SC realtors closed 8,065 transactions in July 2024. From the moment a contract was signed to the day agents got paid, they waited an average of 62 days (DTC — Days to Close). That is +7.0% versus July 2023. Every transaction represents commission earned but sitting unpaid — and the longer that wait, the bigger the cash flow gap for SC realtors.
July is the heart of SC's summer market. Closings rose 7.0% in July 2024 — a strong volume month. But DTC ticked up to 62 days — 7.0% longer than July 2023. More deals closing and waiting longer at the same time. The summer 2024 cash flow squeeze was beginning to build.
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 — July 2024 | vs Statewide avg | YoY change |
|---|---|---|---|
| Spartanburg | 33 days | 29 days faster | +17.9% |
| Charleston Trident | 36 days | 26 days faster | +28.6% |
| Piedmont Regional | 38 days | 24 days faster | +15.2% |
| Greater Greenville | 40 days | 22 days faster | +2.6% |
| Greater Columbia | 44 days | 18 days faster | +10.0% |
| Pee Dee | 53 days | 9 days faster | -47.5% |
| Sumter/Clarendon County | 57 days | 5 days faster | -16.2% |
| Western Upstate | 58 days | near avg | -3.3% |
| Aiken | 66 days | near avg | -2.9% |
| Cherokee County | 66 days | near avg | -17.5% |
| Central Carolina | 88 days | 26 days slower | -28.5% |
| Greenwood | 91 days | 29 days slower | +4.6% |
| Greater Augusta | 96 days | 34 days slower | +2.1% |
| Beaufort | 102 days | 40 days slower | -1.9% |
| Coastal Carolinas | 115 days | 53 days slower | +2.7% |
| Hilton Head Area | 144 days | 82 days slower | -10.0% |
Multiply the number of July 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 July 2024 that number reached 500,030 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 July 2024 was $343,000 (+2.7% from last year). At a 3% commission rate that is approximately $10,290 per transaction. That check is sitting unpaid for an average of 62 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.