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 Q3 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 a population of 3,828, 1,433 total housing units (homes and apartments), and a median house value of $300,128, 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

Southport's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Southport during the period has been just 0.23%, which is lower than 80% of US communities.

Appreciation rates are so strong in Southport that despite a nationwide downturn in the housing market, Southport real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Southport appreciation rates continue to be some of the highest in America, at 4.97%, which is higher than appreciation rates in 70.54% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Southport. Southport appreciation rates in the latest quarter were at 3.98%, which equates to an annual appreciation rate of 16.91%.

Importantly, this makes Southport one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

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:
$300,128

Southport, NC HOME PRICES

Value Range
> $1,169,000 3.6
$877,001 - $1,169,000 0.2
$584,001 - $877,000 4.0
$467,001 - $584,000 12.1
$351,001 - $467,000 17.1
$234,001 - $351,000 27.5
$117,001 - $234,000 26.3
$59,001 - $117,000 4.8
$0 - $59,000 4.5

Very High for NC
High for Nation

Value Relative to Nation Value Relative to State
20.2277372262774 12.3188405797101

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:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
49.18% 2.05%
6
4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,358 / 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