Deck the halls—or buy new ones? Here’s what’s happening in Greenville and Spartanburg real estate this holiday season!
It’s the holiday season 🎵 Okay, maybe that’s up for debate, but what isn’t up for debate is that we’re officially in quarter four of 2024! And what better way to welcome the season than by taking a peek at what’s ahead for the Greenville and Spartanburg real estate housing market?
Now, let’s be real—no one has a crystal ball (if only!) to predict every twist and turn in the market. But we do have some solid insights on mortgage rates, home values, and buyer and seller activity that might give us a pretty good idea. If you’re considering buying or selling a house in the Greenville and Spartanburg areas, here’s what the experts are saying about the holiday market and beyond.
Mortgage Rates in Greenville & Spartanburg: Trending Down 📉
First up, mortgage rates! If you’ve been following the housing market (or if you’ve just felt the pinch of high rates), you know it’s been a bit of a roller coaster. Luckily, it looks like we might be on a gentle downhill slope for rates going into 2025.
Experts from Fannie Mae, the Mortgage Bankers Association (MBA), and even the National Association of Realtors (NAR) are all pointing to a gradual decrease in rates as we head into the new year.
What This Means for Buyers: Lower rates could mean more affordable monthly payments, which is great news for anyone ready to buy in Greenville or Spartanburg! Just keep in mind that more affordable rates often bring more competition, so if you’re planning to buy, you’ll want to be ready to jump in when you find “the one.”
Where Rates Stand Now: For quarter four of 2024, we’re hovering around an average rate of 6.4%. But keep your eye on the prize—rates may dip below 6% as we move into next year.
Greenville & Spartanburg Home Values: Steady Growth 🏡
Let’s talk home values. If you’ve watched prices go up and up over the past few years, you might be relieved to know that values are expected to grow, but at a slower, healthier pace.
- What’s Ahead: Experts are predicting a modest 2.6% increase in home values over the next year.
What does that mean if you’re a homeowner in Greenville or Spartanburg? It means your property is still likely to appreciate in value, just without the extreme spikes we’ve seen in recent years. And if you’re thinking about selling, this stability is good news—your home’s value should hold steady while staying affordable enough for buyers who are ready to make their move.
Greenville & Spartanburg Buyer and Seller Activity: A Balanced Market 📈
With mortgage rates starting to trend down, we’re likely to see a bit more movement on both the buying and selling fronts in Greenville and Spartanburg.
- For Buyers: Lower rates are encouraging for buyers, so if you’re in the market, get ready for a few more people to join you.
- For Sellers: More buyers usually mean more demand, so if you’ve been on the fence about listing your home, now might be a great time to catch their attention!
We’re not talking a holiday rush here—just a steady increase in activity that could give both buyers and sellers a bit of an edge. So, if you’re buying, start getting your budget and wishlist in order now, and if you’re selling, think about ways to make your home stand out in the crowd.
So, What Does This Mean for You? 🤔
Alright, so what do these trends really mean for you in Greenville or Spartanburg as we head into the holidays? Here’s our best advice:
- For Buyers: Keep a close eye on those mortgage rates. As they (hopefully) come down, you’ll have a little more buying power—but that also means a bit more competition. Be ready to act fast when you find the right home.
- For Sellers: With more buyers expected in the market, now could be a great time to list your home and attract motivated buyers. Show off what makes your property special and get ready to make the most of the season!
Why You Need a Local Expert on Your Side (Hi, that’s us! 👋)
If you’re wondering whether now’s the time to jump into the Greenville and Spartanburg market, having a local agent who knows the ins and outs can make all the difference. There’s a lot going on with mortgage rates, home values, and the general pulse of the market, and we’re here to help you make sense of it all.
As your Greenville and Spartanburg real estate team, we’re not just here to handle the details. We’re here to answer every question, offer our best advice, and guide you every step of the way. So whether you’re ready to buy, sell, or just need someone to talk you through the current market trends, we’ve got you covered!
Thinking About Buying or Selling in Greenville and Spartanburg? Let’s Chat!
Whether you’re a first-time buyer, a seasoned homeowner, or just staying up to date on the market, reach out to Team Matsuda Realtors. We’re here to make buying or selling as simple and stress-free as possible. So, if you’re thinking about making a move—or even if you’re just curious about what’s going on—give us a shout. We’re excited to connect!
Sound good? Contact us today, and we’ll be with you every step of the way! 🎉
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