In a year when more Spartanburg homes are selling and the median price is up, why are homes taking longer to sell?
Here are the September 2026 numbers from the Spartanburg Association of REALTORS for its Spartanburg market area. Closed sales rose 12.7% from September 2025, and the median sales price rose 3.8% to $259,495. Over the same period, days on market went from 47 to 57 and inventory grew 31.9% to 691 homes. The resale home at the median price has a new kind of competitor, and that competitor sells a lower monthly payment as well as a house.
The Discount the Median Doesn't Count
Start with the line most people skip. The SAR Local Market Update for September 2026 has a footnote saying the median sales price and percent of list price received "do not account for sale concessions and/or downpayment assistance." If a seller holds the price and covers $8,000 of the buyer's closing costs, the median records the full price.
Even without concessions, the discount shows. In September 2026, sellers in the Spartanburg area received 97.0% of list price, the lowest percentage among the SAR market areas we compare in this post. On a $259,495 sale, the three-point gap between list and sold is real money, and any concession comes on top of it.
The other half of the story is supply. From January through September 2026, the Spartanburg area had 2,270 new listings against 1,130 closed sales. In the same stretch of 2025, it had 1,767 new listings and 1,016 sales. That means 503 more listings came on the market this year while only 114 more sales closed. Last year, about 1.7 homes were listed for every home sold. This year it's close to two. Buyers are still buying, but sellers are listing faster than buyers absorb homes, so inventory builds up and the average listing waits longer. Year-to-date days on market rose from 41 to 61.
The median price can rise in a market like this as long as sellers protect the sticker price and give ground on other terms. Look at the other new listings near that $259,000 sticker price to see where that ground goes.
Who Else Is Selling Near $259,000
Within roughly 10 to 15 minutes of downtown Spartanburg, several new-construction communities start at or below the area median, and their builders were advertising financing offers or price cuts in October 2026.
| Community | Builder | Location | Advertised starting price | Advertised offer, late October 2026 |
|---|---|---|---|---|
| Fairforest Towns | Smith Douglas Homes | 300 Old Blackstock Road | From $209,990 | 4.99% 5/1 ARM, 6.636% APR, on select homes |
| Dillon Village | Smith Douglas Homes | Canterfield Place, East Spartanburg | From the $240s | Reduced prices on Canterfield Place homes |
| Ransdell Pointe | DRB Homes | Off Plainview Drive near East Main Street | From $206,990 | Two quick-move-in townhomes |
| Mayfair Village | Mungo Homes | 2033 Mayfair Mill Ave | Low $200s | As low as 4.49%, 5.876% APR, or up to $15,500 in savings with its lender partner |
Some details matter here. Fairforest Towns is a 122-homesite community, and Smith Douglas's payment example there uses rates quoted October 2, 2026. At Ransdell Pointe, the two quick-move-in townhomes were listed as available now at 502 W Norvell Court for $209,990 and 609 E Norvell Court for $212,990. Mayfair Village is gated, showed 23 new homes for sale, and offers floor plans from 1,148 to just over 2,400 square feet.
None of these pages listed an end date for its offer. Treat each one as advertised as of late October 2026 and confirm it with the builder before counting on it.
A Rate Is Something Resale Sellers Can't List
Now add the rate environment. SAR's September 2026 market report notes that the Federal Reserve raised its benchmark rate by a quarter point on September 16. According to Freddie Mac, the 30-year fixed-rate mortgage moved above 7% in late September, up from an August average of 6.67%.
So a buyer touring a $259,000 resale home on the Westside and a new Mayfair Village home in the low $200s may see two very different financing quotes. One is at the market rate above 7%. The other is a builder-lender offer advertised as low as 4.49%. A typical resale seller has no comparable tool built into the listing, so the gap gets closed through time on market, price, or concessions the median doesn't record.
Builders also cut prices when a home sits. Smith Douglas marked down a Dillon Village home at 1219 Canterfield Place from $290,990 to $269,990, which put it within about $10,000 of the Spartanburg area's September median. That builder had 10 quick-move-in homes advertised across Spartanburg and Inman at the time. A finished new home that hasn't sold costs the builder money every month, so those markdowns tend to arrive in the same season resale sellers are watching their own days on market climb.
In September 2026, new homes with rate offers and resale homes were listed at the same prices while resale homes took longer to sell.
How Spartanburg Compares With Its Neighbors
The SAR area reports show that the pattern varies by town. Boiling Springs and Lyman show two different versions.
| September 2026, SAR area | Median sales price | Days on market | Inventory change, year over year | Percent of list received |
|---|---|---|---|---|
| Spartanburg | $259,495 | 57 | +31.9% | 97.0% |
| Boiling Springs | $308,450 | 81 | +29.2% | 98.5% |
| Lyman | $356,950 | 45 | -33.3% | 100.0% |
Boiling Springs had fewer new listings this year, down 8.6% year to date, but closed sales fell faster, down 17.8%, so inventory still rose. September days on market more than doubled, from 38 to 81. Sales are slowing there while the number of listings stays about the same. In Lyman, inventory dropped from 81 to 54 and September sellers received 100.0% of list price. That market is tightening.
Spartanburg has a mix of its own. More homes are selling, more homes are listing, and the entry-level price band is crowded with builder inventory.
The top of the city market got new construction too. Toll Brothers announced on October 16, 2026, that its sales center and model at Toll Brothers at Everly, 7177 Myrtle Burl Way, were open, with luxury single-family homes priced from the upper $400,000s. Its plans start at $464,995, and two quick-move-in homes at $669,000 and $734,000 are shown for December 2026 move-in. That gives move-up resale homes around Spartanburg a new-construction comparison they didn't have last fall.
What Changes at the Negotiating Table
If you're comparing Spartanburg with nearby towns, these numbers change what you should ask about any resale listing near the median:
- Ask about terms, not only price. At 97.0% of list and 57 days on market in September, Spartanburg-area sellers were already giving ground. Concessions toward closing costs or a rate buydown don't show up in the median, so a home's sold price can make the market look stronger than it is for the people doing the deals.
- Compare monthly payments, not sticker prices. A resale home at $259,000 and a builder home at $240,000 aren't directly comparable until you have both financing quotes in hand. A 5/1 ARM like the Fairforest Towns offer also works differently from a 30-year fixed, so get the full terms from the lender.
- Expect builders to show up as comps. When a new home a few minutes away is marked down $21,000, as the Canterfield Place home was, buyers and appraisers will look at it next to your listing.
- Use the extra time. Inventory rose to 691 homes in September 2026, so buyers in the Spartanburg area have more room for inspections and contingencies than they had a year ago.
Sellers face the same mechanics from the other side. A resale home priced near the median has to win on something a builder can't offer, such as an established lot, mature trees, a finished yard, or a location closer in. Pre-listing repairs that remove inspection objections cost a seller less than days on market after the price-cut stage.
This post is general information, not legal, tax or financial advice. Before acting on any loan offer or concession, confirm your situation with a qualified lender or other professional.
Quick Questions
Are the downtown apartment projects adding to the supply? Not until late 2027 at the earliest. In September 2026, Upstate Business Journal reported that construction began on Address Beaumont Mill, a 275-apartment development at 553 Isom St., with leasing projected for the fourth quarter of 2027 and completion in early 2028. The Herald-Journal reported that City Council approved a fee-in-lieu-of-taxes package on September 14 for SCG Development's 48 apartments at 120 E. Kennedy St. Both projects are rentals, so neither one adds homes for sale.
What area does the "Spartanburg" SAR report cover? It is one of the association's local market areas, reported from the SAR MLS. The association serves Spartanburg and Union Counties, and the Spartanburg area is reported separately from Boiling Springs, Inman, Lyman and the other towns.
Are the builder rates still available? They were advertised in late October 2026, with no end dates posted. Confirm with the builder and its lender before planning around one.
If you're weighing a resale home against a builder's rate offer, or pricing a Spartanburg listing that will sit next to new construction, Pres & Jess (Team Inglee) can compare the two homes and their financing quotes side by side with you. Request your free home valuation, and we'll show you how your home compares with the new construction nearby.
