New Market, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating New Market Neighborhoods Since 2000




New Market, AL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

New Market Housing Market Information

With 1,659 people, 561 houses or apartments, and a median cost of homes of $169,259, New Market real estate is some of the most expensive in Alabama, although New Market home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in New Market, accounting for 67.36% of the town's housing units. Other types of housing that are prevalent in New Market include mobile homes or trailers ( 32.64%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Market. Owner-occupied housing accounts for 67.74% of New Market's homes, and 73.50% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in New Market 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 New Market built between 1940-1969 ( 19.19%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.75%). There's also some housing in New Market built before 1939 ( 1.96%).

Vacant housing appears to be an issue in New Market. Fully 26.76% of the housing stock is classified as vacant. Left unchecked, vacant New Market homes and apartments can be a drag on the real estate market, holding New Market 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.

New Market Home Appreciation Rates

Appreciation rates for homes in New Market have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 2.76%, which ranks in the top 50% nationwide. This equates to an annual average New Market house appreciation rate of 0.27%.

NeighborhoodScout's data show that during the latest twelve months, New Market's appreciation rate, at 4.44%, has been at or slightly above the national average. In the latest quarter, New Market's appreciation rate has been 1.95%, which annualizes to a rate of 8.03%.

Importantly, this makes New Market one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.

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

Average Home Values

 

Median Home Value:
$169,259

New Market, AL HOME PRICES

Value Range
> $1,059,000 0.0
$794,001 - $1,059,000 0.5
$529,001 - $794,000 2.4
$424,001 - $529,000 5.1
$318,001 - $424,000 10.5
$212,001 - $318,000 19.8
$106,001 - $212,000 32.8
$53,001 - $106,000 14.1
$0 - $53,000 14.8

Very High for AL
Average for Nation

Value Relative to Nation Value Relative to State
41.8961678190554 10.0

Number Of Homes And Apartments:
561

New Market Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
29.13% 1.49% 5 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$975 / per month

Homeownership Rate

Homeownership
Owners 67.74
Renters 32.26
Vacant 26.76

Housing Market Details

 

Age of Homes

AGE OF New Market HOMES
2000 or Newer 14.8
1970 - 1999 64.1
1940 - 1969 19.2
1939 or Older 2.0

Types of Homes

TYPE OF New Market HOMES
Single-Family 67.4
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.0
Mobile Homes 32.6
Other 0.0

Home Size

SIZE OF New Market HOMES
No Bedroom 0.00
1 Bedroom 0.00
2 Bedrooms 26.50
3 Bedrooms 60.84
4 Bedrooms 12.66
5 or more bedrooms 0.00

Popular Neighborhoods in New Market

Zip Codes in New Market, AL