Woodfin, NC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Woodfin Neighborhoods Since 2000




Woodfin, 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

Woodfin Housing Market Information

With a population of 6,349, 2,298 total housing units (homes and apartments), and a median house value of $217,486, 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 55.41% of the town's housing units. Other types of housing that are prevalent in Woodfin include mobile homes or trailers ( 19.67%), large apartment complexes or high rise apartments ( 13.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.73%).

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 ( 22.74%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.21%). There's also some housing in Woodfin built before 1939 ( 12.29%).

Vacant housing appears to be an issue in Woodfin. Fully 13.90% 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 13.96%, which ranks in the top 30% nationwide. This equates to an annual average Woodfin house appreciation rate of 1.31%.

Appreciation rates are so strong in Woodfin that despite a nationwide downturn in the housing market, Woodfin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Woodfin appreciation rates continue to be some of the highest in America, at 6.82%, which is higher than appreciation rates in 80.10% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Woodfin. Woodfin 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 Woodfin's latest annual appreciation rate is higher than 80% of the other cities and towns in North Carolina.

Average Home Values

 

Median Home Value:
$217,486

Woodfin, NC HOME PRICES

Value Range
> $1,206,000 1.7
$905,001 - $1,206,000 1.2
$603,001 - $905,000 4.3
$482,001 - $603,000 5.8
$362,001 - $482,000 10.3
$241,001 - $362,000 23.9
$121,001 - $241,000 34.7
$60,001 - $121,000 7.8
$0 - $60,000 10.4

High for NC
High for Nation

Value Relative to Nation Value Relative to State
28.1934841204735 20.6896551724138

Number Of Homes And Apartments:
2,298

Woodfin 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
87.47% 3.71% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,093 / per month

Homeownership Rate

Homeownership
Owners 40.88
Renters 59.12
Vacant 13.90

Housing Market Details

 

Age of Homes

AGE OF Woodfin HOMES
2000 or Newer 21.2
1970 - 1999 43.8
1940 - 1969 22.7
1939 or Older 12.3

Types of Homes

TYPE OF Woodfin HOMES
Single-Family 55.4
Townhomes 2.6
Small Apt. Buildings 8.7
Apt. Complexes 13.6
Mobile Homes 19.7
Other 0.0

Home Size

SIZE OF Woodfin HOMES
No Bedroom 1.54
1 Bedroom 10.00
2 Bedrooms 47.32
3 Bedrooms 29.60
4 Bedrooms 9.44
5 or more bedrooms 2.10