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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Southport is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Southport has remained a Seller's Market.

Key Takeaway

Southport is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Southport, NC

How much do homes in Southport, NC cost?

Median Sold Price

$419,816

$240/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$18,558(-4.2%)

Key Takeaway

Homes in Southport have sold for 4.2% less than they did a year ago.

Summary: The median home sold price in Southport was $419,816 in May 2024, down 4.2% from last year, and the median price per square foot was $240.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $274.5K$255K
-7.1%
2 $310K$307K
-1.0%
3 $425K$412.5K
-2.9%
4 $634.9K$762.5K
+20.1%
5+ $997.5K$1.2M
+20.3%

Summary: Southport housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.1%, 2 bedroom homes decreased by 1%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 20.1%, and 5+ bedroom homes increased by 20.3%.

Median Sold Price Compared To Nearby Cities

Smithville Township
+12.6%
Southport
-4.2%

Housing Supply in Southport, NC

How many homes are available in Southport, NC?

Number of Homes For Sale

Apr 2024May 2024CHANGE
330357+8.2%

Summary: The Southport real estate market had 357 homes for sale in May 2024, a 8.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 1111
0.0%
2 4040
0.0%
3 208224
+7.7%
4 6170
+14.8%
5+ 1012
+20.0%

Summary: The Southport housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Apr 2024May 2024CHANGE
5968+15.3%

Asking Price vs. Sold Price

42 Homes Were Sold
Under Asking

19 Homes Were Sold
At Asking

7 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. 61.8% of homes here sold below asking price last month.

Summary: A total of 68 homes were sold or pending in Southport in May 2024, up by 15.3% month-over-month. Of the 68 sold homes, 62% were sold under asking, 28% were sold at asking, and 10% 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

May 2023May 2024CHANGE
35 Days65 Days+87.5%

Summary: Homes in Southport had an average of 65 days on market in May 2024, up by 87.5% compared to last year.

Breakdown of Home Sale Times

35 Homes Were Sold
Under 30 Days

20 Homes Were Sold
In 30 - 90 Days

13 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 May 2024, 68 homes were sold in Southport; 51% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 19% 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 2 Days Ago

Newest Listings in Southport, NC

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