Connelly Springs, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Connelly Springs, 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

Connelly Springs Housing Market Information

With 1,635 people, 590 houses or apartments, and a median cost of homes of $102,283, house prices in Connelly Springs are solidly below the national average.

Single-family detached homes are the single most common housing type in Connelly Springs, accounting for 56.43% of the town's housing units. Other types of housing that are prevalent in Connelly Springs include mobile homes or trailers ( 33.77%), large apartment complexes or high rise apartments ( 5.41%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.39%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Connelly Springs. Owner-occupied housing accounts for 67.63% of Connelly Springs's homes, and 54.24% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Connelly Springs 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 Connelly Springs built between 1940-1969 ( 27.92%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.92%). There's also some housing in Connelly Springs built before 1939 ( 3.95%).

Vacant housing appears to be an issue in Connelly Springs. Fully 13.74% of the housing stock is classified as vacant. Left unchecked, vacant Connelly Springs homes and apartments can be a drag on the real estate market, holding Connelly Springs 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.

Connelly Springs Home Appreciation Rates

Real estate appreciation rates in Connelly Springs's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.23% during the period.

Over the last year, Connelly Springs appreciation rates have trailed the rest of the nation. In the last twelve months, Connelly Springs's appreciation rate has been 1.89%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Connelly Springs were at -1.33%, which equates to an annual appreciation rate of -5.22%.

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

Relative to North Carolina, our data show that Connelly Springs's latest annual appreciation rate is lower than 60% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$102,283

Connelly Springs, NC HOME PRICES

Value Range
> $1,024,000 0.5
$768,001 - $1,024,000 0.0
$511,001 - $768,000 0.3
$409,001 - $511,000 0.2
$307,001 - $409,000 1.7
$205,001 - $307,000 8.4
$102,001 - $205,000 38.3
$51,001 - $102,000 37.2
$0 - $51,000 13.4

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
76.1514121645377 78.5843920145191

Number Of Homes And Apartments:
590

Connelly Springs 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
12.13% 0.67% 2 1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$828 / per month

Homeownership Rate

Homeownership
Owners 67.63
Renters 32.37
Vacant 13.74

Housing Market Details

 

Age of Homes

AGE OF Connelly Springs HOMES
2000 or Newer 8.9
1970 - 1999 59.2
1940 - 1969 27.9
1939 or Older 3.9

Types of Homes

TYPE OF Connelly Springs HOMES
Single-Family 56.4
Townhomes 0.0
Small Apt. Buildings 4.4
Apt. Complexes 5.4
Mobile Homes 33.8
Other 0.0

Home Size

SIZE OF Connelly Springs HOMES
No Bedroom 1.75
1 Bedroom 11.99
2 Bedrooms 28.22
3 Bedrooms 45.76
4 Bedrooms 8.48
5 or more bedrooms 3.80

Popular Neighborhoods in Connelly Springs

Zip Codes in Connelly Springs, NC