South Carolina Real Estate Summary

The South Carolina real estate market is mixed.  Houses in communities along the coast are selling faster than houses inland.  Inland communities are seeing a sagging economy with high unemployment rates.  With a stalled economy, overall, South Carolina relocation is not popular for many young families.

Overall, the state average for South Carolina homes is $95,000.  In resort areas like Myrtle Beach, real estate is higher priced and in demand.  The average home sale price is $250,000, with houses selling on the Atlantic Ocean selling for closer to a million dollars.  There are more buyers than sellers, which results in houses only being on the market for ten to thirty days.  Even with more buyers, sellers are only receiving 90-95% of the asking price for the house. 

Charleston real estate is decreasing.  Many of the homes are historic, and when they do sell, it is for $250,000-$300,000.  Houses sit on the market for 60-90 days and receive close to 95% of their asking price.

Waterfront properties are townhouses, condominiums and multi-level buildings.  The population along coastal towns is mainly made up with retirees, baby boomers and tourists.  The locals support the area in service related jobs.  Inland, manufacturing and tobacco industries are the main job suppliers.