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 April 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

$235,019

$147/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$15,285(+7.0%)

Key Takeaway

Homes in Spartanburg have sold for 7% more than they did a year ago.

Summary: The median home sold price in Spartanburg was $235,019 in April 2024, up 7% from last year, and the median price per square foot was $147.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $130K$200K
+53.8%
2 $127K$155K
+22.0%
3 $216.8K$228.2K
+5.3%
4 $296.9K$313.9K
+5.7%
5+ $350.4K$370K
+5.6%

Summary: Spartanburg housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 53.8%, 2 bedroom homes increased by 22%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 5.6%.

Median Sold Price Compared To Nearby Cities

Spartanburg
+7.0%
Roebuck
+4.8%
Moore
-0.7%

Housing Supply in Spartanburg, SC

How many homes are available in Spartanburg, SC?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
557592+6.3%

Summary: The Spartanburg real estate market had 592 homes for sale in April 2024, a 6.3% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 13
+200.0%
2 7476
+2.7%
3 302325
+7.6%
4 140153
+9.3%
5+ 4035
-12.5%

Summary: The Spartanburg housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes decreased by 12.5%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
137134-2.2%

Asking Price vs. Sold Price

64 Homes Were Sold
Under Asking

38 Homes Were Sold
At Asking

21 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. 52% of homes here sold below asking price last month.

Summary: A total of 134 homes were sold or pending in Spartanburg in April 2024, down by 2.2% month-over-month. Of the 123 sold homes, 52% were sold under asking, 31% were sold at asking, and 17% 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

Apr 2023Apr 2024CHANGE
38 Days33 Days-14.7%

Summary: Homes in Spartanburg had an average of 33 days on market in Apr 2024, down by 14.7% compared to last year.

Breakdown of Home Sale Times

49 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

8 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 April 2024, 134 homes were sold in Spartanburg; 37% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% 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 11 Days Ago

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