Southport, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Southport Housing Market Information

With 3,725 people, 1,433 houses or apartments, and a median cost of homes of $287,889, 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 68.85% of the city's housing units. Other types of housing that are prevalent in Southport include large apartment complexes or high rise apartments ( 9.81%), row houses and other attached homes ( 8.29%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.76%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Southport. Owner-occupied housing accounts for 73.83% of Southport's homes, and 69.11% have either three or four bedrooms, which is average sized relative to America.

Southport homes and real estate are some of the newest in America. 39.85% of Southport's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Southport real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 38.44%), and between 1940-1969 ( 14.42%). There's also some housing in Southport built before 1939 ( 7.29%).

Vacant housing appears to be an issue in Southport. Fully 24.86% 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 7.93% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Southport home appreciation rates at 1.08%, which equates to an annual appreciation rate of 4.38%.

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 1.20%, 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 1.08%, which equates to an annual appreciation rate of 4.38%.

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

Average Home Values

 

Median Home Value:
$287,889

Southport, NC HOME PRICES

Value Range
> $1,121,000 3.5
$841,001 - $1,121,000 0.6
$561,001 - $841,000 4.8
$448,001 - $561,000 11.1
$336,001 - $448,000 16.4
$224,001 - $336,000 34.6
$112,001 - $224,000 24.3
$56,001 - $112,000 2.6
$0 - $56,000 2.1

Very High for NC
High for Nation

Value Relative to Nation Value Relative to State
20.7766423357664 13.0434782608696

Number Of Homes And Apartments:
1,433

Southport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
43.15% 1.88%
6
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,304 / per month

Homeownership Rate

Homeownership
Owners 73.83
Renters 26.17
Vacant 24.86

Housing Market Details

 

Age of Homes

AGE OF Southport HOMES
2000 or Newer 39.9
1970 - 1999 38.4
1940 - 1969 14.4
1939 or Older 7.3

Types of Homes

TYPE OF Southport HOMES
Single-Family 68.9
Townhomes 8.3
Small Apt. Buildings 7.8
Apt. Complexes 9.8
Mobile Homes 5.3
Other 0.0

Home Size

SIZE OF Southport HOMES
No Bedroom 0.00
1 Bedroom 5.66
2 Bedrooms 24.75
3 Bedrooms 54.06
4 Bedrooms 15.05
5 or more bedrooms 0.47