Southgate Real Estate Statistics

Southgate real estate average sold price in the last 30 days (January 21 - February 19) was $666,923, which is $102,507 (15.4%) higher than the average price of $564,416 in the previous 30 day period (December 22 - January 20), and $71,923 (10.8%) up from the same period 1 year ago ($595,000). Southgate real estate prices over the last 30 days are also $10,866 (1.6%) higher than the average selling price of $656,057 over the past year.

Southgate average sold price for homes was $674,166 in the last 30 days (January 21 - February 19), which is $109,750 (16.3%) up from the average home price of $564,416 in the previous 30 day period (December 22 - January 20), and $79,166 (11.7%) higher than the same period 1 year ago ($595,000). In the last 30 days Southgate the average home price was $9,186 (1.4%) higher than the average selling price of $664,980 over the last 12 months.

Average selling price for Southgate real estate was $666,923 in the last 30 days (January 21 - February 19), which is collectively $22,853 (3.0%) lower than the average asking price of $755,751. This represents a decline of $24,686 (1,346.8%) compared to $1,833 (0.2%) Sold-Over-Asking price from the previous 30 day period (December 22 - January 20).

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 November, 2024 with $22,586 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 36.1% with 13 properties sold and 23 new properties listed in the past 30 days (January 21 - February 19). This represents an increase from 26.1% recorded during the previous 30 day period (December 22 - January 20), and an increase from 34.6% 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 January at 10.5%. 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 13 properties that were successfully sold in Southgate in the last 30 days (January 21 - February 19) was 63 days, which is 44 days less than 107 days average in the previous 30 day period (December 22 - January 20) and 6 days shorter than during the same period a year ago (69 days).

There were 24 delisted properties in Southgate, those that got either Expired, Suspended or Terminated over the last 30 days (January 21 - February 19) with an average of 103 days on the market. This is 16 days shorter than the average of 119 days during the previous 30 day period (December 22 - January 20) and 2 days less compared to the same period last year average of 105 days on the market.

24 Southgate properties that didn't sell stayed on the market 63.5% longer than 13 that sucessfully sold over the last 30 days - 63 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 37.3 days, with 84.7 days for those properties that did not sell.

36 new properties were listed on the market in Southgate in the last 30 days (January 21 - February 19). During the same time 13 properties were sold and 24 listings were removed from the market (Expired, Suspended or Terminated), which represents a decrease in total inventory by 1 properties (or 2.8%).

During the previous 30 day period (December 22 - January 20) there were 23 new properties listed, 6 sold and 32 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 - August with 22 new listings and a yearly average of 34 new listings per month.

There were a total of 31 homes listed during the last 30 days (January 21 - February 19), which is 86.1% of all properties listed in Southgate. This is a 47.6% increase compared with a previous 30 day period (December 22 - January 20) and 24.0% up from the same period a year ago. Over the past year an average of 31 homes are were listed per month.

5 townhomes were listed over the last 30 days (January 21 - February 19) in Southgate, which is 13.9% of all new real estate inventory. This is a 150.0% more than during the previous 30 day period (December 22 - January 20) and 400.0% increase 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 12 homes sold during the last 30 days (January 21 - February 19), which is 92.3% of all properties sold in Southgate. This is a 100.0% increase compared with a previous 30 day period (December 22 - January 20) and 33.3% up from the same period a year ago. Over the past year an average of 43 homes are were sold per month.