Southgate Real Estate Statistics

Southgate real estate average sold price in the last 30 days (March 10 - April 8) was $679,473, which is $43,854 (6.5%) lower than the average price of $723,327 in the previous 30 day period (February 9 - March 9), and $52,204 (7.7%) up from the same period 1 year ago ($627,269). Southgate real estate prices over the last 30 days are also $36,355 (5.4%) lower than the average selling price of $715,828 over the past year.

Southgate average sold price for homes was $704,666 in the last 30 days (March 10 - April 8), which is $66,755 (9.5%) down from the average home price of $771,421 in the previous 30 day period (February 9 - March 9), and $70,621 (10.0%) higher than the same period 1 year ago ($634,045). In the last 30 days Southgate the average home price was $24,591 (3.5%) lower than the average selling price of $729,257 over the last 12 months.

Average sold price of Southgate townhouse was $585,000 in the last 30 days (March 10 - April 8), up $30,000 (5.1%) from the average townhome price of $555,000 over the previous 30 days (February 9 - March 9), and $5,000 (0.9%) lower than during to the same period 1 year ago ($590,000). Over the last 30 days the average townhouse price in Southgate was $146,292 (25.0%) higher compared to the average selling price of $438,708 over the last 12 months.

Average selling price for Southgate real estate was $679,473 in the last 30 days (March 10 - April 8), which is collectively $4,061 (0.5%) lower than the average asking price of $766,017. This represents an increase of $27,349 (87.1%) compared to $31,410 (4.0%) Sold-Under-Asking price from the previous 30 day period (February 9 - March 9).

The maximum Sold Over/Under Asking ratio in Southgate during the last 12 months was recorded in April, 2023 with an average of $15,311 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 55.9% with 19 properties sold and 35 new properties listed in the past 30 days (March 10 - April 8). This represents an increase from 51.4% recorded during the previous 30 day period (February 9 - March 9), and an increase from 44.8% compared to the same period one year ago.

Over the the last year the highest SNLR in Southgate was 88.5% recorded in July and the lowest was in October at 20.0%. 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 19 properties that were successfully sold in Southgate in the last 30 days (March 10 - April 8) was 27 days, which is 33 days less than 60 days average in the previous 30 day period (February 9 - March 9) and 23 days shorter than during the same period a year ago (50 days).

There were 19 delisted properties in Southgate, those that got either Expired, Suspended or Terminated over the last 30 days (March 10 - April 8) with an average of 72 days on the market. This is 20 days shorter than the average of 92 days during the previous 30 day period (February 9 - March 9) and 50 days less compared to the same period last year average of 122 days on the market.

19 Southgate properties that didn't sell stayed on the market 166.7% longer than 19 that sucessfully sold over the last 30 days - 27 days when sold vs 72 days when delisted respectively.

Average Days on the Market in Southgate over the past 12 months for properties that have sold was 34.7 days, with 73.5 days for those properties that did not sell.

34 new properties were listed on the market in Southgate in the last 30 days (March 10 - April 8). During the same time 19 properties were sold and 19 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 4 properties (or 11.8%).

During the previous 30 day period (February 9 - March 9) there were 35 new properties listed, 18 sold and 16 properties that did not sell and were removed from the market.

Over the past year the busiest month for new listings was May with 40 new properties listed, the slowest - December with 9 new listings and a yearly average of 29 new listings per month.

There were a total of 32 homes listed during the last 30 days (March 10 - April 8), which is 94.1% of all properties listed in Southgate. This is a 3.2% increase compared with a previous 30 day period (February 9 - March 9) and 18.5% up from the same period a year ago. Over the past year an average of 27 homes are were listed per month.

2 townhomes were listed over the last 30 days (March 10 - April 8) in Southgate, which is 5.9% of all new real estate inventory. This is a 50.0% less than during the previous 30 day period (February 9 - March 9) and 0.0% decrease compared to the same period a year ago. During the last year the average number of townhomes listed stood at 2 a month.

There were a total of 15 homes sold during the last 30 days (March 10 - April 8), which is 78.9% of all properties sold in Southgate. This is a 7.1% increase compared with a previous 30 day period (February 9 - March 9) and 36.4% up from the same period a year ago. Over the past year an average of 13 homes are were sold per month.

4 townhomes were sold over the last 30 days (March 10 - April 8) in Southgate, which is 21.1% of all sold real estate. This is a 0.0% less than during the previous 30 day period (February 9 - March 9) and 100.0% increase compared to the same period a year ago. During the last year the average number of townhomes sold stood at 1 a month.