Old Westbury, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Old Westbury Neighborhoods Since 2000




Old Westbury, 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

Old Westbury Housing Market Information

With 4,678 people, 943 houses or apartments, and a median cost of homes of $1,919,502, Old Westbury house prices are not only among the most expensive in New York, Old Westbury real estate also is some of the most expensive in all of America.

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

Not only is Old Westbury's real estate primarily composed of large, four, five or more bedroom residences ( 81.23%), but it has a blend of both renters and owners ( 36.19% renters; 63.81% owner occupied).

There is a lot of housing in Old Westbury 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 Old Westbury built between 1940-1969 ( 31.42%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.43%). There's also some housing in Old Westbury built before 1939 ( 13.68%).

Vacant housing appears to be an issue in Old Westbury. Fully 11.04% of the housing stock is classified as vacant. Left unchecked, vacant Old Westbury homes and apartments can be a drag on the real estate market, holding Old Westbury 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.

Old Westbury Home Appreciation Rates

Appreciation rates for homes in Old Westbury have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 6.79%, which ranks in the top 40% nationwide. This equates to an annual average Old Westbury house appreciation rate of 0.66%.

Appreciation rates are so strong in Old Westbury that despite a nationwide downturn in the housing market, Old Westbury real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Old Westbury appreciation rates continue to be some of the highest in America, at 5.94%, which is higher than appreciation rates in 73.49% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Old Westbury. Old Westbury 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 Old Westbury's latest annual appreciation rate is higher than 80% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$1,919,502

Old Westbury, NY HOME PRICES

Value Range
> $1,134,000 81.4
$851,001 - $1,134,000 10.0
$567,001 - $851,000 3.5
$453,001 - $567,000 0.8
$340,001 - $453,000 0.2
$227,001 - $340,000 0.1
$113,001 - $227,000 2.3
$57,001 - $113,000 0.9
$0 - $57,000 0.9

Very High for NY
Very High for Nation

Value Relative to Nation Value Relative to State
0.19336692839564 0.673400673400673

Number Of Homes And Apartments:
943

Old Westbury 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
89.78% 3.78% 10 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,196 / per month

Homeownership Rate

Homeownership
Owners 63.81
Renters 36.19
Vacant 11.04

Housing Market Details

 

Age of Homes

AGE OF Old Westbury HOMES
2000 or Newer 14.4
1970 - 1999 40.5
1940 - 1969 31.4
1939 or Older 13.7

Types of Homes

TYPE OF Old Westbury HOMES
Single-Family 94.5
Townhomes 2.5
Small Apt. Buildings 2.3
Apt. Complexes 0.4
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Old Westbury HOMES
No Bedroom 0.57
1 Bedroom 1.13
2 Bedrooms 3.87
3 Bedrooms 13.21
4 Bedrooms 32.64
5 or more bedrooms 48.58