Spartanburg, SC
Housing Market
Spartanburg's housing market is dynamic, with home prices and demand constantly shifting. Houzeo's housing market report monitors these fluctuations, providing real-time insights into Spartanburg's supply and demand trends. Our report equips you with all the information you need to make well-informed decisions.
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Buy or SellSpartanburg Housing Market Overview
The Spartanburg housing market shows signs of increasing demand. The median home price is currently $229,000, down 2.1% year-over-year. Homes spend 74 days on the market, indicating a slower pace of activity. This month, a total of 34 homes were sold, which reflects a 9.7% increase from last year. New listings are up 10% year-over-year, while inventory has declined by 9.6%.
Spartanburg's housing market offers a variety of options, from historic homes near downtown to newer developments on the city's outskirts. The area continues to attract buyers with its affordable cost of living, growing economy, and proximity to the Blue Ridge Mountains. With a blend of small-town charm, outdoor access, and a revitalizing urban core, Spartanburg appeals to those who seek both lifestyle and long-term value in the Upstate region of South Carolina.
Spartanburg's housing market offers a variety of options, from historic homes near downtown to newer developments on the city's outskirts. The area continues to attract buyers with its affordable cost of living, growing economy, and proximity to the Blue Ridge Mountains. With a blend of small-town charm, outdoor access, and a revitalizing urban core, Spartanburg appeals to those who seek both lifestyle and long-term value in the Upstate region of South Carolina.
Median Sale Price
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Spartanburg Housing Supply
Spartanburg attracts homebuyers as well as investors with its affordable prices, growing job market, and welcoming community atmosphere. This month, the total number of homes for sale in Spartanburg has reached 123, which is down 9.6% compared to last year. However, 55 new listings have entered the market. This marks a 10% year-over-year rise, which means that buyers have more options despite tight inventory.
Spartanburg's housing supply shifts with the seasons. More homes hit the market in spring and summer, as sellers aim to move before the school year begins. Buyers are also active at this time, hoping to settle in before fall. With homes staying on the market longer, buyers now have more negotiating power. This makes it a smart time to purchase. Make sure you carefully inspect homes, and ask for seller concessions to help with upfront costs.
Spartanburg's housing supply shifts with the seasons. More homes hit the market in spring and summer, as sellers aim to move before the school year begins. Buyers are also active at this time, hoping to settle in before fall. With homes staying on the market longer, buyers now have more negotiating power. This makes it a smart time to purchase. Make sure you carefully inspect homes, and ask for seller concessions to help with upfront costs.
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Spartanburg Housing Demand
The Spartanburg real estate market shows signs of softening demand. Only 14.7% of homes sell above the list price, while 37.3% have seen price drops. This means that buyers have more room to negotiate. The sale-to-list price ratio is 97.7%, an indicator that most homes sell slightly below asking price. While some sellers still attract strong offers, many have to adjust prices to match current market conditions.
To stay competitive, sellers should price homes right from the start, and consider offering concessions to attract buyers. Listing on the South Carolina MLS can help increase exposure and generate more interest in your property. For buyers, this market offers a chance to find better deals, especially on homes that spend longer on the market, or have recently seen price drops. With more listings hitting the market, buyers have more choices and greater leverage.
To stay competitive, sellers should price homes right from the start, and consider offering concessions to attract buyers. Listing on the South Carolina MLS can help increase exposure and generate more interest in your property. For buyers, this market offers a chance to find better deals, especially on homes that spend longer on the market, or have recently seen price drops. With more listings hitting the market, buyers have more choices and greater leverage.
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Strong
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Balanced
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Buyer’s Market
Seller’s Market
Balanced: Neither buyers nor sellers dominate the market. Supply meets demand, prices stay stable, and both parties negotiate on an equal footing.
Spartanburg Market: When to Buy or Sell?
Spartanburg's housing market follows seasonal trends, similar to the South Carolina housing market. Inventory usually rises in spring and summer, giving buyers more options and negotiating power. April through August is often the best time to buy, as more homes hit the market, and sellers are more open to deals.
From September through December, conditions often shift in favor of sellers. Fewer listings and steady demand can lead to stronger offers and faster sales. When Spartanburg's inventory rises above the balanced range of the US housing market (typically 5-6 months of supply), buyers gain an edge. When it drops below that, sellers benefit from multiple offers and better prices.
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Frequently Asked Questions
How have Spartanburg home prices changed over the past year?
Over the past year, Spartanburg's median home price has decreased by 2.1%, to reach $229,000. On the other hand, sales activity has picked up, which shows continued interest from buyers. If you're thinking about selling, use our free home value estimator to check your property's current value, and price it competitively.
What are Spartanburg housing market predictions for 2025?
The Spartanburg housing market is expected to stay relatively stable in 2025, with modest price movement as the market adjusts. Rising days on market and a high number of price drops suggest that rapid price growth is unlikely in the near future. However, Spartanburg's affordability, economic growth, and convenient location should continue to support long-term demand.
What's the average home price in Spartanburg, SC?
The Spartanburg, SC, average housing price depends on the neighborhood, property type, and size. The median home price is $229,000, making it one of the more affordable markets in the region. Condos and smaller homes may cost less, while larger or newly built homes in desirable neighborhoods can be priced higher. You can explore homes for sale in Spartanburg to find a property that fits your budget and lifestyle.
When will the Spartanburg housing market crash?
A housing market crash in Spartanburg is unlikely. While prices and demand may fluctuate, especially during active seasons like spring and summer, the market is expected to remain stable. Gradual price adjustments are likely in 2025, supported by steady buyer interest, affordability, and Spartanburg's growing appeal in the Upstate region.
Are housing prices going down in Spartanburg, SC?
Yes, housing prices in Spartanburg have slightly declined. Currently, the median sale price is $229,000, which is down 2.1% from last year and 4.7% from last month. While sales activity has increased and new listings are up, prices have softened. So, buyers have more negotiating power in today's market.
Where can I check Spartanburg housing market trends?
The Spartanburg housing market changes with the seasons, showing shifts in pricing, demand, and competition. Homes are staying on the market longer, and price drops are becoming more frequent. If you're thinking about buying or selling, you should keep up with the latest Spartanburg housing market trends to time your move wisely.
How to buy a home in Spartanburg, South Carolina?
Buying a home in Spartanburg starts with setting a budget and getting pre-approved for a mortgage. Next, you can search for homes for sale in Spartanburg, South Carolina, submit offers, secure financing, and complete the closing process.
How can I list my houses for sale in Spartanburg, South Carolina?
You can list your home for sale with a Flat Fee MLS South Carolina listing service. High-tech MLS listing sites like Houzeo automatically assign the right MLS paperwork based on your location.
What is the average mortgage rate for buyers in Spartanburg?
The average mortgage rate for buyers in Spartanburg currently fluctuates between 6% and 6.8%, consistent with national trends. Actual rates depend on market conditions and the borrower's credit score. Always check current rates with multiple lenders before you apply for a loan.
What is the cost of living in Spartanburg, SC?
Spartanburg's cost of living is 9% lower than the national average and 1% lower than the state average. Housing is a major expense, but it's relatively affordable, with the median home price at $229,000. Everyday essentials like food, clothing, and groceries also cost less than the US median.
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