ANDERSON, S.C. — The western Upstate housing market moved further toward buyers in September, with the number of homes for sale climbing by nearly a third from a year earlier while contracts on new deals fell sharply, according to monthly figures released Oct. 14 by the Anderson-based Western Upstate Association of Realtors.
Inventory across the association’s MLS region rose 31.5% year over year to 2,997 homes, the group reported. Pending sales, a measure of contracts signed during the month, dropped 33.5% to 352, and months of supply rose to 5.8, up 34.9% from the prior year. A September 2025 comparison of 4.3 months of supply, 2,279 listings and 529 pending sales was cited by Gwen Fowler Real Estate in an Oct. 17 market summary based on the same association data. That summary also reported 550 closed sales for the month, down 7.4%.
Prices have so far held up better than activity. The association said the median sales price for September was $310,000, down 3.1% from a year earlier, while the 12-month median was unchanged at $310,000 and the 12-month single-family median was flat at $317,000. Homes are taking longer to sell, however: days on market rose 16.7% to 84. Properties priced at $150,000 and below sold fastest, averaging 71 days, while homes above $1 million took about 100 days, the report said. One segment bucked the slowdown, with 12-month pending sales in the $750,001 to $1 million range up 2.3%.
Sellers are also pulling back. New listings fell 7.6% to 791 in September, the association said, meaning the inventory buildup reflects slower sales absorbing existing listings rather than a surge of new homes hitting the market. The report pointed to a tougher financing backdrop, noting that the Federal Reserve raised its benchmark rate by a quarter point on Sept. 16 and that the 30-year fixed mortgage rate moved above 7% in late September, up from a 6.67% August average, according to Freddie Mac data cited by the association.
The local shift tracks a national cooling. Citing National Association of Realtors data, the report said U.S. existing-home sales fell to a seasonally adjusted annual pace of 3.98 million, while national supply rose to 4.9 months. The national median existing-home price of $429,100 remains well above the western Upstate median, leaving the region comparatively affordable even as financing costs climb.
For buyers, the numbers point to more choice, longer negotiating windows and room to ask for concessions, particularly in the higher price tiers where homes sit longest. Sellers face a market where pricing and condition matter more than they did a year ago. For builders and investors weighing new residential projects in Anderson, Oconee and Pickens counties, a supply level approaching six months suggests absorption is slowing and that rate-sensitive buyers may be harder to reach until borrowing costs ease.
Sources: Western Upstate Association of Realtors, Gwen Fowler Real Estate
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