The South Carolina housing market in February 2025 presents a complex landscape with varying trends across different metrics. The Median Sales Price has seen a modest increase of 0.7% year-over-year, reaching $381,700. This indicates a relatively stable pricing environment, although the growth is not as robust as the Median List Price, which has risen by 5.6% to $414,000. This disparity suggests that sellers are optimistic about the market, potentially leading to a widening gap between asking and selling prices.

In terms of Price Per Square Foot, the Median Sales Price per square foot has increased by 3.3% to $210, while the Median List Price per square foot has surged by 6.5% to $229. This further underscores the trend of rising list prices, which may not be fully matched by sales prices, reflecting a cautious buyer sentiment or negotiation dynamics.

The volume of Homes Sold has decreased by 6.7% year-over-year, with 4,988 Homes Sold in February 2025. This decline in sales volume is accompanied by a 3.2% drop in Pending Sales, totaling 6,401. New Listings have also decreased by 2.8%, amounting to 7,739. Despite these declines, inventory has increased by 7.0% to 23,581, suggesting a shift towards a more balanced market with more options available for buyers.

The Months of Supply, a critical indicator of market balance, has seen a significant increase of 60.0% year-over-year, reaching 4.7 months. This substantial rise indicates a move towards a more buyer-friendly market, as the increased supply gives buyers more leverage in negotiations.

The Median Days on Market have increased by 10.0% to 84 days, reflecting a slower pace of sales. This trend is consistent with the increase in inventory and Months of Supply, suggesting that homes are taking longer to sell in the current market environment.

The average sale to list ratio has slightly decreased by 0.3% to 97.8%, indicating that homes are selling closer to their list prices, but with a slight downward adjustment. The percentage of Homes Sold above list price has also decreased by 1.6% to 12.7%, further highlighting the shift towards a more balanced market.

Price Drops have increased by 4.2% to 25.1%, suggesting that sellers are adjusting their expectations in response to market conditions. Additionally, the percentage of homes going off the market in two weeks has decreased by 4.9% to 29.6%, indicating a slower pace of transactions.

Overall, the South Carolina housing market in February 2025 is characterized by rising list prices, increased inventory, and a slower pace of sales. While sellers remain optimistic, buyers are exercising caution, leading to a more balanced market dynamic. As the market continues to evolve, stakeholders should closely monitor these trends to make informed decisions.