Woodfin, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Woodfin Neighborhoods Since 2000




Woodfin, NC Real Estate Data


Woodfin Housing Market Information

With 6,349 people, 2,414 houses or apartments, and a median cost of homes of $243,587, Woodfin real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Woodfin, accounting for 54.55% of the town's housing units. Other types of housing that are prevalent in Woodfin include mobile homes or trailers ( 21.78%), large apartment complexes or high rise apartments ( 11.85%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.64%).

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

There is a lot of housing in Woodfin 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 Woodfin built between 1940-1969 ( 26.10%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.71%). There's also some housing in Woodfin built before 1939 ( 13.17%).

Vacant housing appears to be an issue in Woodfin. Fully 13.82% of the housing stock is classified as vacant. Left unchecked, vacant Woodfin homes and apartments can be a drag on the real estate market, holding Woodfin 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.

Woodfin Home Appreciation Rates

Appreciation rates for homes in Woodfin have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.21%, which ranks in the top 30% nationwide. This equates to an annual average Woodfin house appreciation rate of 1.16%.

NeighborhoodScout's data show that during the latest twelve months, Woodfin's appreciation rate, at 5.11%, has been at or slightly above the national average. In the latest quarter, Woodfin's appreciation rate has been 3.54%, which annualizes to a rate of 14.92%.

Importantly, this makes Woodfin 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 Woodfin's latest annual appreciation rate is higher than 60% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$243,587

Woodfin, NC HOME PRICES

Value Range
> $1,213,000 1.9
$909,001 - $1,213,000 1.2
$606,001 - $909,000 4.3
$485,001 - $606,000 4.2
$364,001 - $485,000 10.9
$243,001 - $364,000 22.5
$122,001 - $243,000 34.8
$61,001 - $122,000 10.6
$0 - $61,000 9.6

Very High for NC
High for Nation

Value Relative to Nation Value Relative to State
24.1318732798501 15.426497277677

Number Of Homes And Apartments:
2,414

Rent & Ownership

 

Average Market Rent:
$1,134 / per month

Homeownership Rate

Homeownership
Owners 43.48
Renters 56.52
Vacant 13.82

Housing Market Details

 

Age of Homes

AGE OF Woodfin HOMES
2000 or Newer 17.7
1970 - 1999 43.0
1940 - 1969 26.1
1939 or Older 13.2

Types of Homes

TYPE OF Woodfin HOMES
Single-Family 54.6
Townhomes 3.2
Small Apt. Buildings 8.6
Apt. Complexes 11.9
Mobile Homes 21.8
Other 0.0

Home Size

SIZE OF Woodfin HOMES
No Bedroom 0.00
1 Bedroom 12.00
2 Bedrooms 47.34
3 Bedrooms 31.31
4 Bedrooms 7.32
5 or more bedrooms 2.03

Woodfin 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
79.52% 3.50% 10 9
* 10 is highest