Chewelah appreciation rates and housing market information
Chewelah housing market information
With a population of 2,632, 1,150 total housing units (homes and apartments), and a median house value of $126,269, Chewelah real estate values are some of the lowest in Washington, although compared to real estate around the nation, Chewelah homes are still considered rather expensive.
Single-family detached homes are the single most common housing type in Chewelah, accounting for 66.59% of the city's housing units. Other types of housing that are prevalent in Chewelah include mobile homes or trailers (14.82%), large apartment complexes or high rise apartments (12.58%), and a few duplexes, homes converted to apartments or other small apartment buildings (4.86%).
The most prevalent building size and type in Chewelah are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 59.90% owning and 40.10% renting.
There is a lot of housing in Chewelah built from 1970 to 1999 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 Chewelah built before 1939 (25.54%). A lesser amount of the housing stock also hails from between 1940-1969 (14.74%). There's also some housing in Chewelah built between 2000 and later (7.56%).
Vacant housing appears to be an issue in Chewelah. Fully 14.04% of the housing stock is classified as vacant. Left unchecked, vacant Chewelah homes and apartments can be a drag on the real estate market, holding Chewelah 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.
Chewelah home appreciation rates
Appreciation rates for homes in Chewelah have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 30.35%, which ranks in the top 30% nationwide. This equates to an annual average Chewelah house appreciation rate of 2.69%.
NeighborhoodScout's data show that during the latest twelve months, Chewelah's appreciation rate, at 1.75%, has been at or slightly above the national average. In the latest quarter, Chewelah's appreciation rate has been -0.91%, which annualizes to a rate of -3.60%.
Notably, Chewelah's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Washington, our data show that Chewelah's latest annual appreciation rate is lower than 70% of the other cities and towns in Washington.