Shelby, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Shelby, NC Real Estate Data


Shelby Housing Market Information

With 20,189 people, 8,070 houses or apartments, and a median cost of homes of $123,362, house prices in Shelby are solidly below the national average.

Single-family detached homes are the single most common housing type in Shelby, accounting for 72.06% of the city's housing units. Other types of housing that are prevalent in Shelby include large apartment complexes or high rise apartments ( 15.84%), duplexes, homes converted to apartments or other small apartment buildings ( 8.87%), and a few mobile homes or trailers ( 1.65%).

The most prevalent building size and type in Shelby are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.63% owning and 48.37% renting.

There is a lot of housing in Shelby 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 Shelby built between 1940-1969 ( 39.26%). A lesser amount of the housing stock also hails from before 1939 ( 8.45%). There's also some housing in Shelby built between 2000 and later ( 6.91%).

Vacant housing appears to be an issue in Shelby. Fully 15.10% of the housing stock is classified as vacant. Left unchecked, vacant Shelby homes and apartments can be a drag on the real estate market, holding Shelby 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.

Shelby Home Appreciation Rates

Real estate appreciation rates in Shelby's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.23% during the period.

NeighborhoodScout's data show that during the latest twelve months, Shelby's appreciation rate, at 5.60%, has been at or slightly above the national average. In the latest quarter, Shelby's appreciation rate has been 0.99%, which annualizes to a rate of 4.04%.

Notably, Shelby's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Carolina, our data show that Shelby'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 Shelby differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shelby - 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 Shelby real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$123,362

Shelby, NC HOME PRICES

Value Range
> $1,066,000 0.5
$799,001 - $1,066,000 0.3
$533,001 - $799,000 1.1
$427,001 - $533,000 1.3
$320,001 - $427,000 2.4
$213,001 - $320,000 10.9
$107,001 - $213,000 39.7
$53,001 - $107,000 35.1
$0 - $53,000 8.8

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
64.402412601745 62.0689655172414

Number Of Homes And Apartments:
8,070

Rent & Ownership

 

Average Market Rent:
$784 / per month

Homeownership Rate

Homeownership
Owners 51.63
Renters 48.37
Vacant 15.10

Housing Market Details

 

Age of Homes

AGE OF Shelby HOMES
2000 or Newer 6.9
1970 - 1999 45.4
1940 - 1969 39.3
1939 or Older 8.4

Types of Homes

TYPE OF Shelby HOMES
Single-Family 72.1
Townhomes 1.6
Small Apt. Buildings 8.9
Apt. Complexes 15.8
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Shelby HOMES
No Bedroom 2.04
1 Bedroom 6.45
2 Bedrooms 34.66
3 Bedrooms 42.49
4 Bedrooms 11.60
5 or more bedrooms 2.76

Shelby 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
15.86% 0.87% 3 2
* 10 is highest