Is Southport, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Southport has remained a Seller's Market.
Key Takeaway
Southport is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southport, FL
How much do homes in Southport, FL cost?
Median Sold Price
$475,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Southport have sold for 0.9% more than they did a year ago.
Summary: The median home sold price in Southport was $475,000 in May 2024, up 0.9% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $246.2K | +58.9% |
| 2 Bedrooms | $461.2K | $476.6K | +3.3% |
| 3 Bedrooms | $476.3K | $600K | +25.9% |
| 4 Bedrooms | $460K | $420K | -8.7% |
| 5+ Bedrooms | $557.5K | $474.5K | -14.9% |
Summary: Southport housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 58.9%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 25.9%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes decreased by 14.9%.
Median Sold Price Compared To Nearby Cities
| Lynn Haven | $337K | $350.3K | +4.0% |
| Youngstown | $290K | $295K | +1.7% |
| Southport | $470.8K | $475K | +0.9% |
| Panama City Beaches | $471.4K | $468K | -0.7% |
Housing Supply in Southport, FL
How many homes are available in Southport, FL?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 169 | 182 | +7.7% |
Summary: The Southport real estate market had 182 homes for sale in May 2024, a 7.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 36 | 33 | -8.3% |
| 3 Bedrooms | 53 | 57 | +7.5% |
| 4 Bedrooms | 61 | 72 | +18.0% |
| 5+ Bedrooms | 19 | 20 | +5.3% |
Summary: The Southport housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.3%, 3 bedroom homes increased by 7.5%, 4 bedroom homes increased by 18%, and 5+ bedroom homes increased by 5.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 36 | +28.6% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southport, you may be able to get a good deal. 61.1% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in Southport in May 2024, up by 28.6% month-over-month. Of the 36 sold homes, 61% were sold under asking, 28% were sold at asking, and 11% were sold over asking.
Days on Market for Southport, FL
How long does it take to sell a home in Southport, FL?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 47 Days | 43 Days | -9.5% |
Summary: Homes in Southport had an average of 43 days on market in May 2024, down by 9.5% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southport are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 36 homes were sold in Southport; 42% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
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Listings courtesy of Stellar MLS as distributed by MLS GRID.
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