Southgate Real Estate Statistics

Southgate real estate average sold price in the last 30 days (December 7 - January 5) was $376,903, which is $345,811 (91.8%) lower than the average price of $722,714 in the previous 30 day period (November 7 - December 6), and $459,347 (121.9%) down from the same period 1 year ago ($836,250). Southgate real estate prices over the last 30 days are also $288,370 (76.5%) lower than the average selling price of $665,273 over the past year.

Southgate average sold price for homes was $376,903 in the last 30 days (December 7 - January 5), which is $345,811 (91.8%) down from the average home price of $722,714 in the previous 30 day period (November 7 - December 6), and $599,347 (159.0%) lower than the same period 1 year ago ($976,250). In the last 30 days Southgate the average home price was $301,397 (80.0%) lower than the average selling price of $678,300 over the last 12 months.

Average selling price for Southgate real estate was $376,903 in the last 30 days (December 7 - January 5), which is collectively $10,592 (1.2%) lower than the average asking price of $912,261. This represents an increase of $17,933 (62.9%) compared to $28,525 (3.5%) Sold-Under-Asking price from the previous 30 day period (November 7 - December 6).

The maximum Sold Over/Under Asking ratio in Southgate during the last 12 months was recorded in April, 2024 with an average of $1,881 over the asking price, while the minimum occurring in January, 2024 with $27,170 below the asking price.

Sales to New Listings Ratio (SNLR) represents the number of sales in relation to new inventory listed over a period of time. SNLR for all property types in Southgate was 2,075.0% with 332 properties sold and 53 new properties listed in the past 30 days (December 7 - January 5). This represents an increase from 13.2% recorded during the previous 30 day period (November 7 - December 6), and an increase from 66.7% compared to the same period one year ago.

Over the the last year the highest SNLR in Southgate was 1,504.5% recorded in December and the lowest was in November at 16.3%. SNLR of under 40% generally represents the Buyers' Market, while 60% and above - the Sellers' Market, with 40% to 60% range signaling a balanced market.

The Average Days on the Market (DOM) for 332 properties that were successfully sold in Southgate in the last 30 days (December 7 - January 5) was 44 days, which is 2 days more than 42 days average in the previous 30 day period (November 7 - December 6) and 1 days longer than during the same period a year ago (43 days).

There were 281 delisted properties in Southgate, those that got either Expired, Suspended or Terminated over the last 30 days (December 7 - January 5) with an average of 103 days on the market. This is 11 days longer than the average of 92 days during the previous 30 day period (November 7 - December 6) and 13 days more compared to the same period last year average of 90 days on the market.

281 Southgate properties that didn't sell stayed on the market 134.1% longer than 332 that sucessfully sold over the last 30 days - 44 days when sold vs 103 days when delisted respectively.

Average Days on the Market in Southgate over the past 12 months for properties that have sold was 39.6 days, with 86.6 days for those properties that did not sell.

16 new properties were listed on the market in Southgate in the last 30 days (December 7 - January 5). During the same time 332 properties were sold and 281 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 597 properties (or 3,731.2%).

During the previous 30 day period (November 7 - December 6) there were 53 new properties listed, 7 sold and 33 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was November with 49 new properties listed, the slowest - January with 21 new listings and a yearly average of 33 new listings per month.

There were a total of 15 homes listed during the last 30 days (December 7 - January 5), which is 93.8% of all properties listed in Southgate. This is a 69.4% decline compared with a previous 30 day period (November 7 - December 6) and 114.3% up from the same period a year ago. Over the past year an average of 30 homes are were listed per month.

1 townhomes were listed over the last 30 days (December 7 - January 5) in Southgate, which is 6.2% of all new real estate inventory. This is a 75.0% less than during the previous 30 day period (November 7 - December 6) and 50.0% decrease compared to the same period a year ago. During the last year the average number of townhomes listed stood at 3 a month.

There were a total of 332 homes sold during the last 30 days (December 7 - January 5), which is 100.0% of all properties sold in Southgate. This is a 4,642.9% increase compared with a previous 30 day period (November 7 - December 6) and 8,200.0% up from the same period a year ago. Over the past year an average of 38 homes are were sold per month.