Old Westbury appreciation rates and housing market information

Old Westbury housing market information

With 4,242 people, 1,073 houses or apartments, and a median cost of homes of $2,567,878, Old Westbury house prices are not only among the most expensive in New York, Old Westbury real estate also is some of the most expensive in all of America.

Old Westbury is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Old Westbury than is found in 99.88% of the communities in America.

And, as is not surprising, these large homes are primarily owner-occupied (87.88%).

There is a lot of housing in Old Westbury 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 Old Westbury built from 1940-1969 (34.67%). A lesser amount of the housing stock also hails from 1939 and earlier (20.69%), and some were built from 1995 and later (20.69%).

Old Westbury home appreciation rates

In the last 10 years, Old Westbury has experienced some of the highest home appreciation rates of any community in the nation. Old Westbury real estate appreciated 205.52% over the last ten years, which is an average annual home appreciation rate of 20.55%, putting Old Westbury in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Old Westbury definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Old Westbury home appreciation rates, at 1.21%, have been at or slightly above the national average. In the latest quarter, Old Westbury's appreciation rate has been 2.03%, which annualizes to a rate of 8.12%.

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

Relative to New York, our data show that Old Westbury's latest annual appreciation rate is higher than 52% of the other cities and towns in New York.