Southern Pines, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Southern Pines Neighborhoods Since 2000




Southern Pines, NC Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Southern Pines Housing Market Information

With a population of 13,539, 5,889 total housing units (homes and apartments), and a median house value of $297,605, Southern Pines real estate is some of the most expensive in North Carolina, although Southern Pines home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Southern Pines, accounting for 55.77% of the town's housing units. Other types of housing that are prevalent in Southern Pines include large apartment complexes or high rise apartments ( 20.74%), duplexes, homes converted to apartments or other small apartment buildings ( 14.35%), and a few row houses and other attached homes ( 5.39%).

The most prevalent building size and type in Southern Pines are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 56.45% owning and 43.55% renting.

There is a lot of housing in Southern Pines built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Southern Pines built between 2000 and later ( 22.51%). A lesser amount of the housing stock also hails from between 1940-1969 ( 22.00%). There's also some housing in Southern Pines built before 1939 ( 7.50%).

Vacant housing appears to be an issue in Southern Pines. Fully 15.84% of the housing stock is classified as vacant. Left unchecked, vacant Southern Pines homes and apartments can be a drag on the real estate market, holding Southern Pines real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Southern Pines Home Appreciation Rates

Appreciation rates for homes in Southern Pines have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.31%, which ranks in the top 30% nationwide. This equates to an annual average Southern Pines house appreciation rate of 1.26%.

Appreciation rates are so strong in Southern Pines that despite a nationwide downturn in the housing market, Southern Pines real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Southern Pines appreciation rates continue to be some of the highest in America, at 8.39%, which is higher than appreciation rates in 88.45% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Southern Pines. Southern Pines appreciation rates in the latest quarter were at -0.54%, which equates to an annual appreciation rate of -2.13%.

Notably, Southern Pines's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Southern Pines's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$297,605

Southern Pines, NC HOME PRICES

Value Range
> $1,158,000 1.4
$868,001 - $1,158,000 2.9
$579,001 - $868,000 7.1
$463,001 - $579,000 6.8
$347,001 - $463,000 15.3
$231,001 - $347,000 19.5
$116,001 - $231,000 26.5
$58,001 - $116,000 13.5
$0 - $58,000 6.9

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
16.4772061408649 8.34845735027223

Number Of Homes And Apartments:
5,889

Southern Pines Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
56.08% 2.61% 9 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$841 / per month

Homeownership Rate

Homeownership
Owners 56.45
Renters 43.55
Vacant 15.84

Housing Market Details

 

Age of Homes

AGE OF Southern Pines HOMES
2000 or Newer 22.5
1970 - 1999 48.0
1940 - 1969 22.0
1939 or Older 7.5

Types of Homes

TYPE OF Southern Pines HOMES
Single-Family 55.8
Townhomes 5.4
Small Apt. Buildings 14.3
Apt. Complexes 20.7
Mobile Homes 3.3
Other 0.4

Home Size

SIZE OF Southern Pines HOMES
No Bedroom 1.96
1 Bedroom 9.13
2 Bedrooms 33.94
3 Bedrooms 34.01
4 Bedrooms 15.75
5 or more bedrooms 5.20

Popular Neighborhoods in Southern Pines

Zip Codes in Southern Pines, NC