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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 16,596 people, 7,080 houses or apartments, and a median cost of homes of $549,546, 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 56.70% of the town's housing units. Other types of housing that are prevalent in Southern Pines include large apartment complexes or high rise apartments ( 24.27%), duplexes, homes converted to apartments or other small apartment buildings ( 10.74%), and a few row houses and other attached homes ( 6.63%).
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 58.38% owning and 41.62% renting.
Southern Pines homes and real estate are some of the newest in America. 41.58% of Southern Pines's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Southern Pines real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 37.58%), and between 1940-1969 ( 12.78%). There's also some housing in Southern Pines built before 1939 ( 8.07%).
Vacant housing appears to be an issue in Southern Pines. Fully 13.60% 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.
In the last 10 years, Southern Pines has experienced some of the highest home appreciation rates of any community in the nation. Southern Pines real estate appreciated 115.82% over the last ten years, which is an average annual home appreciation rate of 8.00%, putting Southern Pines in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Southern Pines definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
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 8.67%, which is higher than appreciation rates in 77.61% 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 1.46%, which equates to an annual appreciation rate of 5.95%.
Relative to North Carolina, our data show that Southern Pines's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Southern Pines differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Southern Pines - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Southern Pines real estate investment or home purchase decisions.
$549,546
for North carolina
for nation
7,080
$1,952 / per month