Is 2026 a good year to sell a house in Lexington, SC?

July 2026 CMLS Area 11 data says well-priced homes are still selling: 184 closings, median $331,060 (up 6.5%), 30 days on market, and 98.7% of list price. Higher inventory (491 homes, up 21.2%) means you cannot list at a 2022 peak number and wait.

What was the median home price in Lexington Area 11 in July 2026?

The July 2026 CMLS Area 11 median closed price was $331,060, up 6.5%. Year-to-date through July, the median was $312,500 across 1,250 closings.

How long does it take to sell a home in Lexington, SC right now?

July 2026 CMLS Area 11 median days on market was 30. Homes priced to current comps in the first week still move. Homes priced to last year's hopes sit.

Should I wait for more inventory to come down before I sell?

Inventory in Area 11 was 491 homes in July 2026, up 21.2%. That gives buyers more choices, but it has not collapsed sale prices — the median is still up 6.5%. Waiting for “less competition” is a bet against a market that is already functioning. Price correctly and launch with a real marketing plan instead.

October 18, 2026 · Joseph Michel

Should I Buy a Townhome or a Single-Family Home in Lexington, SC in 2026?

Lexington townhomes recently sold for a median of $210K versus $318K for single-family homes. At 7.40% with 5% down, a townhome like 410 Pepperbush Lane at $239,500 runs about $380 a month less even after the HOA. Here's who each fits…

Right now our team has a 2023-built townhome at 410 Pepperbush Lane in Murray Village offered for $239,500. That's three bedrooms, two and a half baths and 1,671 square feet, across the street from Lake Murray Elementary, with a backyard that backs up to a nature preserve and lawn care handled by the HOA. Redfin lists the HOA at $137 a month.

Compare that with the typical single-family sale in the city of Lexington. In Redfin's sales data for roughly the last six months, the median single-family home sold for about $318,000. Townhomes sold for a median of about $210,000.

That gap is the whole townhome question. I'm Joe Michel, a Realtor with Coldwell Banker Realty on the Patrick O'Connor Team, the #1 Coldwell Banker team in South Carolina, and here's how I help buyers decide which one actually fits.

How much cheaper is a townhome in Lexington right now?

Here's what Redfin's Lexington city data showed when I pulled it on October 18, 2026:

| | Townhomes | Single-family homes | |---|---|---| | Recent sales (about 6 months) | 25 | about 340 (sample) | | Median sale price | $210,000 | $318,000 | | Median size | 1,193 sq ft | 2,086 sq ft | | Median price per sq ft | $183 | $171 | | Median bedrooms | 2 | 3 | | Median year built | 2005 | 2006 |

For the whole city, all home types, Redfin's September median was $339,838, down 12.1% from a year ago, with a median of 41 days on market.

Two things jump out. First, townhomes are roughly $100,000 cheaper at the median. Second, you pay a little *more* per square foot for a townhome, because you're buying a smaller home. You save on the total price, not on the space.

What does that difference mean for my monthly payment?

Freddie Mac's 30-year fixed average was 7.40% on October 15, 2026, unchanged from the week before and up from 6.27% a year ago. With 5% down, principal and interest work out to about:

$1,575 a month on a $239,500 townhome like Pepperbush
$2,092 a month on a $318,000 single-family home

That's about $516 a month apart before taxes and insurance. Now add the HOA. At 7.40%, every $100 a month in dues costs about the same as $14,400 more mortgage, so Pepperbush's $137 a month is like adding about $19,800 to the loan. Even after the dues, the townhome still comes out around $380 a month cheaper in that comparison.

Lenders count HOA dues in your debt-to-income ratio, so run the full payment, not just the price. I walked through that math in more detail in Should I Buy a Home With an HOA in Lexington, SC in 2026?

Can I get a single-family home for the same price?

Sometimes, yes, and this is the comparison I'd actually make. In the same Redfin data, 94 single-family homes in Lexington sold for $260,000 or less. Their median was $237,300 for about 1,354 square feet, three bedrooms, built around 2003.

Meanwhile, the 58 townhomes for sale in Lexington on October 18 had a median asking price of $237,000 for about 1,478 square feet and three bedrooms. Seventeen of them were new construction.

So at roughly the same price, the choice usually looks like this:

A townhome: newer, often a bit bigger inside, exterior and lawn help from the HOA, shared walls, a small yard.
A single-family home: a little smaller and around 20 years old, but your own lot, no shared walls, often a lower HOA or none, and room to add on, fence or park a boat.

Neither one is the wrong answer. It depends on how you live.

Who is a townhome a good fit for?

In my experience, townhomes work best for:

First-time buyers who want to stop renting without stretching to $300,000-plus.
Downsizers who are done mowing and want one less thing to maintain.
Busy professionals and travelers who want to lock the door and leave.
Buyers who want a newer home in a good school area at a lower price. Pepperbush sits across from Lake Murray Elementary for about $80,000 under the city's typical single-family sale.

Who should hold out for a single-family home?

Lean toward a detached home if you:

Have a boat, RV, trailer or workshop
Want a real yard for kids, dogs or a garden
Plan to stay 7 to 10 years and expect your family to grow
Want to add a pool, a fence or an addition without asking an HOA
Don't want to hear the neighbor's TV through the wall

Do townhomes sell slower in Lexington?

They can. The standard MLS townhome listings for sale in Lexington on October 18 had been on the market a median of 67 days, compared with a citywide median of 41 days for September sales of all home types. That's not an apples-to-apples comparison, but it tells me townhome buyers have room to negotiate right now, especially on resales competing with brand-new units down the street.

It also means that if you buy a townhome, plan to stay a few years. When it's time to sell, you may be competing with new construction, so condition and price matter even more. A good comparative market analysis that compares townhomes with townhomes, not with detached houses, is the place to start.

What should I check before buying a townhome?

What the HOA covers. Lawn only? Exterior paint? Roof? Pepperbush's HOA, for example, covers lawn maintenance. Get it in writing.
The HOA budget and reserves. Thin reserves can mean a special assessment later.
Rental rules. These matter if you might rent it out someday.
Insurance. Ask whether the HOA carries a master policy and what it covers, so your own policy fills the gap.
Parking and storage. Two-car households and anyone with a trailer should look closely.
Who owns the walls and roof. Most Lexington townhomes are owned with the land underneath them, but confirm how shared walls and roofs are handled.

Our team pulls the HOA documents during your due diligence period so there are no surprises after closing. And with this many townhomes on the market, it's also worth asking about closing cost credits.

Frequently asked questions about townhomes in Lexington, SC

How much does a townhome cost in Lexington, SC in 2026? In Redfin's data for roughly the last six months, Lexington townhomes sold for a median of about $210,000. Townhomes for sale in mid-October had a median asking price of $237,000, and many of those were new construction.

Are townhomes cheaper than houses in Lexington? Yes, at the median. Townhomes sold for about $210,000 versus about $318,000 for single-family homes. Per square foot, though, townhomes ran slightly higher ($183 versus $171) because they're smaller.

What are typical townhome HOA fees in Lexington? Among Lexington townhomes for sale that listed a fee on October 18, the median was $137 a month. Some communities charge less and some much more, depending on what's covered.

Is a townhome a good investment in Lexington? It can be, especially for first-time buyers who would otherwise keep renting. Townhomes can take longer to resell when new units are being built nearby, so they work best when you plan to stay a few years.

Can I find new construction townhomes in Lexington? Yes. Seventeen of the 58 townhomes for sale on October 18 were new construction, many priced from the mid-$220,000s to the low $270,000s.

Should a first-time buyer get a townhome or a house? If a townhome gets you into a newer home in a good location for roughly $380 to $500 a month less, it's often the smarter first step. If you need a yard or room to grow, a smaller older single-family home at a similar price may fit better.

Want help comparing townhomes and houses side by side?

Joe Michel's team can pull townhomes and single-family homes in the same price range, run the full monthly payment with HOA dues, and show you what similar homes actually sold for. Call or text me at 803-553-6438, or take a look at 410 Pepperbush Lane. You can also read our first-time buyer mistakes guide, browse the team's buyer resources, or see what we've closed lately on the Patrick O'Connor Team recently sold page.

What's my Midlands home worth?

Get a free, no-obligation valuation from Joe Michel's team at Coldwell Banker Realty. Request your free valuation →