Is Southern Pines, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Southern Pines has remained a Seller's Market.
Key Takeaway
Southern Pines is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southern Pines, NC
How much do homes in Southern Pines, NC cost?
Median Sold Price
$516,911
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Southern Pines have sold for 11.4% more than they did a year ago.
Summary: The median home sold price in Southern Pines was $516,911 in March 2024, up 11.4% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $112K | $121.5K | +8.5% |
| 2 Bedrooms | $292K | $325K | +11.3% |
| 3 Bedrooms | $425.5K | $450K | +5.8% |
| 4 Bedrooms | $585K | $589.9K | +0.8% |
| 5+ Bedrooms | $697.5K | $737.1K | +5.7% |
Summary: Southern Pines housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 5.7%.
Housing Supply in Southern Pines, NC
How many homes are available in Southern Pines, NC?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 154 | 158 | +2.6% |
Summary: The Southern Pines real estate market had 158 homes for sale in March 2024, a 2.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 11 | 14 | +27.3% |
| 3 Bedrooms | 68 | 66 | -2.9% |
| 4 Bedrooms | 60 | 59 | -1.7% |
| 5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The Southern Pines housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 27.3%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes decreased by 1.7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 33 | 40 | +21.2% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southern Pines, you may be able to get a good deal. 47.5% of homes here sold below asking price last month.
Summary: A total of 40 homes were sold or pending in Southern Pines in March 2024, up by 21.2% month-over-month. Of the 40 sold homes, 48% were sold under asking, 33% were sold at asking, and 20% were sold over asking.
Days on Market for Southern Pines, NC
How long does it take to sell a home in Southern Pines, NC?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 67 Days | 58 Days | -12.5% |
Summary: Homes in Southern Pines had an average of 58 days on market in Mar 2024, down by 12.5% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southern Pines are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 40 homes were sold in Southern Pines; 45% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 28% of homes were sold over 90 days.
Copyright © 2024 Triangle MLS, Inc. of North Carolina. All rights reserved. 
The data relating to real estate for sale on this web site comes in part from the Longleaf Pine REALTORS®, Inc. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawl. Neither listing broker(s) nor Longleaf Pine REALTORS®, Inc. shall be held responsible for typographical errors, misinformation, misprints and shall be held totally harmless. Copyright 2024 Longleaf Pine REALTORS®, Inc. All rights reserved.