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Selma, 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 Q3 2022. 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

Selma, NC Housing Market Trends

With a population of 6,601, 2,561 total housing units (homes and apartments), and a median house value of $226,011, Selma 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 Selma, accounting for 58.58% of the town's housing units. Other types of housing that are prevalent in Selma include duplexes, homes converted to apartments or other small apartment buildings ( 16.91%), large apartment complexes or high rise apartments ( 12.03%), and a few mobile homes or trailers ( 9.52%).

Selma is dominated by renter-occupied one, two, or no bedrooms apartments. 70.78% of Selma's dwellings are rentals.

There is a lot of housing in Selma 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 Selma built between 1940-1969 ( 34.96%). A lesser amount of the housing stock also hails from before 1939 ( 11.76%). There's also some housing in Selma built between 2000 and later ( 8.73%).

Vacant housing appears to be an issue in Selma. Fully 11.96% of the housing stock is classified as vacant. Left unchecked, vacant Selma homes and apartments can be a drag on the real estate market, holding Selma 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.

Selma Home Appreciation Rates

In the last 10 years, Selma has experienced some of the highest home appreciation rates of any community in the nation. Selma real estate appreciated 112.39% over the last ten years, which is an average annual home appreciation rate of 7.82%, putting Selma in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Selma definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Selma that despite a nationwide downturn in the housing market, Selma real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Selma appreciation rates continue to be some of the highest in America, at 27.31%, which is higher than appreciation rates in 99.60% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Selma. Selma appreciation rates in the latest quarter were at 6.88%, which equates to an annual appreciation rate of 30.47%.

Importantly, this makes Selma 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 Selma's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$226,011

Selma, NC HOME PRICES

> $1,914,000
$1,435,001 - $1,914,000
$957,001 - $1,435,000
$765,001 - $957,000
$574,001 - $765,000
$383,001 - $574,000
$191,001 - $383,000
$96,001 - $191,000
$0 - $96,000
0.0%
0.0%
0.0%
0.0%
0.3%
0.3%
0.6%
0.6%
1.6%
1.6%
10.2%
10.2%
52.8%
52.8%
28.2%
28.2%
6.3%
6.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

Average for NC

Value Relative To Nation

Number Of Homes And Apartments:
2,561

Selma Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2022 Q2 - 2022 Q3
Last 12 Months:
2021 Q3 - 2022 Q3
Last 2 Years:
2020 Q3 - 2022 Q3
Last 5 Years:
2017 Q3 - 2022 Q3
Last 10 Years:
2012 Q3 - 2022 Q3
Since 2000:
2000 Q1 - 2022 Q3
118.29% 3.49%
6
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,235 / per month

Homeownership Rate

Owners
Renters
Vacant
29.2%
29.2%
70.8%
70.8%
12.0%
12.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
8.7%
8.7%
44.6%
44.6%
35.0%
35.0%
11.8%
11.8%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
58.6%
58.6%
3.0%
3.0%
16.9%
16.9%
12.0%
12.0%
9.5%
9.5%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.2%
3.2%
14.3%
14.3%
33.4%
33.4%
40.3%
40.3%
7.9%
7.9%
0.8%
0.8%
0.0% 100.0%
% OF HOMES