Scotia, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Scotia, NY Real Estate Data


Scotia Housing Market Information

With 7,727 people, 2,946 houses or apartments, and a median cost of homes of $153,069, Scotia 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 Scotia, accounting for 61.65% of the village's housing units. Other types of housing that are prevalent in Scotia include duplexes, homes converted to apartments or other small apartment buildings ( 22.47%), large apartment complexes or high rise apartments ( 14.56%), and a few row houses and other attached homes ( 1.32%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Scotia. Owner-occupied housing accounts for 68.73% of Scotia's homes, and 59.98% have either three or four bedrooms, which is average sized relative to America.

The housing in Scotia was primarily built before 1939 ( 50.92%), making the housing stock in Scotia some of the oldest overall in America, although there is a range of ages of homes in Scotia. The next most important housing age is between 1940-1969 ( 25.52%), followed by between 1970-1999 ( 20.04%). There's also some housing in Scotia built between 2000 and later ( 3.52%).

Vacant housing appears to be an issue in Scotia. Fully 13.68% of the housing stock is classified as vacant. Left unchecked, vacant Scotia homes and apartments can be a drag on the real estate market, holding Scotia 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.

Scotia Home Appreciation Rates

Real estate appreciation rates in Scotia's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.09% during the period.

NeighborhoodScout's data show that during the latest twelve months, Scotia's appreciation rate, at 4.95%, has been at or slightly above the national average. In the latest quarter, Scotia's appreciation rate has been 1.15%, which annualizes to a rate of 4.70%.

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

Average Home Values

 

Median Home Value:
$153,069

Scotia, NY HOME PRICES

Value Range
> $1,027,000 1.3
$771,001 - $1,027,000 0.0
$514,001 - $771,000 0.0
$412,001 - $514,000 0.0
$309,001 - $412,000 1.1
$206,001 - $309,000 13.2
$103,001 - $206,000 71.3
$52,001 - $103,000 10.3
$0 - $52,000 2.8

Average for NY
Average for Nation

Value Relative to Nation Value Relative to State
49.4202728816537 58.1369248035915

Number Of Homes And Apartments:
2,946

Rent & Ownership

 

Average Market Rent:
$985 / per month

Homeownership Rate

Homeownership
Owners 68.73
Renters 31.27
Vacant 13.68

Housing Market Details

 

Age of Homes

AGE OF Scotia HOMES
2000 or Newer 3.5
1970 - 1999 20.0
1940 - 1969 25.5
1939 or Older 50.9

Types of Homes

TYPE OF Scotia HOMES
Single-Family 61.6
Townhomes 1.3
Small Apt. Buildings 22.5
Apt. Complexes 14.6
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Scotia HOMES
No Bedroom 3.40
1 Bedroom 13.13
2 Bedrooms 20.86
3 Bedrooms 48.17
4 Bedrooms 11.81
5 or more bedrooms 2.64

Scotia 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
69.15% 3.14% 8 8
* 10 is highest