Hammondsport, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hammondsport, NY Real Estate Data


Hammondsport Housing Market Information

With a population of 644, 357 total housing units (homes and apartments), and a median house value of $148,980, Hammondsport real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Hammondsport, accounting for 65.53% of the village's housing units. Other types of housing that are prevalent in Hammondsport include duplexes, homes converted to apartments or other small apartment buildings ( 23.74%), large apartment complexes or high rise apartments ( 9.82%).

The most prevalent building size and type in Hammondsport are three and four bedroom dwellings, chiefly found in single-family detached homes. The village has a mixture of owners and renters, with 60.50% owning and 39.50% renting.

The housing in Hammondsport was primarily built before 1939 ( 89.27%), making the housing stock in Hammondsport some of the oldest overall in America, although there is a range of ages of homes in Hammondsport. The next most important housing age is between 1940-1969 ( 6.16%), followed by between 1970-1999 ( 2.51%). There's also some housing in Hammondsport built between 2000 and later ( 2.05%).

Vacant housing appears to be an issue in Hammondsport. Fully 18.49% of the housing stock is classified as vacant. Left unchecked, vacant Hammondsport homes and apartments can be a drag on the real estate market, holding Hammondsport 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.

Hammondsport Home Appreciation Rates

In the last 10 years, Hammondsport has experienced some of the highest home appreciation rates of any community in the nation. Hammondsport real estate appreciated 31.86% over the last ten years, which is an average annual home appreciation rate of 2.80%, putting Hammondsport in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hammondsport definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Hammondsport appreciation rates have trailed the rest of the nation. In the last twelve months, Hammondsport's appreciation rate has been 3.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hammondsport were at 0.41%, which equates to an annual appreciation rate of 1.66%.

Notably, Hammondsport's appreciation rate in the latest quarter is one of the lowest in America.

Relative to New York, our data show that Hammondsport's latest annual appreciation rate is higher than 50% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$148,980

Hammondsport, NY HOME PRICES

Value Range
> $1,093,000 0.0
$820,001 - $1,093,000 2.1
$547,001 - $820,000 2.5
$437,001 - $547,000 2.9
$328,001 - $437,000 8.3
$218,001 - $328,000 8.4
$109,001 - $218,000 42.0
$55,001 - $109,000 22.0
$0 - $55,000 11.8

Low for NY
Average for Nation

Value Relative to Nation Value Relative to State
51.2677870820402 60.1571268237935

Number Of Homes And Apartments:
357

Rent & Ownership

 

Average Market Rent:
$794 / per month

Homeownership Rate

Homeownership
Owners 60.50
Renters 39.50
Vacant 18.49

Housing Market Details

 

Age of Homes

AGE OF Hammondsport HOMES
2000 or Newer 2.1
1970 - 1999 2.5
1940 - 1969 6.2
1939 or Older 89.3

Types of Homes

TYPE OF Hammondsport HOMES
Single-Family 65.5
Townhomes 0.5
Small Apt. Buildings 23.7
Apt. Complexes 9.8
Mobile Homes 0.5
Other 0.0

Home Size

SIZE OF Hammondsport HOMES
No Bedroom 1.37
1 Bedroom 25.80
2 Bedrooms 20.55
3 Bedrooms 30.37
4 Bedrooms 20.32
5 or more bedrooms 1.60

Hammondsport Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
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
76.88% 3.41% 9 9
* 10 is highest

Popular Neighborhoods in Hammondsport

Zip Codes in Hammondsport, NY