Current home values in South Carolina

Home values have been rising throughout South Carolina and are up 12.7% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $426,567, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in South Carolina: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $426,567 home at 3.33% would give a typical South Carolina homebuyer a monthly payment of $1,500, assuming a 20% down payment.

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How the South Carolina housing market stacks up

Older couple walking by the water
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Couples can take a secluded walk by the water in South Carolina

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in South Carolina, they're predicted to rise 4.8%.

Homes right now are going on the market in South Carolina at a median price of $129 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

South Carolina home prices over the last 10 years

Year Avg. Price
2020* $189,966
2019 $168,513
2018 $160,333
2017 $149,792
2016 $139,008
2015 $130,125
2014 $126,692
2013 $123,775
2012 $121,850
2011 $123,300
2010 $129,983
2009 $133,000

*2020 price average through March 31, 2020.

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How much for an average-sized home?

Here's what a 2,500-square-foot home in South Carolina is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $321,582
2019 $272,500
2018 $257,500
2017 $245,000
2016 $225,000
2015 $210,000
2014 $205,000
2013 $202,500
2012 $197,500
2011 $202,500
2010 $212,500
2009 $215,000

*2020 price average through March 31, 2020.

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