Wedowee appreciation rates and housing market information

Wedowee housing market information

With 816 people, 367 houses or apartments, and a median cost of homes of $130,500, house prices in Wedowee are solidly below the national average.

single-family detached homes are the single most common housing type in Wedowee, accounting for 72.75% of the town's housing units. Other types of housing that are prevalent in Wedowee include duplexes, homes converted to apartments, or other small apartment buildings (10.63%), large apartment complexes or high rise apartments (8.45%), mobile homes or trailers (7.08%), and a few row houses and other attached homes (1.09%).

The most prevalent building size and type in Wedowee are three and four bedroom single-family detached homes. The town has a mixture of owners and renters, with 59.40% owning, and 32.15% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Wedowee's housing was primarily built during this period, from the '40s through the '60s. A full 37.87% of the town's housing hails from this era. Other housing ages represented in Wedowee include homes built between 1970-1994 (33.79%), and housing constructed from 1939 and earlier (24.80%). There's also some housing in Wedowee built between 1995 and later (3.54%).

Wedowee home appreciation rates

Real estate appreciation rates in Wedowee have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 7.54% during the period.

Appreciation rates are so strong in Wedowee that despite a nationwide downturn in the housing market, Wedowee real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wedowee appreciation rates continue to be some of the highest in America, at 4.55%, which is higher than appreciation rates in 73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wedowee. Wedowee appreciation rates in the latest quarter were at 0.50%, which equates to an annual appreciation rate of 2.00%.

Relative to Alabama, our data show that Wedowee's latest annual appreciation rate is higher than 44% of the other cities and towns in Alabama.