Centre, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Centre, AL Real Estate Data


Centre Housing Market Information

With 3,570 people, 1,639 houses or apartments, and a median cost of homes of $125,055, house prices in Centre are solidly below the national average.

Single-family detached homes are the single most common housing type in Centre, accounting for 73.11% of the city's housing units. Other types of housing that are prevalent in Centre include duplexes, homes converted to apartments or other small apartment buildings ( 11.36%), large apartment complexes or high rise apartments ( 7.87%), and a few mobile homes or trailers ( 6.98%).

The most prevalent building size and type in Centre are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.58% owning and 42.42% renting.

There is a lot of housing in Centre 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 Centre built between 1940-1969 ( 29.55%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.65%). There's also some housing in Centre built before 1939 ( 13.34%).

Vacant housing appears to be an issue in Centre. Fully 14.59% of the housing stock is classified as vacant. Left unchecked, vacant Centre homes and apartments can be a drag on the real estate market, holding Centre 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.

Centre Home Appreciation Rates

Real estate appreciation rates in Centre's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.07% during the period.

NeighborhoodScout's data show that during the latest twelve months, Centre's appreciation rate, at 4.92%, has been at or slightly above the national average. In the latest quarter, Centre's appreciation rate has been 1.31%, which annualizes to a rate of 5.35%.

Relative to Alabama, our data show that Centre's latest annual appreciation rate is higher than 80% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$125,055

Centre, AL HOME PRICES

Value Range
> $1,049,000 0.0
$787,001 - $1,049,000 0.5
$525,001 - $787,000 3.1
$420,001 - $525,000 4.3
$315,001 - $420,000 4.5
$210,001 - $315,000 13.8
$105,001 - $210,000 27.1
$52,001 - $105,000 31.9
$0 - $52,000 14.9

High for AL
Low for Nation

Value Relative to Nation Value Relative to State
63.6235872811384 32.75

Number Of Homes And Apartments:
1,639

Rent & Ownership

 

Average Market Rent:
$1,001 / per month

Homeownership Rate

Homeownership
Owners 57.58
Renters 42.42
Vacant 14.59

Housing Market Details

 

Age of Homes

AGE OF Centre HOMES
2000 or Newer 13.7
1970 - 1999 43.5
1940 - 1969 29.5
1939 or Older 13.3

Types of Homes

TYPE OF Centre HOMES
Single-Family 73.1
Townhomes 0.7
Small Apt. Buildings 11.4
Apt. Complexes 7.9
Mobile Homes 7.0
Other 0.0

Home Size

SIZE OF Centre HOMES
No Bedroom 1.04
1 Bedroom 8.86
2 Bedrooms 29.13
3 Bedrooms 43.15
4 Bedrooms 16.57
5 or more bedrooms 1.25

Centre Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
31.41% 1.62% 6 3
* 10 is highest

Popular Neighborhoods in Centre

Zip Codes in Centre, AL