Summerfield, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



Map Loading GIF Please wait, loading your map...

Highest
Lowest




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 Q1 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

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

Summerfield Housing Market Information

With 11,198 people, 3,840 houses or apartments, and a median cost of homes of $380,639, 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 89.11% of Summerfield's homes, and 75.51% 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 ( 37.78%). A lesser amount of the housing stock also hails from between 1940-1969 ( 9.20%). There's also some housing in Summerfield built before 1939 ( 2.79%).

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 1.11% during the period.

Over the last year, Summerfield appreciation rates have trailed the rest of the nation. In the last twelve months, Summerfield's appreciation rate has been 2.95%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Summerfield were at 1.71%, which equates to an annual appreciation rate of 7.02%.

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:
$380,639

Summerfield, NC HOME PRICES

Value Range
> $1,113,000 2.1
$834,001 - $1,113,000 3.0
$557,001 - $834,000 15.7
$445,001 - $557,000 16.4
$334,001 - $445,000 25.2
$222,001 - $334,000 18.4
$111,001 - $222,000 14.0
$56,001 - $111,000 3.0
$0 - $56,000 2.3

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
12.3270072992701 4.89130434782609

Number Of Homes And Apartments:
3,840

Summerfield Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2018 Q4 - 2019 Q1
Last 12 Months:
2018 Q1 - 2019 Q1
Last 2 Years:
2017 Q1 - 2019 Q1
Last 5 Years:
2014 Q1 - 2019 Q1
Last 10 Years:
2009 Q1 - 2019 Q1
Since 2000:
2000 Q1 - 2019 Q1
32.53% 1.47%
4
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,014 / per month

Homeownership Rate

Homeownership
Owners 89.11
Renters 10.89
Vacant 1.64

Housing Market Details

 

Age of Homes

AGE OF Summerfield HOMES
2000 or Newer 37.8
1970 - 1999 50.2
1940 - 1969 9.2
1939 or Older 2.8

Types of Homes

TYPE OF Summerfield HOMES
Single-Family 94.4
Townhomes 0.0
Small Apt. Buildings 1.2
Apt. Complexes 1.0
Mobile Homes 3.5
Other 0.0

Home Size

SIZE OF Summerfield HOMES
No Bedroom 1.02
1 Bedroom 0.00
2 Bedrooms 9.17
3 Bedrooms 34.22
4 Bedrooms 41.29
5 or more bedrooms 14.29

Popular Neighborhoods in Summerfield

Zip Codes in Summerfield, NC