Chestnut Ridge, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Chestnut Ridge Neighborhoods Since 2000




Chestnut Ridge, NY 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

Chestnut Ridge Housing Market Information

With 8,158 people, 2,513 houses or apartments, and a median cost of homes of $518,745, Chestnut Ridge house prices are not only among the most expensive in New York, Chestnut Ridge real estate also is some of the most expensive in all of America.

Chestnut Ridge is a village of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Chestnut Ridge than is found in 98% of the communities in America.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Chestnut Ridge. Owner-occupied housing accounts for 78.85% of Chestnut Ridge's homes, and 70.68% have either three or four bedrooms, which is average sized relative to America.

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. Chestnut Ridge's housing was primarily built during this period, from the '40s through the '60s. A full 58.02% of the village's housing hails from this era. Other housing ages represented in Chestnut Ridge include homes built between 1970-1999 ( 27.78%) and housing constructed before 1939 ( 8.33%). There's also some housing in Chestnut Ridge built between 2000 and later ( 5.87%).

Chestnut Ridge Home Appreciation Rates

Real estate appreciation rates in Chestnut Ridge's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.16% during the period.

Appreciation rates are so strong in Chestnut Ridge that despite a nationwide downturn in the housing market, Chestnut Ridge real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Chestnut Ridge appreciation rates continue to be some of the highest in America, at 7.61%, which is higher than appreciation rates in 84.76% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Chestnut Ridge. Chestnut Ridge appreciation rates in the latest quarter were at 0.66%, which equates to an annual appreciation rate of 2.68%.

Relative to New York, our data show that Chestnut Ridge's latest annual appreciation rate is higher than 90% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$518,745

Chestnut Ridge, NY HOME PRICES

Value Range
> $1,225,000 0.6
$919,001 - $1,225,000 2.5
$613,001 - $919,000 19.7
$490,001 - $613,000 36.5
$367,001 - $490,000 31.9
$245,001 - $367,000 4.7
$122,001 - $245,000 0.9
$61,001 - $122,000 1.2
$0 - $61,000 2.1

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
5.46115082620415 15.4882154882155

Number Of Homes And Apartments:
2,513

Chestnut Ridge Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
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
88.84% 3.75% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,156 / per month

Homeownership Rate

Homeownership
Owners 78.85
Renters 21.15
Vacant 3.57

Housing Market Details

 

Age of Homes

AGE OF Chestnut Ridge HOMES
2000 or Newer 5.9
1970 - 1999 27.8
1940 - 1969 58.0
1939 or Older 8.3

Types of Homes

TYPE OF Chestnut Ridge HOMES
Single-Family 81.6
Townhomes 5.8
Small Apt. Buildings 5.9
Apt. Complexes 6.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Chestnut Ridge HOMES
No Bedroom 2.69
1 Bedroom 7.75
2 Bedrooms 7.64
3 Bedrooms 26.63
4 Bedrooms 44.05
5 or more bedrooms 11.24