Spartanburg Real Estate Market Snapshot: What Buyers and Sellers Need to Know

The Spartanburg housing market continues to evolve, and whether you’re looking to buy or sell, staying informed is key to making the best move. Here’s a concise look at the latest trends and practical advice for both sides of the transaction.

Spartanburg, SC Real Estate Market Overview

Inventory remains tight in Spartanburg, with just 495 active listings and a pending ratio of 28%—meaning roughly one in four homes on the market is already under contract. The average days on market (DOM) for active listings is 81, indicating that homes aren’t flying off the shelves, but well-priced properties are still moving. Average list prices hover around $336,000 for active homes, while pending sales show slightly lower averages, suggesting buyers are negotiating some deals.

Advice for Buyers

Act Decisively, But Don’t Rush: With an average DOM of 81 for active listings, buyers have a bit of breathing room to make decisions, but competition is still present—especially in the $0–$200k range, where the pending ratio is much higher (44%). If you find a home you love in this price bracket, move quickly.

Negotiate Smartly: The average sale-to-final list price ratio is strong (98%), so expect to pay close to asking price, particularly in popular segments. However, the gap between active and pending list prices suggests some room for negotiation.

Watch for Opportunity in Higher Price Segments: Pending ratios drop in the $500k+ segment (just 22%), and homes stay on the market longer. This could mean more leverage for buyers seeking luxury or move-up homes.

Advice for Sellers

Price Realistically: Homes that are priced right sell close to their final list price. Overpricing can lead to extended days on market, which we’re seeing in higher price brackets and some mid-range segments.

Prepare for a Slightly Longer Sale: While entry-level homes move fastest, higher price points may require patience and thoughtful marketing. Highlight unique features and ensure your home shows well to stand out.

Monitor Inventory Trends: With only about half a month’s supply across most segments, sellers remain in a favorable position—especially in the $0–$200k and $200k–$500k ranges.

Looking Ahead

Spartanburg’s market is stable but competitive. As inventory remains limited and demand steady, prices should hold firm, especially in the most sought-after price ranges. Watch for gradual shifts as new listings enter the market and interest rates fluctuate—these could impact both how quickly homes sell and buyer negotiating power.

Bottom Line

Whether you’re buying or selling, understanding the numbers gives you an edge. For tailored advice or to discuss your next move, reach out to the Livian Estates Team at KW Greenville Upstate SC—your trusted Spartanburg real estate experts. For more detailed stats or a custom market analysis, contact us at 864-881-1258.

Download Spartanburg Real Estate Data Overview here.