Spartanburg, SC 29307 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

Market Trends & Context

Key Findings

1. The primary market indicator, median sold price $218,000, suggests recent transaction-level value for homes in the ZIP and should be the focal point for pricing and appraisal decisions.
2. The median listing price $310,000 sits well above the median sold price $218,000, which may indicate pricing friction between seller expectations and recent transaction outcomes; pricing gap between asks and sells appears to be present.
3. Extended median days on market 271 points to slower sales velocity, which, combined with a neutral market temperature, suggests a balanced but patient market where sellers may need to align price expectations with closed-sale evidence.
4. Supportive signals include rent and price trends that are both up—median market rent $999 and an upward price year-over-year trend—while interest rate pressure is moderate (moderate), indicating stable conditions that favor careful, data-driven listing strategies rather than aggressive pricing moves.

Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.