Morrison appreciation rates and housing market information

Morrison housing market information

With 451 people, 155 houses or apartments, and a median cost of homes of $425,300, Morrison house prices are not only among the most expensive in Colorado, Morrison real estate also is some of the most expensive in all of America.

single-family detached homes are the single most common housing type in Morrison, accounting for 76.77% of the town's housing units. Other types of housing that are prevalent in Morrison include duplexes, homes converted to apartments, or other small apartment buildings (20.00%), and a few row houses and other attached homes (3.23%).

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

The housing in Morrison was primarily built before 1939 (43.23%), making the housing stock in Morrison some of the older overall in America, although there is a range of ages of homes in Morrison. The next most important Morrison housing age is 1940-1969 (30.32%), followed by 1970-1994 (26.45%).

Vacant housing appears to be an issue in Morrison. Fully 10.33% of the housing stock is classified as vacant. Left unchecked, vacant Morrison homes and apartments can be a drag on the real estate market, holding Morrison 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.

Morrison home appreciation rates

In the last 10 years, Morrison has experienced some of the highest home appreciation rates of any community in the nation. Morrison real estate appreciated 154.67% over the last ten years, which is an average annual home appreciation rate of 15.46%, putting Morrison in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Morrison 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 Morrison that despite a nationwide downturn in the housing market, Morrison real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Morrison appreciation rates continue to be some of the highest in America, at 9.32%, which is higher than appreciation rates in 97% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Morrison. Morrison appreciation rates in the latest quarter were at 2.01%, which equates to an annual appreciation rate of 8.04%.

Importantly, this makes Morrison one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

Relative to Colorado, our data show that Morrison's latest annual appreciation rate is higher than 83% of the other cities and towns in Colorado.