📈 Carolinas Market Update: North Carolina & South Carolina (Spring–Summer 2025)

North Carolina Highlights

• Steady price growth & rising inventory: The median home price in NC hit $387,600 in May 2025, up 0.8% year-over-year. Meanwhile, available listings jumped 23.7%, with 59,338 homes on the market in April zillow.com+9houzeo.com+9axios.com+9redfin.com.The days on market also increased to 42 days, reflecting more balance between buyers and sellers houzeo.com+2redfin.com+2rocket.com+2.

• Triangle region cooling off: In Wake, Durham, Orange, Johnston, and Chatham counties, inventory surged ~30%, easing pressure on buyers. February’s median sales price in the region was about $431,000 thestate.com+10axios.com+10bankrate.com+10.

• Charlotte metro remains seller-friendly: Charlotte-area median price is now $385,000 (March 2025), growing 2.7% year-over-year. However, rising inventory hints at more negotiating power for buyers rocket.com+3axios.com+3houzeo.com+3.

• Longer market cycles statewide: From Bankrate and trading economics data: homes are taking roughly 63 days on average to sell in NC, up from ~49 days last year tradingeconomics.com+15bankrate.com+15ncrealtors.org+15.

Key Takeaway: NC’s housing market has shifted toward a more balanced state—with moderate price gains, increased listings, and longer selling times—especially outside of tight urban pockets.

South Carolina Snapshot

• Moderate price growth with growing supply: In May 2025, the median home price in SC averaged $392,200, a 1.6% rise from last year redfin.com+3houzeo.com+3axios.com+3redfin.com. Listings increased ~13.7%, totaling about 37,838 homes for sale in May bankrate.com+3redfin.com+3houzeo.com+3. Median time on market is around 66 days .

• Balanced to buyer-friendly market: Homes sold above list price only 14% of the time, while the sale-to-list ratio was about 98%, indicating less competition tradingeconomics.com+15redfin.com+15ncrealtors.org+15.

• Local trends slowing: In Columbia (Richland County), listings are up 57% from April to May, and median list price increased by 9.7%—though days on market remain extended ncrealtors.org+6axios.com+6youtube.com+6rocket.com.

• Investor opportunity & caution: A national uptick in “zombie foreclosures” hit SC with a 31% increase in abandoned homes in Q1 2025 the-sun.com. Still, SC REALTORS® data notes that inventory climbed 29.1%, median prices held steady around $340,000, and days on market increased to 69 days scr.stats.showingtime.com.

Key Takeaway: SC is leaning toward a buyer’s market—characterized by rising inventory, longer listing periods, and less seller bargaining power. However, selective metro areas still offer niche opportunities.

💡 Why These Trends Matter for Appraisals

1. Valuation comps shifting: In balanced markets, recent sales at or below list price affect comparable assessments. Adjust your comp strategy accordingly.

2. Time-to-sale adjustments: A property lingering 2–3 weeks longer than historical averages may indicate a downward adjustment in value or increased concessions.

3. Coverage for climate and foreclosure risks: SC’s rise in zombie foreclosures and NC flood-risk zones may impact insurability and appraised values. Weigh these risks.

4. Macro contexts—rates & affordability: While not state-specific, higher mortgage rates (~6–7%) and shifting economic conditions influence buyer demand, affordability, and ultimately, appraisal figures.

🛠️ Client Strategies

For Buyers:

• Use the slower pace to your advantage—negotiate on price & terms.

• Shop sub-markets: e.g., Charlotte suburbs or SC metros like Columbia or Greenville.

• Pre-approve financing early—rates may fluctuate.

For Sellers/Investors:

• In NC, price competitively. In SC, factor in longer time on market and build in flexibility.

• Highlight property upkeep and risk mitigation (e.g., erosion control, flood resilience).

• Watch emerging growth zones—Triangle, Charlotte suburbs, Greenville—for comps and developing demand.

📊 North Carolina Metro Breakdown (May 2025)

Charlotte / Mecklenburg County

• Inventory & Listings

  • 5,318 homes actively for sale in May in Charlotte — up 8.1% from April (rocket.com).

  • Mecklenburg County saw 1,369 homes sold, down 5.2% MoM; 52% sold below asking price (rocket.com).

• Price Movements

  • Charlotte saw YoY median price growth: +7.3% for 1‑bed units, +0.7% for 3‑beds, +6.4% for 4‑beds (rocket.com).

  • Median sale price in NC: $387,600 (+0.8% YoY) (redfin.com). Charlotte MSA median reached $405,000 in Jan 2025 (+5.9% YoY) (loanpronto.com).

• Days on Market

  • Citywide timetable: 64 days average in 2025 (en.wikipedia.org, loanpronto.com).

  • Mecklenburg County: 31 days average, up 31.3% YoY; 69% of homes sold within 30 days (rocket.com).

Raleigh–Durham–Cary (Triangle)

• While specific months' housing metrics weren’t directly available, strong economic underpinnings from job growth and buyer competition persist, despite rising inventory boosting negotiating leverage (Zillow economist’s experience in Raleigh) (businessinsider.com).

📉 South Carolina Metro Breakdown (May 2025)

Greenville

• Sales & Pacing

  • 309 homes sold (-/+) up 18.8% MoM; 57% sold under asking (rocket.com).

  • Average days on market: 41, up 26.1% YoY (rocket.com).

• Inventory Trend

  • Inventory reached ~2,445 homes in 2025 (+18.4% YoY) (reventureapp.blog).

  • One report shows 5,681 homes for sale (+44% YoY), with 4.3 months’ supply (greenvillerealestatehub.com).

Columbia

• Listings jumped dramatically: 1,415 homes active (+57% MoM from 901) (rocket.com).

• Increases across all bedroom types (e.g., 1‑beds +83%, 3‑beds +62%) (rocket.com).

Other SC Areas

• Charleston – luxury market median price $588,900 (+2.9%), homes pending in ~16 days (intempuspropertymanagement.com).

• Summerville & Greenville saw strong YoY price increases (+15.3% & +13.2%, respectively) .

🔍 Summary Table

Metro Area	Active Inventory	Median Price	Avg Days on Market	% Selling Below Asking
Charlotte MSA	5,318 homes (+8% MoM)	$405K (+5.9% YoY)	64 days	52% under asking (Meck.)
Mecklenburg County	—	—	31 days avg	52% under asking
NC (statewide)	59,338 homes (+23.7% YoY)	$387.6K (+0.8% YoY)	42 days	21.2% sold above list
Greenville, SC	2,445–5,681 homes (+18‑44%)	$427K (+13.2% YoY)	41 days	57% under asking
Columbia, SC	1,415 homes (+57% MoM)	—	—	—
SC (statewide)	37,838 homes (+13.7% YoY)	$392.2K (+1.6% YoY)	66 days	14% above list
Charleston, SC	—	$588.9K (+2.9% YoY)	16 days to pending	—

📚 Resources & Data Links

1. Redfin, NC housing market (May 2025) – data on median price, inventory, days on markethttps://www.redfin.com/state/North-Carolina/housing-market redfin.comtradingeconomics.com+5redfin.com+5redfin.com+5

2. Redfin, SC housing market (May 2025) – state trends, supply & demand insightshttps://www.redfin.com/state/South-Carolina/housing-market 

3. Zillow ZHVI, NC & SC – home-value index & time-to-pending data

   • NC: https://www.zillow.com/home-values/36/nc/ zillow.com+1zillow.com+1

   • SC: https://www.zillow.com/home-values/51/sc/ zillow.com

4. Bankrate & TradingEconomics – days-on-market and mortgage trends

   • NC days on market: https://www.bankrate.com/real-estate/housing-market/nc/ redfin.com+15bankrate.com+15tradingeconomics.com+15

   • SC days on market: see SC Realtors® report & Fred data zillow.com+4scr.stats.showingtime.com+4en.wikipedia.org+4

5. NC REALTORS® monthly housing reports – statewide & county-level snapshot PDFshttps://www.ncrealtors.org/resources/news-data/market-data/ ncrealtors.org

6. Axios articles (Charlotte & Triangle) – metro-area specifics

   • Charlotte pricing & development: https://www.axios.com/local/charlotte/... rocket.comaxios.com

   • Triangle inventory surge: https://www.axios.com/local/raleigh/... axios.com

7. ATTOM via The State – zombie foreclosure trend in South Carolinahttps://www.thestate.com/news/state/south-carolina/... rocket.com+3the-sun.com+3thestate.com+3

8. Alex Horton/SC REALTORS® market activity – April–May SC metricshttps://scr.stats.showingtime.com/docs/... scr.stats.showingtime.com