Is Southport, NC a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southport is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, Southport was a Neutral Market.

Key Takeaway

Southport is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Southport, NC

How much do homes in Southport, NC cost?

Median Sold Price

$410,282

$232/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$56,163(-12.0%)

Key Takeaway

Homes in Southport have sold for 12% less than they did a year ago.

Summary: The median home sold price in Southport was $410,282 in February 2024, down 12% from last year, and the median price per square foot was $232.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $260K$280K
+7.7%
2 $311.7K$295K
-5.4%
3 $456.6K$394.9K
-13.5%
4 $620K$745K
+20.2%
5+ $700K$1.2M
+71.4%

Summary: Southport housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes decreased by 13.5%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes increased by 71.4%.

Median Sold Price Compared To Nearby Cities

Smithville Township
+3.6%
Southport
-12.0%

Housing Supply in Southport, NC

How many homes are available in Southport, NC?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
253287+13.4%

Summary: The Southport real estate market had 287 homes for sale in February 2024, a 13.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 49
+125.0%
2 3031
+3.3%
3 164188
+14.6%
4 4849
+2.1%
5+ 710
+42.9%

Summary: The Southport housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 125%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 14.6%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 42.9%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
3338+15.2%

Asking Price vs. Sold Price

28 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southport, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in Southport in February 2024, up by 15.2% month-over-month. Of the 38 sold homes, 74% were sold under asking, 21% were sold at asking, and 5% were sold over asking.

Days on Market for Southport, NC

How long does it take to sell a home in Southport, NC?

Average Sale Time

Feb 2023Feb 2024CHANGE
61 Days56 Days-9.0%

Summary: Homes in Southport had an average of 56 days on market in Feb 2024, down by 9% compared to last year.

Breakdown of Home Sale Times

18 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 38 homes were sold in Southport; 47% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.

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

Report Updated 28 Days Ago

Newest Listings in Southport, NC

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What housing markets are near Southport, NC?