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 April 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

$525,000

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$62,858(+13.6%)

Key Takeaway

Homes in Southern Pines have sold for 13.6% more than they did a year ago.

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

# BEDSApr 2023Apr 2024CHANGE
1 $112K$121.5K
+8.5%
2 $280K$315K
+12.5%
3 $425K$460K
+8.2%
4 $576K$630K
+9.4%
5+ $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%.

Median Sold Price Compared To Nearby Cities

West End
+15.9%
Southern Pines
+13.6%
Whispering Pines
+5.4%
Aberdeen
+5.4%
Pinehurst
+4.7%

Housing Supply in Southern Pines, NC

How many homes are available in Southern Pines, NC?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
163179+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

# BEDSMar 2024Apr 2024CHANGE
1 11
0.0%
2 1318
+38.5%
3 6873
+7.4%
4 6463
-1.6%
5+ 1724
+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 2024Apr 2024CHANGE
4045+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Southern Pines, you may be able to get a good deal. 37.8% of homes here sold below asking price last month.

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 2023Apr 2024CHANGE
35 Days39 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 9 Days Ago

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