Reece City, AL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Reece City, AL Real Estate Data


Reece City Housing Market Information

With 632 people, 282 houses or apartments, and a median cost of homes of $89,601, house prices in Reece City are solidly below the national average.

Single-family detached homes are the single most common housing type in Reece City, accounting for 89.54% of the town's housing units. Other types of housing that are prevalent in Reece City include mobile homes or trailers ( 9.85%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Reece City. Owner-occupied housing accounts for 84.75% of Reece City's homes, and 76.31% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Reece City 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 Reece City built between 1940-1969 ( 34.46%). A lesser amount of the housing stock also hails from before 1939 ( 10.15%). There's also some housing in Reece City built between 2000 and later ( 6.46%).

Vacant housing appears to be an issue in Reece City. Fully 13.23% of the housing stock is classified as vacant. Left unchecked, vacant Reece City homes and apartments can be a drag on the real estate market, holding Reece City 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.

Reece City Home Appreciation Rates

Appreciation rates for homes in Reece City have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 13.64%, which ranks in the top 30% nationwide. This equates to an annual average Reece City house appreciation rate of 1.29%.

Appreciation rates are so strong in Reece City that despite a nationwide downturn in the housing market, Reece City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Reece City appreciation rates continue to be some of the highest in America, at 23.02%, which is higher than appreciation rates in 99.79% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Reece City. Reece City appreciation rates in the latest quarter were at 5.40%, which equates to an annual appreciation rate of 23.41%.

Importantly, this makes Reece City 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 Reece City's latest annual appreciation rate is higher than 90% of the other cities and towns in Alabama.

Average Home Values

 

Median Home Value:
$89,601

Reece City, AL HOME PRICES

Value Range
> $1,171,000 0.4
$879,001 - $1,171,000 0.2
$586,001 - $879,000 0.2
$468,001 - $586,000 1.3
$351,001 - $468,000 2.2
$235,001 - $351,000 6.0
$117,001 - $235,000 31.9
$58,001 - $117,000 30.1
$0 - $58,000 27.5

Low for AL
Very Low for Nation

Value Relative to Nation Value Relative to State
84.2376655338099 63.25

Number Of Homes And Apartments:
282

Rent & Ownership

 

Average Market Rent:
$910 / per month

Homeownership Rate

Homeownership
Owners 84.75
Renters 15.25
Vacant 13.23

Housing Market Details

 

Age of Homes

AGE OF Reece City HOMES
2000 or Newer 6.5
1970 - 1999 48.9
1940 - 1969 34.5
1939 or Older 10.2

Types of Homes

TYPE OF Reece City HOMES
Single-Family 89.5
Townhomes 0.0
Small Apt. Buildings 0.0
Apt. Complexes 0.6
Mobile Homes 9.8
Other 0.0

Home Size

SIZE OF Reece City HOMES
No Bedroom 0.00
1 Bedroom 6.15
2 Bedrooms 14.15
3 Bedrooms 65.54
4 Bedrooms 10.77
5 or more bedrooms 3.38

Reece City 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
42.52% 2.08% 8 5
* 10 is highest

Popular Neighborhoods in Reece City

Zip Codes in Reece City, AL