Dover, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Dover Neighborhoods Since 2000




Dover, DE Real Estate Data


Dover Housing Market Information

With 37,522 people, 12,680 houses or apartments, and a median cost of homes of $198,892, Dover real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Dover, accounting for 45.61% of the city's housing units. Other types of housing that are prevalent in Dover include large apartment complexes or high rise apartments ( 29.50%), row houses and other attached homes ( 14.78%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.52%).

The most prevalent building size and type in Dover are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 45.08% owning and 54.92% renting.

There is a lot of housing in Dover 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 Dover built between 1940-1969 ( 29.63%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.43%). There's also some housing in Dover built before 1939 ( 6.63%).

Vacant housing appears to be an issue in Dover. Fully 12.86% of the housing stock is classified as vacant. Left unchecked, vacant Dover homes and apartments can be a drag on the real estate market, holding Dover 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.

Dover Home Appreciation Rates

Dover's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Dover during the period has been just -1.55%, which is lower than 80% of US communities.

Appreciation rates are so strong in Dover that despite a nationwide downturn in the housing market, Dover real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Dover appreciation rates continue to be some of the highest in America, at 6.24%, which is higher than appreciation rates in 77.29% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Dover. Dover appreciation rates in the latest quarter were at 3.88%, which equates to an annual appreciation rate of 16.43%.

Importantly, this makes Dover 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 Delaware, our data show that Dover's latest annual appreciation rate is higher than 70% of the other cities and towns in Delaware.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Dover differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Dover - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Dover real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$198,892

Dover, DE HOME PRICES

Value Range
> $1,074,000 0.8
$806,001 - $1,074,000 0.2
$537,001 - $806,000 1.5
$430,001 - $537,000 1.6
$322,001 - $430,000 6.6
$215,001 - $322,000 27.8
$108,001 - $215,000 47.3
$54,001 - $108,000 5.3
$0 - $54,000 8.8

Low for DE
High for Nation

Value Relative to Nation Value Relative to State
33.4777771271301 72.7272727272727

Number Of Homes And Apartments:
12,680

Rent & Ownership

 

Average Market Rent:
$1,483 / per month

Homeownership Rate

Homeownership
Owners 45.08
Renters 54.92
Vacant 12.86

Housing Market Details

 

Age of Homes

AGE OF Dover HOMES
2000 or Newer 16.4
1970 - 1999 47.3
1940 - 1969 29.6
1939 or Older 6.6

Types of Homes

TYPE OF Dover HOMES
Single-Family 45.6
Townhomes 14.8
Small Apt. Buildings 5.5
Apt. Complexes 29.5
Mobile Homes 4.5
Other 0.1

Home Size

SIZE OF Dover HOMES
No Bedroom 1.81
1 Bedroom 11.40
2 Bedrooms 28.94
3 Bedrooms 38.81
4 Bedrooms 16.42
5 or more bedrooms 2.62

Dover Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
41.48% 2.06% 1 5
* 10 is highest