Center Point, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Center Point, AL Real Estate Data


Center Point Housing Market Information

With 16,655 people, 6,340 houses or apartments, and a median cost of homes of $110,807, house prices in Center Point are solidly below the national average.

Single-family detached homes are the single most common housing type in Center Point, accounting for 71.97% of the city's housing units. Other types of housing that are prevalent in Center Point include large apartment complexes or high rise apartments ( 17.15%), duplexes, homes converted to apartments or other small apartment buildings ( 7.98%), and a few row houses and other attached homes ( 2.04%).

The most prevalent building size and type in Center Point are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.05% owning and 41.95% renting.

There is a lot of housing in Center Point 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 Center Point built between 1940-1969 ( 44.25%). A lesser amount of the housing stock also hails from between 2000 and later ( 8.48%).

Vacant housing appears to be an issue in Center Point. Fully 15.97% of the housing stock is classified as vacant. Left unchecked, vacant Center Point homes and apartments can be a drag on the real estate market, holding Center Point 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.

Center Point Home Appreciation Rates

Homes have actually lost value in Center Point over the last then years, as home values have seen a decline of 20.66% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Center Point home appreciation rates at -0.93%, which equates to an annual appreciation rate of -3.68%.

Over the last year, Center Point appreciation rates have trailed the rest of the nation. In the last twelve months, Center Point's appreciation rate has been 1.28%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Center Point were at -0.93%, which equates to an annual appreciation rate of -3.68%.

Notably, Center Point's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Alabama, our data show that Center Point's latest annual appreciation rate is lower than 60% of the other cities and towns in Alabama.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Center Point differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Center Point - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Center Point real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$110,807

Center Point, AL HOME PRICES

Value Range
> $1,040,000 0.4
$780,001 - $1,040,000 0.0
$520,001 - $780,000 0.1
$416,001 - $520,000 0.0
$312,001 - $416,000 0.2
$208,001 - $312,000 1.5
$104,001 - $208,000 50.4
$52,001 - $104,000 40.5
$0 - $52,000 7.0

Average for AL
Low for Nation

Value Relative to Nation Value Relative to State
70.7898746044767 45.0

Number Of Homes And Apartments:
6,340

Rent & Ownership

 

Average Market Rent:
$1,069 / per month

Homeownership Rate

Homeownership
Owners 58.05
Renters 41.95
Vacant 15.97

Housing Market Details

 

Age of Homes

AGE OF Center Point HOMES
2000 or Newer 8.5
1970 - 1999 46.5
1940 - 1969 44.3
1939 or Older 0.8

Types of Homes

TYPE OF Center Point HOMES
Single-Family 72.0
Townhomes 2.0
Small Apt. Buildings 8.0
Apt. Complexes 17.2
Mobile Homes 0.9
Other 0.0

Home Size

SIZE OF Center Point HOMES
No Bedroom 0.00
1 Bedroom 3.70
2 Bedrooms 24.77
3 Bedrooms 57.38
4 Bedrooms 12.07
5 or more bedrooms 2.08

Center Point Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q3 - 2016 Q4
Last 12 Months:
2015 Q4 - 2016 Q4
Last 2 Years:
2014 Q4 - 2016 Q4
Last 5 Years:
2011 Q4 - 2016 Q4
Last 10 Years:
2006 Q4 - 2016 Q4
Since 2000:
2000 Q1 - 2016 Q4
0.93% 0.05% 1 1
* 10 is highest