China Grove, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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China Grove, NC Real Estate Data


China Grove Housing Market Information

With 4,182 people, 1,535 houses or apartments, and a median cost of homes of $147,069, China Grove real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in China Grove, accounting for 82.02% of the town's housing units. Other types of housing that are prevalent in China Grove include large apartment complexes or high rise apartments ( 10.95%), mobile homes or trailers ( 5.53%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.50%).

The most prevalent building size and type in China Grove are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 54.52% owning and 45.48% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. China Grove's housing was primarily built during this period, from the '40s through the '60s. A full 44.39% of the town's housing hails from this era. Other housing ages represented in China Grove include homes built between 1970-1999 ( 33.39%) and housing constructed before 1939 ( 17.82%). There's also some housing in China Grove built between 2000 and later ( 4.40%).

Vacant housing appears to be an issue in China Grove. Fully 17.61% of the housing stock is classified as vacant. Left unchecked, vacant China Grove homes and apartments can be a drag on the real estate market, holding China Grove 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.

China Grove Home Appreciation Rates

Real estate appreciation rates in China Grove's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.27% during the period.

Appreciation rates are so strong in China Grove that despite a nationwide downturn in the housing market, China Grove real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, China Grove appreciation rates continue to be some of the highest in America, at 7.57%, which is higher than appreciation rates in 88.99% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in China Grove. China Grove appreciation rates in the latest quarter were at 1.57%, which equates to an annual appreciation rate of 6.43%.

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

Average Home Values

 

Median Home Value:
$147,069

China Grove, NC HOME PRICES

Value Range
> $1,114,000 0.0
$835,001 - $1,114,000 0.1
$557,001 - $835,000 2.0
$446,001 - $557,000 1.3
$334,001 - $446,000 2.5
$222,001 - $334,000 12.2
$112,001 - $222,000 45.6
$56,001 - $112,000 28.1
$0 - $56,000 8.2

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
52.2691339228202 47.5499092558984

Number Of Homes And Apartments:
1,535

Rent & Ownership

 

Average Market Rent:
$901 / per month

Homeownership Rate

Homeownership
Owners 54.52
Renters 45.48
Vacant 17.61

Housing Market Details

 

Age of Homes

AGE OF China Grove HOMES
2000 or Newer 4.4
1970 - 1999 33.4
1940 - 1969 44.4
1939 or Older 17.8

Types of Homes

TYPE OF China Grove HOMES
Single-Family 82.0
Townhomes 0.0
Small Apt. Buildings 1.5
Apt. Complexes 11.0
Mobile Homes 5.5
Other 0.0

Home Size

SIZE OF China Grove HOMES
No Bedroom 0.00
1 Bedroom 5.58
2 Bedrooms 32.21
3 Bedrooms 51.53
4 Bedrooms 9.88
5 or more bedrooms 0.81

China Grove 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
13.75% 0.76% 2 1
* 10 is highest

Popular Neighborhoods in China Grove

Zip Codes in China Grove, NC