Is Southern Pines, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southern Pines is a seller's market

Buyer's
Market

Difference Since October 2021

At the same time last year, Southern Pines was a Buyer's Market.

Key Takeaway

Southern Pines is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Southern Pines, NC cost?

Median Sold Price

$453,488

$206/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2021

+$48,837(+12.1%)

Key Takeaway

Homes in Southern Pines have sold for 12.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSOct 2021Oct 2022%
1 -$112K
N/A
2 $320K$290K
-9.4%
3 $327.5K$405K
+23.7%
4 $445.7K$576K
+29.2%
5+ $579K$895K
+54.6%

Median Sold Price Compared To Nearby Cities

Pinehurst
+33.1%
Aberdeen
+27.9%
West End
+17.8%
Southern Pines
+12.1%
Whispering Pines
+6.8%

How many homes are available in Southern Pines, NC?

Number of Homes For Sale

Sep 2022Oct 2022%
112108-3.6%

Homes For Sale By Bedroom Count

# BEDSSep 2022Oct 2022%
1 62
-66.7%
2 910
+11.1%
3 4037
-7.5%
4 4849
+2.1%
5+ 910
+11.1%

Number of Homes Sold

Sep 2022Oct 2022%
3021-30.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southern Pines, expect to pay close to the asking price. 47.6% of homes here sold near the asking price last month.

Average Sale Time

Oct 2021Oct 2022%
33 Days34 Days+1.8%

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Southern Pines are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Southern Pines, NC

Homes for sale in Southern Pines, NC have reached 108. The number of listings in Southern Pines, NC decreased by 3.6% between September 2022 and October 2022. Listings spent 34 days on the market in October 2022, and had a median list price of $453,488 during the same period. Between September 2022 and October 2022, listing prices of homes in this real estate market have seen the following changes: prices of 1 bedroom properties increased by 0%, 2 bedrooms properties prices decreased by 9.4%, the cost of 3 bedrooms properties went up by 23.7%, 4 bedrooms properties became 29.2% more expensive, 5 bedrooms properties prices increased by 54.6%. Volume of homes for sale changed: 1 bedroom homes inventory decreased by 66.7%, number of 2 bedrooms homes increased by 11.1%, volume of 3 bedrooms homes went down by 7.5%, number of 4 bedrooms homes increased by 2.1%, 5 bedrooms homes became 11.1% more available. In October 2022 more than 2 listings in Southern Pines, NC were sold above the asking price. During the same period more than 10 listings were sold at asking price, while more than 9 were sold below.