Greenwood, AR
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Greenwood Neighborhoods Since 2000




Greenwood, AR 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

Greenwood Housing Market Information

With 9,322 people, 3,176 houses or apartments, and a median cost of homes of $137,349, house prices in Greenwood are solidly below the national average.

Single-family detached homes are the single most common housing type in Greenwood, accounting for 86.49% of the city's housing units. Other types of housing that are prevalent in Greenwood include duplexes, homes converted to apartments or other small apartment buildings ( 7.55%), large apartment complexes or high rise apartments ( 4.58%), and a few mobile homes or trailers ( 1.12%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Greenwood. Owner-occupied housing accounts for 70.59% of Greenwood's homes, and 73.77% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Greenwood 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 Greenwood built between 2000 and later ( 24.55%). A lesser amount of the housing stock also hails from between 1940-1969 ( 12.39%). There's also some housing in Greenwood built before 1939 ( 4.58%).

Greenwood Home Appreciation Rates

Appreciation rates for homes in Greenwood have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 12.94%, which ranks in the top 30% nationwide. This equates to an annual average Greenwood house appreciation rate of 1.22%.

Appreciation rates are so strong in Greenwood that despite a nationwide downturn in the housing market, Greenwood real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Greenwood appreciation rates continue to be some of the highest in America, at 8.97%, which is higher than appreciation rates in 90.66% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Greenwood. Greenwood appreciation rates in the latest quarter were at 4.53%, which equates to an annual appreciation rate of 19.40%.

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

Relative to Arkansas, our data show that Greenwood's latest annual appreciation rate is higher than 90% of the other cities and towns in Arkansas.

Average Home Values

 

Median Home Value:
$137,349

Greenwood, AR HOME PRICES

Value Range
> $1,120,000 0.1
$840,001 - $1,120,000 0.4
$560,001 - $840,000 0.7
$448,001 - $560,000 1.7
$336,001 - $448,000 1.8
$224,001 - $336,000 15.1
$112,001 - $224,000 47.4
$56,001 - $112,000 26.6
$0 - $56,000 6.3

Very High for AR
Average for Nation

Value Relative to Nation Value Relative to State
56.0764092347357 19.0140845070423

Number Of Homes And Apartments:
3,176

Greenwood Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AR*
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
41.75% 2.04% 6 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$950 / per month

Homeownership Rate

Homeownership
Owners 70.59
Renters 29.41
Vacant 6.73

Housing Market Details

 

Age of Homes

AGE OF Greenwood HOMES
2000 or Newer 24.6
1970 - 1999 58.5
1940 - 1969 12.4
1939 or Older 4.6

Types of Homes

TYPE OF Greenwood HOMES
Single-Family 86.5
Townhomes 0.3
Small Apt. Buildings 7.5
Apt. Complexes 4.6
Mobile Homes 1.1
Other 0.0

Home Size

SIZE OF Greenwood HOMES
No Bedroom 1.12
1 Bedroom 5.05
2 Bedrooms 16.71
3 Bedrooms 58.47
4 Bedrooms 15.30
5 or more bedrooms 3.35

Popular Neighborhoods in Greenwood

Zip Codes in Greenwood, AR