Morrisville appreciation rates and housing market information

Morrisville housing market information

With 10,083 people, 4,082 houses or apartments, and a median cost of homes of $460,693, Morrisville house prices are not only among the most expensive in North Carolina, Morrisville 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 Morrisville, accounting for 60.44% of the town's housing units. Other types of housing that are prevalent in Morrisville include large apartment complexes or high rise apartments (24.60%), row houses and other attached homes (6.86%), mobile homes or trailers (4.46%), and a few duplexes, homes converted to apartments, or other small apartment buildings (3.67%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Morrisville. Owner-occupied housing accounts for 62.54% of Morrisville's homes, and 58.33% have either three or four bedrooms, which is average sized relative to America.

Morrisville homes and real estate are some of the newest in America. 58.33% of Morrisville's housing was built since 1995, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Morrisville real estate market has to offer. Quit a bit of the housing here was also built between 1970-1994 (34.37%), and 1940-1969 (4.97%).

Vacant housing appears to be an issue in Morrisville. Fully 12.74% of the housing stock is classified as vacant. Left unchecked, vacant Morrisville homes and apartments can be a drag on the real estate market, holding Morrisville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Morrisville home appreciation rates

In the last 10 years, Morrisville has experienced some of the highest home appreciation rates of any community in the nation. Morrisville real estate appreciated 140.07% over the last ten years, which is an average annual home appreciation rate of 14.00%, putting Morrisville in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Morrisville 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 Morrisville that despite a nationwide downturn in the housing market, Morrisville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Morrisville appreciation rates continue to be some of the highest in America, at 10.31%, 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 Morrisville. Morrisville appreciation rates in the latest quarter were at 1.83%, which equates to an annual appreciation rate of 7.32%.

Importantly, this makes Morrisville 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 Morrisville's latest annual appreciation rate is higher than 98% of the other cities and towns in North Carolina.