Is Spartanburg, SC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Spartanburg has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $195K | $110K | -43.6% |
2 Bedrooms | $142.2K | $158.5K | +11.4% |
3 Bedrooms | $221.5K | $227.1K | +2.5% |
4 Bedrooms | $313.4K | $311.5K | -0.6% |
5+ Bedrooms | $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%.
Housing Supply in Spartanburg, SC
How many homes are available in Spartanburg, SC?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
599 | 626 | +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
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 3 | 0.0% |
2 Bedrooms | 78 | 80 | +2.6% |
3 Bedrooms | 334 | 351 | +5.1% |
4 Bedrooms | 150 | 157 | +4.7% |
5+ Bedrooms | 34 | 35 | +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 2024 | May 2024 | CHANGE |
---|---|---|
134 | 142 | +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
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 2023 | May 2024 | CHANGE |
---|---|---|
13 Days | 25 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
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.