Lexington, SC housing market update: inventory stays elevated, pace remains moderate
Lexington, SC – March 6, 2026 – Inventory remains elevated and homes are taking longer to sell, while 30-year mortgage rates hover near 6% this week.
Lexington, SC’s housing market continues to look more balanced than the fast-paced conditions many buyers remember. Recent market dashboards still point to elevated inventory and a moderate selling tempo, which can create more room for negotiation in certain situations.
Top takeaways
- Prices: Redfin reports a $283K median sale price in the most recent month of data (down 0.88% year over year) and $168 per square foot (up 6%).
- Active listings: Realtor.com shows about 872 homes for sale, with a roughly $314K median listing price and a 62-day median time on market.
- Mortgage rates: Freddie Mac’s PMMS puts the 30-year fixed mortgage rate at 6.00% for the week of March 5, 2026.
Market snapshot
In the most recent month of Redfin data, homes are taking about 52 days to sell, and closings are running around 1.5% under list price on average. Redfin also shows 36 homes sold in that latest month of reporting. Taken together, that mix suggests a calmer pace than a peak-sprint market, with more transactions settling after a longer marketing period.
Rentals
Realtor.com lists a median rent near $2,020 with about 96 rentals available. For households weighing rent vs. buy, those figures can serve as a starting benchmark for monthly payment comparisons—especially when mortgage rates are still a major factor in affordability.
What to watch
- Negotiation levers: Longer marketing times can translate into credits, repairs, or rate buydowns.
- Inventory direction: Realtor.com shows listings down about 5% month over month—watch whether that trend continues into spring.
What’s being seen right now: more negotiating room, or still multiple-offer pockets?