Start with the metro numbers, because the neighborhood-level numbers people quote at dinner parties are mostly a feeling with a decimal point attached. Everything in this paragraph is the Greater Greenville Association of Realtors' June close. Active inventory, 6,269, up 12.0 percent year over year. Days on market, 52, up about 21 percent. Median sale price, $330,000, flat at 0.0 percent. Months supply, 4.1. That is a balanced market tilted toward the buyer, and nothing more dramatic than that.
The luxury tier is where the tilt gets steep, and GGAR breaks it out. Above $1 million, pending sales are up 30.6 percent year over year, so demand at the top is not the problem. Sellers in that tier are getting 96.0 percent of list price, the weakest ratio of any band above $150,000, on 8.1 months of supply. Buyers are showing up and still writing the terms.
Read those two facts together. Eight months of supply above a million means a seller who wants out this year is competing against a deep shelf of alternatives, and the 96.0 percent tells you the competition is settling in the negotiation rather than in the list price. Four percent off ask is not capitulation. On a $1.4 million house it is a kitchen.
Which brings us to Augusta Road, Cleveland Park, and Chanticleer. Treat them as buyer types, not data points. Augusta Road is the walk-to-lunch buyer who wants sidewalks and a short school run and has no interest in acreage. Cleveland Park is that same buyer who would rather look at the park than the street. Chanticleer is the buyer who wants the lot, the trees, and a long driveway. Three different searches that happen to share a metro.
The MLS does not publish days on market by price band inside those neighborhoods, and we are not going to approximate it for you. What the published data does support is simpler. The leverage above a million is real, it is measurable, and it sits in the terms rather than the sticker.
The metro price line is holding. The negotiating room is above it.
If you are shopping the million-plus band this summer, the advisory conversation is complimentary and we will walk your target list against the actual list-to-sale ratios.
All Field Notes