Cullowhee, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Cullowhee Neighborhoods Since 2000




Cullowhee, NC Real Estate Data


Cullowhee Housing Market Information

With a population of 6,343, 1,252 total housing units (homes and apartments), and a median house value of $202,245, Cullowhee real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Cullowhee, accounting for 45.54% of the town's housing units. Other types of housing that are prevalent in Cullowhee include single-family detached homes ( 28.56%), mobile homes or trailers ( 19.95%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.15%). Towns with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact towns that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Cullowhee is dominated by renter-occupied one, two, or no bedrooms apartments. 92.74% of Cullowhee's dwellings are rentals.

There is a lot of housing in Cullowhee 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 Cullowhee built between 2000 and later ( 35.42%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.13%). There's also some housing in Cullowhee built before 1939 ( 6.79%).

Vacant housing appears to be an issue in Cullowhee. Fully 24.08% of the housing stock is classified as vacant. Left unchecked, vacant Cullowhee homes and apartments can be a drag on the real estate market, holding Cullowhee 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.

Cullowhee Home Appreciation Rates

Cullowhee's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Cullowhee during the period has been just -0.98%, which is lower than 70% of US communities.

Over the last year, Cullowhee appreciation rates have trailed the rest of the nation. In the last twelve months, Cullowhee's appreciation rate has been 3.26%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Cullowhee were at 0.99%, which equates to an annual appreciation rate of 4.04%.

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

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

Average Home Values

 

Median Home Value:
$202,245

Cullowhee, NC HOME PRICES

Value Range
> $1,008,000 0.1
$757,001 - $1,008,000 2.8
$504,001 - $757,000 0.2
$403,001 - $504,000 3.7
$302,001 - $403,000 16.1
$201,001 - $302,000 30.0
$101,001 - $201,000 25.2
$50,001 - $101,000 11.0
$0 - $50,000 10.9

High for NC
High for Nation

Value Relative to Nation Value Relative to State
32.5291327516543 24.1379310344828

Number Of Homes And Apartments:
1,252

Rent & Ownership

 

Average Market Rent:
$750 / per month

Homeownership Rate

Homeownership
Owners 7.26
Renters 92.74
Vacant 24.08

Housing Market Details

 

Age of Homes

AGE OF Cullowhee HOMES
2000 or Newer 35.4
1970 - 1999 49.7
1940 - 1969 8.1
1939 or Older 6.8

Types of Homes

TYPE OF Cullowhee HOMES
Single-Family 28.6
Townhomes 0.8
Small Apt. Buildings 5.2
Apt. Complexes 45.5
Mobile Homes 20.0
Other 0.0

Home Size

SIZE OF Cullowhee HOMES
No Bedroom 20.86
1 Bedroom 18.44
2 Bedrooms 31.53
3 Bedrooms 19.83
4 Bedrooms 9.34
5 or more bedrooms 0.00

Cullowhee 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
26.56% 1.40% 5 3
* 10 is highest