Laurel Park, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Laurel Park Neighborhoods Since 2000




Laurel Park, 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

Laurel Park Housing Market Information

With 2,314 people, 1,171 houses or apartments, and a median cost of homes of $292,404, Laurel Park real estate is some of the most expensive in North Carolina, although Laurel Park home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Laurel Park, accounting for 59.82% of the town's housing units. Other types of housing that are prevalent in Laurel Park include row houses and other attached homes ( 18.32%), duplexes, homes converted to apartments or other small apartment buildings ( 14.78%), and a few large apartment complexes or high rise apartments ( 7.08%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Laurel Park. Owner-occupied housing accounts for 75.11% of Laurel Park's homes, and 62.60% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Laurel Park 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 Laurel Park built between 1940-1969 ( 17.07%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.39%). There's also some housing in Laurel Park built before 1939 ( 9.23%).

Vacant housing appears to be an issue in Laurel Park. Fully 18.74% of the housing stock is classified as vacant. Left unchecked, vacant Laurel Park homes and apartments can be a drag on the real estate market, holding Laurel Park 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.

Laurel Park Home Appreciation Rates

Real estate appreciation rates in Laurel Park's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.07% during the period.

Appreciation rates are so strong in Laurel Park that despite a nationwide downturn in the housing market, Laurel Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Laurel Park appreciation rates continue to be some of the highest in America, at 6.23%, which is higher than appreciation rates in 76.04% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Laurel Park. Laurel Park appreciation rates in the latest quarter were at 1.50%, which equates to an annual appreciation rate of 6.15%.

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

Average Home Values

 

Median Home Value:
$292,404

Laurel Park, NC HOME PRICES

Value Range
> $1,138,000 0.4
$854,001 - $1,138,000 0.6
$570,001 - $854,000 6.9
$455,001 - $570,000 7.3
$342,001 - $455,000 16.1
$228,001 - $342,000 35.4
$114,001 - $228,000 28.3
$57,001 - $114,000 3.7
$0 - $57,000 1.4

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
16.9752724715809 8.71143375680581

Number Of Homes And Apartments:
1,171

Laurel Park 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
45.99% 2.22% 9 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,241 / per month

Homeownership Rate

Homeownership
Owners 75.11
Renters 24.89
Vacant 18.74

Housing Market Details

 

Age of Homes

AGE OF Laurel Park HOMES
2000 or Newer 13.4
1970 - 1999 60.3
1940 - 1969 17.1
1939 or Older 9.2

Types of Homes

TYPE OF Laurel Park HOMES
Single-Family 59.8
Townhomes 18.3
Small Apt. Buildings 14.8
Apt. Complexes 7.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Laurel Park HOMES
No Bedroom 2.64
1 Bedroom 1.73
2 Bedrooms 29.63
3 Bedrooms 50.94
4 Bedrooms 11.66
5 or more bedrooms 3.40

Popular Neighborhoods in Laurel Park

Zip Codes in Laurel Park, NC