Southport, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Southport Neighborhoods Since 2000




Southport, 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

Southport Housing Market Information

With a population of 3,475, 1,389 total housing units (homes and apartments), and a median house value of $279,852, 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 66.46% of the city's housing units. Other types of housing that are prevalent in Southport include large apartment complexes or high rise apartments ( 15.79%), duplexes, homes converted to apartments or other small apartment buildings ( 12.67%), and a few mobile homes or trailers ( 2.85%).

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 61.02% owning and 38.98% 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 ( 29.52%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.44%). There's also some housing in Southport built before 1939 ( 10.99%).

Vacant housing appears to be an issue in Southport. Fully 22.49% 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 22.97% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Southport home appreciation rates at 1.32%, which equates to an annual appreciation rate of 5.39%.

Over the last year, Southport appreciation rates have trailed the rest of the nation. In the last twelve months, Southport's appreciation rate has been 2.91%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Southport were at 1.32%, which equates to an annual appreciation rate of 5.39%.

Relative to North Carolina, our data show that Southport's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$279,852

Southport, NC HOME PRICES

Value Range
> $1,102,000 1.3
$827,001 - $1,102,000 2.0
$551,001 - $827,000 4.2
$441,001 - $551,000 13.7
$331,001 - $441,000 14.8
$221,001 - $331,000 23.5
$110,001 - $221,000 23.1
$55,001 - $110,000 11.6
$0 - $55,000 5.8

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
18.5046290870737 9.43738656987296

Number Of Homes And Apartments:
1,389

Southport 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
32.96% 1.67% 7 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,186 / per month

Homeownership Rate

Homeownership
Owners 61.02
Renters 38.98
Vacant 22.49

Housing Market Details

 

Age of Homes

AGE OF Southport HOMES
2000 or Newer 29.5
1970 - 1999 47.0
1940 - 1969 12.4
1939 or Older 11.0

Types of Homes

TYPE OF Southport HOMES
Single-Family 66.5
Townhomes 2.2
Small Apt. Buildings 12.7
Apt. Complexes 15.8
Mobile Homes 2.8
Other 0.0

Home Size

SIZE OF Southport HOMES
No Bedroom 0.00
1 Bedroom 13.17
2 Bedrooms 20.65
3 Bedrooms 52.73
4 Bedrooms 13.00
5 or more bedrooms 0.45