Salisbury, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Salisbury Neighborhoods Since 2000




Salisbury, 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

Salisbury Housing Market Information

With 34,017 people, 12,650 houses or apartments, and a median cost of homes of $140,016, 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 60.67% of the city's housing units. Other types of housing that are prevalent in Salisbury include large apartment complexes or high rise apartments ( 19.70%), duplexes, homes converted to apartments or other small apartment buildings ( 12.11%), and a few mobile homes or trailers ( 4.71%).

People in Salisbury primarily live in small (one, two or no bedroom) single-family detached homes. Salisbury has a mixture of owner-occupied and renter-occupied housing.

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 ( 31.17%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.83%). There's also some housing in Salisbury built before 1939 ( 13.34%).

Vacant housing appears to be an issue in Salisbury. Fully 15.06% 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 -0.21% 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 5.60%, which is higher than appreciation rates in 70.36% 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 1.88%, which equates to an annual appreciation rate of 7.72%.

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

Relative to North Carolina, our data show that Salisbury's latest annual appreciation rate is higher than 70% 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:
$140,016

Salisbury, NC HOME PRICES

Value Range
> $1,109,000 0.2
$832,001 - $1,109,000 0.3
$554,001 - $832,000 1.6
$443,001 - $554,000 2.8
$333,001 - $443,000 3.6
$222,001 - $333,000 14.6
$111,001 - $222,000 41.2
$56,001 - $111,000 28.2
$0 - $56,000 7.5

Average for NC
Average for Nation

Value Relative to Nation Value Relative to State
54.7345599437478 48.6388384754991

Number Of Homes And Apartments:
12,650

Salisbury 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
16.31% 0.88% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$947 / per month

Homeownership Rate

Homeownership
Owners 43.77
Renters 56.23
Vacant 15.06

Housing Market Details

 

Age of Homes

AGE OF Salisbury HOMES
2000 or Newer 16.8
1970 - 1999 38.7
1940 - 1969 31.2
1939 or Older 13.3

Types of Homes

TYPE OF Salisbury HOMES
Single-Family 60.7
Townhomes 2.8
Small Apt. Buildings 12.1
Apt. Complexes 19.7
Mobile Homes 4.7
Other 0.0

Home Size

SIZE OF Salisbury HOMES
No Bedroom 4.94
1 Bedroom 9.90
2 Bedrooms 34.01
3 Bedrooms 37.39
4 Bedrooms 10.26
5 or more bedrooms 3.50