$300,000
6.18 Acres
Land
#100476702, Listing Office: Keller Williams Pinehurst
Is Southern Pines, NC a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Southern Pines was a Seller's Market.
Key Takeaway
Southern Pines is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Southern Pines, NC
How much do homes in Southern Pines, NC cost?
Median Sold Price
$545,000
$246/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$43,487(+8.7%)
Key Takeaway
Homes in Southern Pines have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Southern Pines was $545,000 in October 2024, up 8.7% from last year, and the median price per square foot was $246.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $146.5K | $145K | -1.0% |
| 2 Bedrooms | $286.9K | $325K | +13.3% |
| 3 Bedrooms | $440K | $476K | +8.2% |
| 4 Bedrooms | $602.5K | $655.2K | +8.8% |
| 5+ Bedrooms | $691.4K | $847.5K | +22.6% |
Summary: Southern Pines housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 22.6%.
Housing Supply in Southern Pines, NC
How many homes are available in Southern Pines, NC?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 179 | 184 | +2.8% |
Summary: The Southern Pines real estate market had 184 homes for sale in October 2024, a 2.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 21 | 25 | +19.0% |
| 3 Bedrooms | 71 | 73 | +2.8% |
| 4 Bedrooms | 57 | 54 | -5.3% |
| 5+ Bedrooms | 27 | 30 | +11.1% |
Summary: The Southern Pines housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 28 | -3.4% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southern Pines, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 28 homes were sold or pending in Southern Pines in October 2024, down by 3.4% month-over-month. Of the 28 sold homes, 50% were sold under asking, 29% were sold at asking, and 21% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 54 Days | +24.9% |
Summary: Homes in Southern Pines had an average of 54 days on market in Oct 2024, up by 24.9% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southern Pines are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 28 homes were sold in Southern Pines; 43% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
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