Advance, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Advance Neighborhoods Since 2000




Advance, NC Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Advance Housing Market Information

With 1,132 people, 350 houses or apartments, and a median cost of homes of $245,250, Advance real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Advance, accounting for 74.56% of the town's housing units. Other types of housing that are prevalent in Advance include mobile homes or trailers ( 25.44%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Advance. Owner-occupied housing accounts for 88.00% of Advance's homes, and 71.68% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Advance built from 1970 to 1999 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 Advance built before 1939 ( 15.27%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.27%). There's also some housing in Advance built between 2000 and later ( 11.95%).

Vacant housing appears to be an issue in Advance. Fully 22.57% of the housing stock is classified as vacant. Left unchecked, vacant Advance homes and apartments can be a drag on the real estate market, holding Advance 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.

Advance Home Appreciation Rates

Real estate appreciation rates in Advance's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.25% during the period.

Over the last year, Advance appreciation rates have trailed the rest of the nation. In the last twelve months, Advance's appreciation rate has been 0.65%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Advance were at -1.84%, which equates to an annual appreciation rate of -7.17%.

Notably, Advance's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Advance's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$245,250

Advance, NC HOME PRICES

Value Range
> $1,059,000 2.8
$795,001 - $1,059,000 0.6
$529,001 - $795,000 4.7
$424,001 - $529,000 9.7
$318,001 - $424,000 13.7
$211,001 - $318,000 28.3
$106,001 - $211,000 23.0
$53,001 - $106,000 8.4
$0 - $53,000 8.7

Very High for NC
High for Nation

Value Relative to Nation Value Relative to State
23.2567678424938 15.0635208711434

Number Of Homes And Apartments:
350

Advance Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
16.57% 0.89% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$801 / per month

Homeownership Rate

Homeownership
Owners 88.00
Renters 12.00
Vacant 22.57

Housing Market Details

 

Age of Homes

AGE OF Advance HOMES
2000 or Newer 11.9
1970 - 1999 59.5
1940 - 1969 13.3
1939 or Older 15.3

Types of Homes

TYPE OF Advance HOMES
Single-Family 74.6
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 25.4
Other 0.0

Home Size

SIZE OF Advance HOMES
No Bedroom 0.00
1 Bedroom 0.00
2 Bedrooms 26.55
3 Bedrooms 46.68
4 Bedrooms 25.00
5 or more bedrooms 1.77

Popular Neighborhoods in Advance

Zip Codes in Advance, NC