Gravette appreciation rates and housing market information

Gravette housing market information

With 5,045 people, 4,162 houses or apartments, and a median cost of homes of $142,289, Gravette real estate is some of the most expensive in Arkansas, although Gravette home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Gravette, accounting for 76.38% of the town's housing units. Other types of housing that are prevalent in Gravette include mobile homes or trailers (17.80%), duplexes, homes converted to apartments, or other small apartment buildings (3.00%), row houses and other attached homes (1.54%), and a few large apartment complexes or high rise apartments (1.11%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Gravette. Owner-occupied housing accounts for 68.02% of Gravette's homes, and 59.13% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Gravette built from 1970-1994, 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 Gravette built from 1940-1969 (22.85%). A lesser amount of the housing stock also hails from 1995 and later (18.60%), and some were built from 1939 and earlier (18.60%).

Vacant housing appears to be an issue in Gravette. Fully 10.67% of the housing stock is classified as vacant. Left unchecked, vacant Gravette homes and apartments can be a drag on the real estate market, holding Gravette 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.

Gravette home appreciation rates

In the last 10 years, Gravette has experienced some of the highest home appreciation rates of any community in the nation. Gravette real estate appreciated 113.32% over the last ten years, which is an average annual home appreciation rate of 11.33%, putting Gravette in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Gravette definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Gravette that despite a nationwide downturn in the housing market, Gravette real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gravette appreciation rates continue to be some of the highest in America, at 3.08%, which is higher than appreciation rates in 76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gravette. Gravette appreciation rates in the latest quarter were at 1.29%, which equates to an annual appreciation rate of 5.16%.

Relative to Arkansas, our data show that Gravette's latest annual appreciation rate is higher than 70% of the other cities and towns in Arkansas.