Chelsea, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Chelsea, AL Real Estate Data


Chelsea Housing Market Information

With a population of 12,059, 3,696 total housing units (homes and apartments), and a median house value of $228,750, Chelsea real estate is some of the most expensive in Alabama, although Chelsea home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Chelsea, accounting for 90.49% of the city's housing units. Other types of housing that are prevalent in Chelsea include mobile homes or trailers ( 6.52%), row houses and other attached homes ( 1.40%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.27%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Chelsea. Owner-occupied housing accounts for 87.95% of Chelsea's homes, and 82.88% have either three or four bedrooms, which is average sized relative to America.

Chelsea homes and real estate are some of the newest in America. 67.64% of Chelsea's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Chelsea real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 28.09%), and between 1940-1969 ( 4.27%).

Chelsea Home Appreciation Rates

Real estate appreciation rates in Chelsea's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.54% during the period.

Over the last year, Chelsea appreciation rates have trailed the rest of the nation. In the last twelve months, Chelsea's appreciation rate has been 3.59%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Chelsea were at 2.45%, which equates to an annual appreciation rate of 10.16%.

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

Average Home Values

 

Median Home Value:
$228,750

Chelsea, AL HOME PRICES

Value Range
> $1,101,000 2.1
$826,001 - $1,101,000 1.1
$550,001 - $826,000 4.0
$440,001 - $550,000 3.3
$330,001 - $440,000 10.6
$220,001 - $330,000 29.4
$110,001 - $220,000 34.6
$55,001 - $110,000 6.7
$0 - $55,000 8.3

Very High for AL
High for Nation

Value Relative to Nation Value Relative to State
26.7728523745389 3.75

Number Of Homes And Apartments:
3,696

Rent & Ownership

 

Average Market Rent:
$1,436 / per month

Homeownership Rate

Homeownership
Owners 87.95
Renters 12.05
Vacant 2.04

Housing Market Details

 

Age of Homes

AGE OF Chelsea HOMES
2000 or Newer 67.6
1970 - 1999 28.1
1940 - 1969 4.3
1939 or Older 0.0

Types of Homes

TYPE OF Chelsea HOMES
Single-Family 90.5
Townhomes 1.4
Small Apt. Buildings 1.3
Apt. Complexes 0.3
Mobile Homes 6.5
Other 0.0

Home Size

SIZE OF Chelsea HOMES
No Bedroom 0.00
1 Bedroom 0.00
2 Bedrooms 9.75
3 Bedrooms 57.01
4 Bedrooms 25.87
5 or more bedrooms 7.37

Chelsea 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
16.09% 0.88% 2 2
* 10 is highest