SC realtors closed 8,255 transactions in May 2024. From the moment a contract was signed to the day agents got paid, they waited an average of 63 days (DTC — Days to Close). That is -1.6% versus May 2023. Every transaction represents commission earned but sitting unpaid — and the longer that wait, the bigger the cash flow gap for SC realtors.
May is peak spring season in South Carolina — historically the fastest-closing month of the year. May 2024 DTC came in at 63 days — essentially flat versus May 2023. Closings dipped 11.3% but prices held. The fastest month of 2024 still means 63 days of commission sitting unpaid per transaction.
Contract-to-close times vary dramatically across South Carolina. The same state, the same month — but agents in different regions wait vastly different amounts of time for the same commission check.
| Region | DTC — May 2024 | vs Statewide avg | YoY change |
|---|---|---|---|
| Charleston Trident | 35 days | 28 days faster | +2.9% |
| Piedmont Regional | 35 days | 28 days faster | +6.1% |
| Spartanburg | 39 days | 24 days faster | +21.9% |
| Greater Columbia | 42 days | 21 days faster | +5.0% |
| Greater Greenville | 46 days | 17 days faster | +4.5% |
| Pee Dee | 48 days | 15 days faster | -45.5% |
| Sumter/Clarendon County | 50 days | 13 days faster | -26.5% |
| Western Upstate | 61 days | near avg | -3.2% |
| Aiken | 73 days | 10 days slower | +7.4% |
| Cherokee County | 85 days | 22 days slower | +6.3% |
| Greenwood | 94 days | 31 days slower | +4.4% |
| Beaufort | 94 days | 31 days slower | +3.3% |
| Central Carolina | 94 days | 31 days slower | -24.8% |
| Greater Augusta | 102 days | 39 days slower | +6.3% |
| Coastal Carolinas | 112 days | 49 days slower | 0.0% |
| Hilton Head Area | 139 days | 76 days slower | -3.5% |
Multiply the number of May 2024 closings by the average DTC and you get a picture of how much earned but unpaid commission is sitting in the SC pipeline at any given moment. In May 2024 that number reached 520,065 agent-days of unpaid commission statewide. Every SC realtor with an open contract is carrying their share of this backlog — and the only way to close the gap before closing day is a commission advance.
The SC median home price in May 2024 was $340,000 (+2.7% from last year). At a 3% commission rate that is approximately $10,200 per transaction. That check is sitting unpaid for an average of 63 days (DTC) from contract signing. As both prices and DTC continue to move, the dollar amount of commission sitting unpaid per agent changes every month.