Sykesville appreciation rates and housing market information

Sykesville housing market information

With 4,252 people, 1,419 houses or apartments, and a median cost of homes of $430,583, real estate costs in Sykesville are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Maryland communities.

single-family detached homes are the single most common housing type in Sykesville, accounting for 60.96% of the town's housing units. Other types of housing that are prevalent in Sykesville include large apartment complexes or high rise apartments (23.96%), row houses and other attached homes (11.91%), duplexes, homes converted to apartments, or other small apartment buildings (2.61%), and a few mobile homes or trailers (0.56%).

Owner-occupied, three and four bedroom single-family detached homes are the most prevalent type of housing you will see in Sykesville. Owner-occupied housing accounts for 65.68% of Sykesville's homes, and 63.57% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Sykesville 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 Sykesville built from 1940-1969 (24.31%). A lesser amount of the housing stock also hails from 1995 and later (21.85%), and some were built from 1939 and earlier (21.85%).

Sykesville home appreciation rates

In the last 10 years, Sykesville has experienced some of the highest home appreciation rates of any community in the nation. Sykesville real estate appreciated 165.45% over the last ten years, which is an average annual home appreciation rate of 16.54%, putting Sykesville in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Sykesville definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Sykesville appreciation rates have trailed the rest of the nation. In the last twelve months, Sykesville's appreciation rate has been -1.30%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Sykesville were at -0.16%, which equates to an annual appreciation rate of -0.64%.

Relative to Maryland, our data show that Sykesville's latest annual appreciation rate is higher than 94% of the other cities and towns in Maryland.