Home Values

Wallace Home Prices & Values

Zillow Home Value Index

The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

$97,900

  • -3.5% 1-year change
  • None 1-year forecast

The median home value in Wallace is $97,900. Wallace home values have declined -3.5% over the past year. The median list price per square foot in Wallace is $100, which is lower than the Wilmington Metro average of $130. The median price of homes currently listed in Wallace is $160,000 while the median price of homes that sold is $53,000.

Foreclosures will be a factor impacting home values in the next several years. In Wallace 5.3 homes are foreclosed (per 10,000). This is greater than the national value of 4.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Wallace is 4.3%, which is lower than the national value of 6.4%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Wallace homeowners underwater on their mortgage is 17.2%.

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Relative ZHVI
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Wallace Market Overview

Data through Nov 30, 2014
  • $97,900 ZHVI
  • No data 1-yr forecast
  • $160,000 Median listing price
  • No recent data Median sale price
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Wallace Market Health

Data through Nov 30, 2014
  • 2.0/10 Less healthy
    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.
  • No data Average days on Zillow
  • 17.2% Homes with negative equity (16.9% US Avg) (Sep 30, 2014)
  • 4.3% Delinquent on mortgage (6.4% US Avg) (Sep 30, 2014)

Homes foreclosed (per 10,000)

5.3 homes Wallace
4.2 homes United States
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Nearby Cities

Name Median ZHVI
Rocky Point $153,200
Maple Hill $123,700
Richlands $122,600
Name Median ZHVI
Chinquapin $93,800
Beulaville $91,300
Magnolia $84,500
Name Median ZHVI
Kenansville $76,900
Warsaw $63,900
 

Listings & Sales

Data through Nov 30, 2014
  • $100 Median list price / sq ft
  • No recent data Median sale price / sq ft
  • No data Listings with price cut
18.2%
Sold below listing
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Wallace Rentals

Data through Nov 30, 2014
  • Zillow Rent Index

  • $866 Wallace
    $1,231 Wilmington Metro
    $1,342 United States

    The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more

  • 1.9 Breakeven horizon
    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more
    (Jun 30, 2014)
  • No data Rent list price
  • No data Rent list price / sq ft
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