Shoreview, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Shoreview, MN Real Estate Data


Shoreview Housing Market Information

With 26,477 people, 10,910 houses or apartments, and a median cost of homes of $277,504, Shoreview real estate is some of the most expensive in Minnesota, although Shoreview home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Shoreview, accounting for 59.80% of the city's housing units. Other types of housing that are prevalent in Shoreview include row houses and other attached homes ( 22.21%), large apartment complexes or high rise apartments ( 15.57%), and a few mobile homes or trailers ( 1.81%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Shoreview. Owner-occupied housing accounts for 81.07% of Shoreview's homes, and 54.42% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Shoreview 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 Shoreview built between 1940-1969 ( 19.04%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.08%). There's also some housing in Shoreview built before 1939 ( 2.09%).

Shoreview Home Appreciation Rates

Real estate appreciation rates in Shoreview's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.46% during the period.

Appreciation rates are so strong in Shoreview that despite a nationwide downturn in the housing market, Shoreview real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Shoreview appreciation rates continue to be some of the highest in America, at 5.83%, which is higher than appreciation rates in 71.90% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Shoreview. Shoreview appreciation rates in the latest quarter were at 2.70%, which equates to an annual appreciation rate of 11.26%.

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

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Shoreview differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Shoreview - 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 Shoreview real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$277,504

Shoreview, MN HOME PRICES

Value Range
> $1,182,000 1.2
$886,001 - $1,182,000 1.4
$591,001 - $886,000 5.6
$473,001 - $591,000 5.3
$355,001 - $473,000 15.2
$236,001 - $355,000 34.8
$118,001 - $236,000 27.4
$59,001 - $118,000 3.7
$0 - $59,000 5.3

Very High for MN
Very High for Nation

Value Relative to Nation Value Relative to State
19.2832464718627 14.3737166324435

Number Of Homes And Apartments:
10,910

Rent & Ownership

 

Average Market Rent:
$1,358 / per month

Homeownership Rate

Homeownership
Owners 81.07
Renters 18.93
Vacant 2.75

Housing Market Details

 

Age of Homes

AGE OF Shoreview HOMES
2000 or Newer 7.1
1970 - 1999 71.8
1940 - 1969 19.0
1939 or Older 2.1

Types of Homes

TYPE OF Shoreview HOMES
Single-Family 59.8
Townhomes 22.2
Small Apt. Buildings 0.6
Apt. Complexes 15.6
Mobile Homes 1.8
Other 0.0

Home Size

SIZE OF Shoreview HOMES
No Bedroom 0.37
1 Bedroom 9.12
2 Bedrooms 29.30
3 Bedrooms 30.85
4 Bedrooms 23.57
5 or more bedrooms 6.78

Shoreview Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
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
39.27% 1.97% 5 4
* 10 is highest