Summerton, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Summerton, SC Real Estate Data


Summerton Housing Market Information

With a population of 965, 536 total housing units (homes and apartments), and a median house value of $84,516, house prices in Summerton are solidly below the national average.

Single-family detached homes are the single most common housing type in Summerton, accounting for 63.91% of the town's housing units. Other types of housing that are prevalent in Summerton include large apartment complexes or high rise apartments ( 13.41%), mobile homes or trailers ( 12.91%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 9.77%).

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

There is a lot of housing in Summerton 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 Summerton built between 1940-1969 ( 29.47%). A lesser amount of the housing stock also hails from before 1939 ( 23.01%). There's also some housing in Summerton built between 2000 and later ( 5.96%).

Vacant housing appears to be an issue in Summerton. Fully 11.26% of the housing stock is classified as vacant. Left unchecked, vacant Summerton homes and apartments can be a drag on the real estate market, holding Summerton 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.

Summerton Home Appreciation Rates

Appreciation rates for homes in Summerton have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 4.63%, which ranks in the top 50% nationwide. This equates to an annual average Summerton house appreciation rate of 0.45%.

NeighborhoodScout's data show that during the latest twelve months, Summerton's appreciation rate, at 5.24%, has been at or slightly above the national average. In the latest quarter, Summerton's appreciation rate has been -0.50%, which annualizes to a rate of -1.99%.

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

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

Average Home Values

 

Median Home Value:
$84,516

Summerton, SC HOME PRICES

Value Range
> $1,075,000 0.0
$807,001 - $1,075,000 1.2
$538,001 - $807,000 1.0
$430,001 - $538,000 0.0
$322,001 - $430,000 2.4
$215,001 - $322,000 4.5
$108,001 - $215,000 27.5
$53,001 - $108,000 32.3
$0 - $53,000 31.1

Low for SC
Very Low for Nation

Value Relative to Nation Value Relative to State
87.519043712645 72.1189591078067

Number Of Homes And Apartments:
536

Rent & Ownership

 

Average Market Rent:
$520 / per month

Homeownership Rate

Homeownership
Owners 43.28
Renters 56.72
Vacant 11.26

Housing Market Details

 

Age of Homes

AGE OF Summerton HOMES
2000 or Newer 6.0
1970 - 1999 41.6
1940 - 1969 29.5
1939 or Older 23.0

Types of Homes

TYPE OF Summerton HOMES
Single-Family 63.9
Townhomes 0.0
Small Apt. Buildings 9.8
Apt. Complexes 13.4
Mobile Homes 12.9
Other 0.0

Home Size

SIZE OF Summerton HOMES
No Bedroom 0.83
1 Bedroom 11.59
2 Bedrooms 39.40
3 Bedrooms 34.11
4 Bedrooms 9.60
5 or more bedrooms 4.47

Summerton Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
29.68% 1.52% 5 3
* 10 is highest

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Zip Codes in Summerton, SC