Granite Falls, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Granite Falls, 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

Granite Falls Housing Market Information

With 4,662 people, 1,706 houses or apartments, and a median cost of homes of $122,731, house prices in Granite Falls are solidly below the national average.

Single-family detached homes are the single most common housing type in Granite Falls, accounting for 74.51% of the town's housing units. Other types of housing that are prevalent in Granite Falls include large apartment complexes or high rise apartments ( 16.55%), mobile homes or trailers ( 4.27%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 3.64%).

The most prevalent building size and type in Granite Falls are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 61.52% owning and 38.48% renting.

There is a lot of housing in Granite Falls 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 Granite Falls built between 1940-1969 ( 25.29%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.48%). There's also some housing in Granite Falls built before 1939 ( 11.55%).

Vacant housing appears to be an issue in Granite Falls. Fully 17.18% of the housing stock is classified as vacant. Left unchecked, vacant Granite Falls homes and apartments can be a drag on the real estate market, holding Granite Falls 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.

Granite Falls Home Appreciation Rates

Real estate appreciation rates in Granite Falls's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.25% during the period.

NeighborhoodScout's data show that during the latest twelve months, Granite Falls's appreciation rate, at 3.72%, has been at or slightly above the national average. In the latest quarter, Granite Falls's appreciation rate has been -1.33%, which annualizes to a rate of -5.22%.

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

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

Average Home Values

 

Median Home Value:
$122,731

Granite Falls, NC HOME PRICES

Value Range
> $1,075,000 0.5
$806,001 - $1,075,000 0.6
$538,001 - $806,000 0.8
$430,001 - $538,000 1.9
$323,001 - $430,000 1.8
$215,001 - $323,000 7.5
$108,001 - $215,000 46.1
$54,001 - $108,000 29.2
$0 - $54,000 11.6

Average for NC
Low for Nation

Value Relative to Nation Value Relative to State
63.9165592405953 59.5281306715064

Number Of Homes And Apartments:
1,706

Granite Falls 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
17.50% 0.94% 4 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$788 / per month

Homeownership Rate

Homeownership
Owners 61.52
Renters 38.48
Vacant 17.18

Housing Market Details

 

Age of Homes

AGE OF Granite Falls HOMES
2000 or Newer 12.5
1970 - 1999 50.7
1940 - 1969 25.3
1939 or Older 11.6

Types of Homes

TYPE OF Granite Falls HOMES
Single-Family 74.5
Townhomes 1.0
Small Apt. Buildings 3.6
Apt. Complexes 16.6
Mobile Homes 4.3
Other 0.0

Home Size

SIZE OF Granite Falls HOMES
No Bedroom 0.00
1 Bedroom 4.22
2 Bedrooms 36.50
3 Bedrooms 46.31
4 Bedrooms 10.83
5 or more bedrooms 2.14

Popular Neighborhoods in Granite Falls

Zip Codes in Granite Falls, NC