Ocean View, DE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Ocean View Neighborhoods Since 2000




Ocean View, DE 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

Ocean View Housing Market Information

With a population of 2,035, 891 total housing units (homes and apartments), and a median house value of $360,350, Ocean View house prices are not only among the most expensive in Delaware, Ocean View real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Ocean View, accounting for 76.11% of the town's housing units. Other types of housing that are prevalent in Ocean View include row houses and other attached homes ( 21.40%), duplexes, homes converted to apartments or other small apartment buildings ( 1.41%), and a few large apartment complexes or high rise apartments ( 1.09%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Ocean View. Owner-occupied housing accounts for 91.34% of Ocean View's homes, and 79.39% have either three or four bedrooms, which is average sized relative to America.

Ocean View homes and real estate are some of the newest in America. 60.80% of Ocean View's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Ocean View real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 33.63%), and between 1940-1969 ( 3.28%). There's also some housing in Ocean View built before 1939 ( 2.29%).

A decent proportion of the Ocean View housing stock is seasonally occupied. That is, homes and condos in Ocean View are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Ocean View housing market speaks to its popularity as a vacation location of choice.

Ocean View Home Appreciation Rates

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

Appreciation rates are so strong in Ocean View that despite a nationwide downturn in the housing market, Ocean View real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Ocean View appreciation rates continue to be some of the highest in America, at 7.62%, which is higher than appreciation rates in 84.83% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Ocean View. Ocean View appreciation rates in the latest quarter were at -0.31%, which equates to an annual appreciation rate of -1.24%.

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

Average Home Values

 

Median Home Value:
$360,350

Ocean View, DE HOME PRICES

Value Range
> $1,143,000 1.6
$858,001 - $1,143,000 1.2
$572,001 - $858,000 7.5
$457,001 - $572,000 11.7
$343,001 - $457,000 31.2
$229,001 - $343,000 35.2
$114,001 - $229,000 8.5
$57,001 - $114,000 1.5
$0 - $57,000 1.5

Very High for DE
Very High for Nation

Value Relative to Nation Value Relative to State
11.4672448142506 18.1818181818182

Number Of Homes And Apartments:
891

Ocean View Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
DE*
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
80.56% 3.48% 9 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,655 / per month

Homeownership Rate

Homeownership
Owners 91.34
Renters 8.66
Vacant 53.62

Housing Market Details

 

Age of Homes

AGE OF Ocean View HOMES
2000 or Newer 60.8
1970 - 1999 33.6
1940 - 1969 3.3
1939 or Older 2.3

Types of Homes

TYPE OF Ocean View HOMES
Single-Family 76.1
Townhomes 21.4
Small Apt. Buildings 1.4
Apt. Complexes 1.1
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Ocean View HOMES
No Bedroom 0.21
1 Bedroom 0.00
2 Bedrooms 15.51
3 Bedrooms 53.93
4 Bedrooms 25.46
5 or more bedrooms 4.89