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.

How the South Carolina housing market stacks up

Older couple walking by the water
Cavan-Images / Shutterstock
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.

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.

About the Author

Doug Whiteman

Doug Whiteman


Doug Whiteman is the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."