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.
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
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
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
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.