Blowing Rock appreciation rates and housing market information

Blowing Rock housing market information

With 1,434 people, 1,519 houses or apartments, and a median cost of homes of $401,063, Blowing Rock house prices are not only among the most expensive in North Carolina, Blowing Rock real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Blowing Rock, accounting for 76.37% of the town's housing units. Other types of housing that are prevalent in Blowing Rock include large apartment complexes or high rise apartments (9.94%), duplexes, homes converted to apartments, or other small apartment buildings (8.69%), row houses and other attached homes (4.28%), and a few mobile homes or trailers (0.72%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Blowing Rock. Owner-occupied housing accounts for 31.20% of Blowing Rock's homes, and 54.12% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Blowing Rock built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Blowing Rock built from 1940-1969 (28.77%). A lesser amount of the housing stock also hails from 1939 and earlier (13.23%), and some were built from 1995 and later (13.23%).

A decent proportion of the Blowing Rock housing stock is seasonally occupied. That is, homes and condos in Blowing Rock are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Blowing Rock housing market speaks to its popularity as a vacation location of choice.

Blowing Rock home appreciation rates

In the last 10 years, Blowing Rock has experienced some of the highest home appreciation rates of any community in the nation. Blowing Rock real estate appreciated 140.86% over the last ten years, which is an average annual home appreciation rate of 14.08%, putting Blowing Rock in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Blowing Rock 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 Blowing Rock that despite a nationwide downturn in the housing market, Blowing Rock real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Blowing Rock appreciation rates continue to be some of the highest in America, at 11.24%, which is higher than appreciation rates in 99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Blowing Rock. Blowing Rock appreciation rates in the latest quarter were at 3.77%, which equates to an annual appreciation rate of 15.08%.

Importantly, this makes Blowing Rock one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to North Carolina, our data show that Blowing Rock's latest annual appreciation rate is higher than 99% of the other cities and towns in North Carolina.