Magalia, CA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Magalia, CA Real Estate Data


Magalia Housing Market Information

With 11,405 people, 4,747 houses or apartments, and a median cost of homes of $194,286, Magalia real estate values are some of the lowest in California, although compared to real estate around the nation, Magalia homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Magalia, accounting for 59.18% of the town's housing units. Other types of housing that are prevalent in Magalia include mobile homes or trailers ( 39.20%), duplexes, homes converted to apartments or other small apartment buildings ( 1.02%).

Dwellings in Magalia tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.01% of the homes in Magalia have two or fewer bedrooms.

There is a lot of housing in Magalia 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 Magalia built between 2000 and later ( 9.35%). A lesser amount of the housing stock also hails from between 1940-1969 ( 7.30%). There's also some housing in Magalia built before 1939 ( 1.00%).

Vacant housing appears to be an issue in Magalia. Fully 13.61% of the housing stock is classified as vacant. Left unchecked, vacant Magalia homes and apartments can be a drag on the real estate market, holding Magalia 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.

Magalia Home Appreciation Rates

Homes have actually lost value in Magalia over the last then years, as home values have seen a decline of 24.72% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Magalia home appreciation rates at 2.80%, which equates to an annual appreciation rate of 11.69%.

Appreciation rates are so strong in Magalia that despite a nationwide downturn in the housing market, Magalia real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Magalia appreciation rates continue to be some of the highest in America, at 10.22%, which is higher than appreciation rates in 93.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Magalia. Magalia appreciation rates in the latest quarter were at 2.80%, which equates to an annual appreciation rate of 11.69%.

Importantly, this makes Magalia 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 California, our data show that Magalia's latest annual appreciation rate is higher than 80% of the other cities and towns in California.

Average Home Values

 

Median Home Value:
$194,286

Magalia, CA HOME PRICES

Value Range
> $1,255,000 0.6
$941,001 - $1,255,000 0.4
$627,001 - $941,000 2.5
$502,001 - $627,000 0.5
$377,001 - $502,000 4.8
$251,001 - $377,000 21.1
$125,001 - $251,000 45.2
$63,001 - $125,000 16.3
$0 - $63,000 8.3

Very Low for CA
High for Nation

Value Relative to Nation Value Relative to State
33.4056017813196 87.5661375661376

Number Of Homes And Apartments:
4,747

Rent & Ownership

 

Average Market Rent:
$1,195 / per month

Homeownership Rate

Homeownership
Owners 76.51
Renters 23.49
Vacant 13.61

Housing Market Details

 

Age of Homes

AGE OF Magalia HOMES
2000 or Newer 9.4
1970 - 1999 82.3
1940 - 1969 7.3
1939 or Older 1.0

Types of Homes

TYPE OF Magalia HOMES
Single-Family 59.2
Townhomes 0.3
Small Apt. Buildings 1.0
Apt. Complexes 0.1
Mobile Homes 39.2
Other 0.1

Home Size

SIZE OF Magalia HOMES
No Bedroom 0.35
1 Bedroom 2.57
2 Bedrooms 49.10
3 Bedrooms 43.97
4 Bedrooms 3.91
5 or more bedrooms 0.11

Magalia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CA*
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
51.21% 2.43% 2 6
* 10 is highest

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