Hockessin appreciation rates and housing market information

Hockessin housing market information

With 12,896 people, 5,046 houses or apartments, and a median cost of homes of $504,500, Hockessin house prices are not only among the most expensive in Delaware, Hockessin 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 Hockessin, accounting for 87.18% of the town's housing units. Other types of housing that are prevalent in Hockessin include large apartment complexes or high rise apartments (7.21%), row houses and other attached homes (3.82%), duplexes, homes converted to apartments, or other small apartment buildings (0.91%), and a few mobile homes or trailers (0.87%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Hockessin. Owner-occupied housing accounts for 88.82% of Hockessin's homes, and 77.86% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Hockessin 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 Hockessin built from 1940-1969 (29.39%). A lesser amount of the housing stock also hails from 1995 and later (9.33%), and some were built from 1939 and earlier (9.33%).

Hockessin home appreciation rates

Appreciation rates for homes in Hockessin have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 93.06%, which ranks in the top 40% nationwide. This equates to an annual average Hockessin house appreciation rate of 9.30%.

Over the last year, Hockessin appreciation rates have trailed the rest of the nation. In the last twelve months, Hockessin's appreciation rate has been -2.60%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hockessin were at -1.59%, which equates to an annual appreciation rate of -6.36%.

Relative to Delaware, our data show that Hockessin's latest annual appreciation rate is higher than 4% of the other cities and towns in Delaware.