The first quarter of 2025 has been an interesting one for the Upstate real estate market. From my perspective, January kicked off with plenty of conversations—buyers and sellers alike wanting to know my take on where things are headed this spring and how the market has shifted from the whirlwind of the early 2020s. Every discussion was unique based on individual goals, but the overarching themes remained consistent:
Gone are the days of cash buyers throwing money at homes well above asking price. Gone are the days of multiple offers within hours of listing. Gone are the days of buyers having to make one of the biggest financial decisions of their lives in under 24 hours. And to all of that, I say—thank goodness! The frenzy wasn’t sustainable for the Upstate real estate market, and in hindsight, it wasn’t always beneficial for buyers either.
For The Sellers
On the seller side, I’m seeing a common challenge: many homeowners who purchased within the last few years are now realizing they may not have as much equity as they expected. This is leading to some tough decisions about whether selling now is the right move. For those moving forward, making their home stand out is key—especially when competing with new construction, even if those homes aren’t direct comparables (I’ll talk more about this in this week’s Saturday Morning Chat. Click Here to Subscribe to my You Tube Channel to be notified when it’s live!)
So, how do sellers stand out? In one word—pricing. Curb appeal, cleanliness, and cosmetic updates still matter, but competitive pricing is the real game-changer. Even a home with shag carpet and paneled walls will sell if priced appropriately. It may take longer to attract the right buyer—especially since most buyers today aren’t looking for major fixer-uppers—but the right buyer will come.
For the Buyers
Buyers, on the other hand, are facing a different challenge: finding the right home is taking longer, which means more days on the market. It seems counterintuitive—fewer buyers should mean more inventory, right? But many homeowners are holding onto their 2-3% interest rates and simply don’t have to move. So while buyers have more options than they did a couple of years ago, if you have a specific vision for your next home, patience is key. The good news? You no longer have to make a split-second decision. You can actually sleep on it before making an offer. Plus, sellers are more open to offering closing cost assistance (depending on the offer price and terms), which is a definite win for buyers.
Bottom Line!
The Upstate real estate market is in a transition period, trending toward a more balanced market. But with inventory levels still tight, we’re technically still in a seller’s market. Looking ahead to spring, I expect more of the same—just with a busier pace. Interest rates have come down since January and are currently hovering in the mid-6% range, which could bring more buyers back into the market. And with warm weather on the horizon, we’ll start seeing more homes hitting the market as well.
