Is Southport, FL a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
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
How much do homes in Southport, FL cost?
Median Sold Price
$475,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Southport have sold for 14.5% more than they did a year ago.
Summary: The median home sold price in Southport was $475,000 in August 2023, up 14.5% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $155K | N/A |
| 2 Bedrooms | $339.5K | $485K | +42.8% |
| 3 Bedrooms | $360K | $487.9K | +35.5% |
| 4 Bedrooms | $426.5K | $460K | +7.9% |
| 5+ Bedrooms | $616K | $480K | -22.1% |
Summary: Southport housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 42.8%, 3 bedroom homes increased by 35.5%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes decreased by 22.1%.
Median Sold Price Compared To Nearby Cities
| Southport | $415K | $475K | +14.5% |
| Panama City Beaches | $429.5K | $470.2K | +9.5% |
| Lynn Haven | $315K | $334.2K | +6.1% |
| Youngstown | $278.2K | $285K | +2.4% |
Housing Supply
How many homes are available in Southport, FL?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 93 | 88 | -5.4% |
Summary: The Southport real estate market had 88 homes for sale in August 2023, a 5.4% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 17 | 18 | +5.9% |
| 3 Bedrooms | 27 | 25 | -7.4% |
| 4 Bedrooms | 40 | 37 | -7.5% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Southport housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.9%, 3 bedroom homes decreased by 7.4%, 4 bedroom homes decreased by 7.5%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 25 | 20 | -20.0% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Southport, you may be able to get a good deal. 55% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Southport in August 2023, down by 20.0% month-over-month. Of the 20 sold homes, 55% were sold under asking, 40% were sold at asking, and 5% were sold over asking.
Days on Market
How long does it take to sell a home in Southport, FL?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 32 Days | 60 Days | +85.6% |
Summary: Homes in Southport had an average of 60 days on market in Aug 2023, up by 85.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Southport has remained consistent over time.
Summary: During August 2023, 20 homes were sold in Southport; 35% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 25% 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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