Greenville & Lake Keowee Mid-Year Market Update 2025

The Upstate of South Carolina is no longer a “best-kept secret.” More people are discovering Greenville, Lake Keowee, and the surrounding areas as ideal places to relocate, retire, and invest. My team and I have helped dozens of families make that move in just the past year, and one of the most common questions I hear is:

“Will, how’s the market? Should I wait? Are prices about to crash?”

Let’s break it all down — starting at the national level and then zooming in on what’s happening here in Greenville and Lake Keowee.

The U.S. Housing Market in 2025: Big Picture Trends

Economic Uncertainty

At the national level, the economy is in a state of cautious optimism mixed with volatility. Trade policy under President Trump has created ups and downs in consumer sentiment, with the stock market swinging and Americans unsure of what’s next. Add in the ongoing costs of natural disasters, higher insurance premiums, and global conflict risks, and you’ve got a recipe for cautious spending.

Real Estate Prices Are Not “Overinflated”

One misconception I hear often is that home prices nationwide are astronomically overpriced. In reality, prices are only about 9–10% above where they should be on the long-term trend line. Certain hot markets like Austin, Boise, and parts of Florida have seen corrections, but overall the market isn’t in a “bubble.”

The Cost of Borrowing

Mortgage rates remain a major talking point. Right now, the 30-year fixed mortgage hovers around 7%. That’s a shock compared to the 2–3% rates of just a few years ago, which doubled many buyers’ expected monthly costs. The silver lining? Inflation has cooled to ~2.5%, and there’s hope rates may settle back into the low 6s or even high 5s.

Employment Picture

Employment is stabilizing. In 2020, job openings peaked at 21 million, but today, openings sit at around 7 million — almost equal to the number of unemployed Americans. That balance is good for the economy and helps keep real estate demand steady.

Bottom Line: Prices aren’t as inflated as many fear, borrowing costs remain the main barrier, and employment is strong enough to support housing demand.

Greenville, SC Housing Market: Mid-Year 2025

The Greenville market is holding strong and showing no signs of slowing.

  • Average sales price (YTD): $390,000 (+5.5% year-over-year)

  • Median sales price (YTD): $330,000 (+1.3% year-over-year)

  • Closed sales: Up 9.4% from 2024

  • Inventory: Up a massive 44%, now at ~4 months supply

At 4 months of supply, Greenville is still technically a seller’s market, but we’re inching toward balance (5–6 months). The key insight? Demand hasn’t fallen. Even with more homes hitting the market, buyers are still stepping in — proving just how desirable the Upstate is.

Buyer Strategy in 2025

This is where the old saying applies: “Marry the house, date the rate.” Buyers today can purchase a home at today’s price, then refinance when rates eventually drop. That way, you lock in the right home now and later enjoy both appreciation and a lower payment.

Why People Keep Moving to Greenville

Three major factors are fueling Greenville’s continued growth:

1. Net Migration

The Upstate continues to draw buyers from states like New York, New Jersey, and California. Why?

  • Affordable housing relative to other markets

  • Convenient access to Costco, Whole Foods, Trader Joe’s, and major healthcare systems (Prisma Health, Bon Secours)

  • An active lifestyle, with parks, wellness culture, the Blue Ridge Mountains, and beaches just a short drive away

2. Demographics

Half of today’s buyers in Greenville are over 50, while the average resident age is under 40. This makes the area attractive both for retirees and for families raising kids in a growing, vibrant city.

3. Strong Job Market

From manufacturing to healthcare to remote-friendly careers, Greenville offers employment stability while providing the lifestyle people are looking for.

Lake Keowee Real Estate Market: Mid-Year 2025

Lake Keowee continues to be one of the hottest luxury destinations in the Southeast.

  • Total new listings (YTD): 307 (up from 286 in 2024)

  • Average sales price: $1.6M (up from $1.3M in 2024)

  • Median sales price: $1.2M (+9% year-over-year)

  • High-end sales: Two record-breaking deals in 2025 closed at $9M and $10M

Lakefront Homes

  • Lakefront listings (YTD): 156

  • Average sales price: $2.3M

  • Sale-to-list ratio: 95.7%

Most lakefront homes sell for $1.5M+, though some opportunities exist in the $1.2–$1.4M range.

👉 Inventory is rising, giving buyers more choices and negotiating power. Prices are up, but demand remains high — especially for true waterfront property.

Should You Buy Now or Wait?

Here’s my clear verdict as someone who’s helped 94 families buy and sell in the Upstate last year alone:

  • If you’re relocating to Greenville or Lake Keowee in the next 6–12 months, buy now. Inventory is improving, and waiting for rates to drop may only mean paying more for the same home.

  • If you’re a retiree or second-home buyer, Lake Keowee remains one of the strongest lifestyle investments in the Southeast. Expect to budget $1.5M+ for quality lakefront living.

  • If you’re a family looking in Greenville, the market still favors sellers but is shifting toward balance. This creates opportunities we haven’t seen in years.

READ: Cost of Living in Greenville, SC in 2025: What You Really Need to Know

Thinking About Moving to Greenville, SC?

I’ve helped many families relocate to Greenville, guiding them through the process and helping them find the right fit for their needs.

Contact us for real estate inquiries:

📱 Call or text: 864-688-9738

📧 Email: [email protected] 

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