Harmony, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Harmony, 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

Harmony Housing Market Information

With a population of 563, 241 total housing units (homes and apartments), and a median house value of $131,136, house prices in Harmony are solidly below the national average.

Single-family detached homes are the single most common housing type in Harmony, accounting for 77.89% of the town's housing units. Other types of housing that are prevalent in Harmony include mobile homes or trailers ( 21.09%), row houses and other attached homes ( 1.02%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Harmony. Owner-occupied housing accounts for 66.80% of Harmony's homes, and 53.40% have either three or four bedrooms, which is average sized relative to America.

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. Harmony's housing was primarily built during this period, from the '40s through the '60s. A full 40.48% of the town's housing hails from this era. Other housing ages represented in Harmony include homes built between 1970-1999 ( 36.05%) and housing constructed before 1939 ( 18.71%). There's also some housing in Harmony built between 2000 and later ( 4.76%).

Vacant housing appears to be an issue in Harmony. Fully 18.03% of the housing stock is classified as vacant. Left unchecked, vacant Harmony homes and apartments can be a drag on the real estate market, holding Harmony 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.

Harmony Home Appreciation Rates

Real estate appreciation rates in Harmony's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.01% during the period.

Over the last year, Harmony appreciation rates have trailed the rest of the nation. In the last twelve months, Harmony's appreciation rate has been 1.39%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Harmony were at 1.88%, which equates to an annual appreciation rate of 7.72%.

Importantly, this makes Harmony one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to North Carolina, our data show that Harmony's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$131,136

Harmony, NC HOME PRICES

Value Range
> $1,087,000 0.5
$815,001 - $1,087,000 0.1
$543,001 - $815,000 0.5
$435,001 - $543,000 0.4
$326,001 - $435,000 8.2
$217,001 - $326,000 11.6
$109,001 - $217,000 39.1
$54,001 - $109,000 25.2
$0 - $54,000 14.3

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
59.2640337513184 54.8094373865699

Number Of Homes And Apartments:
241

Harmony 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
29.21% 1.50% 6 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$732 / per month

Homeownership Rate

Homeownership
Owners 66.80
Renters 33.20
Vacant 18.03

Housing Market Details

 

Age of Homes

AGE OF Harmony HOMES
2000 or Newer 4.8
1970 - 1999 36.1
1940 - 1969 40.5
1939 or Older 18.7

Types of Homes

TYPE OF Harmony HOMES
Single-Family 77.9
Townhomes 1.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 21.1
Other 0.0

Home Size

SIZE OF Harmony HOMES
No Bedroom 0.00
1 Bedroom 0.68
2 Bedrooms 41.50
3 Bedrooms 36.39
4 Bedrooms 17.01
5 or more bedrooms 4.42

Popular Neighborhoods in Harmony

Zip Codes in Harmony, NC