Goodwater, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Goodwater, AL Real Estate Data


Goodwater Housing Market Information

With 1,343 people, 629 houses or apartments, and a median cost of homes of $82,246, house prices in Goodwater are solidly below the national average.

Single-family detached homes are the single most common housing type in Goodwater, accounting for 59.34% of the town's housing units. Other types of housing that are prevalent in Goodwater include mobile homes or trailers ( 22.74%), duplexes, homes converted to apartments or other small apartment buildings ( 9.40%), and a few large apartment complexes or high rise apartments ( 8.51%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Goodwater. Owner-occupied housing accounts for 66.64% of Goodwater's homes, and 56.93% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Goodwater 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 Goodwater built between 1940-1969 ( 34.82%). A lesser amount of the housing stock also hails from between 2000 and later ( 10.29%). There's also some housing in Goodwater built before 1939 ( 4.96%).

Vacant housing appears to be an issue in Goodwater. Fully 20.08% of the housing stock is classified as vacant. Left unchecked, vacant Goodwater homes and apartments can be a drag on the real estate market, holding Goodwater 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.

Goodwater Home Appreciation Rates

Appreciation rates for homes in Goodwater have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 14.98%, which ranks in the top 30% nationwide. This equates to an annual average Goodwater house appreciation rate of 1.41%.

NeighborhoodScout's data show that during the latest twelve months, Goodwater's appreciation rate, at 4.71%, has been at or slightly above the national average. In the latest quarter, Goodwater's appreciation rate has been 0.17%, which annualizes to a rate of 0.67%.

Relative to Alabama, our data show that Goodwater's latest annual appreciation rate is higher than 70% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$82,246

Goodwater, AL HOME PRICES

Value Range
> $1,066,000 0.0
$800,001 - $1,066,000 0.0
$533,001 - $800,000 0.6
$426,001 - $533,000 0.0
$320,001 - $426,000 3.2
$213,001 - $320,000 2.2
$107,001 - $213,000 27.9
$53,001 - $107,000 34.0
$0 - $53,000 32.0

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
88.8257353802883 73.0

Number Of Homes And Apartments:
629

Rent & Ownership

 

Average Market Rent:
$788 / per month

Homeownership Rate

Homeownership
Owners 66.64
Renters 33.36
Vacant 20.08

Housing Market Details

 

Age of Homes

AGE OF Goodwater HOMES
2000 or Newer 10.3
1970 - 1999 49.9
1940 - 1969 34.8
1939 or Older 5.0

Types of Homes

TYPE OF Goodwater HOMES
Single-Family 59.3
Townhomes 0.0
Small Apt. Buildings 9.4
Apt. Complexes 8.5
Mobile Homes 22.7
Other 0.0

Home Size

SIZE OF Goodwater HOMES
No Bedroom 0.00
1 Bedroom 11.94
2 Bedrooms 28.84
3 Bedrooms 45.11
4 Bedrooms 11.82
5 or more bedrooms 2.29

Goodwater 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
48.55% 2.32% 9 6
* 10 is highest

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