Is Southern Pines, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$525,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Southern Pines was $525,000 in April 2024, up 13.6% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $112K | $121.5K | +8.5% |
2 Bedrooms | $280K | $315K | +12.5% |
3 Bedrooms | $425K | $460K | +8.2% |
4 Bedrooms | $576K | $630K | +9.4% |
5+ Bedrooms | $660K | $724.2K | +9.7% |
Summary: Southern Pines housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 9.4%, and 5+ bedroom homes increased by 9.7%.
Housing Supply in Southern Pines, NC
How many homes are available in Southern Pines, NC?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
163 | 179 | +9.8% |
Summary: The Southern Pines real estate market had 179 homes for sale in April 2024, a 9.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 13 | 18 | +38.5% |
3 Bedrooms | 68 | 73 | +7.4% |
4 Bedrooms | 64 | 63 | -1.6% |
5+ Bedrooms | 17 | 24 | +41.2% |
Summary: The Southern Pines housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 38.5%, 3 bedroom homes increased by 7.4%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 41.2%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
40 | 45 | +12.5% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 45 homes were sold or pending in Southern Pines in April 2024, up by 12.5% month-over-month. Of the 45 sold homes, 38% were sold under asking, 38% were sold at asking, and 24% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 39 Days | +10.6% |
Summary: Homes in Southern Pines had an average of 39 days on market in Apr 2024, up by 10.6% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 45 homes were sold in Southern Pines; 64% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.