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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 3,093, 990 total housing units (homes and apartments), and a median house value of $485,105, Selbyville real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Selbyville, accounting for 92.13% of the town's housing units. Other types of housing that are prevalent in Selbyville include row houses and other attached homes ( 3.74%), duplexes, homes converted to apartments or other small apartment buildings ( 2.03%), and a few mobile homes or trailers ( 1.56%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Selbyville. Owner-occupied housing accounts for 86.10% of Selbyville's homes, and 73.89% have either three or four bedrooms, which is average sized relative to America.
Selbyville homes and real estate are some of the newest in America. 58.22% of Selbyville'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 Selbyville real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 18.71%), and between 1940-1969 ( 11.85%). There's also some housing in Selbyville built before 1939 ( 11.22%).
Vacant housing appears to be an issue in Selbyville. Fully 22.84% of the housing stock is classified as vacant. Left unchecked, vacant Selbyville homes and apartments can be a drag on the real estate market, holding Selbyville 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.
Appreciation rates for homes in Selbyville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 83.73%, which ranks in the top 50% nationwide. This equates to an annual average Selbyville house appreciation rate of 6.27%.
Appreciation rates are so strong in Selbyville that despite a nationwide downturn in the housing market, Selbyville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Selbyville appreciation rates continue to be some of the highest in America, at 9.16%, which is higher than appreciation rates in 92.20% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Selbyville. Selbyville appreciation rates in the latest quarter were at 6.79%, which equates to an annual appreciation rate of 30.04%.
Importantly, this makes Selbyville 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 Delaware, our data show that Selbyville's latest annual appreciation rate is higher than 50% 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 town. Individual neighborhoods within Selbyville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Selbyville - 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 Selbyville real estate investment or home purchase decisions.
$485,105
for Delaware
for nation
990
$2,143 / per month