Surf City, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Surf City, NC Real Estate Data


Surf City Housing Market Information

With 2,193 people, 1,175 houses or apartments, and a median cost of homes of $346,235, Surf City house prices are not only among the most expensive in North Carolina, Surf City real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Surf City, accounting for 63.40% of the town's housing units. Other types of housing that are prevalent in Surf City include mobile homes or trailers ( 12.81%), large apartment complexes or high rise apartments ( 9.12%), and a few row houses and other attached homes ( 7.46%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Surf City. Owner-occupied housing accounts for 66.13% of Surf City's homes, and 68.54% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Surf City 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 Surf City built between 2000 and later ( 39.09%). A lesser amount of the housing stock also hails from between 1940-1969 ( 13.30%).

A decent proportion of the Surf City housing stock is seasonally occupied. That is, homes and condos in Surf City are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Surf City housing market speaks to its popularity as a vacation location of choice.

Surf City Home Appreciation Rates

Appreciation rates for homes in Surf City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.22%, which ranks in the top 30% nationwide. This equates to an annual average Surf City house appreciation rate of 1.25%.

Appreciation rates are so strong in Surf City that despite a nationwide downturn in the housing market, Surf City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Surf City appreciation rates continue to be some of the highest in America, at 7.62%, which is higher than appreciation rates in 89.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Surf City. Surf City appreciation rates in the latest quarter were at 0.45%, which equates to an annual appreciation rate of 1.83%.

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

Relative to North Carolina, our data show that Surf City's latest annual appreciation rate is higher than 90% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$346,235

Surf City, NC HOME PRICES

Value Range
> $1,158,000 0.3
$869,001 - $1,158,000 2.0
$579,001 - $869,000 13.1
$463,001 - $579,000 14.0
$348,001 - $463,000 21.2
$232,001 - $348,000 24.0
$116,001 - $232,000 16.6
$58,001 - $116,000 4.5
$0 - $58,000 4.5

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
12.8535457047491 4.90018148820327

Number Of Homes And Apartments:
1,175

Rent & Ownership

 

Average Market Rent:
$1,462 / per month

Homeownership Rate

Homeownership
Owners 66.13
Renters 33.87
Vacant 65.87

Housing Market Details

 

Age of Homes

AGE OF Surf City HOMES
2000 or Newer 39.1
1970 - 1999 47.5
1940 - 1969 13.3
1939 or Older 0.1

Types of Homes

TYPE OF Surf City HOMES
Single-Family 63.4
Townhomes 7.5
Small Apt. Buildings 7.2
Apt. Complexes 9.1
Mobile Homes 12.8
Other 0.0

Home Size

SIZE OF Surf City HOMES
No Bedroom 2.96
1 Bedroom 2.79
2 Bedrooms 18.24
3 Bedrooms 47.40
4 Bedrooms 21.14
5 or more bedrooms 7.46

Surf City 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
81.76% 3.58% 10 9
* 10 is highest

Popular Neighborhoods in Surf City

Zip Codes in Surf City, NC