June numbers the official June numbers I don't have to go to InfoSparks and try to compare and contrast on there year over year this is much easier for me although I really do like the InfoSparks ability to break down you know bedroom count and new construction versus existing homes all of that but we're back in the norm here looking at the monthly indicators we're going to start right off at the top with new listings new listings we're up year over year 2.9% so we had 25 twenty new listings as opposed to 2449 in June of last year a 2.9% increase what does that mean well let's look back at may right because we didn't get to talk about may last time may only went up point two % so may was only up 2754 new listings versus 2749 the year before so these are two straight months now in the single digits I guess you could you could say that may was technically less than a single digit but two straight months now with new listings not being much stronger year over year which is interesting we're gonna come back to this this is this is a big deal okay this is a big deal cause this is starting to form a trend right cause if you're looking on YouTube you can see that most months in recent history have seen new listings growing year over year at least a 10% clip in some cases 20% or more and so for us to have two straight months at less than 3% of new listings year over year in in terms of increase new listing increase year over year that is significant we're gonna come back to that here in a little bit pending sales listen if you're looking at the at the graph you can see pending sales have been quite strong okay now pending sales that's just going under contract that's not the same as a closed sale we do still have a lot of people backing out in this market and so not every pending sale converts into a closed sale but we have had increases all year in pending sales after besides the month of January so since January every other month of 2026 has had a year over year increase in pending sales may was an 11.3% increase year over year huge increase and June was also a huge increase of 11.5% year over year so June we had 17 72 pending sales that was up from 1589 a year prior and basically if you took any one of the months from the past four months and compared that to any other prior month it would be the record for the most pending sales that we've ever had in other words the past four months we have seen more pending sales than any other month prior to this year so we're setting new records for pending sales that has continued very strong all year so far people have decided that they do want to make offers on houses and so that is what's reflecting the data close sales also quite strong right we now have had two straight months of record closed sales so may had a just a 3.6% increase year over year versus may of last year but that was still a record 1,854 closed sales is the most we've ever had that we can track but June destroyed it June came in at 1,944 that is a 13.9% increase over the 17:07 close sales in June of last year and so again we're seeing some very very strong close sales numbers as well we're really close to 2,000 close sales which we've never crossed before and I don't suspect that we will this year I mean it's possible usually July it if standard trends hold usually we'll see a little bit of a slowdown in July and then a little bit of a ramp back up in some of these numbers in the month of August before we go into the fall and winter snooze that where things start to slow down a bit but really really strong close sales number people have been have been active in the real estate market in Greenville so far this summer days on market until sale is 52 that was also same thing for the month of may that is an increase year over year last year we were in the 40s at this time of year so last year June was 43 days on market until sale so it's taking nine days longer than a year ago for homes to go under contract that's something for people to just be aware of these numbers are not historically abnormal but they are abnormal in terms of recent history they're a little bit higher but in terms of standard history going back to normal markets for it to take 52 days to go under contract is fairly normal for Greenville median sales price last month we had a well sorry for the month of may we had a 1.3% increase it went to 3 25 versus 3:00 20 and change for may of 2025 June was flat June the median sales price came in at 330,000 that's exactly what it was a year ago and so now here's where we're tracking in terms of the median sales price January was a 2.5% increase February 1.4% decrease March 3.1% increase April flat 0% may 1.3% increase and then June flat 0% so very modest appreciation I thought that we would and again the median sales price isn't by definition appreciation but what's happening here it and I expected these numbers to be higher but what's happening here again that new construction we talked about this last month that new construction is really keeping these numbers lower than you would expect them to be and so that's what that's what's coming into the data here now the average sales price if you're very concerned about what the average is the median is a lot more useful but the average for Greenville is 413,780 that's a moderate 2.3% increase over 404,000 and change of last year percent of list price received flat year over year 98.5% that number is in line with historical norms not a whole lot to say there if you list a house for $100,000 you can reasonably expect to sell it for 98,500 not factoring in seller concessions also not factoring in price changes as well they don't factor that in the main the important thing is that it's historically normal and it's not really changing much year over year either Housing Affordability Index this is the number we like to see at 100 that means that the median household can afford the median priced home the past two months have been below 100 May was 95 June is 98 and so you know what's happening with that the reason for that is because mortgage rates have gone up as I'm recording this and when I say they've gone up I'm you know relative to where they had been for a little bit so as I'm recording this 6.64% is what I am looking at on Mortgage News Daily and so you know it wasn't that long ago that they were in mortgage rates were in the low sixes we even talked about it a couple weeks ago they even briefly touched 5.99% so when you when you go up to you know the mid 6.6 range 6 point it was in the 6 point sevens earlier that does directly affect housing affordability when prices aren't coming down there's that's where the squeezes that's why we're seeing June housing affordability index was 98 but trending in the correct direction right June of 2025 was 96 that's good that's what we want to see we I would just rather see it at 100 so that people can actually afford homes around here but that's what the date is telling us that it's not quite at 100 at this moment now inventory for sale this is the number of properties available for sale in active status at the end of a given month that number is 6,269 for the month of June that was a 12% increase from 5 thousand five hundred and ninety nine in June of 2025 now that sounds like a big increase it actually isn't okay and here is why I think it actually isn't because if you remember not too long ago we were talking about the percent changes being in the 30s okay February of this year inventory was up 33% versus February of the year before then March went down to 25.6% year over year increase April 26% year over year increase but then may came along 17.6% increase year over year then now June 12% increase what are we seeing we're seeing a trend we're seeing a trend where we had been in the consistently inventory had consistently been 30% or more year over year and now we've seen four straight months where it's at 26% or less and now we're at 12% okay now I told you guys I was gonna talk about new listings let's look at the new listings data as well new listings had been trending year over year for a bit last year 25% more new listings year over year now we are in an environment where we have two straight months less than 3% right we just we just talked about that new listings have basically plateaued year over year for the past couple of months and so here's what I think is happening I think we're starting to reach a point where we might have tapped out on inventory in the Greenville market we might be near the ceiling of what this very specific market can effectively have in terms of inventory and we may start to see these numbers start to start to really slow down and I'm very interested to track this and here's the other thing you look at historical inventory we are high just not looking at months of inventory but looking at just total inventory we are quite high it's rare that we're above 6,000 and the past three straight months we have been above 6,000 last time that happened was in 2,011 right so this does not happen very often it's way above the pre covid trend line but it is slowing down year over year and so we're definitely gonna have to track this because of that new listings data starts to continue to slow down in the way that that it has the past couple of months it won't be long before we're in the negatives year over year in terms of inventory and then things start to flip a little bit more towards the seller in that instance now months supply of inventory up slightly year over year it was 4.1 months of inventory for the month of June that's up 5.1% versus the 3.9 months supply of inventory year before and here's the thing about the inventory is it's really not much different than pre covid levels despite total inventory being way above pre covid levels months supply is not why is that because months supply factors in demand okay so think about months supply of inventory this is just telling you at the current levels of demand how many months it would take for all of the homes to get sold okay if every home got sold that is currently listed how many months would it take for them to get sold based on the current absorption levels it would take 4.1 months this is traditionally the primary metric that we use for assessing what the market is like whether it's a buyer's market or a seller's market I've been telling you guys for years now I if this number got into the mid fours it would feel very much like a buyer's market well we're at 4.1 okay if it doesn't quite feel like a buyer's market I would argue that it it's not now again we've been talking about this all year some of these metrics look more buyer ish friendly some more seller ish friendly it's a conflicted market it's been like that for quite some time now but the important thing is that again we're reaching a a point of stabilization here where we where our month supply had been increasing 20% or more year over year now we have basically four straight months where month supply has come down versus that trend line so March month supply was up 18.2% year over year then April 17.1% year over year then May 10.5% year over year now June is only 5.1% year over year what we're seeing again is that inventory that there seems to be that sellers are kind of starting to stabilize we've kind of reached whatever the ceiling is for the number of sellers that we could have in this market is what the data appears to be saying but that buyer activity is starting to pick up relative to seller activity very very interesting thing to see and again this could be an early signal of the market flipping more towards sellers not that's not a prediction that's just that's just a possibility based on where this data is going and if it continues to go in that direction that for sure will happen so we gotta keep track on that we gotta keep watching all of this data and that's exactly what I'll do for you guys every month assuming I have the data every month which I didn't last time but I improvised last last time and I hope that I hope that was helpful for you guys so thank you so much for watching and for listening again my name is Stan McCune my contact information is in the show notes if you need a realtor for any of your real estate needs in the Greenville area please like rate review subscribe to the Selling Greenville Show I'll talk to you guys again next time!