Walnut Cove, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Walnut Cove, NC Real Estate Data


Walnut Cove Housing Market Information

With a population of 1,402, 629 total housing units (homes and apartments), and a median house value of $112,723, house prices in Walnut Cove are solidly below the national average.

Single-family detached homes are the single most common housing type in Walnut Cove, accounting for 63.88% of the town's housing units. Other types of housing that are prevalent in Walnut Cove include large apartment complexes or high rise apartments ( 16.71%), duplexes, homes converted to apartments or other small apartment buildings ( 9.16%), and a few mobile homes or trailers ( 5.39%).

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

There is a lot of housing in Walnut Cove 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 Walnut Cove built between 1940-1969 ( 24.39%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.85%). There's also some housing in Walnut Cove built before 1939 ( 11.73%).

Vacant housing appears to be an issue in Walnut Cove. Fully 15.23% of the housing stock is classified as vacant. Left unchecked, vacant Walnut Cove homes and apartments can be a drag on the real estate market, holding Walnut Cove 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.

Walnut Cove Home Appreciation Rates

Walnut Cove's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Walnut Cove during the period has been just -1.08%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Walnut Cove's appreciation rate, at 4.75%, has been at or slightly above the national average. In the latest quarter, Walnut Cove's appreciation rate has been 1.65%, which annualizes to a rate of 6.77%.

Relative to North Carolina, our data show that Walnut Cove's latest annual appreciation rate is higher than 50% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$112,723

Walnut Cove, NC HOME PRICES

Value Range
> $1,040,000 0.0
$780,001 - $1,040,000 0.0
$520,001 - $780,000 0.0
$416,001 - $520,000 0.0
$312,001 - $416,000 3.5
$208,001 - $312,000 5.7
$104,001 - $208,000 41.7
$52,001 - $104,000 34.7
$0 - $52,000 14.4

Low for NC
Low for Nation

Value Relative to Nation Value Relative to State
70.6359430813375 70.05444646098

Number Of Homes And Apartments:
629

Rent & Ownership

 

Average Market Rent:
$643 / per month

Homeownership Rate

Homeownership
Owners 47.52
Renters 52.48
Vacant 15.23

Housing Market Details

 

Age of Homes

AGE OF Walnut Cove HOMES
2000 or Newer 16.8
1970 - 1999 47.0
1940 - 1969 24.4
1939 or Older 11.7

Types of Homes

TYPE OF Walnut Cove HOMES
Single-Family 63.9
Townhomes 4.9
Small Apt. Buildings 9.2
Apt. Complexes 16.7
Mobile Homes 5.4
Other 0.0

Home Size

SIZE OF Walnut Cove HOMES
No Bedroom 1.21
1 Bedroom 8.49
2 Bedrooms 41.11
3 Bedrooms 40.70
4 Bedrooms 7.68
5 or more bedrooms 0.81

Walnut Cove 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
5.17% 0.30% 1 1
* 10 is highest

Popular Neighborhoods in Walnut Cove

Zip Codes in Walnut Cove, NC