South Carolina real estate trends (May 2022)
How is the real estate market in South Carolina?
🏠 Average home value: $280,637
📈 2.04% home value increase month over month
💰 Median sale price: $338,900
⏳ 45 days on the market
🔑 Homes on the market: 6,580
📆 0.5 months of housing inventory
🏦 30-year mortgage rate: 2.97%
💵 Average income: $67,167
State of the market: B+
Listing prices in South Carolina are rising quickly, however homes are starting to spend longer on the market. Since buyers are now willing to wait for better prices, the market will most likely start to 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.
Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!
Selling a home in South Carolina
South Carolina real estate market forecast for sellers
⏰ Homes are selling 10 days faster than the annual average
💰 Homes are selling for $10,641 more than the annual average
💸 Average listing commission: 2.90%
💸 Average buyer's commission: 2.90%
How to sell a home in South Carolina
- The Best Low Commission Real Estate Brokers
- Top Real Estate Agents in South Carolina (June 2021 Rankings)
- 8 Steps to Selling a House in South Carolina
- How to Sell a House By Owner in South Carolina (2021 Update)
- 5 Best South Carolina Flat-Fee MLS Companies in 2021
- 5 South Carolina We Buy Houses for Cash Companies & Alternatives (2021 Rankings)
Cost to sell a home in South Carolina
- The Average South Carolina Real Estate Commission (2021)
- The Ultimate Guide to South Carolina Real Estate Taxes
Buying a home in South Carolina
How much home you can buy with $300,000 in...
🏠 Columbia: 2,041 sq ft
🏡 Myrtle Beach: 1,339 sq ft
🏡 Charleston: 1,017 sq ft
🏠 Spartanburg: 1,899 sq ft
- How to Save with a Home Buyer Rebate
- 8 Definitive Steps to Buying a House in South Carolina
- 5 Best Neighborhoods in Charleston, SC to Live in 2019
- The Best Time to Buy a House in South Carolina
- Everything You Need to Know About Moving to South Carolina
Investing in South Carolina real estate
- Top 5 Best Real Estate Investment Markets in South Carolina
- The Ultimate Guide to Flipping Houses in South Carolina
- A Beginner's Guide to Buying an Apartment Building
Best of South Carolina
Each month, we compare cities in South Carolina based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.
Most Affordable Cities in South Carolina
Worst of South Carolina
Each month, we compare cities in South Carolina based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.
Least Affordable Cities in South Carolina
1. Hilton Head Island-Bluffton
2. Myrtle Beach-Conway-North Myrtle Beach
3. Charleston-North Charleston
South Carolina resources
- South Carolina Real Estate Commission
- South Carolina's real estate license verification
- South Carolina's real estate agent code of conduct
- South Carolina's disclosure forms
- Transfer taxes in South Carolina
- Home buying assistance programs in South Carolina
Frequently asked questions about South Carolina real estate
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.
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.
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.
Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, S&P Global, 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.