Southern Shores's real estate market is experiencing a price correction, with values down 11.1% from last year. Home prices have decreased 24.2% in the past month. With 38 active listings, inventory is 217% higher than seasonal norms. Transaction volume is up 80% compared to what's typically expected this time of year. Only 11.1% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Southern Shores market with the affordability index at 1091.7. Based on current market indicators, home prices in Southern Shores are projected to increase by approximately 5.4% over the next month.