Concord, NC Real Estate Market

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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Concord, NC Housing Market Trends

With a population of 105,240, 33,059 total housing units (homes and apartments), and a median house value of $315,859, Concord real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Concord, accounting for 74.51% of the city's housing units. Other types of housing that are prevalent in Concord include large apartment complexes or high rise apartments ( 14.74%), duplexes, homes converted to apartments or other small apartment buildings ( 4.48%), and a few row houses and other attached homes ( 4.23%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Concord. Owner-occupied housing accounts for 68.63% of Concord's homes, and 61.00% have either three or four bedrooms, which is average sized relative to America.

Concord homes and real estate are some of the newest in America. 40.30% of Concord's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Concord real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 36.25%), and between 1940-1969 ( 17.19%). There's also some housing in Concord built before 1939 ( 6.26%).

Vacant housing appears to be an issue in Concord. Fully 10.89% of the housing stock is classified as vacant. Left unchecked, vacant Concord homes and apartments can be a drag on the real estate market, holding Concord 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.

Concord Home Appreciation Rates

Appreciation rates for homes in Concord have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 83.55%, which ranks in the top 30% nationwide. This equates to an annual average Concord house appreciation rate of 6.26%.

Appreciation rates are so strong in Concord that despite a nationwide downturn in the housing market, Concord real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Concord appreciation rates continue to be some of the highest in America, at 22.30%, which is higher than appreciation rates in 82.09% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Concord. Concord appreciation rates in the latest quarter were at 8.27%, which equates to an annual appreciation rate of 37.40%.

Relative to North Carolina, our data show that Concord's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Concord differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Concord - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Concord real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$315,859

Concord, NC HOME PRICES

> $1,438,000
0.5%
0.5%
$1,078,001 - $1,438,000
0.6%
0.6%
$719,001 - $1,078,000
2.7%
2.7%
$575,001 - $719,000
6.9%
6.9%
$431,001 - $575,000
14.2%
14.2%
$288,001 - $431,000
27.4%
27.4%
$144,001 - $288,000
34.0%
34.0%
$72,001 - $144,000
9.8%
9.8%
$0 - $72,000
3.9%
3.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for NC

Value Relative To Nation

Number Of Homes And Apartments:
33,059

Concord Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
99.69% 3.19%
7
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,718 / per month

Homeownership Rate

Owners
68.6%
68.6%
Renters
31.4%
31.4%
Vacant
10.9%
10.9%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
40.3%
40.3%
1970 - 1999
36.3%
36.3%
1940 - 1969
17.2%
17.2%
1939 or Older
6.3%
6.3%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
74.5%
74.5%
Townhomes
4.2%
4.2%
Small Apt. Buildings
4.5%
4.5%
Apt. Complexes
14.7%
14.7%
Mobile Homes
2.0%
2.0%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.4%
3.4%
1 Bedroom
6.3%
6.3%
2 Bedrooms
21.6%
21.6%
3 Bedrooms
39.2%
39.2%
4 Bedrooms
21.8%
21.8%
5 or more bedrooms
7.7%
7.7%
0.0% 100.0%
% OF HOMES