Learn more about the housing market in South Carolina

Every state is unique when it comes to the real estate market. That’s why it’s critical to understand the market you live or operate in. Whether you’re renting, buying, or selling, it will impact many aspects of your life.

Key Takeaways

1. South Carolina’s housing market is stabilizing going into 2026, with modest price movement, rising inventory, and longer days on market indicating more balanced conditions.
2. Mortgage rates have eased from 2023 highs, contributing to slightly improved affordability, though rates remain above pre-pandemic levels.
3. Construction activity and permitting remain steady, supporting gradual supply growth and helping temper price acceleration across many metros.
4. Rental affordability continues to be a concern, especially in high-growth markets such as Charleston, Greenville, and Myrtle Beach.

South Carolina Housing Market Overview

Nicknamed the Palmetto State, South Carolina is a subtropical state in the southeast known for its Atlantic coastline, beaches, and a number of small islands. With the Blue Ridge mountains stretching into the northwest corner of the state, South Carolina is very geographically diverse. According to data from IBISWorld, Real Estate, Rental and Leasing was the most significant contributors to the state’s 2024 GDP, even above Manufacturing and Retail Trade. This suggests a notable housing market in the state.

Going into 2025, experts anticipated continued price growth and steady buyer interest in South Carolina housing, even as mortgage rates and affordability concerns tempered market activity. Through late 2025, home prices in the state have risen modestly year-over-year  with median prices around $379,500 to $383,100, while inventory and days on market indicate more balanced conditions than in recent peak years

In fact, historically high interest rates have seen a significant decrease across the country. The national average 30-year fixed mortgage rate in late 2023 approached 8%, but has settled now by December 2025 to just 6.18%. As we will discuss later in this article, a similar trend can be seen in the South Carolina housing market, reflecting easing inflation that is bound to benefit a growing demographic of prospective homeowners across the country.

South Carolina Market Trends

To understand the South Carolina real estate market, it’s important to keep up with trends. Let’s take a look at some key ones in South Carolina:

Note: These statistics are based on Redfin’s monthly housing data from November 2025.

Median Home Price 

The median price of a home in South Carolina as of November 2025 was $379,500 according to Redfin’s monthly housing market data. This is a decrease of 3.1% from November 2024. In Charleston, the most populous city in the state, the median price is significantly higher at $622,000, though itself is down 7.3% increase from November 2024. It is important to remember that in any state, especially one as geographically and economically diverse as South Carolina, statewide data is pulling from a plethora of housing markets experiencing a variety of different influences and factors.

Number of Homes Sold in November 2025

5,428 homes were sold in South Carolina in November 2025, which is a 3.1% decrease from the previous year. This number can be expected to increase in the summer months. It is important to keep in mind that nationally speaking, sales usually peak during the spring and summer months and slow in the winter. In fact, the National Association of Realtors (NAR) predicts that in February and March alone, sales activity increases by as much as 34% and prices by 3%.

Despite this, number of home sales from the previous three years have failed to reach the same peaks that were recorded in the summers of 2020 and 2021.

Median Days on Market 

Days on market (DOM) is a measure of the average length of time a home remains listed on the market before being put under contract. A lower DOM signals a highly competitive seller’s market with more pressure on buyers to make higher offers and remove contingencies. A higher DOM signals a buyer's market as sales are slower and sellers have less leverage.

The median DOM in South Carolina in November 2025 was 80 days, which is an increase of four from the previous year. This means that, on average, listings spend around two months on the market before being purchased. An increase from the previous year potentially suggests a market that is increasingly favoring buyers.

New Supply Statistics 

Census data show that South Carolina continued to authorize a substantial number of new housing units throughout 2025, with about 3,661 total private housing permits authorized as of August 2025, indicating steady construction activity into 2026. This ongoing expansion of housing supply is expected to help moderate price growth and improve affordability as the market continues to balance.

Property Tax Rate 

According to Rocket Mortgage, the average property tax rate in South Carolina is 0.57%. This is one of the lowest average rates in the country, higher than only five other states. The average annual property tax in the state is around $2,175.93. As previously mentioned, it is important to keep in mind that this statistic reflects the average of a lot of data in a populous state with significant geographic and economic diversity. Tax rates are likely to vary depending on the value of a home and its location in the state.  

Foreclosure Rate in Q1 of 2025 

In the first quarter of 2025, one in every 1,021 homes in South Carolina had a foreclosure filing, according to ATTOM. The state recorded 2,353 total filings and ranked 5th nationwide for foreclosure rate. This reflects a 42.87% year-over-year increase, despite a 7.47% decline from the previous quarter, indicating that foreclosure activity remains elevated in South Carolina even as short-term pressure has eased slightly.

Hottest Local Markets in South Carolina

1. Charleston

Located in the southeastern edge of the state near the Atlantic coast, Charleston is the most populous city in South Carolina. Its median home price is significantly higher than the statewide median at $622,000 in November 2025. Its median DOM is also lower than the statewide median at 67, suggesting that the market is comparatively competitive and favors sellers. Some of the most popular neighborhoods in Charleston are Downtown Charleston, Harleston Village, and South of Broad.

2. Columbia

Located near the center of the state, Columbia is the capital city of South Carolina and is the second-most populous behind Charleston. Its median home price in November 2025 was lower than the statewide median at $251,000, and saw a slight decline of 5.1% from the previous year. Its median DOM of 42 indicates that compared to the rest of the state, Columbia’s housing market is very competitive and favors sellers over buyers. Some of the most popular neighborhoods in Columbia are South Kilbourne, Shandon, and Earlewood. 

3. Mount Pleasant

Mount Pleasant is one of the most populous cities in South Carolina and is just northeast of Charleston in the southeast part of the state near the Atlantic coast. Its median housing prices in November 2025 were considerably higher than the statewide median at $913,000, which is a 13.1% increase from the previous year. Its median DOM of 60 suggests a market that is more competitive when compared to the state as a whole. Some of the most popular neighborhoods in Mount Pleasant are Park West, Carolina Park, and Dunes West.

Economic Factors Impact the South Carolina Housing Market

A holistic view of South Carolina’s housing market requires a basic understanding of the main economic drivers affecting the market. Let’s take a look at a few below.

Mortgage Rates 

Mortgage rates are a common cause of concern for would-be homeowners across the U.S. in 2026. As previously mentioned, national averages have dipped from last fall’s record highs, and South Carolina is no different. According to Zillow, South Carolina is currently seeing its 30-year fixed mortgage rates down to an average of 5.875%, down from almost 7.7% in late 2023. This accurately reflects predictions that interest rates in 2024 would settle but stay above an average of 6%.

Inflation and Cost of Living 

Mortgage rates are tied to inflation, another massive contributing factor to the affordability of housing and the state of housing markets in general. Inflation has increased the cost of living for many across the U.S., including in South Carolina. This means fewer people can truly afford to limit housing costs to less than 30% of their monthly income.

Population Changes and Demographics 

A changing population ca also have implications for the housing market. According to the U.S. Bureau of Labor Statistics, the unemployment rate in South Carolina is 4.4%. This rate is slightly higher than the average nationwide, and South Carolina is ranked 36th for its current rate. This is still a relatively low unemployment rate, which suggests a healthy and thriving economy that is bound to bring more potential homeowners to the state.

South Carolina Housing Market Predictions 2026 

As South Carolina moves into 2026, home prices have continued to rise, but at a slower pace than in earlier years. While values remain elevated across many markets, moderating mortgage rates and gradually expanding housing supply have helped ease competitive pressure, suggesting that price growth is likely to continue at a tempered rate rather than accelerate in the year ahead.

Likelihood of South Carolina Housing Market Crash 

Though continually rising housing prices in South Carolina may seem concerning, experts have maintained that a crash is significantly unlikely. There are many reasons for this, including a healthy economy signified by low unemployment rates and the decline and stabilizing of interest rates. The market seems poised to continue appreciating, but it is unlikely to reach any significant or concerning threshold in the near future.

Forecast for the U.S. Housing Market

Now that we’ve looked at South Carolina’s housing market, let’s zoom out a little bit. What about the U.S. housing market? What do you need to keep an eye on in the coming years?  

The United States' current median existing-home sale price is around $415,200 per the National Association of Realtors. The inventory, though, remains low. A balanced market typically has a 5-to-6-month supply, but the current figure is 3 months, keeping conditions constrained.

We’re currently in a seller’s market with buyers looking at continued rising house prices—although they are rising at a slower pace compared to previous years.. The same trend can be seen with renters. Housing continues to appreciate, in general.

Dr. Lawrence Yun, Chief Economist and Senior Vice President of Research, National Association of Realtors, believes the housing market will appreciate 15 to 25% over the next five years. He thinks that the seller’s market will continue because housing inventory will remain low. In 2026, he predicts that existing home sales will rise an additional 13%. Yun expects mortgage rates to stabilize at the lower end of the current 6-7% range through 2025 and 2026 as the Federal Reserve continues gradual rate cuts. There's an anticipation of a more balanced market in the coming years, with moderate price growth and a greater amount of Americans re-entering the market.

Hybrid work also impacts the housing market. This shift in work culture means suburbia will continue to grow. States like Texas, the Carolinas, Tennessee, and Florida should see continual growth.

The number of single-family homes built decreased over the past couple years while the number of multi-family homes increased due to lower prices and a demand for affordable housing. Year-to-date single-family housing starts were down about 7.1% in 2025, whereas starts for buildings with five or more units were up roughly 14.5% Higher mortgage rates and inflation (affecting price of materials) were the main causes.

Lower income households continue to struggle in the current housing market. This trend appears likely to continue into the foreseeable future. According to the National Association of Home Builders, approximately 74.9% of U.S. households were unable to afford a newly built median-priced home in 2025. Without enhanced supply or helpful subsidies, the outlook is that many Americans will still wrestle with housing affordability in the years to come.

South Carolina Rental Market

The rental and buying market are obviously closely linked. When home prices fall, landlords are more likely to buy properties to rent out. Home prices and rental prices are correlated as well because a hot market means prices rise.

Renter affordability remains a concern in South Carolina going into 2026, particularly in fast-growing metros such as Charleston, Greenville, and Myrtle Beach. In 2022, 22.4 million households paying rent said it was unaffordable, which is the highest that figure has ever been, according to a January report from the Joint Center for Housing Studies at Harvard University. The study found that half of all renters in the United States spent over 30% of their income on rent and utilities.  

Rent growth has cooled through 2024 and 2025 as new multifamily construction and moderating demand added supply, but rents in several South Carolina metros remain elevated relative to pre-pandemic levels. Recent rental indexes indicate slower year-over-year gains rather than declines, meaning affordability pressures persist even as conditions become more balanced.

Higher borrowing costs have also limited new multifamily investment, which may constrain future supply growth. The Federal Reserve’s Senior Loan Officer Opinion Survey reports weaker demand for multifamily loans over the past year, reflecting tighter financing conditions and softer transaction activity heading into 2026

The pandemic caused a housing disparity that isn’t going away anytime soon. Unaffordable housing is a serious issue across America. Whether high rents or low income is the main cause doesn’t change the fact that this problem is widespread. 

This short summary leads directly into South Carolina’s current rental market. Below are just a few of the current trends for South Carolina’s rental market based on data pulled from Zillow:

South Carolina Rental Market Key Trends 

• Median rent: $1,800

• Month-over-month rent change: $0

• Year-over-year rent change: $0

• Available rentals: 9,575

Conclusion

South Carolina’s geographically diverse housing market continues to show signs of stabilization heading into 2026, with slower but steady price growth, rising inventory in many metros, and more balanced buyer–seller conditions compared with peak pandemic years. Overall, the state’s market appears healthy, but trends vary locally, so buyers and sellers should continue to watch key factors such as mortgage rates, population growth, and new construction activity as conditions evolve.

FAQs

What is the overall outlook for South Carolina’s housing market in 2026?

The market is expected to remain stable with slow, sustainable price growth, as moderating mortgage rates and expanding supply reduce the intense competition seen in prior years. Conditions vary by metro, but overall trends point toward balanced buyer–seller dynamics.

Is South Carolina currently a buyer’s or seller’s market?

Many areas are shifting toward balanced or slightly buyer-leaning conditions. Inventory has increased and median days on market have risen, giving buyers more negotiating power, even though desirable metros still see strong demand.

Are home prices still rising in South Carolina?

Price trends are mixed but generally modest. Some metros continue to see mild appreciation, while others have experienced small year-over-year declines. Overall, prices are more stable than in peak pandemic years.

How do mortgage rates affect the South Carolina market going into 2026?

Mortgage rates have declined from late-2023 highs, easing affordability compared to prior years. However, they remain above pre-2020 norms, meaning buyers still face higher borrowing costs even as rates gradually stabilize.

What should buyers and investors watch most closely in 2026?

Key factors include mortgage rate trends, new construction activity, population and job growth, and local inventory levels. These variables will shape whether conditions tilt further toward buyers or remain moderately competitive in specific metros.