With 24,298 people, 10,780 houses or apartments, and a median cost of homes of $291,108, New Smyrna Beach real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in New Smyrna Beach, accounting for 52.32% of the city's housing units. Other types of housing that are prevalent in New Smyrna Beach include large apartment complexes or high rise apartments ( 30.18%), duplexes, homes converted to apartments or other small apartment buildings ( 9.05%), and a few row houses and other attached homes ( 7.37%).
Dwellings in New Smyrna Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 56.48% of the homes in New Smyrna Beach have two or fewer bedrooms.
There is a lot of housing in New Smyrna Beach 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 New Smyrna Beach built between 2000 and later ( 21.89%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.07%). There's also some housing in New Smyrna Beach built before 1939 ( 3.75%).
Vacant housing appears to be an issue in New Smyrna Beach. Fully 36.42% of the housing stock is classified as vacant. Left unchecked, vacant New Smyrna Beach homes and apartments can be a drag on the real estate market, holding New Smyrna Beach 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.
New Smyrna Beach's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Smyrna Beach during the period has been just -1.63%, which is lower than 80% of US communities.
Appreciation rates are so strong in New Smyrna Beach that despite a nationwide downturn in the housing market, New Smyrna Beach real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Smyrna Beach appreciation rates continue to be some of the highest in America, at 9.18%, which is higher than appreciation rates in 96.08% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Smyrna Beach. New Smyrna Beach appreciation rates in the latest quarter were at 1.64%, which equates to an annual appreciation rate of 6.72%.
Relative to Florida, our data show that New Smyrna Beach's latest annual appreciation rate is lower than 50% of the other cities and towns in Florida.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within New Smyrna Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Smyrna Beach - 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 New Smyrna Beach real estate investment or home purchase decisions.
|$1,018,001 - $1,357,000||3.2|
|$679,001 - $1,018,000||4.1|
|$543,001 - $679,000||6.7|
|$407,001 - $543,000||11.0|
|$271,001 - $407,000||22.8|
|$136,001 - $271,000||29.4|
|$68,001 - $136,000||11.8|
|$0 - $68,000||8.4|
|Value Relative to Nation||Value Relative to State|
|AGE OF New Smyrna Beach HOMES|
|2000 or Newer||21.9|
|1970 - 1999||57.3|
|1940 - 1969||17.1|
|1939 or Older||3.7|
|TYPE OF New Smyrna Beach HOMES|
|Small Apt. Buildings||9.1|
|SIZE OF New Smyrna Beach HOMES|
|5 or more bedrooms||0.83|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2016 Q3
|* 10 is highest|