Is Spartanburg, SC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spartanburg is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Spartanburg has remained a Seller's Market.

Key Takeaway

Spartanburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Spartanburg, SC

How much do homes in Spartanburg, SC cost?

Median Sold Price

$235,301

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$81(0.0%)

Key Takeaway

The sold price of homes in Spartanburg has remained the same since last year.

Summary: The median home sold price in Spartanburg was $235,301 in May 2024, the same as last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $195K$110K
-43.6%
2 $142.2K$158.5K
+11.4%
3 $221.5K$227.1K
+2.5%
4 $313.4K$311.5K
-0.6%
5+ $341.5K$397.5K
+16.4%

Summary: Spartanburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 43.6%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 16.4%.

Median Sold Price Compared To Nearby Cities

Roebuck
+4.2%
Spartanburg
0.0%
Moore
0%

Housing Supply in Spartanburg, SC

How many homes are available in Spartanburg, SC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
599626+4.5%

Summary: The Spartanburg real estate market had 626 homes for sale in May 2024, a 4.5% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 33
0.0%
2 7880
+2.6%
3 334351
+5.1%
4 150157
+4.7%
5+ 3435
+2.9%

Summary: The Spartanburg housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 2.9%.

Number of Homes Sold

Apr 2024May 2024CHANGE
134142+6.0%

Asking Price vs. Sold Price

60 Homes Were Sold
Under Asking

32 Homes Were Sold
At Asking

32 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spartanburg, you may be able to get a good deal. 48.4% of homes here sold below asking price last month.

Summary: A total of 142 homes were sold or pending in Spartanburg in May 2024, up by 6.0% month-over-month. Of the 124 sold homes, 48% were sold under asking, 26% were sold at asking, and 26% were sold over asking.

Days on Market for Spartanburg, SC

How long does it take to sell a home in Spartanburg, SC?

Average Sale Time

May 2023May 2024CHANGE
13 Days25 Days+84.3%

Summary: Homes in Spartanburg had an average of 25 days on market in May 2024, up by 84.3% compared to last year.

Breakdown of Home Sale Times

62 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Spartanburg are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 142 homes were sold in Spartanburg; 44% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

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