Burgaw, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Burgaw, NC Real Estate Data


Burgaw Housing Market Information

With a population of 4,100, 1,203 total housing units (homes and apartments), and a median house value of $132,516, house prices in Burgaw are solidly below the national average.

Single-family detached homes are the single most common housing type in Burgaw, accounting for 69.06% of the town's housing units. Other types of housing that are prevalent in Burgaw include large apartment complexes or high rise apartments ( 23.00%), mobile homes or trailers ( 5.28%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.67%).

The most prevalent building size and type in Burgaw are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 35.80% owning and 64.20% renting.

There is a lot of housing in Burgaw 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 Burgaw built between 1940-1969 ( 28.14%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.56%). There's also some housing in Burgaw built before 1939 ( 10.03%).

Vacant housing appears to be an issue in Burgaw. Fully 21.63% of the housing stock is classified as vacant. Left unchecked, vacant Burgaw homes and apartments can be a drag on the real estate market, holding Burgaw 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.

Burgaw Home Appreciation Rates

Burgaw's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Burgaw during the period has been just -1.10%, which is lower than 70% of US communities.

Appreciation rates are so strong in Burgaw that despite a nationwide downturn in the housing market, Burgaw real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Burgaw appreciation rates continue to be some of the highest in America, at 7.80%, which is higher than appreciation rates in 90.36% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Burgaw. Burgaw appreciation rates in the latest quarter were at -0.10%, which equates to an annual appreciation rate of -0.38%.

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

Relative to North Carolina, our data show that Burgaw's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$132,516

Burgaw, NC HOME PRICES

Value Range
> $1,127,000 0.0
$846,001 - $1,127,000 0.0
$563,001 - $846,000 1.1
$451,001 - $563,000 1.5
$338,001 - $451,000 6.2
$225,001 - $338,000 13.1
$113,001 - $225,000 33.3
$56,001 - $113,000 28.9
$0 - $56,000 16.0

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
59.4220296304972 55.535390199637

Number Of Homes And Apartments:
1,203

Rent & Ownership

 

Average Market Rent:
$762 / per month

Homeownership Rate

Homeownership
Owners 35.80
Renters 64.20
Vacant 21.63

Housing Market Details

 

Age of Homes

AGE OF Burgaw HOMES
2000 or Newer 21.6
1970 - 1999 40.3
1940 - 1969 28.1
1939 or Older 10.0

Types of Homes

TYPE OF Burgaw HOMES
Single-Family 69.1
Townhomes 0.0
Small Apt. Buildings 2.7
Apt. Complexes 23.0
Mobile Homes 5.3
Other 0.0

Home Size

SIZE OF Burgaw HOMES
No Bedroom 3.52
1 Bedroom 7.75
2 Bedrooms 23.26
3 Bedrooms 47.95
4 Bedrooms 15.57
5 or more bedrooms 1.95

Burgaw Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
33.36% 1.71% 7 4
* 10 is highest

Popular Neighborhoods in Burgaw

Zip Codes in Burgaw, NC