Southport, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Southport, NC Real Estate Data


Southport Housing Market Information

With a population of 3,475, 1,271 total housing units (homes and apartments), and a median house value of $261,455, Southport real estate is some of the most expensive in North Carolina, although Southport home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Southport, accounting for 64.02% of the city's housing units. Other types of housing that are prevalent in Southport include duplexes, homes converted to apartments or other small apartment buildings ( 17.49%), large apartment complexes or high rise apartments ( 14.52%), and a few mobile homes or trailers ( 2.04%).

The most prevalent building size and type in Southport are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.84% owning and 48.16% renting.

There is a lot of housing in Southport 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 Southport built between 2000 and later ( 31.60%). A lesser amount of the housing stock also hails from before 1939 ( 10.79%). There's also some housing in Southport built between 1940-1969 ( 9.45%).

Vacant housing appears to be an issue in Southport. Fully 25.89% of the housing stock is classified as vacant. Left unchecked, vacant Southport homes and apartments can be a drag on the real estate market, holding Southport 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.

Southport Home Appreciation Rates

Homes have actually lost value in Southport over the last then years, as home values have seen a decline of 25.79% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Southport home appreciation rates at 1.35%, which equates to an annual appreciation rate of 5.50%.

NeighborhoodScout's data show that during the latest twelve months, Southport's appreciation rate, at 5.24%, has been at or slightly above the national average. In the latest quarter, Southport's appreciation rate has been 1.35%, which annualizes to a rate of 5.50%.

Relative to North Carolina, our data show that Southport's latest annual appreciation rate is higher than 60% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$261,455

Southport, NC HOME PRICES

Value Range
> $1,121,000 0.8
$840,001 - $1,121,000 2.2
$560,001 - $840,000 6.3
$449,001 - $560,000 11.0
$337,001 - $449,000 12.6
$224,001 - $337,000 24.0
$112,001 - $224,000 24.0
$56,001 - $112,000 10.7
$0 - $56,000 8.3

Very High for NC
High for Nation

Value Relative to Nation Value Relative to State
21.4499033788136 11.6152450090744

Number Of Homes And Apartments:
1,271

Rent & Ownership

 

Average Market Rent:
$1,011 / per month

Homeownership Rate

Homeownership
Owners 51.84
Renters 48.16
Vacant 25.89

Housing Market Details

 

Age of Homes

AGE OF Southport HOMES
2000 or Newer 31.6
1970 - 1999 48.2
1940 - 1969 9.4
1939 or Older 10.8

Types of Homes

TYPE OF Southport HOMES
Single-Family 64.0
Townhomes 1.9
Small Apt. Buildings 17.5
Apt. Complexes 14.5
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Southport HOMES
No Bedroom 0.00
1 Bedroom 14.93
2 Bedrooms 21.17
3 Bedrooms 52.48
4 Bedrooms 11.02
5 or more bedrooms 0.41

Southport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
33.24% 1.70% 6 4
* 10 is highest