Weaverville, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Weaverville Neighborhoods Since 2000




Weaverville, 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

Weaverville Housing Market Information

With a population of 3,936, 1,557 total housing units (homes and apartments), and a median house value of $275,285, Weaverville real estate is some of the most expensive in North Carolina, although Weaverville home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Weaverville, accounting for 73.31% of the town's housing units. Other types of housing that are prevalent in Weaverville include row houses and other attached homes ( 14.47%), duplexes, homes converted to apartments or other small apartment buildings ( 8.90%), and a few large apartment complexes or high rise apartments ( 2.47%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Weaverville. Owner-occupied housing accounts for 80.06% of Weaverville's homes, and 63.15% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Weaverville 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 Weaverville built between 2000 and later ( 25.43%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.57%). There's also some housing in Weaverville built before 1939 ( 6.43%).

Vacant housing appears to be an issue in Weaverville. Fully 10.62% of the housing stock is classified as vacant. Left unchecked, vacant Weaverville homes and apartments can be a drag on the real estate market, holding Weaverville 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.

Weaverville Home Appreciation Rates

Appreciation rates for homes in Weaverville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 7.41%, which ranks in the top 40% nationwide. This equates to an annual average Weaverville house appreciation rate of 0.72%.

Appreciation rates are so strong in Weaverville that despite a nationwide downturn in the housing market, Weaverville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Weaverville appreciation rates continue to be some of the highest in America, at 6.68%, which is higher than appreciation rates in 79.12% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Weaverville. Weaverville appreciation rates in the latest quarter were at 1.50%, which equates to an annual appreciation rate of 6.15%.

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

Average Home Values

 

Median Home Value:
$275,285

Weaverville, NC HOME PRICES

Value Range
> $1,185,000 1.6
$889,001 - $1,185,000 0.6
$593,001 - $889,000 4.3
$474,001 - $593,000 7.1
$355,001 - $474,000 18.4
$237,001 - $355,000 28.5
$118,001 - $237,000 26.5
$59,001 - $118,000 3.6
$0 - $59,000 9.2

Very High for NC
Very High for Nation

Value Relative to Nation Value Relative to State
18.996835813899 10.1633393829401

Number Of Homes And Apartments:
1,557

Weaverville 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
64.39% 2.92% 10 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$901 / per month

Homeownership Rate

Homeownership
Owners 80.06
Renters 19.94
Vacant 10.62

Housing Market Details

 

Age of Homes

AGE OF Weaverville HOMES
2000 or Newer 25.4
1970 - 1999 50.6
1940 - 1969 17.6
1939 or Older 6.4

Types of Homes

TYPE OF Weaverville HOMES
Single-Family 73.3
Townhomes 14.5
Small Apt. Buildings 8.9
Apt. Complexes 2.5
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Weaverville HOMES
No Bedroom 3.44
1 Bedroom 4.65
2 Bedrooms 25.03
3 Bedrooms 42.02
4 Bedrooms 21.13
5 or more bedrooms 3.73