South Carolina Real Estate Market in 2022: Forecasts + Trends

By Clever Real Estate Updated September 1, 2023

South Carolina real estate trends

South Carolina real estate trends (May 2022)

How is the real estate market in South Carolina?
🏠 Average home value: $287,618	📈 0.52% home value increase month over month
💰 Median sale price: $363,900	⏳ 41 days on the market
🔑 Homes on the market: 13,857	📆 1.5 months of housing inventory
🏦 30-year mortgage rate: 7.08000%	💵 Average income: #N/A
State of the market: B+
Home values in South Carolina continue their downward trend, but homes are selling faster — going off of the market in as little as a month. However, if inventory continues to increase, this market may cool off.
_{Data last updated May 2022}*

With white sand beaches and a coastline dotted with islands, it's no wonder South Carolina has a booming tourism industry. In recent years, South Carolina has also become a major destination for retirees, families, and anyone seeking a taste of Southern charm.

Further inland, South Carolina's geography rises to meet the rolling Appalachian Mountains. Major cities range from beach communities like Hilton Head and Myrtle Beach to more urban areas including Charleston, Columbia, and Greenville.

The Palmetto State is known for serving up Southern delicacies like mustard-spiked barbecue, lowcountry boil, and shrimp and grits. Beyond its food tradition, South Carolina was the first state to host an opera and launched multiple dance crazes.

If you're thinking of buying or selling in South Carolina, these South Carolina housing predictions and stats can help you make an informed decision.

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Selling a home in South Carolina

South Carolina real estate market forecast for sellers
⏰ Homes are selling 28 days slower than the annual average	💰 Homes are selling for $5,394 more than the annual average
💸 Average listing commission: 2.82%	💸 Average buyer's commission: 2.81%

How to sell a home in South Carolina

Cost to sell a home in South Carolina

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Buying a home in South Carolina

How much home you can buy with $300,000 in...
🏠 Columbia: 2,069 sq ft	🏡 Myrtle Beach: 1,370 sq ft
🏡 Charleston: 1,245 sq ft	🏠 Spartanburg: 1,875 sq ft

Investing in South Carolina real estate

Best of South Carolina

Each month, we compare locations in South Carolina based on different criteria. This month, we're looking at levels of happiness and ranking the best counties in the state.

Happiest Counties in South Carolina
1. York County
2. Charleston County
3. McCormick County
4. Beaufort County
5. Greenville County

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Worst of South Carolina

Each month, we compare locations in South Carolina based on a different criteria. This month we're looking at levels of happiness data. These are the counties that ranked the worst in the state.

Least Happy Counties in South Carolina
1. Marlboro County
2. Barnwell County
3. Allendale County
4. Bamberg County
5. Dillon County

South Carolina resources

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Frequently asked questions about South Carolina real estate

Is it a buyer's or seller's market in South Carolina?

It is currently a seller’s market in South Carolina; sale prices are high and housing inventory is low. However, each city and town has its own trends, so it’s best to check in with a real estate agent to understand your local market.

Is South Carolina a good state to invest in real estate?

Yes, South Carolina is a good state to invest in real estate, especially in more populous cities like Charleston and Columbia. While that may be the case, investing requires a lot of preparation, such as planning out your finances and creating a long-term business plan. Read our guide to real estate investing to find out more.

Is it a good time to buy a house in South Carolina?

It might not be the best time to buy a house in South Carolina right now. Listing prices and mortgage rates in the state are very high, making it difficult to find a good deal. If you really need to buy, then you should work with a reliable real estate agent to help you find a property that fits your budget.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, Bankrate, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

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