Salisbury, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Salisbury, NC Real Estate Data


Salisbury Housing Market Information

With 34,017 people, 12,428 houses or apartments, and a median cost of homes of $151,119, Salisbury real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Salisbury, accounting for 61.91% of the city's housing units. Other types of housing that are prevalent in Salisbury include large apartment complexes or high rise apartments ( 18.37%), duplexes, homes converted to apartments or other small apartment buildings ( 12.74%), and a few mobile homes or trailers ( 4.53%).

The most prevalent building size and type in Salisbury are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 44.13% owning and 55.87% renting.

There is a lot of housing in Salisbury 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 Salisbury built between 1940-1969 ( 31.90%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.88%). There's also some housing in Salisbury built before 1939 ( 12.64%).

Vacant housing appears to be an issue in Salisbury. Fully 14.53% of the housing stock is classified as vacant. Left unchecked, vacant Salisbury homes and apartments can be a drag on the real estate market, holding Salisbury 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.

Salisbury Home Appreciation Rates

Real estate appreciation rates in Salisbury's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.29% during the period.

Appreciation rates are so strong in Salisbury that despite a nationwide downturn in the housing market, Salisbury real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Salisbury appreciation rates continue to be some of the highest in America, at 6.43%, which is higher than appreciation rates in 79.32% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Salisbury. Salisbury appreciation rates in the latest quarter were at 1.57%, which equates to an annual appreciation rate of 6.43%.

Relative to North Carolina, our data show that Salisbury's latest annual appreciation rate is higher 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 city. Individual neighborhoods within Salisbury differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Salisbury - 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 Salisbury real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$151,119

Salisbury, NC HOME PRICES

Value Range
> $1,103,000 0.3
$827,001 - $1,103,000 0.0
$552,001 - $827,000 1.4
$441,001 - $552,000 2.6
$331,001 - $441,000 4.3
$221,001 - $331,000 13.1
$110,001 - $221,000 40.3
$55,001 - $110,000 30.7
$0 - $55,000 7.4

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
50.2459448380863 44.2831215970962

Number Of Homes And Apartments:
12,428

Rent & Ownership

 

Average Market Rent:
$936 / per month

Homeownership Rate

Homeownership
Owners 44.13
Renters 55.87
Vacant 14.53

Housing Market Details

 

Age of Homes

AGE OF Salisbury HOMES
2000 or Newer 15.9
1970 - 1999 39.6
1940 - 1969 31.9
1939 or Older 12.6

Types of Homes

TYPE OF Salisbury HOMES
Single-Family 61.9
Townhomes 2.4
Small Apt. Buildings 12.7
Apt. Complexes 18.4
Mobile Homes 4.5
Other 0.0

Home Size

SIZE OF Salisbury HOMES
No Bedroom 4.10
1 Bedroom 9.40
2 Bedrooms 34.00
3 Bedrooms 38.52
4 Bedrooms 10.57
5 or more bedrooms 3.41

Salisbury 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
14.69% 0.81% 2 1
* 10 is highest