Summerfield NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Summerfield, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Summerfield Housing Market Information

With a population of 11,278, 3,891 total housing units (homes and apartments), and a median house value of $398,935, Summerfield house prices are not only among the most expensive in North Carolina, Summerfield real estate also is some of the most expensive in all of America.

Summerfield is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Summerfield than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Summerfield. Owner-occupied housing accounts for 88.16% of Summerfield's homes, and 78.31% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Summerfield 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 Summerfield built between 2000 and later ( 37.01%). A lesser amount of the housing stock also hails from between 1940-1969 ( 11.06%). There's also some housing in Summerfield built before 1939 ( 2.73%).

Summerfield Home Appreciation Rates

Real estate appreciation rates in Summerfield's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 2.00% during the period.

NeighborhoodScout's data show that during the latest twelve months, Summerfield's appreciation rate, at 4.28%, has been at or slightly above the national average. In the latest quarter, Summerfield's appreciation rate has been 1.65%, which annualizes to a rate of 6.76%.

Importantly, this makes Summerfield 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 Summerfield's latest annual appreciation rate is lower than 70% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$398,935

Summerfield, NC HOME PRICES

Value Range
> $1,146,000 1.4
$860,001 - $1,146,000 3.7
$573,001 - $860,000 19.1
$459,001 - $573,000 11.3
$344,001 - $459,000 22.3
$229,001 - $344,000 19.9
$115,001 - $229,000 17.6
$57,001 - $115,000 1.9
$0 - $57,000 2.7

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
12.356204379562 5.2536231884058

Number Of Homes And Apartments:
3,891

Summerfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
40.28% 1.66%
4
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,119 / per month

Homeownership Rate

Homeownership
Owners 88.16
Renters 11.84
Vacant 1.77

Housing Market Details

 

Age of Homes

AGE OF Summerfield HOMES
2000 or Newer 37.0
1970 - 1999 49.2
1940 - 1969 11.1
1939 or Older 2.7

Types of Homes

TYPE OF Summerfield HOMES
Single-Family 93.0
Townhomes 0.5
Small Apt. Buildings 1.2
Apt. Complexes 1.1
Mobile Homes 4.2
Other 0.0

Home Size

SIZE OF Summerfield HOMES
No Bedroom 1.11
1 Bedroom 0.00
2 Bedrooms 8.38
3 Bedrooms 39.26
4 Bedrooms 39.06
5 or more bedrooms 12.19

Popular Neighborhoods in Summerfield

Zip Codes in Summerfield, NC