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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spartanburg is a neutral's market

Buyer's
Market

Difference Since November 2023

At the same time last year, Spartanburg was a Seller's Market.

Key Takeaway

Spartanburg is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Spartanburg, SC

How much do homes in Spartanburg, SC cost?

Median Sold Price

$239,997

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$8,838(+3.8%)

Key Takeaway

Homes in Spartanburg have sold for 3.8% more than they did a year ago.

Summary: The median home sold price in Spartanburg was $239,997 in November 2024, up 3.8% from last year, and the median price per square foot was $150.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $200K$57.5K
-71.3%
2 $145K$165K
+13.8%
3 $224.9K$234.9K
+4.4%
4 $313.9K$304.9K
-2.9%
5+ $339.9K$405K
+19.2%

Summary: Spartanburg housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 71.3%, 2 bedroom homes increased by 13.8%, 3 bedroom homes increased by 4.4%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes increased by 19.2%.

Median Sold Price Compared To Nearby Cities

Spartanburg
+3.8%
Moore
+2.2%

Housing Supply in Spartanburg, SC

How many homes are available in Spartanburg, SC?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
610657+7.7%

Summary: The Spartanburg real estate market had 657 homes for sale in November 2024, a 7.7% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 11
0.0%
2 9593
-2.1%
3 312343
+9.9%
4 168183
+8.9%
5+ 3437
+8.8%

Summary: The Spartanburg housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes increased by 8.8%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
11399-12.4%

Asking Price vs. Sold Price

62 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

11 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. 68.1% of homes here sold below asking price last month.

Summary: A total of 99 homes were sold or pending in Spartanburg in November 2024, down by 12.4% month-over-month. Of the 91 sold homes, 68% were sold under asking, 20% were sold at asking, and 12% 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

Nov 2023Nov 2024CHANGE
18 Days57 Days+217.1%

Summary: Homes in Spartanburg had an average of 57 days on market in Nov 2024, up by 217.1% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

18 Homes Were Sold
In 30 - 90 Days

13 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 November 2024, 99 homes were sold in Spartanburg; 29% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 13% 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 17 Days Ago

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