Sylva, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Sylva Neighborhoods Since 2000




Sylva, 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 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

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

Sylva Housing Market Information

With 2,617 people, 1,039 houses or apartments, and a median cost of homes of $167,876, Sylva 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 Sylva, accounting for 59.80% of the town's housing units. Other types of housing that are prevalent in Sylva include mobile homes or trailers ( 21.48%), duplexes, homes converted to apartments or other small apartment buildings ( 8.81%), and a few large apartment complexes or high rise apartments ( 6.22%).

People in Sylva primarily live in small (one, two or no bedroom) single-family detached homes. Sylva has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Sylva 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 Sylva built between 1940-1969 ( 35.41%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.98%). There's also some housing in Sylva built before 1939 ( 12.35%).

Vacant housing appears to be an issue in Sylva. Fully 18.25% of the housing stock is classified as vacant. Left unchecked, vacant Sylva homes and apartments can be a drag on the real estate market, holding Sylva 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.

Sylva Home Appreciation Rates

Sylva's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Sylva during the period has been just -1.22%, which is lower than 70% of US communities.

Over the last year, Sylva appreciation rates have trailed the rest of the nation. In the last twelve months, Sylva's appreciation rate has been 0.04%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sylva were at -0.54%, which equates to an annual appreciation rate of -2.13%.

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

Relative to North Carolina, our data show that Sylva's latest annual appreciation rate is lower than 80% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$167,876

Sylva, NC HOME PRICES

Value Range
> $1,006,000 1.7
$754,001 - $1,006,000 2.0
$503,001 - $754,000 3.3
$403,001 - $503,000 5.6
$302,001 - $403,000 6.3
$201,001 - $302,000 21.0
$100,001 - $201,000 42.0
$50,001 - $100,000 10.2
$0 - $50,000 8.0

High for NC
Average for Nation

Value Relative to Nation Value Relative to State
42.4645493964608 35.934664246824

Number Of Homes And Apartments:
1,039

Sylva Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NC*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
25.57% 1.33% 5 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$828 / per month

Homeownership Rate

Homeownership
Owners 44.51
Renters 55.49
Vacant 18.25

Housing Market Details

 

Age of Homes

AGE OF Sylva HOMES
2000 or Newer 13.0
1970 - 1999 39.3
1940 - 1969 35.4
1939 or Older 12.4

Types of Homes

TYPE OF Sylva HOMES
Single-Family 59.8
Townhomes 3.7
Small Apt. Buildings 8.8
Apt. Complexes 6.2
Mobile Homes 21.5
Other 0.0

Home Size

SIZE OF Sylva HOMES
No Bedroom 1.34
1 Bedroom 8.65
2 Bedrooms 40.91
3 Bedrooms 34.07
4 Bedrooms 14.16
5 or more bedrooms 0.87