Pittsboro, NC Real Estate Market

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 Q4 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Pittsboro, NC Housing Market Trends

With a population of 4,537, 1,861 total housing units (homes and apartments), and a median house value of $375,047, Pittsboro real estate is some of the most expensive in North Carolina, although Pittsboro home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Pittsboro, accounting for 61.56% of the town's housing units. Other types of housing that are prevalent in Pittsboro include duplexes, homes converted to apartments or other small apartment buildings ( 16.65%), large apartment complexes or high rise apartments ( 10.95%), and a few row houses and other attached homes ( 6.73%).

The most prevalent building size and type in Pittsboro are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 61.26% owning and 38.74% renting.

Pittsboro homes and real estate are some of the newest in America. 49.59% of Pittsboro's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Pittsboro real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 41.78%), and between 1940-1969 ( 6.22%). There's also some housing in Pittsboro built before 1939 ( 2.42%).

Pittsboro Home Appreciation Rates

Appreciation rates for homes in Pittsboro have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 70.62%, which ranks in the top 40% nationwide. This equates to an annual average Pittsboro house appreciation rate of 5.49%.

NeighborhoodScout's data show that during the latest twelve months, Pittsboro's appreciation rate, at 20.42%, has been at or slightly above the national average. In the latest quarter, Pittsboro's appreciation rate has been 8.76%, which annualizes to a rate of 39.94%.

Importantly, this makes Pittsboro 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 Pittsboro's latest annual appreciation rate is lower than 80% of the other cities and towns in North Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Pittsboro differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Pittsboro - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Pittsboro real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$375,047

Pittsboro, NC HOME PRICES

> $1,360,000
1.3%
1.3%
$1,020,001 - $1,360,000
0.4%
0.4%
$680,001 - $1,020,000
7.9%
7.9%
$544,001 - $680,000
7.2%
7.2%
$408,001 - $544,000
32.7%
32.7%
$272,001 - $408,000
25.2%
25.2%
$136,001 - $272,000
17.0%
17.0%
$68,001 - $136,000
4.4%
4.4%
$0 - $68,000
3.9%
3.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Very High for NC

Value Relative To Nation

Number Of Homes And Apartments:
1,861

Pittsboro Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2021 Q3 - 2021 Q4
Last 12 Months:
2020 Q4 - 2021 Q4
Last 2 Years:
2019 Q4 - 2021 Q4
Last 5 Years:
2016 Q4 - 2021 Q4
Last 10 Years:
2011 Q4 - 2021 Q4
Since 2000:
2000 Q1 - 2021 Q4
98.98% 3.18%
7
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,275 / per month

Homeownership Rate

Owners
61.3%
61.3%
Renters
38.7%
38.7%
Vacant
4.4%
4.4%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
49.6%
49.6%
1970 - 1999
41.8%
41.8%
1940 - 1969
6.2%
6.2%
1939 or Older
2.4%
2.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
61.6%
61.6%
Townhomes
6.7%
6.7%
Small Apt. Buildings
16.6%
16.6%
Apt. Complexes
10.9%
10.9%
Mobile Homes
4.1%
4.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.0%
0.0%
1 Bedroom
9.0%
9.0%
2 Bedrooms
30.8%
30.8%
3 Bedrooms
48.0%
48.0%
4 Bedrooms
11.5%
11.5%
5 or more bedrooms
0.7%
0.7%
0.0% 100.0%
% OF HOMES