Westover, MD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Westover Neighborhoods Since 2000




Westover, MD 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

Westover Housing Market Information

With 5,786 people, 332 houses or apartments, and a median cost of homes of $176,761, Westover real estate values are some of the lowest in Maryland, although compared to real estate around the nation, Westover homes are still considered rather expensive.

Single-family detached homes are the single most common housing type in Westover, accounting for 44.43% of the town's housing units. Other types of housing that are prevalent in Westover include row houses and other attached homes ( 21.46%), mobile homes or trailers ( 21.42%), and a few large apartment complexes or high rise apartments ( 12.68%).

Large homes primarily occupied by renters? Yes. That is what you'll find in Westover, which is a very remarkable trait of Westover real estate.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Westover's housing was primarily built during this period, from the '40s through the '60s. A full 45.68% of the town's housing hails from this era. Other housing ages represented in Westover include homes built between 1970-1999 ( 27.43%) and housing constructed before 1939 ( 22.03%). There's also some housing in Westover built between 2000 and later ( 4.86%).

Vacant housing appears to be an issue in Westover. Fully 26.05% of the housing stock is classified as vacant. Left unchecked, vacant Westover homes and apartments can be a drag on the real estate market, holding Westover 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.

Westover Home Appreciation Rates

Homes have actually lost value in Westover over the last then years, as home values have seen a decline of 20.12% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Westover home appreciation rates at -0.31%, which equates to an annual appreciation rate of -1.24%.

NeighborhoodScout's data show that during the latest twelve months, Westover's appreciation rate, at 5.24%, has been at or slightly above the national average. In the latest quarter, Westover's appreciation rate has been -0.31%, which annualizes to a rate of -1.24%.

Relative to Maryland, our data show that Westover's latest annual appreciation rate is higher than 80% of the other cities and towns in Maryland.

Average Home Values

 

Median Home Value:
$176,761

Westover, MD HOME PRICES

Value Range
> $1,086,000 3.9
$815,001 - $1,086,000 0.0
$543,001 - $815,000 1.1
$434,001 - $543,000 0.8
$326,001 - $434,000 8.2
$217,001 - $326,000 25.5
$109,001 - $217,000 42.7
$54,001 - $109,000 10.4
$0 - $54,000 7.5

Very Low for MD
High for Nation

Value Relative to Nation Value Relative to State
39.2827844837689 81.6793893129771

Number Of Homes And Apartments:
332

Westover Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MD*
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
54.85% 2.57% 4 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$891 / per month

Homeownership Rate

Homeownership
Owners 25.66
Renters 74.34
Vacant 26.05

Housing Market Details

 

Age of Homes

AGE OF Westover HOMES
2000 or Newer 4.9
1970 - 1999 27.4
1940 - 1969 45.7
1939 or Older 22.0

Types of Homes

TYPE OF Westover HOMES
Single-Family 44.4
Townhomes 21.5
Small Apt. Buildings 0.0
Apt. Complexes 12.7
Mobile Homes 21.4
Other 0.0

Home Size

SIZE OF Westover HOMES
No Bedroom 0.00
1 Bedroom 13.75
2 Bedrooms 21.72
3 Bedrooms 19.66
4 Bedrooms 22.30
5 or more bedrooms 22.57

Popular Neighborhoods in Westover

Zip Codes in Westover, MD