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 October 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

$239,968

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$8,068(+3.5%)

Key Takeaway

Homes in Spartanburg have sold for 3.5% more than they did a year ago.

Summary: The median home sold price in Spartanburg was $239,968 in October 2024, up 3.5% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $200K$137.5K
-31.3%
2 $144K$165.5K
+14.9%
3 $224.9K$234.9K
+4.4%
4 $309.2K$310K
0.2%
5+ $340K$400K
+17.6%

Summary: Spartanburg housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.3%, 2 bedroom homes increased by 14.9%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 17.6%.

Median Sold Price Compared To Nearby Cities

Spartanburg
+3.5%
Moore
+1.7%
Roebuck
-2.1%

Housing Supply in Spartanburg, SC

How many homes are available in Spartanburg, SC?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
583627+7.5%

Summary: The Spartanburg real estate market had 627 homes for sale in October 2024, a 7.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 10
-100.0%
2 8399
+19.3%
3 298320
+7.4%
4 168170
+1.2%
5+ 3338
+15.2%

Summary: The Spartanburg housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 19.3%, 3 bedroom homes increased by 7.4%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 15.2%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
92116+26.1%

Asking Price vs. Sold Price

59 Homes Were Sold
Under Asking

30 Homes Were Sold
At Asking

17 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. 55.7% of homes here sold below asking price last month.

Summary: A total of 116 homes were sold or pending in Spartanburg in October 2024, up by 26.1% month-over-month. Of the 106 sold homes, 56% were sold under asking, 28% were sold at asking, and 16% 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

Oct 2023Oct 2024CHANGE
17 Days45 Days+159.3%

Summary: Homes in Spartanburg had an average of 45 days on market in Oct 2024, up by 159.3% compared to last year.

Breakdown of Home Sale Times

39 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

9 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 October 2024, 116 homes were sold in Spartanburg; 34% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% 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 16 Days Ago

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