Current South Carolina housing market: inventory grows, prices hold, and sellers adapt
The South Carolina housing market is shifting gears as we head into summer. Buyers are gaining more options, sellers are adjusting their pricing strategies, and overall market activity is returning to more balanced territory.
Here’s what that looks like across the Palmetto State:
More homes on the market, especially in growing areas
- Nationally, inventory rose 31.5% year-over-year, reaching its highest level since 2019.
- In South Carolina, we’re seeing notable increases in active listings in fast-growing areas like Greenville, Charleston, and Columbia.
- However, inventory is still about 14% lower than what we saw before the pandemic, keeping pressure on high-demand communities, especially along the coast and in popular retirement areas.
Rising mortgage rates are slowing buyer demand
- Mortgage rates climbed toward 7% in May, causing some potential buyers to pause or reconsider their budgets.
- In markets like Mount Pleasant, Hilton Head, and Rock Hill, buyers are still active—but they’re more selective and cautious.
- Many are watching rates closely, hoping for a dip before jumping back into the market.
New listings continue to rise—but at a softer pace
- Nationally, new listings increased 7.2% compared to May 2024.
- In South Carolina, we’re seeing more homes hit the market across suburban and rural areas, but sellers are pacing themselves as they test market conditions.
- The Upstate and Midlands regions are leading the way in new inventory, while coastal listings remain competitive.
Homes taking longer to sell (and that’s OK)
- Median time on market rose to 51 days, up 6 days from a year ago—bringing the pace back to pre-COVID norms.
- In South Carolina, this means homes may no longer sell in a weekend, especially if they’re not priced competitively or move-in ready.
- Buyers have a little more breathing room, and sellers are adjusting their expectations.
Prices are holding steady, but price cuts are on the rise
- The national median list price held at $440,000, unchanged from last year.
- In South Carolina, prices are mostly steady, especially in well-located communities near beaches, lakes, or job centers.
- However, nearly 1 in 5 homes nationwide had a price reduction in May—the highest rate for that month since 2016.
- Sellers across the state are realizing that buyers won’t overpay, even with limited inventory.
South Carolina market snapshot
| Region | Inventory Trend | Buyer Demand | Pricing Pressure | Time on Market |
| Charleston Area | Growing | Moderate | Slightly softening | Up from 2024 |
| Greenville/Spartanburg | Expanding | Steady | Competitive | Close to pre-COVID |
| Columbia & Midlands | Rising | Budget-focused | Price-sensitive | Slightly longer |
| Myrtle Beach/Coastal | Limited growth | Cautious | More price cuts | Slower than 2023 |
What buyers and sellers should know
For buyers:
- More choices mean more negotiating power. Don’t be afraid to ask for concessions—especially if the home’s been sitting a while.
- Just keep an eye on interest rates, as they continue to shape affordability.
For sellers:
- Price it right from day one. Buyers aren’t rushing like they used to—and overpriced homes are seeing reductions.
- Clean, staged homes in good condition still attract attention, but expect a longer timeline than in recent years.
What’s next for the South Carolina market?
The market is settling into a more balanced rhythm, so expect:
- A steady flow of new listings, especially in growing areas
- Cautious but motivated buyers
- Continued price stabilization and more room for negotiation
Ready to make your move?
Whether you’re in Greenville, Charleston, Lexington, or anywhere in between, the key to navigating this shifting market is working with a knowledgeable local expert. Whether you’re buying your first home, planning your next move in South Carolina or anything in between, you can get started with a pre-approval or speak with our local South Carolina team.
Source: Realtor.com
