March 2nd Local and National Real Estate Market Report - Warmer Weather Leads to Increased Activity
National & Local Real Estate Market Update
March 2026
In encouraging news for buyers, mortgage rates dipped below 6% this week. This is almost a full point lower than the average 30-year-fixed rate from a year ago. The result is the national average for mortgage rates continues to drop. It is down 2.6% year over year. The modest relief could be the spark that brings hesitant buyers back into the market as we approach peak season.
Nationally, list prices increased 3.5% year over year to a median of $415197. However, buyers are not simply accepting asking prices. The median sale price came in lower at $380182, showing that sellers are negotiating and buyers have leverage. This means to sell your home you must price strategically and understand buyers have more room to negotiate than they did during the pandemic frenzy.
Locally, lake inventory is building as sellers anticipate buyers entering the market as the temperatures warm. It’s typical for lake and club properties to gain traction as we move toward March and April.
According to the Western Upstate MLS, there are no current pending sales, but the inventory continues to climb. In the three Cliff’s Lake Keowee communities there are currently 30 active listings ranging from a high of $6.695 million to a low of $1.179 million. The Reserve on Lake Keowee has similar inventory numbers with 27 active listings ranging from $9.499 million to $1.099 million. The listings are split about evenly between lakefront and interior lots. The mountain region has less inventory listing in the Western Upstate MLS with only 3 current listings ranging from $3.375 million to $799,000.
In a shifting market like this, expertise is not optional — it is essential.
Today’s buyers are sophisticated. They analyze data, compare communities, negotiate firmly, and expect transparency. Sellers must position their properties with precision, pricing strategy, and global exposure to stand out in a competitive luxury environment.
Luxury lake and mountain real estate is not just about square footage and finishes — it’s about lifestyle, membership structures, water access, club amenities, and long-term value. It requires specialized knowledge and targeted marketing.
At Legacy Lake and Mountain Living, we bring a team that understands the upstate market better than anyone else. We understand:
The nuances between lakefront and interior valuation
Club membership structures and transfer policies
Buyer psychology in the $1M–$10M+ luxury segment
How to market properties both nationally and internationally
With the global platform of Herlong Sotheby’s International Realty and Atlanta Fine Homes, we bring worldwide exposure to a highly targeted luxury audience — exactly where today’s qualified buyers are searching.
As spring approaches, the market is preparing to shift. Whether you are considering buying your dream lake home or positioning your property for sale, now is the time to make strategic decisions — not reactive ones.
If you are thinking about making a move in 2026, let’s have a confidential conversation about how to navigate this evolving market successfully.
Your lake and mountain lifestyle deserves expert representation.